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REGISTERED NUMBER: 06182028 (England and Wales)













Unaudited Financial Statements

for the Year Ended 5 April 2025

for

Full House Developments Limited

Full House Developments Limited (Registered number: 06182028)






Contents of the Financial Statements
for the Year Ended 5 April 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Full House Developments Limited

Company Information
for the Year Ended 5 April 2025







DIRECTORS: B K Lane-Smith
Mrs S A N Lane-Smith





SECRETARY: Mrs S A N Lane-Smith





REGISTERED OFFICE: Springfield Lodge
High Street
Halberton
TIVERTON
Devon
EX16 7AW





REGISTERED NUMBER: 06182028 (England and Wales)





ACCOUNTANTS: A C Mole LLP
Chartered Accountants
Stafford House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX

Full House Developments Limited (Registered number: 06182028)

Balance Sheet
5 April 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 894,000 1,811,000
894,000 1,811,000

CURRENT ASSETS
Debtors 6 185,761 109,602
Cash at bank 36,986 143,467
222,747 253,069
CREDITORS
Amounts falling due within one year 7 121,920 239,582
NET CURRENT ASSETS 100,827 13,487
TOTAL ASSETS LESS CURRENT
LIABILITIES

994,827

1,824,487

CREDITORS
Amounts falling due after more than one
year

8

(243,145

)

(821,046

)

PROVISIONS FOR LIABILITIES 10 (54,983 ) (145,203 )
NET ASSETS 696,699 858,238

CAPITAL AND RESERVES
Called up share capital 1 1
Non-distributable reserves 11 320,819 737,021
Retained earnings 11 375,879 121,216
SHAREHOLDERS' FUNDS 696,699 858,238

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 May 2025 and were signed on its behalf by:



B K Lane-Smith - Director


Full House Developments Limited (Registered number: 06182028)

Notes to the Financial Statements
for the Year Ended 5 April 2025

1. STATUTORY INFORMATION

Full House Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


2. ACCOUNTING POLICIES

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

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets, and certain assets and liabilities measured at fair value through the profit and loss account.

Turnover
Turnover represents rental income receivable in relation to property management.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

Full House Developments Limited (Registered number: 06182028)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2025

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 6 April 2024
and 5 April 2025 324 2,768 3,092
DEPRECIATION
At 6 April 2024
and 5 April 2025 324 2,768 3,092
NET BOOK VALUE
At 5 April 2025 - - -
At 5 April 2024 - - -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 6 April 2024 1,811,000
Disposals (890,000 )
Impairments (27,000 )
At 5 April 2025 894,000
NET BOOK VALUE
At 5 April 2025 894,000
At 5 April 2024 1,811,000

Fair value at 5 April 2025 is represented by:
£   
Valuation in 2008 128,146
Valuation in 2010 125,112
Valuation in 2014 198,470
Valuation in 2016 128,000
Valuation in 2018 367,000
Valuation in 2021 65,000
Valuation in 2023 64,000
Valuation in 2024 (193,504 )
Valuation in 2025 (506,423 )
Cost 518,199
894,000

If investment properties had not been revalued they would have been included at the following historical cost:

2025 2024
£    £   
Cost 518,199 928,776

Investment property was valued on an open market basis on 5 April 2025 by the directors .

Full House Developments Limited (Registered number: 06182028)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2025

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 625 560
Amounts owed by associated undertakings 185,000 108,500
Other debtors 136 542
185,761 109,602

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts - 156,460
Taxation and social security 56,991 12,981
Other creditors 64,929 70,141
121,920 239,582

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans 243,145 821,046

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 243,145 821,046

9. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Bank loans 243,145 977,506

Bank loans are secured on the investment properties.

10. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax 54,983 145,203

Deferred
tax
£   
Balance at 6 April 2024 145,203
Utilised during year (90,220 )
Balance at 5 April 2025 54,983

Full House Developments Limited (Registered number: 06182028)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2025

11. RESERVES
Retained Non-distributable
earnings reserves Totals
£    £    £   

At 6 April 2024 121,216 737,021 858,237
Deficit for the year (121,540 ) (121,540 )
Dividends (40,000 ) (40,000 )
Realised gain transferred 506,423 (506,422 ) 1
Unrealised gain provision (90,220 ) 90,220 -
At 5 April 2025 375,879 320,819 696,698

12. RELATED PARTY DISCLOSURES

Included in debtors is £185,000 (2024 - £108,500) which is due from West Country Real Estates Ltd to Full House Developments Ltd. This represents the net amount of payments and receipts made by each company on behalf of the other.

Mr BK Lane Smith and Mrs SAN Lane-Smith are the directors and shareholders of the company.