T G Sowerby Developments Limited 1511090 false 2024-06-01 2025-05-31 2025-05-31 The principal activity of the company is that of building contractors. The company is also engaged in livestock farming on a small scale Digita Accounts Production Advanced 6.30.9574.0 true 1511090 2024-06-01 2025-05-31 1511090 2025-05-31 1511090 bus:OrdinaryShareClass1 2025-05-31 1511090 core:OtherReservesSubtotal 2025-05-31 1511090 core:RetainedEarningsAccumulatedLosses 2025-05-31 1511090 core:ShareCapital 2025-05-31 1511090 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2025-05-31 1511090 core:CurrentFinancialInstruments 2025-05-31 1511090 core:CurrentFinancialInstruments core:WithinOneYear 2025-05-31 1511090 core:Non-currentFinancialInstruments 2025-05-31 1511090 core:Non-currentFinancialInstruments core:AfterOneYear 2025-05-31 1511090 core:FurnitureFittingsToolsEquipment 2025-05-31 1511090 core:LandBuildings 2025-05-31 1511090 core:MotorVehicles 2025-05-31 1511090 bus:SmallEntities 2024-06-01 2025-05-31 1511090 bus:AuditExemptWithAccountantsReport 2024-06-01 2025-05-31 1511090 bus:FilletedAccounts 2024-06-01 2025-05-31 1511090 bus:SmallCompaniesRegimeForAccounts 2024-06-01 2025-05-31 1511090 bus:RegisteredOffice 2024-06-01 2025-05-31 1511090 bus:Director2 2024-06-01 2025-05-31 1511090 bus:OrdinaryShareClass1 2024-06-01 2025-05-31 1511090 bus:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 1511090 core:FurnitureFittingsToolsEquipment 2024-06-01 2025-05-31 1511090 core:LandBuildings 2024-06-01 2025-05-31 1511090 core:MotorVehicles 2024-06-01 2025-05-31 1511090 core:PlantMachinery 2024-06-01 2025-05-31 1511090 countries:England 2024-06-01 2025-05-31 1511090 2024-05-31 1511090 core:FurnitureFittingsToolsEquipment 2024-05-31 1511090 core:LandBuildings 2024-05-31 1511090 core:MotorVehicles 2024-05-31 1511090 2023-06-01 2024-05-31 1511090 2024-05-31 1511090 bus:OrdinaryShareClass1 2024-05-31 1511090 core:OtherReservesSubtotal 2024-05-31 1511090 core:RetainedEarningsAccumulatedLosses 2024-05-31 1511090 core:ShareCapital 2024-05-31 1511090 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2024-05-31 1511090 core:CurrentFinancialInstruments 2024-05-31 1511090 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 1511090 core:Non-currentFinancialInstruments 2024-05-31 1511090 core:Non-currentFinancialInstruments core:AfterOneYear 2024-05-31 1511090 core:FurnitureFittingsToolsEquipment 2024-05-31 1511090 core:LandBuildings 2024-05-31 1511090 core:MotorVehicles 2024-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 1511090

T G Sowerby Developments Limited
Filleted Unaudited Financial Statements
for the Year Ended 31 May 2025

T G Sowerby Developments Limited

(Registration number: 1511090)
Balance Sheet as at 31 May 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 233,108 | 264,417
Investment property | 5 | 310,000 | 310,000
Other financial assets | 6 | 50 | 50
|  | 543,158 | 574,467
Current assets |  |  |
Stocks |  | 750,563 | 1,391,582
Debtors | 7 | 363,876 | 431,183
Cash at bank and in hand |  | 322,517 | 643,048
|  | 1,436,956 | 2,465,813
Creditors: Amounts falling due within one year | 8 | (332,227) | (1,657,816)
Net current assets |  | 1,104,729 | 807,997
Total assets less current liabilities |  | 1,647,887 | 1,382,464
Creditors: Amounts falling due after more than one year | 8 | (2,500) | (12,500)
Provisions for liabilities |  | (45,217) | (5,399)
Net assets |  | 1,600,170 | 1,364,565
Capital and reserves |  |  |
Called up share capital | 10 | 200 | 200
Other reserves |  | 174,868 | 174,868
Retained earnings |  | 1,425,102 | 1,189,497
Shareholders' funds |  | 1,600,170 | 1,364,565

T G Sowerby Developments Limited

(Registration number: 1511090)
Balance Sheet as at 31 May 2025

For the financial year ending 31 May 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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 December 2025 and signed on its behalf by:

Mr C T Sowerby Director |  |

T G Sowerby Developments Limited

Notes to the Financial Statements for the Year Ended 31 May 2025

1 | General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
South Park Road
South Park Industrial Estate
Scunthorpe
North Lincolnshire
DN17 2BY
The company's registration number is 1511090.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

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 in the countries where the company operates and generates taxable income.

T G Sowerby Developments Limited

Notes to the Financial Statements for the Year Ended 31 May 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Freehold property | 2% per annum on cost
Motor vehicles | 25% per annum on written down value
Plant and machinery | 20% per annum on written down value

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

T G Sowerby Developments Limited

Notes to the Financial Statements for the Year Ended 31 May 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

T G Sowerby Developments Limited

Notes to the Financial Statements for the Year Ended 31 May 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year was 21 (2024 - 28).

4 | Tangible assets

| Land and buildings £ | Plant and machinery £ | Motor vehicles £ | Total £
Cost or valuation
At 1 June 2024 | 218,436 | 515,999 | 88,206 | 822,641
Additions | - | 615 | - | 615
Disposals | - | (9,400) | (19,725) | (29,125)
At 31 May 2025 | 218,436 | 507,214 | 68,481 | 794,131
Depreciation
At 1 June 2024 | 76,517 | 432,434 | 49,273 | 558,224
Charge for the year | 2,523 | 16,290 | 10,238 | 29,051
Eliminated on disposal | - | (8,621) | (17,631) | (26,252)
At 31 May 2025 | 79,040 | 440,103 | 41,880 | 561,023
Carrying amount
At 31 May 2025 | 139,396 | 67,111 | 26,601 | 233,108
At 31 May 2024 | 141,919 | 83,565 | 38,933 | 264,417

T G Sowerby Developments Limited

Notes to the Financial Statements for the Year Ended 31 May 2025

5 | Investment properties

| 2025 £
At 1 June | 310,000
At 31 May | 310,000

The value of investment property is reviewed annually by the directors.

There has been no valuation of investment property by an independent valuer.

6 | Other financial assets (current and non-current)

| Unlisted investments £ | Total £
Non-current financial assets
Cost or valuation
At 1 June 2024 | 50 | 50
At 31 May 2025 | 50 | 50
Carrying amount
At 31 May 2025 | 50 | 50
At 31 May 2024 | 50 | 50

7 | Debtors

| 2025 £ | 2024 £
Trade debtors | 334,745 | 317,643
Other debtors | 29,131 | 38,500
Social security and other taxes | - | 75,040
| 363,876 | 431,183

T G Sowerby Developments Limited

Notes to the Financial Statements for the Year Ended 31 May 2025

8 | Creditors

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 9 | 10,000 | 702,222
Trade creditors |  | 174,225 | 649,141
Amounts due to related parties |  | 60,000 | 112,916
Social security and other taxes |  | 69,230 | 25,486
Other creditors |  | 18,772 | 168,051
|  | 332,227 | 1,657,816

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 9 | 2,500 | 12,500

9 | Loans and borrowings

| 2025 £ | 2024 £
Current loans and borrowings
Bank borrowings | 10,000 | 10,000
Bank overdraft | - | 686,422
Hire purchase | - | 5,800
| 10,000 | 702,222

| 2025 £ | 2024 £
Non-current loans and borrowings
Bank borrowings | 2,500 | 12,500

Secured borrowings
The bank overdraft is secured on the assets of the company. The hire purchase liabilities are secured upon the assets to which they relate.

T G Sowerby Developments Limited

Notes to the Financial Statements for the Year Ended 31 May 2025

10 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 200 | 200 | 200 | 200