Company No: 14360275 (England and Wales)

Contents

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

DIRECTORS	S R Briggs (Resigned 23 June 2025)
	J G C Cribb
	H E Knights (Resigned 23 June 2025)
	M J Mace
	T R Tassie
	M E Williams

REGISTERED OFFICE	Woodsend Barn
	Beetley
	Dereham
	NR20 4DG
	United Kingdom

COMPANY NUMBER

14360275 (England and Wales)

CHARTERED ACCOUNTANTS	Larking Gowen LLP
	Summerhill House
	1 Sculthorpe Road
	Fakenham
	NR21 9HA

	Note	30.09.2024		30.09.2023
		£		£
Current assets
Stocks		1,003,463		677,397
Debtors	3	38,121		56,459
Cash at bank and in hand		1,910		866
		1,043,494		734,722
Creditors: amounts falling due within one year	4	( 1,049,232)		( 736,695)
Net current liabilities		(5,738)		(1,973)
Total assets less current liabilities		(5,738)		(1,973)
Net liabilities		( 5,738)		( 1,973)
Capital and reserves
Called-up share capital		12		12
Profit and loss account		( 5,750 )		( 1,985 )
Total shareholders' deficit		( 5,738)		( 1,973)

For the financial year ending 30 September 2024 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 Income Statement has not been delivered.

The financial statements of St Marys Developments (Norfolk) Limited (registered number: 14360275) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

M J Mace Director

T R Tassie Director

24 September 2025

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 period, unless otherwise stated.

General information and basis of accounting

St Marys Developments (Norfolk) 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 Woodsend Barn, Beetley, Dereham, NR20 4DG, 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 Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £5,738. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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 current 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

2. Employees

	Year ended 30.09.2024		Period from 16.09.2022 to 30.09.2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	6		6

3. Debtors

	30.09.2024		30.09.2023
	£		£
Other debtors	38,121		56,459

4. Creditors: amounts falling due within one year

	30.09.2024		30.09.2023
	£		£
Trade creditors	36,960		27,070
Amounts owed to directors	325,340		239,988
Other loans (secured)	680,268		467,887
Accruals	1,800		1,750
Other creditors	4,864		0
	1,049,232		736,695

The loan included within other loans is secured upon the property that is being developed and a fixed charge is registered.

5. Related party transactions

At the year end the Company owed the directors £325,340 (2023: £239,988), the amount is interest free and repayable on demand.

6. Events after the Balance Sheet date

During the period after the balance sheet date, on 23 June 2025, the Company allotted 8 ordinary shares at a nominal value of £1 each. This event does not impact the financial position as at 30 September 2024.