Company registration number 14043872 (England and Wales)
WILLIAM GEORGE HOMES (ABINGER HOUSE) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
WILLIAM GEORGE HOMES (ABINGER HOUSE) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
WILLIAM GEORGE HOMES (ABINGER HOUSE) LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Current assets
Stocks
3
4,878,115
3,890,506
Debtors
4
156,911
96,091
Cash at bank and in hand
58,842
168
5,093,868
3,986,765
Creditors: amounts falling due within one year
5
(715,118)
(4,112,776)
Net current assets/(liabilities)
4,378,750
(126,011)
Creditors: amounts falling due after more than one year
6
(4,512,577)
-
0
Net liabilities
(133,827)
(126,011)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(133,927)
(126,111)
Total equity
(133,827)
(126,011)

For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 27 January 2026 and are signed on its behalf by:
W G Nixon
Director
Company registration number 14043872 (England and Wales)
WILLIAM GEORGE HOMES (ABINGER HOUSE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 2 -
1
Accounting policies
Company information

William George Homes (Abinger House) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2000 Cathedral Square, Cathedral Hill, Guildford, GU2 7YL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directo r has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. In making this assessment, the director acknowledges the company's net current liabilities position and notes that the company completed a refinancing of the bank and other loans during the year and that it retains the support of its shareholdres to complete the planned redevelopment of the property. Consequently, the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Other operating income

Other operating income comprises rental income from tenants of the property held as part of the company's development stock. Rental income is recognised on an accruals basis in the period in which it is earned, in accordance with the terms of the lease.

1.4
Borrowing costs

Borrowing costs are capitalised against the development stock or written off to profit or loss in proportion to the level of activity of both the development trade and the rental trade during the year.

1.5
Stocks

Stocks represent development property stocks which is held at the lower of cost and net realisable value, being estimated selling price less costs to complete and sell. Costs comprise development expenditure directly attributable to the project.

At the balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the profit & loss account.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

WILLIAM GEORGE HOMES (ABINGER HOUSE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 3 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and other loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
WILLIAM GEORGE HOMES (ABINGER HOUSE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 4 -
3
Stocks
2025
2024
£
£
Development stock
4,878,115
3,890,506
Included within the development stock are capitalised borrowing costs of £902,193 (2024: £275,303).
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
-
0
24,259
Other debtors
156,911
71,832
156,911
96,091
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
-
0
2,639,084
Other loans
-
0
998,037
Trade creditors
175,031
148,217
Taxation and social security
-
0
1,773
Other creditors
537,046
320,585
Accruals and deferred income
3,041
5,080
715,118
4,112,776

Bank loans and other loans are secured against development stock.

6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
3,375,376
-
0
Other loans
1,137,201
-
0
4,512,577
-
0

Bank loans and other loans are secured against development stock.

7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
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