REGISTERED NUMBER: 12287894 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Haigh Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S A Haigh

D W Haigh

REGISTERED OFFICE:

Banks House

Paradise Street

Rhyl

United Kingdom

LL18 3LW

REGISTERED NUMBER:

12287894 (England and Wales)

ACCOUNTANTS:

J V Banks

Chartered Accountants

Banks House

Paradise Street

Rhyl

Denbighshire

LL18 3LW

FIXED ASSETS

Tangible assets

4

28,221

31,588

Investment property

5

9,585,000

9,335,000

9,613,221

9,366,588

CURRENT ASSETS

Stocks

4,186

4,186

Debtors

6

312,212

266,549

Cash at bank

188,173

566,159

504,571

836,894

CREDITORS

Amounts falling due within one year

7

5,508,514

5,820,865

NET CURRENT LIABILITIES

(5,003,943

)

(4,983,971

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,609,278

4,382,617

CREDITORS

Amounts falling due after more than one year

8

(1,500,000

)

(1,500,000

)

PROVISIONS FOR LIABILITIES

(777,632

)

(721,045

)

NET ASSETS

2,331,646

2,161,572

CAPITAL AND RESERVES

Called up share capital

1

1

Investment property reserve

10

2,331,645

2,161,571

2,331,646

2,161,572

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.

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 24 December 2025 and were signed on its behalf by:

D W Haigh - Director

1.	STATUTORY INFORMATION

Haigh 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

20% on reducing balance and 10% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

40,084

DEPRECIATION

At 1 April 2024

8,496

Charge for year

3,367

At 31 March 2025

11,863

NET BOOK VALUE

At 31 March 2025

28,221

At 31 March 2024

31,588

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

9,335,000

Additions

23,235

Revaluations

226,765

At 31 March 2025

9,585,000

NET BOOK VALUE

At 31 March 2025

9,585,000

At 31 March 2024

9,335,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2022

2,440,000

Valuation in 2023

113,088

Valuation in 2024

329,007

Valuation in 2025

226,765

Cost

6,476,140

9,585,000

If the investment properties had not been revalued they would have been included at the following historical cost:

31.3.25

31.3.24

£

£

Cost

6,476,140

6,452,905

The investment properties were valued on open market value basis on 31 March 2025 by the directors .

The revaluation is at gross aggregate vacant possession value assuming individual sales.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Amounts owed by group undertakings

211,712

149,970

Other debtors

100,500

116,579

312,212

266,549

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Amounts owed to group undertakings

5,420,713

5,722,630

Taxation and social security

45,419

55,394

Other creditors

42,382

42,841

5,508,514

5,820,865

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

1,500,000

1,500,000

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,500,000

1,500,000

9.	SECURED DEBTS

Handelsbanken holds a fixed and floating charge over all the property and undertaking of the company dated 29 April 2021.

10.

RESERVES

Investment

property

reserve

£

At 1 April 2024

2,161,571

Reserve transfers

170,074

At 31 March 2025

2,331,645

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Haigh Properties Holdings Limited.

The ultimate controlling party is the directors.