REGISTERED NUMBER: 10645757 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

NUMBER ONE DEVELOPMENT LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr N P Briant

REGISTERED OFFICE:

85 Ringwood Road

Poole

Dorset

BH14 0RH

REGISTERED NUMBER:

10645757 (England and Wales)

ACCOUNTANTS:

Lewis Brownlee (Chichester) Limited

Chartered Accountants

Appledram Barns

Birdham Road

Chichester

West Sussex

PO20 7EQ

FIXED ASSETS

Investment property

4

1,670,000

1,600,000

CURRENT ASSETS

Debtors

5

417,992

114,853

Cash at bank

687

810

418,679

115,663

CREDITORS

Amounts falling due within one year

6

364,476

323,452

NET CURRENT ASSETS/(LIABILITIES)

54,203

(207,789

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,724,203

1,392,211

CREDITORS

Amounts falling due after more than one year

7

(1,293,784

)

(920,374

)

PROVISIONS FOR LIABILITIES

(109,865

)

(99,510

)

NET ASSETS

320,554

372,327

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

9

298,531

298,531

Retained earnings

22,021

73,794

320,554

372,327

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

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

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 October 2025 and were signed by:

Mr N P Briant - Director

1.	STATUTORY INFORMATION

Number One Development Ltd 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 (£).

The financial statements relate to Number One Development Ltd as an individual entity.

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 as modified by the revaluation of certain assets.

Going concern

The financial statements have been prepared on the going concern basis.

Debts are currently being settled as they fall due. The directors have forecasted future cash flows and are of the opinion the business has sufficient resources to continue trading provided finance support is not withdrawn. The directors believe that they will continue to receive the support of the finance providers. The company has a significant asset on its balance sheet.

Accordingly, they have a reasonable expectation that the business has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

When considering the foreseeable future, the directors are looking at a period of at least 12 months from the date the balance sheet is signed.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover relates to holiday letting income and is recognised when the agreed period of letting occurs. In the event that the letting period spans the period end, turnover is calculated on a daily basis and allocated in accordance with the period in which the property is occupied.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The fair value of the investment property has been arrived at on the basis of a valuation as at 31 March 2023 by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

Financial instruments

Financial instruments are classified by the director as basic or advanced following the conditions in FRS102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

Taxation

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

1,600,000

Additions

70,000

At 31 March 2025

1,670,000

NET BOOK VALUE

At 31 March 2025

1,670,000

At 31 March 2024

1,600,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2023

398,042

Cost

1,271,958

1,670,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

619

671

Other debtors

417,373

114,182

417,992

114,853

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

5,227

5,104

Trade creditors

6,282

3,420

Taxation and social security

52,725

60,349

Other creditors

300,242

254,579

364,476

323,452

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

1,293,784

920,374

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

931,736

913,821

MSP Loan

360,722

-

1,292,458

913,821

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

1,299,011

925,478

The bank loans are secured via a fixed and floating charge over all property and undertakings of the company.

9.

RESERVES

Revaluation

reserve

£

At 1 April 2024

and 31 March 2025

298,531

Transfer to non-distributable reserve

Gains or losses on fair value revaluations of investment property and associated deferred tax have been transferred from retained earnings to a specific non-distributable reserve.