ACCOUNTS - Final Accounts

Company Registration Number 04049951

	R N WOOLER & CO (DEVELOPMENTS) LIMITED

	FINANCIAL STATEMENTS

	31 DECEMBER 2025

R N WOOLER & CO (DEVELOPMENTS) LIMITED

REGISTERED NUMBER: 04049951

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Investment property	5		2,447,450		3,787,500
			2,447,450		3,787,500
Current assets
Stocks		24,528,313		20,488,961
Debtors: amounts falling due within one year	6	1,554		2,296
Cash at bank and in hand	7	1,421,816		1,653,060
		25,951,683		22,144,317
Creditors: amounts falling due within one year	8	(23,422,181)		(21,758,194)
Net current assets			2,529,502		386,123
Total assets less current liabilities			4,976,952		4,173,623
Provisions for liabilities
Deferred tax	9	(38,765)		(155,000)
			(38,765)		(155,000)
Net assets			4,938,187		4,018,623

Capital and reserves
Called up share capital		100	100
Other reserves	11	1,041,084	1,024,899
Profit and loss account		3,897,003	2,993,624
		4,938,187	4,018,623

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

R N Wooler

Director

Date: 13 May 2026

The notes on pages 4 to 11 form part of these financial statements.

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R N WOOLER & CO (DEVELOPMENTS) LIMITED

REGISTERED NUMBER: 04049951

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2025

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R N WOOLER & CO (DEVELOPMENTS) LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2025

	Called up share capital	Non-distributable reserves	Profit and loss account	Total equity
	£	£	£	£
At 1 January 2024	100	1,018,899	2,609,934	3,628,933

Profit for the year	-	-	389,690	389,690
Total comprehensive income for the year	-	-	389,690	389,690
Transfer of revaluation of investment property	-	6,000	(6,000)	-

At 1 January 2025	100	1,024,899	2,993,624	4,018,623

Profit for the year	-	-	919,564	919,564
Total comprehensive income for the year	-	-	919,564	919,564
Transfer of revaluation of investment property	-	16,185	(16,185)	-
At 31 December 2025	100	1,041,084	3,897,003	4,938,187

The notes on pages 4 to 11 form part of these financial statements.

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R N WOOLER & CO (DEVELOPMENTS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

R N Wooler & Co (Developments) Limited is engaged in building and construction operating from their registered office located in Florence House, Lawkholme Business Park, Lawkholme Lane, Keighley, BD21 3LA.

The company is a private company limited by shares incorporated and domiciled in the United Kingdom. The company is a tax resident in the United Kingdom.

These financial statements have been presented in Pound Sterling as this is the currency of the primary economic environment in which the company operates.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;

∙the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of R N Wooler & Co (Holdings) Limited as at 31 December 2025 and these financial statements may be obtained from Companies House, Cardiff, CF14 3UZ.

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R N WOOLER & CO (DEVELOPMENTS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.3

Going concern

The directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. In reaching their conclusion, the directors have considered cashflows covering a period of 12 months from the date of sign off.

The company's directors and shareholders have also indicated their continuing support to allow the adoption of the going concern status by giving full support to the R N Wooler group. The only notable creditors are with group undertakings.

After consideration of all factors, the directors continue to adopt the going concern basis in preparing the financial statements.

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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R N WOOLER & CO (DEVELOPMENTS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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R N WOOLER & CO (DEVELOPMENTS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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 trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

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R N WOOLER & CO (DEVELOPMENTS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.14

Financial instruments (continued)

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of these financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses.

Judgements and estimates are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will be, by definition, seldom equal to the related actual results.

The directors consider the key accounting estimates to be the work-in-progress recoverability and carrying value of Investment property.

Management estimate the stage of completion of long term contracts by comparing actual costs incurred to forecasts, relying on their past experience and expertise to ensure those estimates are accurate.

Investment properties are formally valued when relevant with ongoing review by the directors for material changes to the carrying value.

Employees

The average monthly number of employees, including directors, during the year was 4 (2024 - 4).

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R N WOOLER & CO (DEVELOPMENTS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

5.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 January 2025	3,787,500
	Disposals	(1,240,000)
	Deficit on revaluation	(100,050)
	At 31 December 2025	2,447,450

The 2025 valuations were made by Harrison Boothman, chartered surveyors, on an open market value for existing use basis.


	At 31 December 2025

If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
	2025	2024
	£	£

	Historic cost	1,912,611	2,627,601
		1,912,611	2,627,601

Debtors

					2025	2024
					£	£


Trade debtors	919	1,862
Other debtors	635	434
	1,554	2,296

7.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	1,421,816	1,653,060
	1,421,816	1,653,060

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R N WOOLER & CO (DEVELOPMENTS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

8.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Amounts owed to group undertakings	23,405,181	21,623,064
Corporation tax	-	123,132
Accruals and deferred income	17,000	11,998
	23,422,181	21,758,194

Amounts owed to group undertakings are repayable on demand with no interest accrued on amounts due.

9.	Deferred taxation

	2025	2024
	£	£

At beginning of year	155,000	150,000
Charged to profit or loss	(116,235)	5,000
At end of year	38,765	155,000

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

	Revaluation surplus	38,765	155,000
		38,765	155,000

10.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

100 (2024 - 100) Ordinary shares of £1.00 each	100	100

11.

Reserves

Non-distributable reserves

The reserve represents the accumulated unrealised profits on the revaluation of the company's investment properties. The reserve is held net of deferred tax at the prevailing statement of financial position taxation rates.

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R N WOOLER & CO (DEVELOPMENTS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

12.	Contingent liabilities

The company has entered into an unlimited cross guarantee with its bankers in respect of the bank borrowings of R N Wooler & Co (Holdings) Limited and R N Wooler & Co Limited, secured by way of a charge on investment properties and stock. At the year end, R N Wooler & Co (Holdings) Limited had outstanding bank borrowings of £4,000,000 (2024 - £7,000,000).

The company has given security for a fellow subsidiary's creditor of £864,825 (2024 - £1,376,957). The creditor is secured over various of the company's investment properties.

13.	Related party transactions
	The company has taken advantage of the exemption contained in Section 33 of the FRS 102 'Related Party Disclosures' from disclosing transactions with entities which are part of the group, since 100% of the voting rights in the company are controlled within the group.

14.	Controlling party

The company's ultimate parent undertaking is R N Wooler & Co (Holdings) Limited, incorporated in England & Wales. The company is included in the consolidated financial statements of R N Wooler & Co (Holdings) Limited and the accounts are available at Companies House.

R N Wooler & Co (Holdings) Limited is under the control of R N Wooler.

15.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.

The audit report was signed on 13 May 2026 by Rohan Day (Senior Statutory Auditor) on behalf of Armstrong Watson Audit Limited.

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