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Company Registration No. 04354608 (England and Wales)
Nether Developments Limited Unaudited accounts for the year ended 31 March 2025
Nether Developments Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Nether Developments Limited Company Information for the year ended 31 March 2025
Directors
John Duggleby Gail Duggleby
Secretary
Mrs Gail Duggleby
Company Number
04354608 (England and Wales)
Registered Office
The Milling House, 2 St Andrews Walk Foston-On-The-Wolds Driffield East Yorkshire YO25 8FJ England
Accountants
Wright Pottage Limited Europa House 20 Esplanade Scarborough North Yorkshire YO11 2AQ
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Nether Developments Limited Statement of financial position as at 31 March 2025
2025
2024
Notes
£
£
Fixed assets
Investment property
4
1,810,622
1,670,000
Current assets
Debtors
5
1,381
101,203
Cash at bank and in hand
8,954
86,115
10,335
187,318
Creditors: amounts falling due within one year
6
(3,859)
(16,119)
Net current assets
6,476
171,199
Total assets less current liabilities
1,817,098
1,841,199
Creditors: amounts falling due after more than one year
7
(1,235,375)
(1,236,704)
Provisions for liabilities
Deferred tax
(74,560)
(74,560)
Net assets
507,163
529,935
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
507,063
529,835
Shareholders' funds
507,163
529,935
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 November 2025 and were signed on its behalf by
John Duggleby Director Company Registration No. 04354608
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Nether Developments Limited Notes to the Accounts for the year ended 31 March 2025
1
Statutory information
Nether Developments Limited is a private company, limited by shares, registered in England and Wales, registration number 04354608. The registered office is The Milling House, 2 St Andrews Walk, Foston-On-The-Wolds, Driffield, East Yorkshire, YO25 8FJ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover represents rental income receiveable during the year.
Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. The methods and significant assumptions used to ascertain the fair value of £1,835,000 and fair value movement of £25,000 included in the profit for the year are included within the investment property note.
Deferred taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
4
Investment property
2025
£
Fair value at 1 April 2024
1,670,000
Additions
140,622
At 31 March 2025
1,810,622
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Nether Developments Limited Notes to the Accounts for the year ended 31 March 2025
5
Debtors
2025
2024
£
£
Amounts falling due within one year
Accrued income and prepayments
1,381
1,203
Other debtors
-
100,000
1,381
101,203
6
Creditors: amounts falling due within one year
2025
2024
£
£
Taxes and social security
-
12,860
Other creditors
2,059
2,059
Accruals
1,800
1,200
3,859
16,119
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
1,235,375
1,236,704
8
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Controlling party
The company was controlled throughout the current and preceding year by J Duggleby and Mrs G Duggleby, who own 100% of the issued share capital.
10
Average number of employees
During the year the average number of employees was 2 (2024: 2).
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