REGISTERED NUMBER: 12955195 (England and Wales)

NEXT GENERATION HOUSING LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C H Crocker

C B Crocker

SECRETARY:

C B Crocker

REGISTERED OFFICE:

3 Ensign House

Parkway Court

Plymouth

Devon

PL6 8LR

REGISTERED NUMBER:

12955195 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

7 Sandy Court

Ashleigh Way

Langage Business Park

Plymouth

Devon

PL7 5JX

FIXED ASSETS

Tangible assets

5

702,385

620,015

Investment property

6

223,500

413,500

925,885

1,033,515

CURRENT ASSETS

Debtors

48,800

91,420

Cash at bank

2,794

2,646

51,594

94,066

CREDITORS

Amounts falling due within one year

240,031

266,372

NET CURRENT LIABILITIES

(188,437

)

(172,306

)

TOTAL ASSETS LESS CURRENT LIABILITIES

737,448

861,209

CREDITORS

Amounts falling due after more than one year

7

(533,215

)

(579,291

)

PROVISIONS FOR LIABILITIES

(9,000

)

(10,000

)

NET ASSETS

195,233

271,918

CAPITAL AND RESERVES

Called up share capital

150

150

Retained earnings

195,083

271,768

195,233

271,918

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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 December 2025 and were signed on its behalf by:

C H Crocker - Director

1.	STATUTORY INFORMATION

Next Generation Housing Ltd 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Going concern

The directors do not have any reservations regarding the entities ability to continue as a going concern for the foreseeable future.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

Tangible fixed assets

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

Tangible fixed assets are stated at costs less accumulated depreciation and accumulated impairment losses.

Freehold property is being depreciated on a straight line basis over fifty years. Included in the closing net book value of £702,385 with the value attributed to Land of £364,531.

Impairment of Assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss if recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the assets in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

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

Investment property

In accordance with FRS 102, investment properties are included in the financial statements at their open market values. These are reviewed annually, and either assessed by the directors or sought to be provided by an external expert. The annual review ensures that the property is at a value which is considered to be an approximation of their Fair Value.

When the value of an investment property is revalued the aggregate surplus or deficit on revaluation is recorded in the Profit and Loss Account, and deferred tax is recognised on any aggregate gains recorded.

Taxation

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Provisions for liabilities

Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance costs in profit or loss in the period it arises.

The Company recognises a provision for annual leave accrued by employees for services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months, measured at the salary costs payable for the period of absence.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

639,182

Additions

90,701

At 31 March 2025

729,883

DEPRECIATION

At 1 April 2024

19,167

Charge for year

8,331

At 31 March 2025

27,498

NET BOOK VALUE

At 31 March 2025

702,385

At 31 March 2024

620,015

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

413,500

Disposals

(190,000

)

At 31 March 2025

223,500

NET BOOK VALUE

At 31 March 2025

223,500

At 31 March 2024

413,500

Fair value at 31 March 2025 is represented by:

£

Valuation in 2023

46,185

Cost

177,315

223,500

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2025

2024

£

£

Repayable by instalments

Bank loans more 5 yr by instal

533,215

579,291

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

533,215

579,291

The mortgages held by the company are secured against the properties to which they relate.