REGISTERED NUMBER: 00674932 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

FOR

DAWN DEVELOPMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A G Macdonald

S H Rough

S McConnell

P O'Donnell

REGISTERED OFFICE:

Pinsent Masons

1 Park Row

Leeds

LS1 5AB

REGISTERED NUMBER:

00674932 (England and Wales)

ACCOUNTANTS:

McLay, McAlister & McGibbon (Ayr) Ltd

Arran House

15D Skye Road

Prestwick

Ayrshire

KA9 2TA

BANKERS:

Bank of Scotland

Level 6

110 St Vincent Street

Glasgow

G2 5ER

FIXED ASSETS

Tangible assets

4

-

-

Investments

5

1,390,731

1,390,730

1,390,731

1,390,730

CURRENT ASSETS

Stocks

6

3,170,573

3,233,623

Debtors

7

3,443,981

2,937,555

Cash at bank

1,678,202

243,240

8,292,756

6,414,418

CREDITORS

Amounts falling due within one year

8

6,477,048

6,364,124

NET CURRENT ASSETS

1,815,708

50,294

TOTAL ASSETS LESS CURRENT LIABILITIES

3,206,439

1,441,024

CAPITAL AND RESERVES

Called up share capital

1,295

1,295

Share premium

187,261

187,261

Retained earnings

3,017,883

1,252,468

SHAREHOLDERS' FUNDS

3,206,439

1,441,024

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 30 October 2025 and were signed on its behalf by:

S H Rough - Director

1.	STATUTORY INFORMATION

Dawn Developments 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about Dawn Developments Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates

Key sources of estimation uncertainty

The company make judgements, estimates and assumptions about the carrying amounts of assets and liabilities based on historical experience and other relevant factors and are reviewed on an ongoing basis. Actual outcomes may differ from these estimates. The estimates that have the most significant effect on the amounts recognised in the financial statements are as follows:

Valuation of Work in Progress

Development work in progress is stated at the lower of cost and net realisable value. Net realisable value is based on estimated selling price less the estimated costs of completion and disposal assuming where appropriate that the site will be fully developed and sold in the ordinary course of business. Whilst there is a degree of uncertainty in these estimates, reviews to monitor are carried out regularly.

Basic financial instruments

Trade and other debtors/creditors are recognised initially at transaction price. Subsequent to initial recognition they are measured at amortised cost using the effective interest method. If the arrangement constitutes a financing transaction, where payment is deferred beyond normal business terms, it is measured at present value of future payments discounted at an appropriate market rate of interest.

Turnover

Turnover represents the amount derived from the provision of goods and services falling within the company's activities stated net of value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Investments in subsidiaries and associates

Investments in subsidiary and associate undertakings are recognised at cost.

Stocks and work in progress

Stocks are valued at the lower of cost and net realisable value. Work in progress consists of all land and building project costs on property developments held for eventual resale. The cost of work in progress includes all production overheads and depreciation and the attributable proportion of indirect overheads based on the normal level of activity and where applicable the cost of specific finance. Net realisable value is based on estimated selling price less the estimated costs of completion and disposal assuming where appropriate that sites will be fully developed and sold in the ordinary course of business. Profit on development sales is recognised on completion of the sale of individual properties.

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.

Taxation

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.

Pension costs and other post-retirement benefits

Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

Fixed asset investments

These are stated at the lower of cost or directors' valuation. Provisions are made where necessary to reflect any permanent impairment in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 February 2024

and 31 January 2025

56,980

DEPRECIATION

At 1 February 2024

and 31 January 2025

56,980

NET BOOK VALUE

At 31 January 2025

-

At 31 January 2024

-

5.	FIXED ASSET INVESTMENTS

31.1.25

31.1.24

£

£

Shares in group undertakings

965,580

965,580

Participating interests

400,151

400,150

Other investments not loans

25,000

25,000

1,390,731

1,390,730

Additional information is as follows:

Shares in

Interest

Interest

group

in joint

in

undertakings

venture

associate

Totals

£

£

£

£

COST

At 1 February 2024

965,580

150

400,000

1,365,730

Additions

-

1

-

1

At 31 January 2025

965,580

151

400,000

1,365,731

NET BOOK VALUE

At 31 January 2025

965,580

151

400,000

1,365,731

At 31 January 2024

965,580

150

400,000

1,365,730

Investments (neither listed nor unlisted) were as follows:

31.1.25

31.1.24

£

£

Other investments

25,000

25,000

6.

STOCKS

31.1.25

31.1.24

£

£

Work-in-progress

3,170,573

3,233,623

Work in progress comprises project costs on development sites held for eventual resale. There are no payments received to account on these balances.

7.

DEBTORS

31.1.25

31.1.24

£

£

Amounts falling due within one year:

Trade debtors

5,436

24,459

Amounts owed by group undertakings

816,356

759,936

Amounts owed by participating interests

2,607,110

2,115,299

Other debtors

14,949

37,731

3,443,851

2,937,425

Amounts falling due after more than one year:

Deferred share consideration

130

130

Aggregate amounts

3,443,981

2,937,555

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade creditors

-

1,146

Amounts owed to group undertakings

88,199

610

Tax

295,452

45,397

Social security and other taxes

237,181

72,116

Other creditors

3,828,347

4,220,007

Amounts owed to related companies

2,000,979

1,994,987

Accruals and deferred income

26,890

29,861

6,477,048

6,364,124

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.1.25

31.1.24

£

£

Within one year

10,126

-

10.	RELATED PARTY DISCLOSURES

At the year end interest free loan balances of £3,817,345 (2024 - £4,214,095) were owed to the participators. There are no fixed repayment terms.

11.	ULTIMATE CONTROLLING PARTY

The directors consider DDev Holdings Limited to be the ultimate holding company. The company's registered address is 204 West George Street, Glasgow.

The director Alan G. Macdonald held the majority of the issued ordinary share capital of this company throughout the year.