REGISTERED NUMBER: 09415961 (England and Wales)

Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Ingham Developments Limited

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Statement of Changes in Equity

6

Notes to the Financial Statements

7

DIRECTORS:

M C Stennett

Mrs G M Stennett

C Stennett

F Stennett

SECRETARY:

Mrs G M Stennett

REGISTERED OFFICE:

Park Farm

Fornham Park

Fornham St Genevieve

Bury St Edmunds

Suffolk

IP28 6TS

REGISTERED NUMBER:

09415961 (England and Wales)

ACCOUNTANTS:

Knights Lowe Chartered Accountants

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

BANKERS:

Barclays Bank Plc

Whitefriars

3 St James Court

Norwich

NR3 1RJ

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of residential property letting.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

M C Stennett

Mrs G M Stennett

C Stennett

F Stennett

DIRECTORS' RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

F Stennett - Director

3 December 2025

TURNOVER

222,711

215,993

Cost of sales

31,852

43,686

GROSS PROFIT

190,859

172,307

Administrative expenses

10,050

6,135

OPERATING PROFIT

180,809

166,172

Interest payable and similar expenses

232,291

227,746

LOSS BEFORE TAXATION

(51,482

)

(61,574

)

Tax on loss

4

(27,293

)

(30,965

)

LOSS FOR THE FINANCIAL YEAR

(24,189

)

(30,609

)

FIXED ASSETS

Investment property

5

5,800,000

5,800,000

CURRENT ASSETS

Debtors

6

24,640

14,172

Cash at bank and in hand

69,517

44,023

94,157

58,195

CREDITORS

Amounts falling due within one year

7

3,058,289

2,970,801

NET CURRENT LIABILITIES

(2,964,132

)

(2,912,606

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,835,868

2,887,394

CREDITORS

Amounts falling due after more than one year

8

(1,616,476

)

(1,616,520

)

PROVISIONS FOR LIABILITIES

10

(216,742

)

(244,035

)

NET ASSETS

1,002,650

1,026,839

CAPITAL AND RESERVES

Called up share capital

11

100

100

Fair value reserve

12

825,000

825,000

Retained earnings

177,550

201,739

SHAREHOLDERS' FUNDS

1,002,650

1,026,839

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 directors acknowledge their 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 3 December 2025 and were signed on its behalf by:

F Stennett - Director

Called up

Fair

share

Retained

value

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2023

100

232,348

825,000

1,057,448

Changes in equity

Total comprehensive income

-

(30,609

)

-

(30,609

)

Balance at 31 March 2024

100

201,739

825,000

1,026,839

Changes in equity

Total comprehensive income

-

(24,189

)

-

(24,189

)

Balance at 31 March 2025

100

177,550

825,000

1,002,650

1.	STATUTORY INFORMATION

Ingham Developments Limited 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 (£).

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.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the transaction constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the company intends to either settle on a net basis, or to realise the asset and settle the liability simultaneously.

Debt instruments that are classified as payable or receivable within one year on initial recognition are measured at the undiscounted amount of cash or other consideration expected to be paid or received, net of impairment.

Financial assets are derecognised when, and only when (a) the contractual rights to the cash flows from the financial asset expire or are settled, (b) the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or (c) the company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Taxation

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

Impairment

At each reporting date, current and fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be less than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

Investment properties

Investment properties are shown at current valuations. The valuations have been conducted by the directors at the balance sheet date. They are considered to have sufficient expertise to value these assets and provide a true and fair view. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.

TAXATION

Analysis of the tax credit

The tax credit on the loss for the year was as follows:

2025

2024

£

£

Deferred tax

(27,293

)

(30,965

)

Tax on loss

(27,293

)

(30,965

)

The company has tax losses carried forward amounting to £233,030 (2024: £186,662).

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

5,800,000

NET BOOK VALUE

At 31 March 2025

5,800,000

At 31 March 2024

5,800,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2020

577,562

Valuation in 2023

1,100,000

Cost

4,122,438

5,800,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

4,125,622

4,125,622

The investment properties were valued on an open market basis on 31 March 2024 by the directors of the company .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

12,705

5,421

Other debtors

11,935

8,751

24,640

14,172

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

450

4,293

Other creditors

3,057,839

2,966,508

3,058,289

2,970,801

Included within other creditors is a directors loan account. Interest has not been charged.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

1,616,476

1,616,520

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

1,616,476

1,616,520

The bank loan is secured by a fixed charge over the Company's freehold land.

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Accelerated capital allowances

275,000

275,000

Tax losses carried forward

(58,258

)

(30,965

)

216,742

244,035

Deferred

tax

£

Balance at 1 April 2024

244,035

Provided during year

(27,293

)

Balance at 31 March 2025

216,742

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

12.

RESERVES

Fair

value

reserve

£

At 1 April 2024

and 31 March 2025

825,000