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REGISTERED NUMBER: 11834154 (England and Wales)

| Wakefield Development Co Ltd |

| Financial Statements |

| for the Year Ended 26 February 2025 |

Wakefield Development Co Ltd (Registered number: 11834154)

Contents of the Financial Statements

for the year ended 26 February 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Wakefield Development Co Ltd

Company Information

for the year ended 26 February 2025

| DIRECTORS: | Mr A M Cousins

| Mrs N A Cousins

| REGISTERED OFFICE: | 20/22 Little Westgate

| Wakefield

| West Yorkshire

| WF1 1LB

| REGISTERED NUMBER: | 11834154 (England and Wales)

| ACCOUNTANTS: | SMH Jolliffe Cork Ltd

| Accountants & Business Advisors

| 33 George Street

| Wakefield

| West Yorkshire

| WF1 1LX

Wakefield Development Co Ltd (Registered number: 11834154)

Balance Sheet

26 February 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Investment property | 4 | 1,200,000 |  | 1,438,334 |  |

CURRENT ASSETS

Debtors | 5 | 35,497 |  | 21,277 |  |

Cash at bank | 85,730 |  | 36,012 |  |

121,227 |  | 57,289 |  |

CREDITORS

Amounts falling due within one year | 6 | 41,144 |  | 103,397 |  |

NET CURRENT ASSETS/(LIABILITIES) | 80,083 |  | (46,108 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,280,083 |  | 1,392,226 |  |

CREDITORS

Amounts falling due after more than one year | 7 | 479,814 |  | 485,569 |  |

NET ASSETS | 800,269 |  | 906,657 |  |

Wakefield Development Co Ltd (Registered number: 11834154)

Balance Sheet - continued

26 February 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

CAPITAL AND RESERVES

Called up share capital | 10 | 25,000 |  | 25,000 |  |

Retained earnings | 775,269 |  | 881,657 |  |

SHAREHOLDERS' FUNDS | 800,269 |  | 906,657 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 26 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 26 February 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 18 February 2026 and were signed on its behalf by:

Mr A M Cousins - Director

Wakefield Development Co Ltd (Registered number: 11834154)

Notes to the Financial Statements

for the year ended 26 February 2025

1. | STATUTORY INFORMATION

| Wakefield Development Co Ltd 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. | 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.

| Turnover solely comprises rents receivable which is recognised on an accruals basis.

| 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.

| Financial instruments

| The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

| All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

| Financial assets and liabilities are only offset in the balance sheet when and only when there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

| Financial assets are derecognised when and only when; a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or, c) the company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

| Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

| 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.

Wakefield Development Co Ltd (Registered number: 11834154)

Notes to the Financial Statements - continued

for the year ended 26 February 2025

2. | ACCOUNTING POLICIES - continued

| 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 lease agreements

| Where the company retains substantially all the risks and rewards of ownership of the asset subject to the lease, as lessor, the asset is shown within fixed assets. Rental income from these operating leases is recognised on a straight line basis over the period of the lease. Operating lease incentives offered by the company are accounted for as a reduction of the rental income and are allocated over the lease term.

3. | EMPLOYEES AND DIRECTORS

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

4. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 27 February 2024 | 1,438,334 |  |

| Additions | 2,796 |  |

| Disposals | (188,334 | ) |

| Revaluations | (52,796 | ) |

| At 26 February 2025 | 1,200,000 |  |

| NET BOOK VALUE

| At 26 February 2025 | 1,200,000 |  |

| At 26 February 2024 | 1,438,334 |  |

| The directors consider the fair value of the investment properties to be appropriate as at 26 February 2025.

| Fair value at 26 February 2025 is represented by:

£ |

| Valuation in 2025 | (52,796 | ) |

| Valuation in 2024 | 153,188 |  |

| Cost | 1,099,608 |  |

1,200,000 |  |

Wakefield Development Co Ltd (Registered number: 11834154)

Notes to the Financial Statements - continued

for the year ended 26 February 2025

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Amounts owed by related undertakings | 21,024 |  | - |  |

| Called up share capital not paid | - |  | 1 |  |

| Prepayments and accrued income | 14,473 |  | 21,276 |  |

35,497 |  | 21,277 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 10,136 |  | 10,000 |  |

| Amounts owed to related undertakings | - |  | 6,559 |  |

| Tax | 8,543 |  | 14,411 |  |

| Directors' current accounts | 10,000 |  | 55,700 |  |

| Accruals and deferred income | 12,465 |  | 16,727 |  |

41,144 |  | 103,397 |  |

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans - 1-2 years | 10,266 |  | 12,119 |  |

| Bank loans - 2-5 years | 462,881 |  | 473,450 |  |

| Bank Loans over 5 years | 6,667 |  | - |  |

479,814 |  | 485,569 |  |

8. | LEASING AGREEMENTS

| Company as lessor

| The company is party to a lease dated 3 January 2020 in respect of one of its investment properties. The contractual term is ten years with a review date at the fifth anniversary of the lease.

| The minimum rental income receivable under non-cancellable operating lease fall due as follows:

|  | 2025 |  |  | 2024 |

|  | £ |  |  | £ |

| Within one year |  | 75,000 |  |  | 75,000 |

| Between one and five years |  | 287,500 |  |  | 300,000 |

| Over five years |  | - |  |  | 62,500 |

|  | 362,500 |  |  | 437,500 |

Wakefield Development Co Ltd (Registered number: 11834154)

Notes to the Financial Statements - continued

for the year ended 26 February 2025

9. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank loans | 456,651 |  | 459,000 |  |

| Bank loans, excluding that facilitated through the coronavirus Bounce Back Loan Scheme, and other loans are secured by way of first and second legal charge's over one of the company's investment properties

10. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 25,000 | Ordinary | £1 | 25,000 |  | 25,000 |  |

11. | RELATED PARTY DISCLOSURES

| During the year, total dividends of £59,000 (2024 - £55,700) were paid to the directors .

| During the year monies were received, and expenditure incurred, on behalf of PJY Limited, a company with common directors. In addition, one of the company's investment properties was occupied by PJY Limited rent free. At the balance sheet date £21,024 was owed by PJY Limited (2024: £6,559 owed to PJY Limited).