B. G. Middleton (Developments) Ltd

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 7

B. G. Middleton (Developments) Ltd

(Registration number: 02616039)
Statement of Financial Position as at 30 September 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	1,997	2,832
Investment property	5	5,110,000	5,295,000
		5,111,997	5,297,832
Current assets
Debtors	6	93,622	96,543
Cash at bank and in hand		368,094	141,926
		461,716	238,469
Creditors: Amounts falling due within one year	7	(134,099)	(241,962)
Net current assets/(liabilities)		327,617	(3,493)
Total assets less current liabilities		5,439,614	5,294,339
Provisions for liabilities		(539,914)	(547,184)
Net assets		4,899,700	4,747,155
Capital and reserves
Called up share capital		2	2
Profit and loss account		4,899,698	4,747,153
Shareholders' funds		4,899,700	4,747,155

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 19 June 2026 and signed on its behalf by:
 

Mr B G Middleton Director

B. G. Middleton (Developments) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales..

The address of its registered office is:
Rafters
Broadhembury
Honiton
Devon
EX14 3NQ

Principal activity

The principal activity of the company is the ownership, development and management of investment properties.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Going concern

The financial statements have been prepared on a going concern basis.

B. G. Middleton (Developments) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

2	Accounting policies (continued)

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.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

B. G. Middleton (Developments) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

2	Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% reducing balance
Fittings, fixtures and equipment	15% reducing balance
Motor vehicles	25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Investment property

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

B. G. Middleton (Developments) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

4	Tangible assets

	Fixtures, fittings and equipment £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 October 2024	632	4,348	14,690	19,670
Additions	-	300	-	300
Disposals	-	(995)	(14,690)	(15,685)
At 30 September 2025	632	3,653	-	4,285
Depreciation
At 1 October 2024	332	2,280	14,226	16,838
Charge for the year	45	307	-	352
Eliminated on disposal	-	(676)	(14,226)	(14,902)
At 30 September 2025	377	1,911	-	2,288
Carrying amount
At 30 September 2025	255	1,742	-	1,997
At 30 September 2024	300	2,068	464	2,832

Revaluation

5	Investment properties

	2025 £
At 1 October	5,295,000
Disposals	(137,024)
Fair value adjustments	(47,976)
At 30 September	5,110,000

The investment properties are subject to valuation by the directors, and as at the year end their value is considered to be £5,110,000 (2024: £5,295,000).

B. G. Middleton (Developments) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

6

Debtors

	2025 £	2024 £
Trade debtors	78,684	80,433
Other debtors	10,000	10,000
Prepayments	4,938	6,110
	93,622	96,543

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	-	251
Taxation and social security	118,700	117,897
Accruals and deferred income	6,058	5,938
Other creditors	9,341	117,876
	134,099	241,962

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses. Undistributable reserves amounts to £2,025,917 (2024: £2,066,832)

B. G. Middleton (Developments) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

9	Directors advances, credits and guarantees

2025	At 1 October 2024 £	Advances to director £	Repayments by director £	At 30 September 2025 £
Directors'	(109,437)	230,097	(130,000)	(9,340)

2024	At 1 October 2023 £	Advances to director £	Repayments by director £	At 30 September 2024 £
Directors'	(349,428)	369,991	(130,000)	(109,437)

Directors' loans are repayable on demand and subject to interest on overdrawn balances at the official rate.