REGISTERED NUMBER: 08680344 (England and Wales)

Unaudited Financial Statements For The Year Ended 30 September 2025

for

Ashill Land Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B O Boyce

P J Davies

S J Forman

S R Lavers

REGISTERED OFFICE:

c/o Fuller Spurling

58 Guildford Street

Chertsey

KT16 9BE

REGISTERED NUMBER:

08680344 (England and Wales)

ACCOUNTANTS:

Fuller Spurling

Mill House

58 Guildford Street

Chertsey

Surrey

KT16 9BE

FIXED ASSETS

Tangible assets

4

4,775

-

CURRENT ASSETS

Stocks

3,446,814

3,437,437

Debtors

5

507,774

209,487

Cash at bank

40,029

831,400

3,994,617

4,478,324

CREDITORS

Amounts falling due within one year

6

169,658

114,123

NET CURRENT ASSETS

3,824,959

4,364,201

TOTAL ASSETS LESS CURRENT LIABILITIES

3,829,734

4,364,201

CREDITORS

Amounts falling due after more than one year

7

(3,120,000

)

(2,500,000

)

PROVISIONS FOR LIABILITIES

10

(39,986

)

(53,469

)

NET ASSETS

669,748

1,810,732

CAPITAL AND RESERVES

Called up share capital

11

5,625

5,625

Capital redemption reserve

325

325

Retained earnings

663,798

1,804,782

669,748

1,810,732

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 24 March 2026 and were signed on its behalf by:

B O Boyce - Director

S R Lavers - Director

1.	STATUTORY INFORMATION

Ashill Land 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.

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.

Going concern

The company's forecasts and projections, taking account of reasonably foreseeable changes in trading performance, show that the company should be able to meet its obligations as they fall due.

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

a) Stock

There is estimation uncertainty in relation to stock impairment. Management estimate future costs to be incurred for each site and its predicted sales price. A review of the sites held within stock at the year end is also carried out to ensure that they are stated at the lower of cost and net realisable value.

There is also an assessment of the likelihood of planning being obtained on each site in order to determine whether costs incurred are recoverable. This requires an element of professional judgement to be exercised by the directors who are knowledgeable and experienced in this field.

b) Imputed interest

There was significant uncertainty in calculating the present value of an interest free loan creditor, principally due to difficulty in ascertaining a market interest rate for a comparable debt instrument for discounting purposes and the uncertainties affecting the predicted timing of the loan repayments under the loan terms.

The inherent uncertainties of predicting the timing of future repayments under the terms of the loan also leads to judgements concerning the amount of the discount to be recognised on an amortised cost basis for the financial year.

c) Fair Value of loans

There is estimation uncertainty in determining the fair value of certain loans. Some loans are linked to specific sites held in stock and part of the return on the loan is linked to the profit on sale of that site. These are therefore non basic financial instruments and need to be recognised at fair value. The judgement required is in determining the likely future cash flows to be discounted in order to estimate the fair value.

Turnover

Turnover is derived from the company's principal activity, being strategic land promotion and property development.

Turnover represents amounts receivable for goods and services provided in the normal course of business net of any discounts, value added tax and other sales-related taxes. All revenue is anticipated to be generated in the UK. Site development sales are recognised upon legal completion.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on cost

Tangible fixed assets are recognised at cost less accumulated depreciation.

Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Stocks

Stocks are stated at the lower of cost and net realisable value. Cost includes the acquisition cost and other fees directly attributable to the development of the site, or the fees payable for land options. Net realisable value is based on estimated selling price, less further costs expected to be incurred to completion and disposal. Acquisitions of sites are recognised upon exchange of contracts when a binding undertaking is entered into. The balance of exchange monies payable are shown as a creditor until legal completion and the balance of monies are paid.

The company incurs expenditure on speculative sites which may or may not proceed to development. At the year end, the directors assess the likelihood of such sites proceeding to the development stage. Expenditure incurred on sites which are deemed by the directors to be less than probable in being taken forward are expensed through the statement of comprehensive income. Included in the statement of comprehensive income is £Nil (2024: £Nil) for expenditure incurred on speculative sites which may or may not proceed to development. £Nil (2024: £Nil) relating to expenditure previously recognised in the statement of comprehensive income where the site is now considered likely to proceed to development was credited to the statement of comprehensive income during the period. Stock included on the statement of financial position therefore includes costs relating to sites which the directors are confident will move to the development phase.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Basic financial assets and liabilities, including trade and other receivables, trade and other payables, cash and bank balances are recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts or payments discounted at a market rate of interest.

In respect of loans from companies with common control, which do not have a market rate of interest applied to them, the liability has been calculated at the net present value of future payments discounted at a market rate of interest applicable to similar debt instruments.

A reserve has been created in equity with the difference between the loan nominal value and the present value of anticipated future loan repayments being credited to equity as a deemed capital contribution.

An imputed interest expense is included in the financial statements as the discount is unwound. The directors have elected to make a transfer between the new reserve and retained earnings equal to the amount charged against profit and loss each year.

Long term loans which have an exit coupon attached to them are determined to be non basic financial instruments and are held at fair value. The fair value gain or loss is included within work in progress as a cost of the related development.

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.

Investments in subsidiaries and joint ventures

Investments in subsidiaries and joint ventures are recognised at cost. Details of subsidiaries and joint ventures are disclosed in the notes to the financial statements.

Pensions

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Finance costs

Finance costs of financial liabilities are recognised in the profit and loss account over the term of such instruments at a constant rate on the carrying amount.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

Additions

2,953

2,349

1,191

6,493

At 30 September 2025

2,953

2,349

1,191

6,493

DEPRECIATION

Charge for year

738

587

393

1,718

At 30 September 2025

738

587

393

1,718

NET BOOK VALUE

At 30 September 2025

2,215

1,762

798

4,775

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.25

30.9.24

as restated

£

£

Other debtors

507,774

209,487

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.25

30.9.24

as restated

£

£

Trade creditors

132,094

87,665

Taxation and social security

2,780

-

Other creditors

34,784

26,458

169,658

114,123

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.25

30.9.24

as restated

£

£

Other creditors

3,120,000

2,500,000

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.9.25

30.9.24

as restated

£

£

Within one year

207,280

207,280

Between one and five years

362,810

570,020

570,090

777,300

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.25

30.9.24

as restated

£

£

Other loans

3,120,000

2,500,000

Other loans are secured by way of fixed and floating charges over all property and undertakings of the company. Loans are stated in the financial statements at fair value.

There is a fixed charge in favour of the company's lenders, over the company's rights in respect of a land promotion agreement entered into on 17 August 2018.

The loan has no fixed repayment date and is not repayable on demand, being repayable only on the occurrence of certain events specified in the agreement. As at the balance sheet date those events have not occurred and the loan remains outstanding. The loan was initially recognised at its present value, with imputed interest recognised in the profit and loss account.All imputed interest has been recognised and the loan is classified as a long-term liability.

10.	PROVISIONS FOR LIABILITIES

30.9.25

30.9.24

as restated

£

£

Other provisions

39,986

53,469

Other

provisions

£

Balance at 1 October 2024

53,469

Balance at 30 September 2025

53,469

Other provisions are the discounted cost of an onerous lease contract, which runs until July 2028.

The lease has been sub let, however the annual cost exceeds the income receivable.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.09.25

30.09.24

value:

£

£

250,000

Ordinary

1p

2,500

2,500

139,200

A Redeemable

1p

1,392

1,392

950

B Redeemable

1p

10

10

172,075

C Ordinary

1p

1,721

1,721

950

D Redeemable

1p

1

1

950

E Redeemable

1p

1

10

5,625

5,625

During the prior year the Company undertook the following share transactions:

- Redeemed 14,500 A redeemable shares for consideration of £145.

- Redeemed 50 B redeemable shares for consideration of £0.50.

- Redeemed 5 D redeemable shares for consideration of £0.05.

- Redeemed 5 redeemable shares for consideration of £0.05.

- Cancelled 17,925 C ordinary shares for consideration of £179.25.

These transactions resulted in a reduction in the Company’s share capital.

12.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed entities under the control of the directors £2,500,000 (2024: £2,500,000) in respect of interest free loans and £620,000 (2024: £NIL) in respect of loans subject to a fixed interest rate of 7% per annum.

These loans are stated in the financial statements at a combined fair value of £3,120,000 (2024: £2,500,000).