Company No: 01841780 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	617,869		680,300
		617,869		680,300
Current assets
Stocks	4	1,265,483		1,633,060
Debtors	5	20,269		31,275
Cash at bank and in hand		382,209		225,526
		1,667,961		1,889,861
Creditors: amounts falling due within one year	6	( 1,033,446)		( 1,115,545)
Net current assets		634,515		774,316
Total assets less current liabilities		1,252,384		1,454,616
Creditors: amounts falling due after more than one year	7	( 51,920)		( 62,906)
Provision for liabilities		( 68,949)		( 108,204)
Net assets		1,131,515		1,283,506
Capital and reserves
Called-up share capital		106		106
Revaluation reserve		329,059		331,599
Profit and loss account		802,350		951,801
Total shareholders' funds		1,131,515		1,283,506

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of R E Pearce Properties Limited (registered number: 01841780) were approved and authorised for issue by the Board of Directors on 10 October 2025. They were signed on its behalf by:

M R R Pearce Director		L M Pearce Director
R E Pearce Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

R E Pearce Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is South Western Business Park, Sherborne, Dorset, DT9 3PS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised on the sales completion date for housing developments and as the contract
activity progresses for contracted work.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	100 years straight line
Plant and machinery etc.	15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	7		13

3. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 April 2024	525,000		595,057		1,120,057
Additions	0		26,478		26,478
Disposals	0		( 173,933)		( 173,933)
At 31 March 2025	525,000		447,602		972,602
Accumulated depreciation
At 01 April 2024	10,500		429,257		439,757
Charge for the financial year	5,250		17,696		22,946
Disposals	0		( 107,970)		( 107,970)
At 31 March 2025	15,750		338,983		354,733
Net book value
At 31 March 2025	509,250		108,619		617,869
At 31 March 2024	514,500		165,800		680,300

Revaluation of tangible assets

Included within the net book value of land and buildings above is £509,250 (2024 - £514,500) in respect of freehold land and buildings. Freehold land and buildings were professionally valued by Symonds & Sampson, an independent valuer, to have an open market value of £525,000 at 11 August 2022. Had this class of asset been measured on a historical cost basis, the carrying amount would have been £106,029 (2024 - £107,426).

	2025		2024
	£		£
Historical cost	139,779		139,779
Accumulated depreciation	(33,750)		(32,353)
Carrying value	106,029		107,426

4. Stocks

	2025		2024
	£		£
Work in progress	1,265,483		1,633,060

5. Debtors

	2025		2024
	£		£
Corporation tax	0		3,539
Other debtors	20,269		27,736
	20,269		31,275

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans (secured)	6,829		6,361
Trade creditors	24,516		37,822
Other taxation and social security	4,025		10,711
Obligations under finance leases and hire purchase contracts	10,100		17,596
Other creditors	987,976		1,043,055
	1,033,446		1,115,545

Other creditors include an amount of £440,000 (2024 -£440,000) which is secured

The bank loans are secured by way of a fixed charge over the company's assets and guarantees provided by the directors.

Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans (secured)	48,453		55,282
Obligations under finance leases and hire purchase contracts	3,467		7,624
	51,920		62,906

The bank loans are secured.

Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.

8. Related party transactions

Transactions with the entity's directors

Advances

At 1 April 2024 the balance owed from the directors was £nil. During the year, the company made advances to directors amounting to £4,424 and received repayments of £4,424 leaving a balance due from the directors of £nil.

At 1 April 2023 the balance owed from the directors was £nil. During the year, the company made advances to directors amounting to £5,578 and received repayments of £5,578 leaving a balance due from the directors of £nil.

The Directors loan accounts are repayable on demand and interest has been charged on overdrawn balances exceeding £10,000 at the official HMRC rates.