REGISTERED NUMBER: 00686564 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

FOR

HEVINGHAM DEVELOPMENT COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs A M Magnus

Mrs P C Hinchley

Mr A P Magnus

Mr J T Magnus

SECRETARY:

Mrs A M Magnus

REGISTERED OFFICE:

The Sawmills

The Street

Felthorpe

Norwich

Norfolk

NR10 4DH

REGISTERED NUMBER:

00686564 (England and Wales)

ACCOUNTANTS:

Sexty & Co

Chartered Certified Accountants

124 Thorpe Road

Norwich

Norfolk

NR1 1RS

BANKERS:

Barclays Bank PLC

Market Place

Aylsham

Norwich

Norfolk

FIXED ASSETS

Tangible assets

4

593,995

604,412

Investment property

5

8,651,724

8,651,724

9,245,719

9,256,136

CURRENT ASSETS

Stocks

490

500

Debtors

6

761,354

756,004

Cash at bank

3,093

14,406

764,937

770,910

CREDITORS

Amounts falling due within one year

7

1,009,255

1,030,464

NET CURRENT LIABILITIES

(244,318

)

(259,554

)

TOTAL ASSETS LESS CURRENT LIABILITIES

9,001,401

8,996,582

PROVISIONS FOR LIABILITIES

1,493,100

1,489,800

NET ASSETS

7,508,301

7,506,782

CAPITAL AND RESERVES

Called up share capital

2,000

2,000

Retained earnings

8

7,506,301

7,504,782

SHAREHOLDERS' FUNDS

7,508,301

7,506,782

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 28 April 2026 and were signed on its behalf by:

Mr J T Magnus - Director

1.	STATUTORY INFORMATION

Hevingham Development Company 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.

The financial statements are presented in pounds sterling and are rounded to the nearest pound.

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.

Freehold property

-

2% on cost

Machinery

-

10% on cost

Fixtures and fittings

-

12.5% on cost

Motor vehicles

-

25% on cost

Caravan

-

10% on cost

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 15 (2024 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Freehold

property

land

Machinery

£

£

£

COST

At 1 May 2024

725,568

232,816

68,584

Additions

-

-

1,333

At 30 April 2025

725,568

232,816

69,917

DEPRECIATION

At 1 May 2024

371,657

-

54,270

Charge for year

14,512

-

1,848

At 30 April 2025

386,169

-

56,118

NET BOOK VALUE

At 30 April 2025

339,399

232,816

13,799

At 30 April 2024

353,911

232,816

14,314

Fixtures

and

Motor

fittings

vehicles

Caravan

Totals

£

£

£

£

COST

At 1 May 2024

206,025

54,596

7,353

1,294,942

Additions

364

6,480

-

8,177

At 30 April 2025

206,389

61,076

7,353

1,303,119

DEPRECIATION

At 1 May 2024

202,654

54,596

7,353

690,530

Charge for year

614

1,620

-

18,594

At 30 April 2025

203,268

56,216

7,353

709,124

NET BOOK VALUE

At 30 April 2025

3,121

4,860

-

593,995

At 30 April 2024

3,371

-

-

604,412

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2024

and 30 April 2025

8,651,724

NET BOOK VALUE

At 30 April 2025

8,651,724

At 30 April 2024

8,651,724

Fair value at 30 April 2025 is represented by:

£

Valuation in 2025

7,556,848

Cost

1,094,876

8,651,724

The investment property was valued on an open market basis by the Directors.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

242,051

254,860

Other debtors

519,303

501,144

761,354

756,004

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

58,257

32,164

Taxation and social security

40,946

83,862

Other creditors

910,052

914,438

1,009,255

1,030,464

8.

RESERVES

Included within retained earnings is £6,064,548 of non distributable reserves.

9.	RELATED PARTY DISCLOSURES

Other creditors include the following amounts owed to / (from) directors and other related parties:

2025

2024

£

£

Mrs A M Magnus

83,791

87,708

Mrs P C Hinchley

(174

)

(174

)

Mr A P Magnus

42,400

45,176

Mr J T Magnus

33,342

35,176

During the year, the company entered into transactions with the following companies in which Mrs A M Magnus, Mrs P C Hinchley, Mr A P Magnus and Mr J T Magnus are directors and shareholders:

a) The company provided building materials and services to Horsford Development Co Ltd at a market value of £2,073 (2024 £26,716). A net amount of £115,423 (2024 £78,193) was owed to Horsford Development Co Ltd at the balance sheet date.

b) The company provided building materials and services to G T Morrison Ltd at a market value of £22,346 (2024 £18,598). G T Morrison Ltd provided goods and services to the company at a market value of £17,353 (2024 £14,016). A net amount of £558,845 (2024 £543,709) was due from G T Morrison Ltd at the balance sheet date.

c) The company recharged expenditure to Dog Lane Blockworks Ltd at a market value of £8,004 (2024 £195). A net amount of £567,227 (2024 £567,306) was owed to Dog Lane Blockworks Ltd at the balance sheet date.