BRIGHTON STM DEVELOPMENTS LIMITED

• ⚠

  Material uncertainty over going concern

  Following a number of disposals of investment property during the year and subsequent to the year end to both third parties and related undertakings, the Company now manages a small number of development sites, either through freehold ownership or in partnership with landowners under development agreements. Although there are no plans to liquidate the Company, the directors are planning for an orderly transfer of the remaining services to both third parties and related undertakings. If such plans are completed, then the Company would cease to have a trade. Accordingly, the going concern basis of preparation has not been applied in these financial statements. This change in the basis of preparation does not alter the directors' expectation that the Company will have access to sufficient resources, through, if necessary, financial support from Brighton STM Group Holding Company Limited (of which the Company is a direct subsidiary), to continue to meet its obligations as they fall due for the foreseeable future, including after any potential future cessation of trade.

1. BRIGHTON STM DEVELOPMENTS LIMITED 2025-03-20 → present
2. ST. MODWEN DEVELOPMENTS LIMITED 1999-04-08 → 2025-03-20
3. ST. MODWEN DEVELOPMENTS LIMITED 1986-08-22 → 1999-04-08
4. CLARKE ST. MODWEN PROPERTIES LIMITED 1979-12-31 → 1986-08-22
5. ST.MODWEN SECURITIES LIMITED 1966-11-28 → 1979-12-31
6. ST. MODWEN PROPERTIES LIMITED 1966-11-28 → 1979-12-31

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Following a number of disposals of investment property during the year and subsequent to the year end to both third parties and related undertakings, the Company now manages a small number of development sites, either through freehold ownership or in partnership with landowners under development agreements. Although there are no plans to liquidate the Company, the directors are planning for an orderly transfer of the remaining services to both third parties and related undertakings. If such plans are completed, then the Company would cease to have a trade. Accordingly, the going concern basis of preparation has not been applied in these financial statements. This change in the basis of preparation does not alter the directors' expectation that the Company will have access to sufficient resources, through, if necessary, financial support from Brighton STM Group Holding Company Limited (of which the Company is a direct subsidiary), to continue to meet its obligations as they fall due for the foreseeable future, including after any potential future cessation of trade.”

Group structure

1. BRIGHTON STM DEVELOPMENTS LIMITED · parent
   1. Broomford Vange Limited 100% · England and Wales · Dissolved
   2. Baglan Bay Company Limited 100% · England and Wales · Dissolved
   3. Chertsey Road Property Limited 100% · England and Wales · Dissolved
   4. Coed Darcy Limited 100% · England and Wales · Property investment
   5. Coed Darcy Estates Management Limited 100% · England and Wales · Property management
   6. Coed Darcy Land Limited 100% · England and Wales · Property investment
   7. Killingholme Energy Limited 100% · England and Wales · Dissolved
   8. Killingholme Land Limited 100% · England and Wales · Dissolved
   9. Lawnmark Limited 100% · England and Wales · Dissolved
   10. Meaford Energy Limited 100% · England and Wales · Dissolved
   11. Meaford Land Limited 100% · England and Wales · Dissolved
   12. Newcastle Regeneration Partnership Limited 100% · England and Wales · Dissolved
   13. Sandpiper Quay (Management Company No.2) Limited 100% · England and Wales · Dissolved
   14. Shaw Park Developments Limited 100% · England and Wales · Dissolved
   15. St Modwen Developments (Edmonton) Limited 100% · England and Wales · Dissolved
   16. Brighton STM Developments (Meon Vale) Limited 100% · England and Wales · In liquidation
   17. Brighton STM Developments (Clay Cross) 100% · England and Wales · Property investment
   18. St. Modwen Developments (Facility Services) Limited 100% · England and Wales · Dissolved
   19. Brighton STM Developments (Llanwern) Limited 100% · England and Wales · Property investment
   20. Brighton STM Developments (Kirkby 2) Limited 100% · England and Wales · Property development
   21. Brighton STM Developments (Quinton) Limited 100% · England and Wales · In liquidation
   22. Brighton STM Hungerford Limited 100% · England and Wales · In liquidation
   23. Brighton STM Neath Canal Limited 100% · England and Wales · Dormant
   24. Statedale Limited 100% · England and Wales · In liquidation
   25. Woodingdean Estate Management Company Limited 100% · England and Wales · Dissolved

Significant events

• “The Company reported a net loss of £44.4m (2023: £72.6m profit), principally driven by less rental income generated as a result of selling the remaining investment property. Investment property revaluation losses reduced to £0.8m (2023: £9.1m). Total revenue in 2024 of £16.6m was down 55% from £36.6m in 2023, which is as a result of the transfer of the Company's logistics properties to a related party group in the prior year as well as the sale of investment property during the current year.”
• “As at 31 December 2024, the Company had net liabilities of £47.1m, up 1,591% from net liabilities of £2.8m in 31 December 2023. The value of its investment property assets decreased 100% to £nil (2023: £82.8m), mainly due to the disposal of investment properties during the year and the remainder being classified as held for sale.”
• “The Company's fixed asset investments also decreased during the year, closing at a value of £20.3m on 31 December 2024, down 38% from £32.9m in 2023, following a £2.5m investment in an additional subsidiary as part of a wider group reorganisation and net of £15.1m impairment.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

15

last 12 months

Capital events

1

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -54.6%

  £36,602,043 → £16,625,697

• Cash

  -28.6%

  £16,866,062 → £12,048,694

• Net assets

  -1,590.7%

  -£2,788,471 → -£47,143,783

• Employees

  —

  Not reported

• Operating profit

  -1,882.6%

  -£1,616,010 → -£32,039,819

• Profit before tax

  -249.5%

  £29,670,386 → -£44,355,312

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers