Company No: 03156905 (England and Wales)

Contents

• Company Information
• Statement of Financial Position
• Notes to the Financial Statements

DIRECTORS	S J McCormick
	C B Reed
	J K Reed
	S Q Reed
	P A Reed (Resigned 12 March 2025)

SECRETARY

A J Reed

REGISTERED OFFICE	22 Wycombe End
	Beaconsfield
	Buckinghamshire
	HP9 1NB
	United Kingdom

COMPANY NUMBER

03156905 (England and Wales)

ACCOUNTANT	S&W Partners (Thames Valley) Limited
	22 Wycombe End
	Beaconsfield
	Buckinghamshire
	HP9 1NB

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	525		0
		525		0
Current assets
Stocks		3,280,367		4,344,213
Debtors
- due within one year	4	1,664,737		86,454
- due after more than one year	4	18,192		78,772
Cash at bank and in hand		1,351,250		1,723,630
		6,314,546		6,233,069
Creditors: amounts falling due within one year	5	( 65,232)		( 74,647)
Net current assets		6,249,314		6,158,422
Total assets less current liabilities		6,249,839		6,158,422
Net assets		6,249,839		6,158,422
Capital and reserves
Called-up share capital	6	100		100
Profit and loss account		6,249,739		6,158,322
Total shareholders' funds		6,249,839		6,158,422

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Service Developments Holdings Limited (registered number: 03156905) were approved and authorised for issue by the Board of Directors on 20 August 2025. They were signed on its behalf by:

C B Reed Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Service Developments Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 22 Wycombe End, Beaconsfield, Buckinghamshire, HP9 1NB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Service Developments Holdings Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for the rental and sale of residential properties, and is shown net of discounts and VAT.

Sale of property
Revenue arises from the development and sale of residential properties to third parties.
Revenue is recognised when the risks and rewards of ownership pass to the customer, which is usually upon legal completion of the contract of sale.

Rental income
Operating lease income from properties held for sale is recognised in profit and loss on a straight-line basis over the lease term.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Work in progress is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises of the cost of the land and/or buildings, direct materials, direct labour costs, and those overheads that have been incurred in bringing the properties to their present condition.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Financial liabilities are derecognised when the Company’s contractual obligations expire or are discharged or cancelled.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	6		6

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 April 2024	24,128		24,128
Additions	630		630
At 31 March 2025	24,758		24,758
Accumulated depreciation
At 01 April 2024	24,128		24,128
Charge for the financial year	105		105
At 31 March 2025	24,233		24,233
Net book value
At 31 March 2025	525		525
At 31 March 2024	0		0

4. Debtors

	2025		2024
	£		£
Debtors: amounts falling due within one year
Amounts owed by related parties	1,646,670		0
Other debtors	18,067		86,454
	1,664,737		86,454
Debtors: amounts falling due after more than one year
Deferred tax asset	18,192		78,772

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	7,288		64
Other taxation and social security	1,793		5,846
Other creditors	56,151		68,737
	65,232		74,647

6. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

7. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Amounts owed by the directors of the company	0		80,550

Interest of £1,295 (2024- £966) has been charged on the amounts owed by the directors at a rate of 2.25%

Other related party transactions

	2025		2024
	£		£
Loan to company owned by a director	1,646,670		0