Company No: 00810705 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	5,835		7,780
Investment property	4	7,732,750		7,922,550
		7,738,585		7,930,330
Current assets
Debtors	5	1,714,089		1,644,766
Cash at bank and in hand		40,771		60,242
		1,754,860		1,705,008
Creditors: amounts falling due within one year	6	( 539,795)		( 446,955)
Net current assets		1,215,065		1,258,053
Total assets less current liabilities		8,953,650		9,188,383
Provision for liabilities	7	( 1,314,286)		( 1,362,442)
Net assets		7,639,364		7,825,941
Capital and reserves
Called-up share capital		260		260
Share premium account		3,338,525		3,338,525
Fair value reserve	8	5,100,957		5,243,307
Profit and loss account		( 800,378 )		( 756,151 )
Total shareholder's funds		7,639,364		7,825,941

For the financial year ending 31 October 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Haynes Developments Limited (registered number: 00810705) were approved and authorised for issue by the Board of Directors on 19 May 2026. They were signed on its behalf by:

C M D Haynes Director

J H C Haynes Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Haynes Developments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Albert Goodman, Lupin Way, Yeovil, BA22 8WW, United Kingdom. The principal place of business is Haynes Developments Limited, Sparkford, Yeovil, Somerset, BA22 7LH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Rental income is recognised at the fair value of the consideration received for the period to which it relates. Rental income received in advance of the period to which it relates is recognised within deferred income in other creditors on the balance sheet.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles	25 % reducing balance
Fixtures and fittings	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	7		5

3. Tangible assets

	Vehicles		Fixtures and fittings		Total
	£		£		£
Cost
At 01 November 2024	36,801		97,645		134,446
At 31 October 2025	36,801		97,645		134,446
Accumulated depreciation
At 01 November 2024	33,319		93,347		126,666
Charge for the financial year	870		1,075		1,945
At 31 October 2025	34,189		94,422		128,611
Net book value
At 31 October 2025	2,612		3,223		5,835
At 31 October 2024	3,482		4,298		7,780

4. Investment property

	Investment property
	£
Valuation
As at 01 November 2024	7,922,550
Fair value movement	(189,800)
As at 31 October 2025	7,732,750

Valuation

The company's investment properties were revalued on 31 October 2025 by the directors on a current open market basis. There has been no valuation of investment property by an independent valuer.

5. Debtors

	2025		2024
	£		£
Trade debtors	5,870		11,975
Amounts owed by Group undertakings	49,609		20,326
Amounts owed by connected companies	1,627,469		1,596,892
Prepayments and accrued income	21,623		15,573
Corporation tax	9,518		0
	1,714,089		1,644,766

Amounts owed by Group undertakings and connected companies are repayable on demand and do not bear interest.

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	12,172		10,185
Amounts owed to connected companies	1,449		0
Amounts owed to directors	379,444		384,785
Accruals and deferred income	124,855		15,448
Taxation and social security	6,820		22,547
Other creditors	15,055		13,990
	539,795		446,955

Amounts owed to connected companies are repayable on demand and do not bear interest.

7. Provision for liabilities

	2025		2024
	£		£
Deferred tax	1,314,286		1,362,442

8. Changes in equity

	Fair value reserve
	£
At 01 November 2024	5,243,307
Transfer of fair value revaluation from the profit and loss account	( 189,800)
Transfer of deferred tax on fair value adjustments from the profit and loss account	47,450
Total comprehensive loss	( 142,350)
At 31 October 2025	5,100,957
At 01 November 2023	5,243,307
At 31 October 2024	5,243,307

9. Related party transactions

Other related party transactions

The company has taken advantage of the exemptions provided from disclosing transactions with its parent on the grounds that it is a wholly owned subsidiary.

10. Ultimate controlling party

The company's immediate parent is Haynes Developments Holdings Ltd, incorporated in England and Wales.

Its registered office address is Albert Goodman, Lupin Way, Yeovil, Somerset, United Kingdom, BA22 8WW.

These financial statements are available upon request from Companies House, Cardiff.