REGISTERED NUMBER: 10705236 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

Terrasite Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J N E Breheny

R Daff

S Aziz

SECRETARY:

S Aziz

REGISTERED OFFICE:

Flordon Road

Creeting St Mary

Ipswich

Suffolk

IP6 8NH

REGISTERED NUMBER:

10705236 (England and Wales)

AUDITORS:

Wright Vigar Limited

Statutory Auditors

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

FIXED ASSETS

Tangible assets

4

1,177,298

1,261,219

CURRENT ASSETS

Debtors

5

2,571,029

3,140,445

Cash at bank

884,590

687,704

3,455,619

3,828,149

CREDITORS

Amounts falling due within one year

6

3,199,200

3,643,981

NET CURRENT ASSETS

256,419

184,168

TOTAL ASSETS LESS CURRENT LIABILITIES

1,433,717

1,445,387

CREDITORS

Amounts falling due after more than one year

7

(13,684

)

(113,700

)

PROVISIONS FOR LIABILITIES

(293,915

)

(314,425

)

NET ASSETS

1,126,118

1,017,262

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

1,126,018

1,017,162

SHAREHOLDERS' FUNDS

1,126,118

1,017,262

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

Terrasite 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover comprises the value of contracting work executed during the year. The value of contracting work is based on measured valuations, incorporating profit earned to the valuation date and adjusted for any anticipated losses.

The amount by which recorded turnover on uncompleted contracts is in excess of payments on account is classified as amounts recoverable on contracts and separately disclosed in debtors.

The amount by which payments on account on uncompleted contracts is in excess of recorded turnover is classified as long term contract payments on account and separately disclosed in creditors.

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.

Plant and machinery

-

25% on reducing balance

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

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2024 - 32 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2024

1,871,659

Additions

308,870

Disposals

(152,363

)

At 31 March 2025

2,028,166

DEPRECIATION

At 1 April 2024

610,440

Charge for year

316,827

Eliminated on disposal

(76,399

)

At 31 March 2025

850,868

NET BOOK VALUE

At 31 March 2025

1,177,298

At 31 March 2024

1,261,219

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2024

419,308

Disposals

(19,776

)

At 31 March 2025

399,532

DEPRECIATION

At 1 April 2024

165,900

Charge for year

75,403

Eliminated on disposal

(11,231

)

At 31 March 2025

230,072

NET BOOK VALUE

At 31 March 2025

169,460

At 31 March 2024

253,408

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

928,386

1,267,469

Amounts owed by group undertakings

180

180

Amounts recoverable on contracts

349,837

290,716

Retentions

1,053,643

1,309,871

Other debtors

238,983

272,209

2,571,029

3,140,445

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

100,016

106,269

Provisions for future costs

127,030

305,493

Trade creditors

960,532

896,185

Amounts owed to group undertakings

1,806,532

1,981,395

Taxation and social security

90,531

120,991

Other creditors

114,559

233,648

3,199,200

3,643,981

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

13,684

113,700

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

113,700

219,969

The debts are secured over the assets concerned.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

75

Ordinary

£1

75

76

15

B Ordinary

£1

15

15

10

C Ordinary

£1

10

9

100

100

10.	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

11.	CAPITAL COMMITMENTS

2025

2024

£

£

Contracted but not provided for in the

financial statements

63,163

-

12.	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.

13.	ULTIMATE CONTROLLING PARTY

The Parent Company is Breheny Group Ltd. The company's registered office is as follows:

Flordon Road

Creeting St Mary

Needham Market

Ipswich

Suffolk

IP6 8NH