ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Company Registration Number: 14482344

DERWENT RISE (SEATON) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

DERWENT RISE (SEATON) LIMITED

REGISTERED NUMBER: 14482344

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
Note		£		£


Current assets
Stocks	4	3,100,813		100,000
Debtors: amounts falling due within one year	5	13,740		-
		3,114,553		100,000
Creditors: amounts falling due within one year	6	(1,744,577)		(100,013)
Net current assets/(liabilities)			1,369,976		(13)
Total assets less current liabilities			1,369,976		(13)
Creditors: amounts falling due after more than one year	7		(1,411,193)		-

Net liabilities			(41,217)		(13)

Capital and reserves
Called up share capital	9	1	1
Profit and loss account		(41,218)	(14)
		(41,217)	(13)

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 profit and loss account 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: 8 December 2025

The notes on pages 2 to 6 form part of these financial statements.

Page 1

DERWENT RISE (SEATON) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Derwent Rise (Seaton) Limited's principal activity is development of building projects. The company is a private company limited by shares, registered in the United Kingdom. The address of the registered office is Agricola House, Cowper Road, Gilwilly Industrial Estate, Penrith, Cumbria, CA11 9BN.

The current period is for the year ended 31 March 2025. The comparative period is for the 16 months ending 31 March 2024.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liabilities Partnerships'. 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.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

They are presented in pounds sterling and rounded to the nearest £.

The following principal accounting policies have been applied:

2.2

Going concern

Mamangement 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

Borrowing costs

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

Page 2

DERWENT RISE (SEATON) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.4

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.

2.5

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.

2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

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

DERWENT RISE (SEATON) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.8

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.

Employees

The Company has no employees other than the directors, who did not receive any remuneration (2024 - £NIL).

4.	Stocks
		2025	2024
		£	£

Work in progress - Land	2,732,424	100,000
Work in progress - Development	368,389	-
	3,100,813	100,000

Debtors

					2025	2024
					£	£


Deferred taxation	13,740	-
	13,740	-

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

Amount recoverable on contracts	368,389	-
Amounts owed to participating interests	1,376,188	100,013
	1,744,577	100,013

Page 4

DERWENT RISE (SEATON) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

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

Bank loans	50,498	-
Shareholder loans	1,360,695	-
	1,411,193	-



Amounts falling due 2-5 years
Bank loans	50,498	-
Shareholder loans	1,360,695	-
	1,411,193	-

	1,411,193	-

Page 5

DERWENT RISE (SEATON) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

9.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

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

10.	Controlling party

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

11.	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 6