Nethertown Developments Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 12846937

NETHERTOWN DEVELOPMENTS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 August 2025

NETHERTOWN DEVELOPMENTS LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2025

CONTENTS	PAGE

Statement of financial position	1

Notes to the financial statements	3

NETHERTOWN DEVELOPMENTS LIMITED

STATEMENT OF FINANCIAL POSITION

31 August 2025

	2025		2024
Note	£	£	£	£

CURRENT ASSETS

Stocks	4	3,207,744	5,682,635
Debtors	5	178,574	23,667
Cash at bank and in hand		35,230	24,681
		--------------	--------------
		3,421,548	5,730,983

CREDITORS: amounts falling due within one year	6	3,381,223		4,223,812
		--------------		--------------
NET CURRENT ASSETS			40,325		1,507,171
			---------		--------------
TOTAL ASSETS LESS CURRENT LIABILITIES			40,325		1,507,171

CREDITORS: amounts falling due after more than one year	7	–	1,730,699
		---------	--------------
NET ASSETS/(LIABILITIES)		40,325	( 223,528)
		---------	--------------

NETHERTOWN DEVELOPMENTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 August 2025

	2025		2024
Note	£	£	£	£

CAPITAL AND RESERVES

Called up share capital	8	100	100
Profit and loss account		40,225	( 223,628)
		---------	-----------
SHAREHOLDERS FUNDS/(DEFICIT)		40,325	( 223,528)
		---------	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 29 May 2026 , and are signed on behalf of the board by:

Mrs K Dunbar

Director

Company registration number: 12846937

NETHERTOWN DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Equitable House, 55 Pellon Lane, Halifax, West Yorkshire, HX1 5SP.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current and deferred tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

4. STOCKS

	2025	2024
	£	£
Stock of land	996,473	1,678,270
Work in progress of properties	2,211,271	4,004,365
	--------------	--------------
	3,207,744	5,682,635
	--------------	--------------

5. DEBTORS

	2025	2024
	£	£
Prepayments and accrued income	13,478	15,079
Other debtors	165,096	8,588
	-----------	---------
	178,574	23,667
	-----------	---------

6. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	1,134,427	1,911,303
Amounts owed to undertakings in which the company has a participating interest	2,215,500	2,280,500
Accruals and deferred income	2,050	14,009
Corporation tax	14,246	–
Deposits received	15,000	18,000
	--------------	--------------
	3,381,223	4,223,812
	--------------	--------------

7. CREDITORS: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	–	1,730,699
	-----	--------------

The following liabilities disclosed under creditors falling due after more than one year are secured by the company:

	2025	2024
	£	£
Bank loans and overdrafts	-	1,730,699
	-----	--------------

8. CALLED UP SHARE CAPITAL

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	-----	-----	-----	-----