REGISTERED NUMBER: 06498008 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

Butterfly World Project Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J N E Breheny

S Aziz

SECRETARY:

S Aziz

REGISTERED OFFICE:

Flordon Road

Creeting St. Mary

Ipswich

Suffolk

IP6 8NH

REGISTERED NUMBER:

06498008 (England and Wales)

AUDITORS:

Wright Vigar Limited

Statutory Auditors

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

FIXED ASSETS

Tangible assets

4

3,635,000

3,635,000

CURRENT ASSETS

Debtors

5

16

20

Cash at bank

36,535

39,472

36,551

39,492

CREDITORS

Amounts falling due within one year

6

2,794,737

2,792,857

NET CURRENT LIABILITIES

(2,758,186

)

(2,753,365

)

TOTAL ASSETS LESS CURRENT LIABILITIES

876,814

881,635

CAPITAL AND RESERVES

Called up share capital

7

1,500,001

1,500,001

Share premium

8

1,500,000

1,500,000

Retained earnings

8

(2,123,187

)

(2,118,366

)

SHAREHOLDERS' FUNDS

876,814

881,635

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2025 and were signed on its behalf by:

J N E Breheny - Director

1.	STATUTORY INFORMATION

Butterfly World Project Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts are prepared on a going concern basis which assumes that the ultimate controlling party, Breheny Group Limited, will continue to support the company. If support were not to continue then the basis may not be appropriate. As at 31 March 2024 the companies net current liabilities exceeded its assets by £2,758,186 (2024: £2,753,365).

Tangible fixed assets

In accordance with FRS102 section 17, land and development costs have been measured on the revaluation model. All other classes of asset have been measured on the cost model.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date

Taxation

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Land and

development

costs

£

COST

At 1 April 2024

and 31 March 2025

3,635,000

NET BOOK VALUE

At 31 March 2025

3,635,000

At 31 March 2024

3,635,000

The land and development costs were valued on 31 March 2016 by Lambert Smith Hampton.

The directors have assessed the valuation during the year ended 31 March 2025 and believe it to be accurate.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

16

20

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

2,000

120

Amounts owed to group undertakings

2,366,483

2,366,483

Other creditors

426,254

426,254

2,794,737

2,792,857

7.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2025

2024

value:

£

£

3,000,002

Ordinary

50p

1,500,001

1,500,001

8.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 April 2024

(2,118,366

)

1,500,000

(618,366

)

Deficit for the year

(4,821

)

(4,821

)

At 31 March 2025

(2,123,187

)

1,500,000

(623,187

)

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kevin Shaw BSc FCA (Senior Statutory Auditor)

for and on behalf of Wright Vigar Limited

10.	OTHER FINANCIAL COMMITMENTS

The company is party to an intercompany guarantee agreement, with an unlimited guarantee given by Breheny Group Limited, all subsidiaries within the Breheny Group, and by Breheny Group Plant Limited, Redbourne Homes (Epworth) Limited and Redbourne Homes (Warboys) Limited. This is supported by debentures by Breheny Group Limited, by all subsidiaries within the Breheny Group, and by Breheny Group Plant Limited, Redbourne Homes (Epworth) Limited and Redbourne Homes (Warboys) Limited.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Breheny Group. The parent company is Butterfly World Project (Holdings) Limited. The company's registered office is as follows:

Flordon Road

Creeting St. Mary

Ipswich

Suffolk

IP6 8NH