This report was approved by the board of directors on 22 May 2026
and signed on behalf of the board by:

Name: Patrick David Taft
Status: Director

Change in basis of preparation: The company has previously prepared its accounts under FRS 105 (the Micro-entities Regime). For the year ended 31 August 2025 the company ceased to qualify as a micro-entity as turnover (£1,537,500) exceeded the FRS 105 threshold. The financial statements have therefore been prepared under FRS 102 Section 1A (Small Entities). Prior period adjustment: comparative figures at 31 August 2024 have been restated. The previously filed micro-entity accounts reported net liabilities of £619, comprising current assets of £6 and creditors of £625. The £625 creditor represented an accountancy fee accrual that on review was determined to be no longer required. This has been released and treated as a prior period adjustment under FRS 102 Section 10, restating net assets at 31 August 2024 to £6.

Debtors of £161,097 comprise amounts owed by the subsidiary undertaking Group D Architects Limited (company number 11127087), arising principally from the £1,320,053 payment made by the company to Hg Portfolio Limited on 6 November 2024 on settlement of the Dye House project funding, which had been routed through Group D Architects Limited's bank account, net of £1,027,733 paid by Group D Architects Limited on the company's behalf to acquire Dye House and £131,200 of Dye House pre-acquisition costs reallocated from Group D Architects Limited. The balance falls due within one year.

Creditors falling due within one year of £235,465 comprise: (i) Distribution payable to Hg Portfolio Limited £156,977, representing the 50% shareholder's accrued share of pre-tax profit on the Dye House development project, treated as a distribution under the project funding arrangement (see arrangement note); and (ii) Corporation tax payable £78,488 at 25% of taxable profit of £313,953.

Creditors falling due after more than one year of £150,000 comprise project funding advanced by Hg Portfolio Limited (the 50% shareholder) to finance the Sandy Road development, repayable on completion of that property's sale. A second tranche of £100,000 was advanced after the reporting date in January 2026.

Change in basis of preparation. The company has previously prepared its financial statements under FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime' and filed micro-entity accounts at Companies House. During the year ended 31 August 2025, turnover of £1,537,500 exceeded the FRS 105 maximum turnover threshold of £632,000 applicable to accounting periods beginning before 6 April 2025 and the company ceased to qualify as a micro-entity. The financial statements for the year ended 31 August 2025 have accordingly been prepared under FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', Section 1A 'Small Entities'. Prior period adjustment. Comparative figures at 31 August 2024 have been restated in accordance with FRS 102 Section 10 'Accounting Policies, Estimates and Errors'. The financial statements for the year ended 31 August 2024 as previously filed reported net liabilities of £619, comprising current assets of £6 and creditors falling due within one year of £625. On review, the £625 creditor balance, which represented an accountancy fee accrual brought forward from prior periods, was determined to be no longer required. The £625 accrual has been released and treated as a prior period adjustment to opening retained earnings, restating net assets at 31 August 2024 to £6 (being share capital of £6 and retained earnings of nil). The restatement has no impact on profit for the year ended 31 August 2025.

Sandy Road property completion (material non-adjusting event). On 18 May 2026, after the reporting period, the company completed a back-to-back property transaction at Sandy Lane: purchase from Dutton Gregory for £1,000,000 and sale to a third party for £1,600,000 plus a buyer's contribution to planning-related costs of £310,045, less Napthens solicitor fees and search costs (with VAT) of £26,555. Net cash received by the company on completion was £883,490. This transaction is expected to generate gross profit of approximately £820,000 in the year ending 31 August 2026. As at 31 August 2025, work in progress costs of £60,494 relating to this site (Sandy Road) were carried in stocks and a related Hg Portfolio Limited loan of £150,000 was carried as a creditor falling due after more than one year, both of which will be released and repaid respectively in the year ending 31 August 2026. A second tranche of Hg Portfolio funding of £100,000 for Sandy Road was advanced in January 2026, after the reporting date.