REGISTERED NUMBER: 14961781 (England and Wales)

QUEENSBURY NEW HOMES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

5,900

7,375

CURRENT ASSETS

Stocks

2,862,378

1,621,220

Debtors

5

32,385

55,821

Cash at bank

3,839

92,223

2,898,602

1,769,264

CREDITORS

Amounts falling due within one year

6

1,721,555

1,763,082

NET CURRENT ASSETS

1,177,047

6,182

TOTAL ASSETS LESS CURRENT LIABILITIES

1,182,947

13,557

CREDITORS

Amounts falling due after more than one year

7

(1,206,727

)

-

PROVISIONS FOR LIABILITIES

(1,475

)

(1,401

)

NET (LIABILITIES)/ASSETS

(25,255

)

12,156

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(25,257

)

12,154

(25,255

)

12,156

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2025 and were signed on its behalf by:

R J Capsey - Director

G M Field - Director

1.	STATUTORY INFORMATION

Queensbury New Homes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

14961781

Registered office:

Broad House

1 The Broadway

Old Hatfield

Hertfordshire

AL9 5BG

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.

Going concern

The financial statements have been prepared on a going concern basis. The directors have confirmed they will continue to financially support the company and considers the going concern basis appropriate for the financial statements.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover

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

Revenue from the sale of land and buildings is recognised when control of the property has transferred to the buyer, usually on legal completion, and when it is probable that economic benefits will flow to the company and the amount of revenue can be measured reliably.

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

-

20% on reducing balance

Stocks

Land and buildings acquired or developed with the intention of sale in the ordinary course of business are classified as stock and measured at the lower of cost and net realisable value. Cost includes the purchase price together with directly attributable acquisition costs such as legal fees, stamp duties and commissions, as well as development, construction and other expenditures necessary to bring the property to its present condition and location. Net realisable value represents the estimated selling price in the ordinary course of business less the estimated costs of completion and the costs required to make the sale.

Financial instruments

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

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 Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet 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 Profit and Loss Account, 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

7,500

DEPRECIATION

At 1 April 2024

125

Charge for year

1,475

At 31 March 2025

1,600

NET BOOK VALUE

At 31 March 2025

5,900

At 31 March 2024

7,375

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

32,385

55,821

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

254,625

119,281

Amounts owed to associates

1,464,285

1,637,540

Taxation and social security

-

1,499

Other creditors

2,645

4,762

1,721,555

1,763,082

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

794,377

-

Amounts owed to associates

412,350

-

1,206,727

-

8.	RELATED PARTY DISCLOSURES

Maesbrook Limited

During the period the company incurred costs amounting to £97,500 from Maesbrook Limited, a company of which Mr G M Field is a director. Balances amounting to £867,847 (2024: £807,099) were due to this company at the balance sheet date.

VEM Properties Limited

During the period the company incurred costs amounting to £97,500 from VEM Properties Limited, a company of which Mr R J Capsey is a director. Balances amounting to £1,008,788 (2024: £799,294) were due to this company at the balance sheet date.

During the year interest on the loan was charged from VEM Properties Limited for the amount of £12,350 (2024: £Nil).

Queensbury Homes Limited

At the balance sheet date, balances amounting to £Nil (2024: £31,149) were due to Queensbury Homes Limited, a company of which both directors had an interest.

Arbon Group Limited

At the balance sheet date, balances amounting to £810 were due from Arbon Group Limited, a company of which Mr G M Field is a director.

Jaco Investments Limited

At the balance sheet date, balances amounting to £810 were due from Jaco Investments Limited, a company of which Mr R J Capsey is a director.