Company No: 10667088 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

T A Kent

REGISTERED OFFICE	22 Chancery Lane
	London
	WC2A 1LS
	United Kingdom

COMPANY NUMBER

10667088 (England and Wales)

	Note	2025		2024
		£		£
Current assets
Stocks	4	1,528,228		3,836,448
Debtors	5	382,073		117,418
Cash at bank and in hand		6,642		18,832
		1,916,943		3,972,698
Creditors: amounts falling due within one year	6	( 2,715,934)		( 4,384,268)
Net current liabilities		(798,991)		(411,570)
Total assets less current liabilities		(798,991)		(411,570)
Net liabilities		( 798,991)		( 411,570)
Capital and reserves
Called-up share capital		100		100
Profit and loss account		( 799,091 )		( 411,670 )
Total shareholders' deficit		( 798,991)		( 411,570)

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.

Director's 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 director acknowledges 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 Kilkhampton Land Ltd (registered number: 10667088) were approved and authorised for issue by the Director on 05 December 2025. They were signed on its behalf by:

T A Kent 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

Kilkhampton Land Ltd (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 22 Chancery Lane, London, WC2A 1LS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Going concern

The Company is reliant on funding from entities under common control to provide long-term funding for site acquisitions and short-term funding for working capital. It expects to receive further funding to ensure it may settle its liabilities as they fall due for a period of at least twelve months following approval of these financial statements; consequently, the financial statements have been prepared on a going concern basis.

Turnover

Turnover is recognised to the extent it is probable that the economic benefits will flow to the group and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable. The following criteria must also be met before turnover is recognised:

Property sales are recognised in the Profit and Loss Account on the date of completion, except for contract sales which are recognised when a valuation is issued, exclusive of value added tax and discounts.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so 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.

Taxation

Current tax
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Stocks

Property held for development and subsequent sale is classified as stock. This includes land, work in progress, and completed units intended for sale in the ordinary course of business. Property development stock is initially recognised at cost, which includes the purchase price of land, professional fees, direct construction costs and directly attributable overheads incurred in bringing the property to its current condition. Directly attributable overheads are allocated to individual developments on the basis of time spent by management on each site or the number of units per site as a percentage of total units under construction, depending on the nature of the overhead and development activity. Property development stock is subsequently measured at the lower of cost and estimated selling price less costs to complete and sell.

Other stock comprises building materials used in the provision of construction services, which is stated at cost, less provision for impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2.Transition to FRS102

For the year ended 31 March 2025, the company has transitioned its financial reporting framework from FRS 105: The Financial Reporting Standard applicable to the Micro-entities Regime to FRS 102 Section 1A: The Financial Reporting Standard applicable to the Small Entities Regime.

The adoption of FRS 102 Section 1A has resulted in the adoption of new accounting policies and the inclusion of additional disclosures. No restatement of comparative figures has been required.

3. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the company during the year, including the director	1		1

4. Stocks

	2025		2024
	£		£
Work in progress	1,528,228		3,836,448

5. Debtors

	2025		2024
	£		£
Trade debtors	10,634		10,616
Amounts owed by group undertakings	260,121		0
Other debtors	111,318		106,802
	382,073		117,418

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	1,437		118,572
Amounts owed to group undertakings	420,410		417,401
Amounts owed to connected companies	2,291,738		2,111,489
Other creditors	2,349		1,736,806
	2,715,934		4,384,268

Other creditors includes a secured loan with a value at the balance sheet date of £nil (2024 - £1,727,137). The loan, which was repaid in the year, was secured against the shares of Kilkhampton Land Ltd and the construction site included under current assets.