Company Registration No. 11994089 (England and Wales)
HH Development Group Limited
Annual report and financial statements
for the year ended 31 December 2024
HH Development Group Limited
Company information
Directors
Patrick Shovlin
James O'Shea
Mark Booth
Company number
11994089
Registered office
Hayfield House
Arleston Way
Shirley
Solihull
West Midlands
England
B90 4LH
Independent auditor
Saffery LLP
10 Wellington Place
Leeds
LS1 4AP
HH Development Group Limited
Contents
Page
Strategic report
1
Directors' report
2 - 3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Income statement
8
Statement of comprehensive income
9
Statement of financial position
10
Statement of changes in equity
11
Notes to the financial statements
12 - 19
HH Development Group Limited
Strategic report
For the year ended 31 December 2024
1

The directors present the strategic report for the year ended 31 December 2024.

Review of the business

HH Development Group Limited continued to trade through 2024 supporting the Hayfield group of companies as a financier in what has been a difficult year for the UK housing market. During the year £4.3m of development costs were written off as not being recoverable.

For a more detailed Strategic Report of the Hayfield group of companies please refer to the financial statements of Hayfield Homes Development Group Limited.

Promoting the success of the company

In accordance with s.172 of the Companies Act (the “Act”), the Directors understand their statutory duties to promote the success of the Company for the benefit of its primary stakeholders, being its customers, people, sub-contractors, and shareholders.

The Company regularly engages with its primary stakeholders through various methods to ensure their needs are met in a way that promotes the success of the Hayfield brand for the benefit of all stakeholders.

The Company recognises the importance of all its stakeholders to the business including its shareholders who are regularly provided at Board meetings with business and performance updates so that long term sustainability and growth can be maximised through informed decision making.

On behalf of the board

Mark Booth
Director
18 March 2026
HH Development Group Limited
Directors' report
For the year ended 31 December 2024
2

The directors present their annual report and financial statements for the year ended 31 December 2024.

Principal activities

The principal activity of the company continued to be that of a financier.

Results and dividends

The results for the year are set out on page 8.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Patrick Shovlin
James O'Shea
Mark Booth
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

HH Development Group Limited
Directors' report (continued)
For the year ended 31 December 2024
3
Going Concern

Hayfield began operations in 2018 with a view of building housing developments over a finite number of years. Hayfield has prided itself in building eco-efficient houses, winning national awards year on year and becoming a well-known name in the industry.

2025 sees the Group enter it’s eighth year of trading and the latter stages of the scheme’s timeframe, so in line with forecasts, the Group will begin to reduce the number of housing developments it builds. The Group continues to hold a substantial land bank of plots and will look for future opportunities to sell the land.

Hayfield continues to have a strong relationship with its key debt provider, Oaknorth PLC who have assisted the business through a difficult 2025 providing injection of funds as and when required, with continued commitment through 2026 and beyond. With the continued support of other stakeholders as well, the Group will continue to trade, meeting all of its operational obligations.

The Group’s Board of Directors remain focused on taking the actions necessary to safeguard the operational strength of the Hayfield brand. The directors consider monthly management accounts and forecasts to enable them to make the appropriate decisions to ensure the operational existence of the business. Given the ongoing instability of the housing market, Hayfield continues to prepare sensitised forecasts which show the ability of the Group to work within the facilities provided by Oaknorth PLC for a period of at least 12 months from post approval of these financial statements.

At the same time, Hayfield prioritises the health and safety of our employees and sub-contractors, whilst providing customers with an enjoyable journey towards their Hayfield home.

Forecasts

The directors consider monthly management accounts and forecasts to enable them to make the appropriate decisions to ensure the operational existence of the business going forward.

The pressure of a downturn in the housing market has led to Hayfield preparing sensitised forecasts which show the ability of the Group to work within the facilities provided by Oaknorth PLC for a period of at least 12 months from post approval of these financial statements. The forecasts have been sensitised to take into account the Board’s worst-case scenario but with reasonable levels of completions over the going concern period. The current performance of the Group and the sales pipeline for Q1 2026 remain favourable against this downside position.

Conclusion

The directors have a reasonable expectation that the Group and therefore the company will have adequate resources available to continue in operational existence for the foreseeable future.

On behalf of the board
Mark Booth
Director
18 March 2026
HH Development Group Limited
Directors' responsibilities statement
For the year ended 31 December 2024
4

The directors are responsible for preparing the annual report 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;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

- 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.

HH Development Group Limited
Independent auditor's report
To the members of HH Development Group Limited
5
Opinion

We have audited the financial statements of HH Development Group Limited (the 'company') for the year ended 31 December 2024 which comprise the income statement, the statement of comprehensive income, the statement of financial position, the statement of changes in equity and notes to the financial statements, including 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 31 December 2024 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 Auditor's 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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.

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 course of 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.

HH Development Group Limited
Independent auditor's report (continued)
To the members of HH Development Group Limited
6

Opinions on other matters prescribed by the Companies Act 2006

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

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report 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 identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which 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 directors' r esponsibilities s tatement, 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 is 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.

Auditor's 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 an auditor's report 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the company’s financial statements to material misstatement and how fraud might occur, including through discussions with the directors, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the company by discussions with directors and by updating our understanding of the sector in which the company operates.

HH Development Group Limited
Independent auditor's report (continued)
To the members of HH Development Group Limited
7

Laws and regulations of direct significance in the context of the company include The Companies Act 2006 and UK Tax legislation.

Audit response to risks identified

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the company's records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the company's policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 an auditor's report 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.

Jonathan Davis
Senior Statutory Auditor
For and on behalf of Saffery LLP
18 March 2026
Statutory Auditors
10 Wellington Place
Leeds
LS1 4AP
HH Development Group Limited
Income statement
For the year ended 31 December 2024
8
2024
2023
Notes
£
£
Turnover
-
-
Cost of sales
(4,373,811)
-
Gross (loss)/profit
(4,373,811)
-
Loss before taxation
(4,373,811)
-
0
Tax on loss
5
-
0
-
0
Loss for the financial year
(4,373,811)
-
0

The income statement has been prepared on the basis that all operations are continuing operations.

HH Development Group Limited
Statement of comprehensive income
For the year ended 31 December 2024
9
2024
2023
£
£
Loss for the year
(4,373,811)
-
0
Other comprehensive income
-
-
Total comprehensive income for the year
(4,373,811)
-
0
HH Development Group Limited
Statement of financial position
As at 31 December 2024
10
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
6
48
47
Current assets
Stocks
8
7,080,800
9,310,138
Cash at bank and in hand
298,972
55,473
7,379,772
9,365,611
Creditors: amounts falling due within one year
9
(12,253,630)
(9,865,657)
Net current liabilities
(4,873,858)
(500,046)
Net liabilities
(4,873,810)
(499,999)
Capital and reserves
Called up share capital
10
1
1
Profit and loss reserves
(4,873,811)
(500,000)
Total equity
(4,873,810)
(499,999)
The financial statements were approved by the board of directors and authorised for issue on 18 March 2026 and are signed on its behalf by:
Mark Booth
Director
Company Registration No. 11994089
HH Development Group Limited
Statement of changes in equity
For the year ended 31 December 2024
11
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2023
1
(500,000)
(499,999)
Year ended 31 December 2023:
Profit and total comprehensive income
-
-
0
-
0
Balance at 31 December 2023
1
(500,000)
(499,999)
Year ended 31 December 2024:
Loss and total comprehensive income
-
(4,373,811)
(4,373,811)
Balance at 31 December 2024
1
(4,873,811)
(4,873,810)
HH Development Group Limited
Notes to the financial statements
For the year ended 31 December 2024
12
1
Accounting policies
Company information

HH Development Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Hayfield House, Arleston Way, Shirley, Solihull, West Midlands, England, B90 4LH.

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.

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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Hayfield Homes Development Group Limited. These consolidated financial statements are available from Companies House.

1.2
Going concern

The directors note the net liability position of £4,873,811. The Stock balance of £7,080,800 is expected to be used to trade into profitability in the future. The parent company have confirmed that they will support this entity for the following 12 months. true At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future given the parent company support. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

HH Development Group Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies (continued)
13

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to net realisable value.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
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.

1.6
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 statement of financial position 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, 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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

HH Development Group Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies (continued)
14
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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, loans from fellow group companies and preference shares that are classified as debt, 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.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

HH Development Group Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies (continued)
15
Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
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, estimates and assumptions about the carrying 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 current and future periods.

3
Auditor's remuneration

The audit fee for the company is borne by Hayfield Homes Construction Ltd, a fellow group company,

4
Employees

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

2024
2023
Number
Number
Total
0
0
HH Development Group Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
16
5
Taxation

The actual charge for the year can be reconciled to the expected credit for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Loss before taxation
(4,373,811)
-
0
Expected tax credit based on the standard rate of corporation tax in the UK of 25.00% (2023: 23.52%)
(1,093,453)
-
0
Movement in deferred tax not recognised
1,093,453
-
0
Taxation charge for the year
-
-
6
Fixed asset investments
2024
2023
Notes
£
£
Investments in subsidiaries
7
48
47
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 January 2024
47
Additions
1
At 31 December 2024
48
Carrying amount
At 31 December 2024
48
At 31 December 2023
47
HH Development Group Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
17
7
Subsidiaries

Details of the company's subsidiaries at 31 December 2024 are as follows:

Name of undertaking
Address
Nature of business
Class of shares held
% Held
Direct
Indirect
HH (Clifton) Limited
1
2
Ordinary
100.00
-
HH (Upper Quinton) Limited
1
2
Ordinary
100.00
-
HH (Clophill) Limited
1
2
Ordinary
100.00
-
HH (Blunsdon) Limited
1
2
Ordinary
100.00
-
HH (Woburn) Limited
1
2
Ordinary
100.00
-
HH (Great Gransden) Limited
1
2
Ordinary
100.00
-
HH (Moggerhanger) Limited
1
2
Ordinary
100.00
-
Hayfield (Clifton) Limited
1
2
Ordinary
0
100.00
HH (Hanslope) Limited
1
2
Ordinary
100.00
-
HH (Bromham) Limited
1
2
Ordinary
100.00
-
HH (Stoke Mandeville) Limited
1
2
Ordinary
100.00
-
HH (Over) Limited
1
2
Ordinary
100.00
-
HH (Little Kimble) Limited
1
2
Ordinary
100.00
-
HH (Wokingham) Limited
1
2
Ordinary
100.00
-
HH (Knowle) Limited
1
2
Ordinary
100.00
-
HH (Clifton 2) Limited
1
2
Ordinary
100.00
-
HH (Finmere) Limited
1
2
Ordinary
100.00
-
HH (West Lavington) Limited
1
2
Ordinary
100.00
-
HH (Codicote) Limited
1
2
Ordinary
100.00
-
HH (Parkway) Limited
1
2
Ordinary
100.00
-
HH (Beadlow) Limited
1
2
Ordinary
100.00
-
HH (Eastern Villages) Limited
1
2
Ordinary
100.00
-
HH (Adderbury) Limited
1
2
Ordinary
100.00
-
HH (Hallow 3) Limited
1
2
Ordinary
100.00
-
HH (Woburn Two) Limited
1
2
Ordinary
100.00
-
HH (Clophill 2) Limited
1
2
Ordinary
100.00
-
Wises Farm (East Challow) Limited
1
2
Ordinary
100.00
-
HH (Upper Caldecote) Limited
1
2
Ordinary
100.00
-
HH (Toddington) Limited
1
2
Ordinary
100.00
-
HH (Campton) Limited
1
2
Ordinary
100.00
-
HH (Gotherington) Limited
1
2
Ordinary
100.00
-
HH (Twyning) Limited
1
2
Ordinary
100.00
-
HH (Martley) Limited
1
2
Ordinary
100.00
-
HH (Drakes Broughton) Limited
1
2
Ordinary
100.00
-
HH (Little Harrowden) Limited
1
2
Ordinary
100.00
-
HH (Orwell) Limited
1
2
Ordinary
100.00
-
HH (Strotford) Limited
1
2
Ordinary
100.00
-
HH (Cleeve Prior) Limited
1
2
Ordinary
100.00
-
HH (Worminghall) Limited
1
2
Ordinary
100.00
-
HH (Hanslope 2) Limited
1
2
Ordinary
100.00
-
HH (Castlethorpe) Limited
1
2
Ordinary
100.00
-
HH (Malmesbury) Limited
1
2
Ordinary
100.00
-
HH (Lemsford) Limited
1
2
Ordinary
100.00
-
HH (Fairfield) Limited
1
2
Ordinary
100.00
-
HH Development Group Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
7
Subsidiaries
Name of undertaking
Address
Nature of business
Class of shares held
% Held
Direct
Indirect (continued)
18
HH (Prestbury) Limited
1
2
Ordinary
100.00
-
HH (Ashton Clinton) Limited
1
2
Ordinary
100.00
-
Hayfield Cheltenham
1
2
Ordinary
100.00
-
HH (Eaton Bray)
1
2
Ordinary
100.00
-
HH (Maulden) Limited
1
2
Ordinary
100.00
-

Registered office addresses (all UK unless otherwise indicated):

1
Hayfield House, Arleston Way, Shirley. Solihull, B90 4LH
2
Construction of domestic buildings
8
Stocks
2024
2023
£
£
Raw materials and consumables
100,785
140,028
Work in progress
6,980,015
9,170,110
7,080,800
9,310,138
9
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
12,219,244
9,865,657
Accruals and deferred income
34,386
-
0
12,253,630
9,865,657
10
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1

Ordinary shares are entitled to voting rights, a right to a distribution, on a return of capital of assets, upon liquidation or otherwise. Ordinary shares are not redeemable.

HH Development Group Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
19
11
Ultimate controlling party

The parent company of HH Development Group Limited is HH Facilities Limited and its registered office is Hayfield House, Arleston Way, Shirley, Solihull B90 4HL.

There is no ultimate controlling party.

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