REGISTERED NUMBER: 07137595 (England and Wales)

Strategic Report, Report of the Director and

Financial Statements

for the Year Ended 30 September 2024

for

L J Developments (South West) Ltd

Page

Company Information

1

Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

5

Statement of Income and Retained Earnings

9

Balance Sheet

10

Cash Flow Statement

11

Notes to the Financial Statements

12

DIRECTOR:

Mr L R Adams

REGISTERED OFFICE:

Rolle Road

Torrington

Devon

EX38 8AU

REGISTERED NUMBER:

07137595 (England and Wales)

AUDITORS:

Sumer Auditco Ltd

Statutory Auditors

69 High Street

Bideford

Devon

EX39 2AT

The director presents his strategic report for the year ended 30 September 2024.

REVIEW OF BUSINESS

Turnover for the period increased by 9.4% on a pro rata basis from £11,691,321 (18 months) to £8,526,562 (12 months). The director considers this another exceptional result.

Gross profit margins have increased from 21.71% to 32.46% and profit before taxation has increased from £122,191 to £848,130. This is primarily as a result of the Bloor construction contract that commenced during the year and an increase in demand for surfacing work during the year.

The net shareholders value has risen by £635,910 to £1,980,392 over the year.

RESULTS

The results for the period are set out in the statement of comprehensive income on page 9.

PRINCIPAL RISKS AND UNCERTAINTIES

The director considers the main risks to the business to be linked to market forces within the construction industry as a whole. This includes demand in the housing market and competition for good quality workers. The director is optimistic that the Bloor contract will help to mitigate much of this risk due to their national footprint and significant financial backing enabling them to press on with construction contacts where other smaller local developers may need to pause or reduce work during periods of slower demand. With inflation declining back to pre-covid levels and a reduction in borrowing costs the director is optimistic that will in turn provide a welcome boost to the housing market.

The director is not aware of any significant risks or uncertainties which would cast significant doubt about the ability of the company to continue as a going concern.

FUTURE DEVELOPMENTS

The company continues to look for opportunities for further expansion and in particular will look to secure the completion of the quarry acquisition in order to secure the long term sustainability and future of the business.

SIGNED ON BEHALF OF THE BOARD:

Mr L R Adams - Director

19 September 2025

The director presents his report with the financial statements of the company for the year ended 30 September 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of specialised construction activities, including groundworks, surfacing, civil engineering and property development.

DIVIDENDS

No dividends will be distributed for the year ended 30 September 2024.

DIRECTOR

Mr L R Adams held office during the whole of the period from 1 October 2023 to the date of this report.

DISCLOSURE IN THE STRATEGIC REPORT

Particulars of the financial risk management objectives and policies of the company and future developments are set out in the strategic report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

SIGNED ON BEHALF OF THE BOARD:

Mr L R Adams - Director

19 September 2025

Qualified Opinion

We have audited the financial statements of L J Developments (South West) Ltd (the 'company') for the year ended 30 September 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion, except for the possible effects of the matters described in the Basis for Qualified Opinion section of our report, the accompanying financial statements:

- give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for qualified opinion

We were not appointed as auditor of the company until after 30 September 2023 and thus did not observe the counting of physical inventories at the beginning or end of the period. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 March 2022 and 30 September 2023, which are included in the balance sheet at £363,245 and £160,504 respectively, by using other audit procedures. Consequently we were unable to determine whether any adjustment to these amounts were necessary or whether there was any consequential effect on the cost of sales for the year ended 30 September 2024 and also for the period ended 30 September 2023. Our audit opinion on the financial statements for the year ended 30 September 2024 and also for the period ended 30 September 2023 has been modified accordingly.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Key audit matters

Except for the matter described in the basis for qualified opinion section, we have determined that there are no key audit matters to be communicated in our report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

As described in the basis for qualified opinion of our report, we were unable to satisfy ourselves concerning the inventory quantities held at 31 March 2022 and 30 September 2023, which are included in the balance sheet at £363,245 and £160,504 respectively. We have concluded that where the other information refers to the inventory balance or related balances such as cost of sales, it may be materially misstated for the same reason.

Opinions on other matters prescribed by the Companies Act 2006

We were not appointed as auditor of the company until after 30 September 2023 and thus did not observe the counting of physical inventories at the beginning or end of the period. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 March 2022 and 30 September 2023, which are included in the balance sheet at £363,245 and £160,504 respectively, by using other audit procedures.

Consequently we were unable to determine whether any adjustment to these amounts were necessary or whether there was any consequential effect on the cost of sales for the year ended 30 September 2024 and also for the period ended 30 September 2023. In addition, were any adjustments to the stock and work in progress balance to be required, the strategic report would also need to be amended.

Except for the possible effects of the matters described in the basis for qualified opinion section of our report, in our opinion, based on the work undertaken in the course of the audit:

- the information given in the Strategic Report and the Report of the Directors for the financial period for which the financial statements are prepared is consistent with the financial statements; and

- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

Except for the matter described in the basis for qualified opinion section of our report, in the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the director's report.

Arising solely from the limitation on the scope of our work relating to inventory, referred to above:

- we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and

- we were unable to determine whether adequate accounting records have been kept.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- returns adequate for our audit have not been received by branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As part of designing our audit, we determined materiality and assessed the risks of material misstatement in the financial statements, including how fraud may occur by enquiring of management of its own consideration of fraud. We also considered potential financial or other pressures, opportunity and motivations for fraud. As part of this discussion we identified the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations and how management monitor these processes. In common with all audits under UK ISAs we are also required to perform specific procedures to respond to the threat of management override. This work included testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to these laws and regulations, including fraud.

We focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, the Health and Safety Act, UK Companies Act and UK tax legislation.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators and the Company's legal advisors.

We did not identify any key audit matters relating to irregularities, including fraud.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

David Sims BSc FCA (Senior Statutory Auditor)

for and on behalf of Sumer Auditco Ltd

Statutory Auditors

69 High Street

Bideford

Devon

EX39 2AT

23 September 2025

TURNOVER

4

8,526,562

11,691,321

Cost of sales

5,758,821

9,153,506

GROSS PROFIT

2,767,741

2,537,815

Administrative expenses

1,672,697

2,118,161

1,095,044

419,654

Other operating income

21,460

48,594

OPERATING PROFIT

6

1,116,504

468,248

Interest receivable and similar income

110

78

1,116,614

468,326

Interest payable and similar expenses

8

268,484

346,135

PROFIT BEFORE TAXATION

848,130

122,191

Tax on profit

9

212,220

(101,745

)

PROFIT FOR THE FINANCIAL YEAR

635,910

223,936

Retained earnings at beginning of year

1,344,480

1,120,544

RETAINED EARNINGS AT END OF YEAR

1,980,390

1,344,480

FIXED ASSETS

Tangible assets

10

5,957,995

5,127,000

CURRENT ASSETS

Stocks

11

139,036

161,264

Debtors

12

2,023,030

1,206,854

Cash at bank

48,377

46

2,210,443

1,368,164

CREDITORS

Amounts falling due within one year

13

3,012,360

2,370,928

NET CURRENT LIABILITIES

(801,917

)

(1,002,764

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,156,078

4,124,236

CREDITORS

Amounts falling due after more than one year

14

(2,716,794

)

(2,533,082

)

PROVISIONS FOR LIABILITIES

18

(458,892

)

(246,672

)

NET ASSETS

1,980,392

1,344,482

CAPITAL AND RESERVES

Called up share capital

19

2

2

Retained earnings

20

1,980,390

1,344,480

SHAREHOLDERS' FUNDS

1,980,392

1,344,482

The financial statements were approved by the director and authorised for issue on 19 September 2025 and were signed by:

Mr L R Adams - Director

Cash flows from operating activities

Cash generated from operations

24

1,609,958

1,371,127

Interest paid

(50,139

)

(59,378

)

Interest element of hire purchase payments paid

(218,345

)

(286,757

)

Taxation refund

-

7,103

Net cash from operating activities

1,341,474

1,032,095

Cash flows from investing activities

Purchase of tangible fixed assets

(339,687

)

(46,323

)

Sale of tangible fixed assets

322,300

807,558

Interest received

110

78

Net cash from investing activities

(17,277

)

761,313

Cash flows from financing activities

New loans in year

151,827

-

Loan repayments in year

(179,115

)

(110,104

)

HP capital repayments in year

(1,359,825

)

(1,800,096

)

Amount introduced by directors

149,118

384,781

Amount withdrawn by directors

(84,702

)

(371,824

)

Net cash from financing activities

(1,322,697

)

(1,897,243

)

Increase/(decrease) in cash and cash equivalents

1,500

(103,835

)

Cash and cash equivalents at beginning of year

25

(28,059

)

75,776

Cash and cash equivalents at end of year

25

(26,559

)

(28,059

)

1.	STATUTORY INFORMATION

L J Developments (South West) 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.

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" and the Companies Act 2006. There were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the previous period, and also have been consistently applied within the same accounts.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Estimated useful lives

In determining the estimated useful life the company considers the expected usage (capacity or physical output) of the asset, expected physical wear and tear of the asset and expected technical advancements in the industry that could lead to obsolescence of the asset. Each year the company reviews the above to establish if there is any change is expected useful life of tangible assets.The depreciation charge for the year ended 30 September 2024 was £844,423 (2023 - £1,164,112).

Stock provision

Where estimated selling price less costs to complete and sell is lower than cost, a stock provision will be recorded. The estimated selling price is determined with reference to market values.

Provision for doubtful debts

Where estimated amounts receivable is less than the value of the debt included in the accounts, a provision for doubtful debts will be recorded.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

nil on land

Long leasehold

-

10% straight line

Plant and machinery

-

20% straight line and 15% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Stocks

Stocks and work in progress are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

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.

Financial instruments

Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.

Taxation

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

Research and development

Expenditure on research and development is written off in the period in which it is incurred.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The company had net current liabilities of £801,917 (2023 - £1,002,764) at the balance sheet date.

The construction sector, in which the company operates, has by nature low gross margins and high demands on cashflow. The director has prepared forecasts covering the period to 30 September 2026 based on expectations of new contracts and their likely profitability which indicate that the company can continue to operate profitably and within its financing limits, including clearing existing debt, and accordingly have prepared the accounts on the going concern basis. However, inherently there can be no certainty in relation to these matters.

The financial statements do not include any adjustments that would result from an inability to meet obligations as they fall due.

4.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

Period

1.4.22

Year Ended

to

30.9.24

30.9.23

£

£

United Kingdom

8,526,562

11,691,321

8,526,562

11,691,321

5.	EMPLOYEES AND DIRECTORS

Period

1.4.22

Year Ended

to

30.9.24

30.9.23

£

£

Wages and salaries

2,882,072

3,780,391

Social security costs

306,801

409,265

Other pension costs

61,074

85,110

3,249,947

4,274,766

The average number of employees during the year was as follows:

Period

1.4.22

Year Ended

to

30.9.24

30.9.23

Production

62

58

Office, sales and management

7

5

69

63

Period

1.4.22

Year Ended

to

30.9.24

30.9.23

£

£

Director's remuneration

84,000

126,000

Director's pension contributions to money purchase schemes

1,321

1,981

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

1

1

6.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

Period

1.4.22

Year Ended

to

30.9.24

30.9.23

£

£

Hire of plant and machinery

78,090

166,386

Depreciation - owned assets

60,035

58,975

Depreciation - assets on hire purchase contracts

784,388

1,105,137

Profit on disposal of fixed assets

(47,234

)

(122,110

)

7.	AUDITORS' REMUNERATION

Period

1.4.22

Year Ended

to

30.9.24

30.9.23

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

24,000

15,000

8.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

1.4.22

Year Ended

to

30.9.24

30.9.23

£

£

Bank interest

2,765

2,617

Bank loan interest

8,963

23,166

Other interest

38,411

33,595

Hire purchase interest

218,345

286,757

268,484

346,135

9.

TAXATION

Analysis of the tax charge/(credit)

The tax charge/(credit) on the profit for the year was as follows:

Period

1.4.22

Year Ended

to

30.9.24

30.9.23

£

£

Current tax:

UK corporation tax

-

(7,103

)

Deferred tax

212,220

(94,642

)

Tax on profit

212,220

(101,745

)

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge/(credit) included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Period

1.4.22

Year Ended

to

30.9.24

30.9.23

£

£

Profit before tax

848,130

122,191

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 25%)

212,033

30,548

Effects of:

Expenses not deductible for tax purposes

-

5,778

Property depreciation

187

281

Effect of super deductions

-

(136,573

)

Adjustment for 2021 enhanced expenditure claim

-

(1,779

)

Total tax charge/(credit)

212,220

(101,745

)

10.	TANGIBLE FIXED ASSETS

Freehold

Long

Plant and

property

leasehold

machinery

Totals

£

£

£

£

COST

At 1 October 2023

101,368

7,489

7,132,908

7,241,765

Additions

35,184

-

1,915,300

1,950,484

Disposals

-

-

(677,922

)

(677,922

)

At 30 September 2024

136,552

7,489

8,370,286

8,514,327

DEPRECIATION

At 1 October 2023

-

3,478

2,111,287

2,114,765

Charge for year

-

749

843,674

844,423

Eliminated on disposal

-

-

(402,856

)

(402,856

)

At 30 September 2024

-

4,227

2,552,105

2,556,332

NET BOOK VALUE

At 30 September 2024

136,552

3,262

5,818,181

5,957,995

At 30 September 2023

101,368

4,011

5,021,621

5,127,000

Included in cost of land and buildings is freehold land of £ 136,552 (2023 - £ 101,368 ) which is not depreciated.

Freehold property costs relate to costs expended on the proposed acquisition of a freehold quarry site.