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REGISTERED NUMBER: 12774100 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Eccles Developments Limited

Eccles Developments Limited (Registered number: 12774100)

Contents of the Financial Statements
for the Year Ended 31 July 2023










Page

Balance Sheet 1

Notes to the Financial Statements 2


Eccles Developments Limited (Registered number: 12774100)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £ £
Current assets
Stocks 778,355 766,956
Debtors 5 51,437 46,966
Cash at bank and in hand 6,929 5,421
836,721 819,343
Creditors
Amounts falling due within one year 6 (963,574 ) (892,352 )
Net current liabilities (126,853 ) (73,009 )
Total assets less current liabilities (126,853 ) (73,009 )

Capital and reserves
Called up share capital 100 100
Retained earnings (126,953 ) (73,109 )
(126,853 ) (73,009 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 February 2024 and were signed on its behalf by:



Mr C J Mann - Director


Eccles Developments Limited (Registered number: 12774100)

Notes to the Financial Statements
for the Year Ended 31 July 2023


1. Statutory information

Eccles Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12774100

Registered office: 22-26 King Street
King's Lynn
Norfolk
PE30 1HJ

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities and investment properties measured at fair
value through profit or loss.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Given the straightforward operations and financial position of the company, there are not considered to be any key sources of judgement or estimation uncertainty within these financial statements.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Eccles Developments Limited (Registered number: 12774100)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


3. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Eccles Developments Limited (Registered number: 12774100)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


3. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

4. Employees and directors

The average number of employees during the year was 2 (2022 - 2 ) .

5. Debtors: amounts falling due within one year
31.7.23 31.7.22
£ £
Amounts owed by group undertakings 638 -
Other debtors 50,799 46,966
51,437 46,966

6. Creditors: amounts falling due within one year
31.7.23 31.7.22
£ £
Trade creditors 2,040 -
Amounts owed to group undertakings 799,426 799,702
Other creditors 162,108 92,650
963,574 892,352

7. Secured debts

The following secured debts are included within creditors:

31.7.23 31.7.22
£ £
Amounts owed to group company 799,426 799,169

The loan due to Xirtam Private Finance Limited is secured by a fixed charge over the development property
held in work in progress.

Eccles Developments Limited (Registered number: 12774100)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


8. Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

No further transactions with related parties were undertaken such as are required to be disclosed under FRS
102 Section 1A.

9. Ultimate controlling party

The ultimate parent company is Midian Homes Limited, a company registered in England and Wales.