The notes on pages 3 to 7 form part of these financial statements.

For the financial year ended 31 December 2024 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 of its financial statements for the year in question 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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Wickford Development Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Wickford House, The Street, Hatfield Peverel, Essex, CM3 2EH.

The company is not part of a group.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured, which for property sales the company treats as the date at which the sales contract is completed. Revenue is measured at the fair value of the consideration received or receivable, excluding where applicable, discounts, rebates, value added tax and other sales tax.

Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

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.

Work in progress comprises land, infrastructure, construction costs and associated professional fees incurred at the balance sheet date in respect of unsold plots.

Land is included at acquisition cost less any provision for impairment where appropriate. Once development of a site has commenced the cost of the land is spread evenly over the total number of plots for which planning permission has been granted, the appropriate element in respect of unsold plots being carried forward at the balance sheet date.

Construction costs are specific to each plot. Professional fees are spread evenly over the number of plots to which they relate. In addition, significant infrastructure costs are treated in the same way and released to the profit and loss account as a cost, as the plots are developed and sold.

General stocks of materials are valued at cost and are included within stock.

Cash and cash equivalents are basic financial assets and represent the company's liquid funds with its bank.

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities, including debtors, creditors and bank balances. Basic short term financial assets are measured at the transaction price, less any impairment and basic short term financial liabilities are measured at the transaction price.

The other financial liabilities of the company include redeemable preference shares, which are disclosed as a long term creditor. The preference shares are measured at transaction price and are not discounted, as they do not have a specified redemption date.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

Other than in respect of work in progress, no significant judgements or estimations have been applied in the preparation of the financial statements.

The average monthly number of persons (including directors) employed by the company during the year was:

Long term creditors represent preference shares, which are redeemable at the shareholders' request.

In 2018, the company removed a small number of trees from part of their Woodlands Park site, alleged to be contrary to the National Woodland Management Plan. The company has vigorously defended its position, but in the event that it is defeated, legal and other costs of in excess of £70,000 could be incurred.

Interest has been charged on the director's loan at the official rate and the loan was repaid in full after the balance sheet date.

The controlling party is B J De'ath.