REGISTERED NUMBER: 04835672 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

FOR

STOREY PROPERTY DEVELOPMENTS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

8

Other Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

M P Storey

M R Storey

SECRETARY:

M P Storey

REGISTERED OFFICE:

Eagle House

28 Billing Road

Northampton

Northamptonshire

NN1 5AJ

REGISTERED NUMBER:

04835672 (England and Wales)

SENIOR STATUTORY AUDITOR:

Robyn Liddell

AUDITORS:

Shaw Gibbs (Audit) Limited, Statutory Auditor

Eagle House

28 Billing Road

Northampton

Northamptonshire

NN1 5AJ

The directors present their strategic report for the year ended 30 June 2025.

REVIEW OF BUSINESS

The Company's business is the provision of staff, office facilities and other administrative and supporting costs, to other companies within the Group. Management fee income for the year was £NIL (2024 £1,600,000). With the receipt of a dividend of £6,031 (2023: £2,000,000) from a subsidiary company, loss before tax for the year was £150,444 (2024 £2,639,801).

The Company paid additional dividends of £nil (2024 £10,978,878) in the year.

In view of the labour skills shortage and materials supplies problems, affecting the building industry, the Group have ceased construction and now focus on land development.

PRINCIPAL RISKS AND UNCERTAINTIES

The availability and cost of finance to land developers is a risk to the industry. The Group has sought to mitigate this risk by reducing third party funding and only acquiring land that can be funded from internally generated cash or borrowings from related companies with common shareholders. At 30 June 2025, the Group had no third party (unrelated) borrowings.

In acquiring land for development there is a risk of changes in market conditions; affecting demand and valuations. The Group mitigates this risk by acquiring land in different regions; monitoring market trends and forecasts to adapt acquisition strategies; and maintaining flexibility to pause or pivot projects in volatile markets.

Land development is subject to regulatory risks, being changes in planning laws, environmental regulations, taxation, and Government policy. The Group mitigates these risks by engaging with regulatory bodies, local communities and participating in industry consultations; employing specialist land planning staff and external professional advisors to ensure compliance with changing laws; and conducting detailed feasibility assessments before acquiring land with a strong possibility of providing sustainable and environmentally compliant developments, in the medium to long term.

SIGNED BY ORDER OF THE DIRECTORS:

M R Storey - Director

23 December 2025

The directors present their report with the financial statements of the company for the year ended 30 June 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of property developers.

DIVIDENDS

Total dividends paid for the year ended 30 June 2025 were £Nil (2024: £10,978,878).

DIRECTORS

The directors shown below have held office during the whole of the period from 1 July 2024 to the date of this report.

M P Storey

M R Storey

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Shaw Gibbs (Audit) Limited, Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting.

SIGNED BY ORDER OF THE DIRECTORS:

M R Storey - Director

23 December 2025

Opinion

We have audited the financial statements of Storey Property Developments Limited (the 'company') for the year ended 30 June 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30 June 2025 and of its loss for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks within which the company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, United Kingdom Generally Accepted Accounting Practice and relevant Taxation legislation

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be the override of controls by management. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing me and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion or the provision of intentional misrepresentations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Robyn Liddell (Senior Statutory Auditor)

for and on behalf of Shaw Gibbs (Audit) Limited, Statutory Auditor

Eagle House

28 Billing Road

Northampton

Northamptonshire

NN1 5AJ

24 December 2025

TURNOVER

5

-

1,600,000

Cost of sales

(41,999

)

22,046

GROSS PROFIT

41,999

1,577,954

Administrative expenses

474,831

1,167,660

(432,832

)

410,294

Other operating income

6

23,128

41,336

OPERATING (LOSS)/PROFIT

9

(409,704

)

451,630

Income from shares in group undertakings

6,031

2,000,000

Interest receivable and similar income

11

253,622

188,171

259,653

2,188,171

(150,051

)

2,639,801

Interest payable and similar expenses

12

393

-

(LOSS)/PROFIT BEFORE TAXATION

(150,444

)

2,639,801

Tax on (loss)/profit

13

(48,369

)

90,828

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(102,075

)

2,548,973

(LOSS)/PROFIT FOR THE YEAR

(102,075

)

2,548,973

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(102,075

)

2,548,973

FIXED ASSETS

Tangible assets

15

2,002

5,206

Investments

16

104

104

Investment property

17

225,000

225,000

227,106

230,310

CURRENT ASSETS

Debtors

18

12,262,415

5,761,275

Prepayments and accrued income

393

10,977

Cash at bank and in hand

40,852

6,435,229

12,303,660

12,207,481

CREDITORS

Amounts falling due within one year

19

11,447,579

11,204,160

NET CURRENT ASSETS

856,081

1,003,321

TOTAL ASSETS LESS CURRENT LIABILITIES

1,083,187

1,233,631

PROVISIONS FOR LIABILITIES

20

56,250

104,619

NET ASSETS

1,026,937

1,129,012

CAPITAL AND RESERVES

Called up share capital

21

3

3

Retained earnings

22

1,026,934

1,129,009

SHAREHOLDERS' FUNDS

1,026,937

1,129,012

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

M R Storey - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 July 2023

3

4,830,036

4,728,878

9,558,917

Changes in equity

Dividends

-

(10,978,878

)

-

(10,978,878

)

Total comprehensive income

-

2,548,973

-

2,548,973

Transfer between reserves

-

4,728,878

(4,728,878

)

-

Balance at 30 June 2024

3

1,129,009

-

1,129,012

Changes in equity

Total comprehensive income

-

(102,075

)

-

(102,075

)

Balance at 30 June 2025

3

1,026,934

-

1,026,937

1.	STATUTORY INFORMATION

Storey Property Developments Limited 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" 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 unless otherwise specified within these accounting policies.

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

Going Concern

At the time of approving the financial statements, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d).

Preparation of consolidated financial statements

The financial statements contain information about Storey Property Developments Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Storey Property Developments Holdings Limited, Eagle House, 28 Billing Road, Northampton, NN1 5AJ.

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 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 at fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be fully met before revenue is recognised:

Sales of goods

Revenue from the sales of goods is recognised when all of the following conditions are satisfied:

-the company has transferred the significant risks and rewards of ownership to the buyer;

-the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

the amount of revenue is measured reliably;

-it is probable that the company will receive the consideration due under the transaction; and

-the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

-the amount of revenue can be measured reliably;

-it is probable that the company will receive the the consideration due under the contract;

-the stage of completion of the contract at the end of the reporting period can be measured reliably;

-the costs incurred and the costs to complete the contract can be measured reliably.

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.

Short leasehold

-

over the life of the lease

Plant and machinery

-

20% on cost

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the profit and loss.

Investments in subsidiaries

Investments in subsidiaries are measured at cost less accumulated impairment.

Investment property

Investment property is carried at fair value determined annually by the directors or external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the profit and loss account.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial asset and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable in one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid ore received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows, discounted at market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:

-at fair value with changes recognised in Statement of Income and Retained Earnings if the shares are publicly traded or their fair value can otherwise be measured reliably;

-at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Operating leases

Rentals paid under operating leases are charged to the profit or loss on a straight-line basis over the lease term.

Benefits received and receivable are an incentive to sign an operating lease are recognised on a straight-line basis over the term of the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Defined contributions pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the profit and loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Interest costs

Interest costs are recognised in work in progress using the effective interest method, and charged to the profit and loss when the units are sold.

Finance costs

Finance costs are charged to work in progress over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are also recognised in work in progress. Both are charged to the profit and loss account when the units are sold.

Borrowing costs

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

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

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 method, less any impairment.

Cash and cash equivalents

Cash is represented by cash 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 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.

In the statement of cashflow, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

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.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment or to provide termination benefits.

Provision for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

4.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company's accounting policies, the directors are required to make judgements, estimate and assumptions about the amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both the current and future period.

5.

TURNOVER

The turnover and loss (2024 - profit) before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business for the year ended 30 June 2024 is given below:

£

Management charges

1,600,000

1,600,000

This analysis is not considered to be applicable to the year ended 30 June 2025.

6.	OTHER OPERATING INCOME

2025

2024

£

£

Rents received

23,075

23,050

Sundry receipts

53

18,286

23,128

41,336

7.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

333,244

819,650

Social security costs

42,098

111,988

Other pension costs

11,999

59,140

387,341

990,778

The average number of employees during the year was as follows:

2025

2024

Sales and administration

7

10

8.	DIRECTORS' EMOLUMENTS

2025

2024

£

£

Directors' remuneration

-

-

Directors' pension contributions to money purchase schemes

-

20,000

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

-

2

9.	OPERATING (LOSS)/PROFIT

The operating loss (2024 - operating profit) is stated after charging:

2025

2024

£

£

Other operating leases

-

36,542

Depreciation - owned assets

3,204

11,041

10.	AUDITORS' REMUNERATION

2025

2024

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

15,100

7,250

The auditors also received remuneration for non-audit services totalling £6,250.

11.

INTEREST RECEIVABLE AND SIMILAR INCOME

2025

2024

£

£

Deposit account interest

250,870

181,210

Corporation tax interest

2,752

6,961

253,622

188,171

12.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Other interest payable

393

-

13.

TAXATION

Analysis of the tax (credit)/charge

The tax (credit)/charge on the loss for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

-

92,857

Deferred tax

(48,369

)

(2,029

)

Tax on (loss)/profit

(48,369

)

90,828

UK corporation tax has been charged at 25% (2024 - 25%).

Reconciliation of total tax (credit)/charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2025

2024

£

£

(Loss)/profit before tax

(150,444

)

2,639,801

(Loss)/profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

(37,611

)

659,950

Effects of:

Expenses not deductible for tax purposes

(18,443

)

(67,244

)

Income not taxable for tax purposes

(1,508

)

(500,000

)

Depreciation in excess of capital allowances

325

2,180

Other timing differences leading to an increase (decrease) in the tax charge

(48,369

)

(2,029

)

Group loss relief

57,237

(2,029

)

Total tax (credit)/charge

(48,369

)

90,828

14.

DIVIDENDS

30/06/2025

30/06/2024

£

£

Interim

-

10,978,878

15.	TANGIBLE FIXED ASSETS

Short

Plant and

leasehold

machinery

Totals

£

£

£

COST

At 1 July 2024

58,623

17,722

76,345

Disposals

-

(7,965

)

(7,965

)

At 30 June 2025

58,623

9,757

68,380

DEPRECIATION

At 1 July 2024

58,623

12,516

71,139

Charge for year

-

3,204

3,204

Eliminated on disposal

-

(7,965

)

(7,965

)

At 30 June 2025

58,623

7,755

66,378

NET BOOK VALUE

At 30 June 2025

-

2,002

2,002

At 30 June 2024

-

5,206

5,206

16.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 July 2024

and 30 June 2025

104

NET BOOK VALUE

At 30 June 2025

104

At 30 June 2024

104

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Storey Property Developments (One) Limited

Registered office: Eagle House, 28 Billing Road, Northampton, Northamptonshire, England, NN1 5AJ.

Nature of business: Property Developer

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

£

Aggregate capital and reserves

100

5,153

Profit for the year

978

9,166