Caseware UK (AP4) 2024.0.164 2024.0.164 2025-02-28 2025-02-28 2 true 2024-02-29 false No description of principal activity 2 true The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08901562 2024-02-29 2025-02-28 08901562 2023-03-01 2024-02-28 08901562 2025-02-28 08901562 2024-02-28 08901562 c:Director1 2024-02-29 2025-02-28 08901562 d:FreeholdInvestmentProperty 2024-02-29 2025-02-28 08901562 d:FreeholdInvestmentProperty 2025-02-28 08901562 d:FreeholdInvestmentProperty 2024-02-28 08901562 d:FreeholdInvestmentProperty 2 2024-02-29 2025-02-28 08901562 d:CurrentFinancialInstruments 2025-02-28 08901562 d:CurrentFinancialInstruments 2024-02-28 08901562 d:Non-currentFinancialInstruments 2025-02-28 08901562 d:Non-currentFinancialInstruments 2024-02-28 08901562 d:CurrentFinancialInstruments d:WithinOneYear 2025-02-28 08901562 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-28 08901562 d:Non-currentFinancialInstruments d:AfterOneYear 2025-02-28 08901562 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-28 08901562 d:ShareCapital 2025-02-28 08901562 d:ShareCapital 2024-02-28 08901562 d:InvestmentPropertiesRevaluationReserve 2024-02-29 2025-02-28 08901562 d:InvestmentPropertiesRevaluationReserve 2025-02-28 08901562 d:InvestmentPropertiesRevaluationReserve 2024-02-28 08901562 d:RetainedEarningsAccumulatedLosses 2024-02-29 2025-02-28 08901562 d:RetainedEarningsAccumulatedLosses 2025-02-28 08901562 d:RetainedEarningsAccumulatedLosses 2024-02-28 08901562 d:OtherDeferredTax 2025-02-28 08901562 d:OtherDeferredTax 2024-02-28 08901562 c:FRS102 2024-02-29 2025-02-28 08901562 c:AuditExemptWithAccountantsReport 2024-02-29 2025-02-28 08901562 c:FullAccounts 2024-02-29 2025-02-28 08901562 c:PrivateLimitedCompanyLtd 2024-02-29 2025-02-28 08901562 d:EntityControlledByKeyManagementPersonnel1 2024-02-29 2025-02-28 08901562 d:EntityControlledByKeyManagementPersonnel1 2023-03-01 2024-02-28 08901562 d:EntityControlledByKeyManagementPersonnel1 2024-02-28 08901562 d:EntityControlledByKeyManagementPersonnel2 2024-02-29 2025-02-28 08901562 d:EntityControlledByKeyManagementPersonnel2 2025-02-28 08901562 d:EntityControlledByKeyManagementPersonnel2 2024-02-28 08901562 d:EntityControlledByKeyManagementPersonnel3 2024-02-29 2025-02-28 08901562 2 2024-02-29 2025-02-28 08901562 f:PoundSterling 2024-02-29 2025-02-28 iso4217:GBP xbrli:pure

Registered number: 08901562 NORFOLK LAND DEVELOPMENT LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 28 FEBRUARY 2025
NORFOLK LAND DEVELOPMENT LIMITED CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF NORFOLK LAND DEVELOPMENT LIMITED FOR THE YEAR ENDED 28 FEBRUARY 2025 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Norfolk Land Development Limited for the year ended 28 February 2025 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation. This report is made solely to the Board of directors of Norfolk Land Development Limited, as a body, in accordance with the terms of our engagement letter dated 7 March 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Norfolk Land Development Limited and state those matters that we have agreed to state to the Board of directors of Norfolk Land Development Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Norfolk Land Development Limited and its Board of directors, as a body, for our work or for this report. It is your duty to ensure that Norfolk Land Development Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Norfolk Land Development Limited. You consider that Norfolk Land Development Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or review of the financial statements of Norfolk Land Development Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. MA Partners LLP Chartered Accountants 7 The Close Norwich Norfolk NR1 4DJ 12 October 2025 Page 1
NORFOLK LAND DEVELOPMENT LIMITED REGISTERED NUMBER: 08901562 BALANCE SHEET AS AT 28 FEBRUARY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investment property | 4 |  | 15,943,682 |  | 13,757,362
Current assets |  |  |  |  |
Stocks | 5 | 1,383,053 |  | 1,743,559 |
Debtors: amounts falling due within one year | 6 | 308,681 |  | 117,910 |
Bank and cash balances |  | 122,342 |  | 129,691 |
|  | 1,814,076 |  | 1,991,160 |
Creditors: amounts falling due within one year | 7 | (565,131) |  | (1,097,580) |
Net current assets |  |  | 1,248,945 |  | 893,580
Total assets less current liabilities |  |  | 17,192,627 |  | 14,650,942
Creditors: amounts falling due after more than one year | 8 |  | (11,454,908) |  | (8,877,886)
Provisions for liabilities |  |  |  |  |
Deferred tax | 9 |  | (1,278,837) |  | (1,325,042)
Net assets |  |  | 4,458,882 |  | 4,448,014
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Investment property revaluation reserve | 10 |  | 2,971,242 |  | 3,109,856
Profit and loss account | 10 |  | 1,487,540 |  | 1,338,058
|  |  | 4,458,882 |  | 4,448,014
Page 2
NORFOLK LAND DEVELOPMENT LIMITED REGISTERED NUMBER: 08901562 BALANCE SHEET (CONTINUED) AS AT 28 FEBRUARY 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. 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. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Mr A W Scales
Director
Date: 12 October 2025
The notes on pages 4 to 9 form part of these financial statements. Page 3
NORFOLK LAND DEVELOPMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
1. | General information
Norfolk Land Development Limited is a private company limited by shares and registered, domiciled and incorporated in England and Wales. The address of the Company's registered office and the Company's principal place of business is Trafalgar House, Dereham, Norfolk, NR19 1JG. The Company's principal activity continues to be the development of residential properties for onward sale, and commercial properties for investment purposes. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Revenue is recognised as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and any other sales tax. Revenue from the sale of residential properties is recognised on legal completion. Rental income arising on investment properties is accounted for on a straight-line basis over the term of the lease.
| 2.3 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.4 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. Page 4
NORFOLK LAND DEVELOPMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 2.Accounting policies (continued)
| 2.5 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.6 | Investment property
Investment property is carried at fair value determined annually by the Directors in conjunction with external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of income and retained earnings.
| 2.7 | Stocks
The cost of work in progress and finished properties includes direct labour costs and production overheads appropriate to the stage of completion. Net realisable value is calculated as the estimated selling price less costs to complete and sell.
| 2.8 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Page 5
NORFOLK LAND DEVELOPMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 2.Accounting policies (continued)
| 2.9 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.10 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.11 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
3. | Employees
| The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
Page 6
NORFOLK LAND DEVELOPMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
4. | Investment property
|  | Freehold investment property
|  | £
| Valuation |
| At 29 February 2024 | 13,757,362
| Additions at cost | 2,371,139
| Deficit on revaluation | (184,819)
| At 28 February 2025 | 15,943,682
The 2025 valuations were made by the directors, on an open market value for existing use basis.
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Revaluation reserves |  |
| At 29 February 2024 | 3,109,856 | 2,574,403
| Net (deficit)/surplus in movement | (138,614) | 535,453
| At 28 February 2025 | 2,971,242 | 3,109,856
5. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Work in progress | 1,383,053 | 1,743,559
|  | 1,383,053 | 1,743,559
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 267,032 | 7,186
| Other debtors | 33,590 | 91,034
| Prepayments and accrued income | 8,059 | 19,690
|  | 308,681 | 117,910
Page 7
NORFOLK LAND DEVELOPMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 163,488 | 632,027
| Accruals and deferred income | 122,714 | 75,660
| Corporation tax | 108,522 | 358,207
| Other creditors | 57,975 | 26,983
| Payments received on account | 57,136 | -
| Other taxation and social security | 55,296 | 4,703
|  | 565,131 | 1,097,580
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other creditors | 8,711,168 | 6,850,228
| Accruals and deferred income | 2,743,740 | 2,027,658
|  | 11,454,908 | 8,877,886
Page 8
NORFOLK LAND DEVELOPMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
9. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | 1,325,042
| Charged to profit or loss | (46,205)
| At end of year | 1,278,837
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Revaluation of investment property | 1,278,837 | 1,325,042
|  | 1,278,837 | 1,325,042
10. | Reserves
Investment property revaluation reserve The reserve records the cumulative changes in fair value of investment properties. Profit and loss account This reserve records retained earnings and accumulated losses.
11. | Related party transactions
| S.C.W.S. Limited is a related party by virtue of common directorships and common shareholdings in the ultimate parent undertaking of S.C.W.S. Limited. During the year, the Company made purchases of £393,327 (2024 - £209,558) from the related party. At the reporting date, a balance of £Nil (2024 - £251,502) was owed to the related party. At 28 February 2025, a balance of £8,711,168 (2024 - £6,850,228) was owed to the shareholders. Interest is accrued on the loans at a market rate. The loans are included as other creditors in note 8 to the financial statements. SCWS (Holdings) Limited Executive Pension Scheme is a related party by virtue of a director of Norfolk Land Development Limited also being a Trustee of the Pension Scheme. During the year, the Company made sales of £540,000 (2024 - £nil) to the related party.
Page 9