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REGISTERED NUMBER: 11536475 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th November 2024

for

TERRY DEVELOPMENTS LTD

TERRY DEVELOPMENTS LTD (REGISTERED NUMBER: 11536475)

Contents of the Financial Statements
for the Year Ended 30th November 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TERRY DEVELOPMENTS LTD

Company Information
for the Year Ended 30th November 2024







DIRECTORS: Mr A P Earp
Mrs L Earp





REGISTERED OFFICE: 4 Clews Road
Redditch
Worcestershire
B98 7ST





REGISTERED NUMBER: 11536475 (England and Wales)





ACCOUNTANTS: Hayward Wright Ltd
4 Clews Road
Redditch
Worcestershire
B98 7ST

TERRY DEVELOPMENTS LTD (REGISTERED NUMBER: 11536475)

Balance Sheet
30th November 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 675,918 675,918
Investment property 6 3,286,421 3,286,421
3,962,339 3,962,339

CURRENT ASSETS
Debtors 7 1,252,550 1,278,482
Cash at bank 4,871 10,862
1,257,421 1,289,344
CREDITORS
Amounts falling due within one year 8 261,681 262,205
NET CURRENT ASSETS 995,740 1,027,139
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,958,079

4,989,478

CREDITORS
Amounts falling due after more than one
year

9

(3,845,272

)

(3,939,539

)

PROVISIONS FOR LIABILITIES 11 (191,338 ) (191,338 )
NET ASSETS 921,469 858,601

CAPITAL AND RESERVES
Called up share capital 12 200 200
Fair value reserve 13 859,287 859,287
Retained earnings 61,982 (886 )
SHAREHOLDERS' FUNDS 921,469 858,601

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 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.

TERRY DEVELOPMENTS LTD (REGISTERED NUMBER: 11536475)

Balance Sheet - continued
30th November 2024


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 31st July 2025 and were signed on its behalf by:





Mr A P Earp - Director


TERRY DEVELOPMENTS LTD (REGISTERED NUMBER: 11536475)

Notes to the Financial Statements
for the Year Ended 30th November 2024


1. STATUTORY INFORMATION

Terry Developments Ltd 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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 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.

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 2 (2023 - 2 ) .

TERRY DEVELOPMENTS LTD (REGISTERED NUMBER: 11536475)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2024


4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st December 2023
and 30th November 2024 1,317
DEPRECIATION
At 1st December 2023
and 30th November 2024 1,317
NET BOOK VALUE
At 30th November 2024 -
At 30th November 2023 -

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st December 2023
and 30th November 2024 675,918
NET BOOK VALUE
At 30th November 2024 675,918
At 30th November 2023 675,918

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

Quality Homes (Selly Oak)Limited
Registered office: 4 Clews Road, Redditch, Worcestershire, B98 7ST
Nature of business: Property Rental
%
Class of shares: holding
Ordinary Voting 50.00
2024 31/3/23
£    £   
Aggregate capital and reserves 1,402,682 1,506,080
Profit for the year 52,502 63,844

F C Powell (Properties) Ltd
Registered office: 4 Clews Road, Redditch, Worcestershire, B98 7ST
Nature of business: Property Rental
%
Class of shares: holding
Ordinary A Voting 50.00
Ordinary B non voting 50.00
2024 31/12/22
£    £   
Aggregate capital and reserves 175,470 171,600
Profit for the year 14,370 11,380

TERRY DEVELOPMENTS LTD (REGISTERED NUMBER: 11536475)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2024


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st December 2023
and 30th November 2024 3,286,421
NET BOOK VALUE
At 30th November 2024 3,286,421
At 30th November 2023 3,286,421

Fair value at 30th November 2024 is represented by:
£   
Valuation in 2020 1,060,848
Cost 2,225,573
3,286,421

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,246,951 1,275,051
Prepayments 5,599 3,431
1,252,550 1,278,482

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 10) 65,584 75,103
Tax (11,888 ) -
Other creditors 169,984 133,709
Directors' current accounts 32,387 51,000
Accrued expenses 5,614 2,393
261,681 262,205

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 10) 3,845,272 3,939,539

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,594,944 3,451,241

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 65,584 75,103

TERRY DEVELOPMENTS LTD (REGISTERED NUMBER: 11536475)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2024


10. LOANS - continued
2024 2023
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 2,099,544 76,438

Amounts falling due between two and five years:
Bank loans - 2-5 years 150,784 411,860

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,594,944 3,451,241

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Tax losses carried forward (10,223 ) (10,223 )
Other timing differences 201,561 201,561
191,338 191,338

Deferred
tax
£   
Balance at 1st December 2023 191,338
Balance at 30th November 2024 191,338

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary A £1 100 100
100 Ordinary B £1 100 100
200 200

13. RESERVES
Fair
value
reserve
£   
At 1st December 2023
and 30th November 2024 859,287