ACCOUNTS - Final Accounts preparation

Company Registration Number: 13589496

BOWLAND FOLD (HALTON) LIMITED

FINANCIAL STATEMENTS

31 MARCH 2025

BOWLAND FOLD (HALTON) LIMITED

REGISTERED NUMBER: 13589496

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
Note		£		£


Current assets
Stocks	4	5,534,326		4,416,970
Debtors: amounts falling due within one year	5	1,293,220		107,944
Cash at bank and in hand	6	70,960		1,221,652
		6,898,506		5,746,566
Creditors: amounts falling due within one year	7	(6,923,878)		(3,434,520)
Net current (liabilities)/assets			(25,372)		2,312,046
Total assets less current liabilities			(25,372)		2,312,046
Creditors: amounts falling due after more than one year	8		-		(2,292,151)

Net (liabilities)/assets			(25,372)		19,895

Capital and reserves
Called up share capital	10	1	1
Profit and loss account		(25,373)	19,894
		(25,372)	19,895

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

N J Gordon

Director

Date: 9 December 2025

The notes on pages 2 to 7 form part of these financial statements.

Page 1

BOWLAND FOLD (HALTON) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Bowland Fold (Halton) Limited is a private company limited by shares, incorporated in England. The registered office is Agricola House Cowper Road, Gilwilly Industrial Estate, Penrith, England, CA11 9BN.

The principal activity of the entity is that of a housing developer.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

2.2

Going concern

Management and the Directors have considered a period of at least twelve months from the date of
sign off when making their assessment with regards to going concern. After consideration of all
factors, including review of forecasted future profitability, headroom in funding facilities and wider
economic conditions, the Directors have continued to adopt the going concern basis in preparing the financial statements.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of Houses

Revenue from the sale of houses is recognised when the significant risks and rewards of ownership have been transferred to the purchaser on legal completion.

2.4

Borrowing costs

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

Page 2

BOWLAND FOLD (HALTON) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost includes all expenditure directly attributable to the development.

Upon the sale of properties, stock is reduced by a proportionate amount based upon the sales value against total forecasted sales.

At each reporting date, stocks are assessed for impairment. If stock is 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.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

BOWLAND FOLD (HALTON) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the Company's financial statements requires management to make judgements,
estimates and assumptions that affect the amounts reported for assets and liabilities at the Statement of
Financial Position date, and the amounts reported for revenues and expenses during the period.

However, due to the nature of estimation, the actual outcomes could differ from those estimates,
particularly in respect of the below.

Costs Attributable to House Sales

The company sells properties prior to completion of the full development. As a result the total cost of the
development, including costs that are not directly attributable to individual plots, are not known. The cost
of sales recognised upon the sale of each property therefore includes an element of judgement within the
estimated future costs.

4.	Stocks

		2025	2024
		£	£

Work in progress - Land	730,001	884,501
Work in progress - Development	4,804,325	3,532,469
	5,534,326	4,416,970

Page 4

BOWLAND FOLD (HALTON) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Debtors

					2025	2024
					£	£


Trade debtors	-	41,830
Amounts owed by participating interests	1,217,122	65,426
Other debtors	67,640	688
Deferred taxation	8,458	-
	1,293,220	107,944

6.	Cash and cash equivalents
		2025	2024
		£	£

	Cash at bank and in hand	70,960	1,221,652

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank loans	3,086,162	-
Shareholder loans	2,292,151	-
Other creditors	3,471	2,860
Corporation tax	-	6,632
Amounts owed to connected companies	59,902	935,673
Accruals and deferred income	1,482,192	2,489,355
	6,923,878	3,434,520

8.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Shareholder loans	-	2,292,151
	-	2,292,151

Page 5

BOWLAND FOLD (HALTON) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

9.	Loans
	Analysis of the maturity of loans is given below:
		2025	2024
		£	£

Amounts falling due within one year
Bank loans	3,086,162	-
Shareholder loans	2,292,151	-
	5,378,313	-

Amounts falling due 2-5 years
Shareholder loans	-	2,292,151
	-	2,292,151

The shareholder loans balance of £2,292,151 (2024: £2,292,151) is unsecured and repayable in full upon the final sale of properties.

Loan funding from shareholders does not have a fixed repayment term and is due on final realisation of development sites. As those sites are due for realisation in 2025, they have been recognised as liabilities due within one year. The debt is not interest bearing and all sites are expected to be realised in full by 2025. Any related notional debt and finance cost that would be attributed to fair value accounting for this financial instrument would be immaterial. As such no adjustment has been booked.

The bank loans due under one year balance of £3,086,162 (2024: £Nil) is secured against the development and incurred interest.

10.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

1 (2024 - 1) Ordinary share of £1.00	1	1

11.	Related party transactions
	At the balance sheet date the company owed £2,292,151 (2024: £2,292,151) to Housing Growth Partnership, an entity which owns 50% of the share capital of the company. The balance was interest free and repayable upon the final sale of properties.

12.	Controlling party

The company is jointly controlled by Genesis Homes Group Limited and Housing Growth Partnership.

Page 6

BOWLAND FOLD (HALTON) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

13.	Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2025 was unqualified.

The audit report was signed on 9 December 2025 by Simon Turner (Senior Statutory Auditor) on behalf of Armstrong Watson Audit Limited.

Page 7