REGISTERED NUMBER: 06182028 (England and Wales)

Unaudited Financial Statements

for the Year Ended 5 April 2026

for

Full House Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

B K Lane-Smith

Mrs S A N Lane-Smith

SECRETARY:

Mrs S A N Lane-Smith

REGISTERED OFFICE:

Springfield Lodge

High Street

Halberton

TIVERTON

Devon

EX16 7AW

REGISTERED NUMBER:

06182028 (England and Wales)

ACCOUNTANTS:

A C Mole LLP

Chartered Accountants

Stafford House

Blackbrook Park Avenue

Taunton

Somerset

TA1 2PX

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

698,000

894,000

698,000

894,000

CURRENT ASSETS

Debtors

6

48,047

185,761

Cash at bank

23,538

36,986

71,585

222,747

CREDITORS

Amounts falling due within one year

7

62,799

121,920

NET CURRENT ASSETS

8,786

100,827

TOTAL ASSETS LESS CURRENT LIABILITIES

706,786

994,827

CREDITORS

Amounts falling due after more than one year

8

-

(243,145

)

PROVISIONS FOR LIABILITIES

10

(45,983

)

(54,983

)

NET ASSETS

660,803

696,699

CAPITAL AND RESERVES

Called up share capital

1

1

Non-distributable reserves

11

264,798

320,819

Retained earnings

11

396,004

375,879

SHAREHOLDERS' FUNDS

660,803

696,699

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2026 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 22 May 2026 and were signed on its behalf by:

B K Lane-Smith - Director

1.	STATUTORY INFORMATION

Full House Developments 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets, and certain assets and liabilities measured at fair value through the profit and loss account.

Turnover

Turnover represents rental income receivable in relation to property management.

Tangible fixed assets

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

Plant and machinery

-

25% on cost

Computer equipment

-

33% 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.

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 NIL (2025 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 6 April 2025

and 5 April 2026

324

2,768

3,092

DEPRECIATION

At 6 April 2025

and 5 April 2026

324

2,768

3,092

NET BOOK VALUE

At 5 April 2026

-

-

-

At 5 April 2025

-

-

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 6 April 2025

894,000

Disposals

(160,000

)

Impairments

(36,000

)

At 5 April 2026

698,000

NET BOOK VALUE

At 5 April 2026

698,000

At 5 April 2025

894,000

Fair value at 5 April 2026 is represented by:

£

Valuation in 2008

37,781

Valuation in 2010

40,000

Valuation in 2014

85,000

Valuation in 2016

52,000

Valuation in 2018

73,000

Valuation in 2021

55,000

Valuation in 2023

21,000

Valuation in 2025

(17,000

)

Valuation in 2026

(36,000

)

Cost

387,219

698,000

If investment properties had not been revalued they would have been included at the following historical cost:

2026

2025

£

£

Cost

387,219

518,199

Investment property was valued on an open market basis on 5 April 2026 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

1,560

625

Amounts owed by associated undertakings

46,000

185,000

Other debtors

487

136

48,047

185,761

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Taxation and social security

-

56,991

Other creditors

62,799

64,929

62,799

121,920

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

-

243,145

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

-

243,145

9.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Bank loans

-

243,145

Bank loans are secured on the investment properties.

10.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

45,983

54,983

Deferred

tax

£

Balance at 6 April 2025

54,983

Utilised during year

(9,000

)

Balance at 5 April 2026

45,983

11.

RESERVES

Retained

Non-distributable

earnings

reserves

Totals

£

£

£

At 6 April 2025

375,879

320,819

696,698

Deficit for the year

(35,896

)

(35,896

)

Realised gain transferred

65,021

(65,021

)

-

Unrealised gain provision

(9,000

)

9,000

-

At 5 April 2026

396,004

264,798

660,802

12.	RELATED PARTY DISCLOSURES

Included in debtors is £46,000 (2025 - £185,000) which is due from West Country Real Estates Ltd to Full House Developments Ltd. This represents the net amount of payments and receipts made by each company on behalf of the other.

Mr BK Lane Smith and Mrs SAN Lane-Smith are the directors and shareholders of the company.