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REGISTERED NUMBER: 11933687 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

Breckland Development Ltd

Breckland Development Ltd (Registered number: 11933687)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


Breckland Development Ltd

COMPANY INFORMATION
for the year ended 31 March 2024







Directors: Mr P Gray
Mr H Gray
Mr M Gray
Mrs J K Gray





Registered office: Abacus House
129 North Hill
Plymouth
PL4 8JY





Business address: Woodacre
Down Road
Tavistock
Devon
PL19 9AQ





Registered number: 11933687 (England and Wales)





Accountants: Nigel Webster & Co
129 North Hill
Plymouth
Devon
PL4 8JY

Breckland Development Ltd (Registered number: 11933687)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 32,239 21,205
Investments 5 2,752 -
34,991 21,205

Current assets
Stocks 883,951 650,190
Debtors 6 13,183 5,638
Cash at bank 71,467 6,377
968,601 662,205
Creditors
Amounts falling due within one year 7 854,721 592,990
Net current assets 113,880 69,215
Total assets less current liabilities 148,871 90,420

Provisions for liabilities 8 7,900 3,900
Net assets 140,971 86,520

Capital and reserves
Called up share capital 9 100 100
Retained earnings 140,871 86,420
Shareholders' funds 140,971 86,520

Breckland Development Ltd (Registered number: 11933687)

BALANCE SHEET - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





Mr H Gray - Director


Breckland Development Ltd (Registered number: 11933687)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Breckland Development Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number, business address and registered office address can be found on the company information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Breckland Development Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents the value under contracts net of value added tax, to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Where a contract has only been partially completed at the balance sheet date, turnover is adjusted for work in progress to represent the value of the service provided to date based on a proportion of the total expected consideration at completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 25% on cost

Motor vehicles - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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


Breckland Development Ltd (Registered number: 11933687)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 1 ) .

Breckland Development Ltd (Registered number: 11933687)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Motor
Equipment vehicles Totals
£    £    £   
Cost
At 1 April 2023 4,361 22,746 27,107
Additions 19,950 - 19,950
At 31 March 2024 24,311 22,746 47,057
Depreciation
At 1 April 2023 - 5,902 5,902
Charge for year 4,730 4,186 8,916
At 31 March 2024 4,730 10,088 14,818
Net book value
At 31 March 2024 19,581 12,658 32,239
At 31 March 2023 4,361 16,844 21,205

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
Cost
Additions 421,003
Impairments (418,251 )
At 31 March 2024 2,752
Net book value
At 31 March 2024 2,752

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Charles Gray Yelverton Limited
Registered office: Abacus House, 129 North Hill, Plymouth, PL4 8JY
Nature of business: Property development
%
Class of shares: holding
ordinary 100.00

Breckland Development Ltd (Registered number: 11933687)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 13,183 5,638

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Private loans 48,939 303,193
Trade creditors 7,626 5,132
Amounts owed to group undertakings 3,000 -
Tax 17,850 -
Social security and other taxes 1,478 -
Directors' current accounts 492,953 282,265
Directors' loan accounts 280,000 -
Accrued expenses 2,875 2,400
854,721 592,990

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 7,900 3,900

Deferred
tax
£   
Balance at 1 April 2023 3,900
Provided during year 4,000
Balance at 31 March 2024 7,900

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
NIL - -
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

Breckland Development Ltd (Registered number: 11933687)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

10. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed the following amounts:

£
P Gray director & shareholder 383,675
M Gray director & shareholder 369,298
J Williams director & shareholder 4,667
H Gray director & shareholder 15,314
Charles Gray (Property Holdings) Ltd owned by P Gray & M Gray 48,939

The accounts include an accrual for loan interest of £1,000 payable to P Gray in respect of his loan to the company. This was paid shortly after the year end.

11. ULTIMATE CONTROLLING PARTY

The company is owned by the directors and their close family members.