Company Registration No. 06458076 (England and Wales)
Targetfollow (Development) Limited
Unaudited accounts
for the year ended 31 March 2025
Targetfollow (Development) Limited
Unaudited accounts
Contents
Targetfollow (Development) Limited
Company Information
for the year ended 31 March 2025
Directors
A Naghshineh
S Naghshineh
C Thoday
Company Number
06458076 (England and Wales)
Registered Office
Riverside House
11-13 Riverside Road
Norwich
Norfolk
NR1 1SQ
Targetfollow (Development) Limited
Statement of financial position
as at 31 March 2025
Debtors
1,225,319
1,259,330
Cash at bank and in hand
44
44
Creditors: amounts falling due within one year
(970,587)
(1,004,598)
Net current assets
254,776
254,776
Net assets
254,778
254,778
Called up share capital
1
1
Profit and loss account
254,777
254,777
Shareholders' funds
254,778
254,778
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2025 and were signed on its behalf by
C Thoday
Director
Company Registration No. 06458076
Targetfollow (Development) Limited
Notes to the Accounts
for the year ended 31 March 2025
Targetfollow (Development) Limited is a private company, limited by shares, registered in England and Wales, registration number 06458076. The registered office is Riverside House, 11-13 Riverside Road, Norwich, Norfolk, NR1 1SQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of the Companies Act 2006 and with FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
These financial statements have been prepared under the historical cost convention unless otherwise stated within these accounting policies.
The accounts are presented in £ sterling.
The financial statements have been prepared on a going concern basis. However attention is drawn to the following:
At the end of the year the company was owed £1,225,160 (2024: £1,259,171) by companies under common control.
In addition at the end of the year the company owed a total of £970,588 (2024: £1,004,598) to other connected parties.
Based on the above, the directors have determined that the company has the resources available for the foreseeable future and, in particular, has resources available for the period of 12 months from the date of approval of these financial statements.
Fixed asset investments represent investments in subsidiary undertakings and are recorded at the lower of cost and net realisable value. The investments are not readily marketable and the directors believe that it is both prudent and appropriate to value them at the lower of cost and net realisable value.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts.
Deferred tax liabilities arising from gains on the revaluation of investment property are recognised in full.
Deferred tax assets arising from unrelieved tax losses are recognised only to the extent that it is probable that they will be recovered against future profits or the future reversal of deferred tax liabilities.
Deferred tax assets and liabilities are not discounted.
Targetfollow (Development) Limited
Notes to the Accounts
for the year ended 31 March 2025
4
Investments
Subsidiary undertakings
Valuation at 1 April 2024
2
Valuation at 31 March 2025
2
The company owns 100% of the ordinary share capital of Targetfollow (Pantiles) Limited and owns 100% of the ordinary share capital of Barrow Close Investments Ltd.
The principal activity of all undertakings is that of commercial property investment.
Amounts falling due within one year
Amounts due from group undertakings etc.
1,225,159
1,259,170
6
Creditors: amounts falling due within one year
2025
2024
Amounts owed to group undertakings and other participating interests
970,587
1,004,598
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
8
Transactions with related parties
Under section 33.1A of FRS 102 the Company is not obliged to disclose transactions between members of other group companies where group accounts are prepared.
The company has a loan account with Targetfollow Estates Limited, a company controlled by A Naghshineh. At the year end a balance of £970,588 (2024: £1,004,598 ) was owed to Targetfollow Estates Limited.
The company is controlled by Targetfollow Group Limited and, in the opinion of the directors, this is the company's ultimate parent company. The ultimate controlling party is the shareholder and a director of Targetfollow Group Limited, A Naghshineh.
The parent undertaking of the largest and smallest group for which consolidated accounts are prepared is Targetfollow Group Ltd, whose registered address is 11-12 Riverside Road, Norwich, NR1 1SQ. Consolidated accounts are available from Companies House.
10
Average number of employees
During the year the average number of employees was 0 (2024: 0).