Stowford Mill Development Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 08945690

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS

CURRENT ASSETS
Stocks	5	1,940,464		3,204,322
Debtors	6	43,204		40,000
Cash at bank and in hand		449,462		1,144,422

		2,433,130		4,388,744
Creditors: Amounts Falling Due Within One Year	7	(4,407,589 )		(4,130,655 )

NET CURRENT ASSETS (LIABILITIES)			(1,974,459 )		258,089

TOTAL ASSETS LESS CURRENT LIABILITIES			(1,974,459 )		258,089

Creditors: Amounts Falling Due After More Than One Year	8		(3,545,174 )		(3,875,081 )

NET LIABILITIES			(5,519,633 )		(3,616,992 )

CAPITAL AND RESERVES
Called up share capital	10		2,000,200		2,000,200
Profit and Loss Account			(7,519,833 )		(5,617,192 )

SHAREHOLDERS' FUNDS			(5,519,633)		(3,616,992)

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Stowford Mill Development Limited

Balance Sheet (continued)

As At 31 March 2025

For the 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.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr M D Edworthy Director	Mr P N Scantlebury Director
18 September 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Stowford Mill Development Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08945690 . The registered office is Winslade House, Winslade Drive, Clyst St Mary, EX5 1FY.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

As at the year end, the Company’s balance sheet shows an overall deficiency of assets of £5,519,633 (2024: £3,616,992) and so accordingly the Directors have had to consider the basis upon which the accounts should be prepared and determine whether a going concern basis remains appropriate. The Directors and their associated companies have continued to support the company financially and with the support of the Company’s secured lenders, have been able to complete the development and sale of the current phase of the Company’s property development. The Directors are seeking to secure alternative funding to take the next phase of the property development forward and so accordingly the accounts have been prepared on a going concern basis. The Directors have also reviewed the position for twelve months from the date the accounts were approved.

2.3. Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	15% Reducing balance
Computer Equipment	33% Straight Line

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Pensions

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognized as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognized as a prepayment.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2024: 3)

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Stowford Mill Development Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Tangible Assets

	Fixtures & Fittings
	£
Cost
As at 1 April 2024	333

As at 31 March 2025	333

Depreciation
As at 1 April 2024	333

As at 31 March 2025	333

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	-

5. Stocks

	2025	2024
	£	£
Work in progress	1,940,464	3,204,322

6. Debtors

	2025	2024
	£	£
Due within one year
Other debtors	43,204	40,000

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	125,387	197,836
Bank loans and overdrafts	3,840	8,160
Other creditors	4,260,870	3,875,824
Taxation and social security	17,492	48,835

	4,407,589	4,130,655

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	3,545,174	3,875,081

9. Secured Creditors

Of the creditors the following amounts are secured against the property held in the stock and work in progress value held in the accounts.

	2025		2024
	£		£
Bank loans and overdrafts	3,528,875		3,859,205

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Stowford Mill Development Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2,000,200	2,000,200

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