Registration number:
Indevor Group Limited
for the Year Ended 31 December 2025
Indevor Group Limited
Contents
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Company Information |
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Strategic Report |
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Consolidated Balance Sheet |
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Balance Sheet |
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Notes to the Financial Statements |
Indevor Group Limited
Company Information
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Directors |
Mr L P Melly Mr Daniel Bartos Miss Jenna Bate Mr Thomas Egerton |
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Registered office |
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Indevor Group Limited
Strategic Report for the Year Ended 31 December 2025
The directors present their strategic report for the year ended 31 December 2025.
1. Executive Summary
2025 represented another year of strategic progress for Indevor Group despite continued challenges across the UK housebuilding sector. The Group delivered another profitable year whilst further strengthening its balance sheet and increasing shareholder value. Consolidated net worth increased by approximately 25%, reflecting the Board's continued focus on building a financially strong, independent and resilient business.
Indevor Group remains fully self-funded, with continued investment in its people, brands and infrastructure supporting long-term sustainable growth.
2. Group Overview and Core Principles
Indevor Group is a privately owned group of businesses originating from a 20+ year legacy of creating award-winning, innovative companies that serve the UK housebuilding and development industry.
All Indevor Group companies and brands share three core principles that are fundamental to our corporate identity:
Identify
Indevor Group continually identifies opportunities to improve efficiency and deliver specialist solutions across the housebuilding sector.
Innovate
Innovation remains central to our culture, with the continued development of market-leading products and services across our core disciplines.
Implement
Our businesses are built upon robust systems, clear communication and consistent delivery, providing clients with dependable long-term solutions.
3. Operational Structure and Disciplines
Indevor Group Limited provides strategic oversight and operational infrastructure support to three wholly owned divisions:
• Indevor Land
• Indevor Bonds
• Indevor Estates
Each division continues to strengthen its market position whilst delivering specialist services to the UK housebuilding industry.
Indevor Group Limited
Strategic Report for the Year Ended 31 December 2025
4. Business Review and Performance Overview
The UK housebuilding sector continued to face challenging trading conditions throughout 2025.
Against this backdrop, the Group continued to strengthen its financial position, deepen long-standing client relationships and invest in future growth opportunities. The Board believes the Group's diversified operating model and disciplined approach continue to provide a strong platform for long-term success.
5. Divisional Performance
Indevor Land
The division maintained its strategic approach throughout the year, preserving valuable opportunities and positioning itself to benefit from improving market conditions.
Board Commentary: Our disciplined approach continues to create long-term value whilst maintaining flexibility for future growth.
Indevor Bonds
Indevor Bonds delivered another excellent year, strengthening relationships with underwriting partners, professional introducers and clients, whilst continuing to enhance its position within the market.
Board Commentary: The division exceeded its strategic objectives during the year, with the successful launch of several new brands further strengthening its market position and supporting future market share growth.
Indevor Estates
Indevor Estates continued to expand its portfolio and reinforce its reputation as a trusted long-term partner for housebuilders requiring specialist infrastructure and open space ownership solutions.
Board Commentary: As anticipated, 2025 was a pivotal year for the division, with significant growth in its forward order book and a further strengthening of its unique position within the UK housebuilding industry.
6. Financial Position
The Group's financial position strengthened further during the year, with consolidated shareholder funds increasing by approximately 25%.
The business remains fully self-funded, maintains strong liquidity and continues to reinvest profits into strengthening the Group, supporting innovation and enhancing long-term resilience. Alongside its strong financial position, the Group has established relationships with leading institutional and wealth fund managers and maintains access to substantial external funding facilities, including an undrawn revolving credit facility, providing additional financial flexibility to support future strategic opportunities should they arise.
Board Commentary: Continued growth in shareholder value reflects the strength of our business model, disciplined financial management and our commitment to building a stable, well-capitalised business with the resources to support clients and long-term growth.
Indevor Group Limited
Strategic Report for the Year Ended 31 December 2025
7. Strategic Outlook - 2026 and Beyond
Indevor Group continues to strengthen its position as a trusted multi-disciplinary partner to the UK housebuilding industry.
Supported by a strong financial position, established client relationships and a diversified portfolio of specialist businesses, the Group remains well positioned to capitalise on future market opportunities.
Board Conclusion: We enter 2026 with increasing financial strength, a growing market presence and confidence in our long-term strategy.
8. Our People
Our people remain fundamental to the Group's success. We continue to invest in developing talented individuals whilst supporting the growth of an experienced and professional team. Staff wellbeing, development and career progression remain central to our culture.
During the year, we were proud to achieve Investors in People Gold accreditation and to be recognised in the Sunday Times Best Places to Work. These independent achievements provide external recognition of the Group's commitment to its people, culture and core values, and reinforce our belief that investing in our people is fundamental to delivering exceptional outcomes for our clients.
9. Key Risks and Mitigations
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Risk Area |
Description |
Mitigation Strategy |
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Market Conditions |
Reduced levels of housebuilding activity, planning delays and wider economic uncertainty may impact the pace of new development. |
The Group's diversified service offering, strong balance sheet, long-standing client relationships and disciplined financial management provide resilience throughout market cycles. |
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Talent and Expertise |
Attracting and retaining high-calibre professionals remains essential to the continued growth of the Group. |
Continued investment in employee development, leadership, wellbeing and an award-winning workplace culture supports long-term retention and recruitment. |
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Regulatory Environment |
Ongoing changes to planning policy, environmental legislation and industry regulation require continual adaptation. |
The Group actively monitors legislative developments and continues to invest in compliance, governance and specialist expertise to ensure clients receive informed, future-focused solutions. |
Indevor Group Limited
Strategic Report for the Year Ended 31 December 2025
10. Conclusion
Indevor Group continues to strengthen its market position through disciplined management, financial resilience and continued investment in long-term growth.
The Board remains confident that the Group's increasing financial strength, growing shareholder value and trusted reputation provide a solid foundation for continued success.
Approved and authorised by the
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Indevor Group Limited
(Registration number: 12674433)
Consolidated Balance Sheet as at 31 December 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
2,214,042 |
1,786,740 |
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Equity attributable to owners of the company |
2,214,142 |
1,786,840 |
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Shareholders' funds |
2,214,142 |
1,786,840 |
Approved and authorised by the
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Indevor Group Limited
(Registration number: 12674433)
Balance Sheet as at 31 December 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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- |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
- |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
1,144,976 |
566,786 |
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Shareholders' funds |
1,145,076 |
566,886 |
Approved and authorised by the
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For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
Indevor Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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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.
Indevor Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Basis of consolidation
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 December 2025.
A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.
The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.
Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.
Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.
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 group’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the group.
The group 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 group's activities.
Tax
The tax expense for the period comprises current 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 group operates and generates taxable income.
Indevor Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Tangible assets
Tangible assets are stated in the balance sheet 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.
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:
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Asset class |
Depreciation method and rate |
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Office equipment |
33% straight line |
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Motor vehicles |
25% straight line |
Intangible assets
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Computer software |
3 years straight line |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, 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.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the receivables.
Indevor Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Other operating income |
The analysis of the group's other operating income for the year is as follows:
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2025 |
2024 |
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Government grants |
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Indevor Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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Staff numbers |
The average number of persons employed by the group (including directors) during the year, was as follows:
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2025 |
2024 |
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All departments |
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Intangible assets |
Group
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Trademarks, patents and licenses |
Computer software development costs |
Total |
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Cost or valuation |
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At 1 January 2025 |
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Additions acquired separately |
- |
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At 31 December 2025 |
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Amortisation |
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At 1 January 2025 |
- |
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Amortisation charge |
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At 31 December 2025 |
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Carrying amount |
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At 31 December 2025 |
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At 31 December 2024 |
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Indevor Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Company
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Computer software development costs |
Total |
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Cost or valuation |
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At 1 January 2025 |
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Additions acquired separately |
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At 31 December 2025 |
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Amortisation |
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At 1 January 2025 |
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Amortisation charge |
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At 31 December 2025 |
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Carrying amount |
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At 31 December 2025 |
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At 31 December 2024 |
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Indevor Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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Tangible assets |
Group
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Office equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 January 2025 |
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Additions |
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Disposals |
( |
- |
( |
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At 31 December 2025 |
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Depreciation |
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At 1 January 2025 |
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Charge for the year |
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Eliminated on disposal |
( |
- |
( |
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At 31 December 2025 |
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Carrying amount |
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At 31 December 2025 |
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At 31 December 2024 |
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Company
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Computer equipment |
Motor vehicles |
Total |
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Cost or valuation |
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Additions |
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At 31 December 2025 |
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Depreciation |
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Charge for the year |
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At 31 December 2025 |
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Carrying amount |
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At 31 December 2025 |
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Indevor Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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Investments |
Company
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2025 |
2024 |
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Investments in subsidiaries |
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Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
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Undertaking |
Notes |
Holding |
Proportion of voting rights and shares held |
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2025 |
2024 |
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Subsidiary undertakings |
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(1) |
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(2) |
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(1) |
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(2) |
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(2) |
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(2) |
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(2),(3) |
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(2) |
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(2),(3) |
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(1) |
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(2) |
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(2) |
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(2) |
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(2) |
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(2),(3) |
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Indevor Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
(1) Held directly by Indevor Group Ltd
(2) Held indirectly by Indevor Group Ltd
(3) No financial transactions during the year-ending 31 December 2025
All subsidiaries are incorporated in England and Wales.
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Subsidiary undertakings |
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Indevor Bonds and Guarantees Ltd The principal activity of Indevor Bonds and Guarantees Ltd is |
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RS Bonds Solutions Ltd The principal activity of RS Bonds Solutions Ltd is |
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Indevor Land Ltd The principal activity of Indevor Land Ltd is |
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Indevor Green Estates Ltd The principal activity of Indevor Green Estates Ltd is |
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E Estates Management Ltd The principal activity of E Estates Management Ltd is |
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W Estates Management Ltd The principal activity of W Estates Management Ltd is |
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UK Land Authority Ltd The principal activity of UK Land Authority Ltd is |
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S Estates Management Ltd The principal activity of S Estates Management Ltd is |
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Landtrepreneur Ltd The principal activity of Landtrepreneur Ltd is |
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Indevor Estates Ltd The principal activity of Indevor Estates Ltd is |
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Indevor Infra Estates Ltd The principal activity of Indevor Infra Estates Ltd is |
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Network Highways Ltd The principal activity of Network Highways Ltd is |
Indevor Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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Indevor Water Ltd The principal activity of Indevor Water Ltd is |
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Green Agent Management Ltd The principal activity of Green Agent Management Ltd is |
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Adoptcert Protection Limited The principal activity of Adoptcert Protection Limited is |
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Stocks |
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Group |
Company |
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2025 |
2024 |
2025 |
2024 |
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Work in progress |
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- |
- |
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Debtors |
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Group |
Company |
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Current |
2025 |
2024 |
2025 |
2024 |
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Trade debtors |
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- |
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Amounts owed by group undertakings |
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Other debtors |
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Prepayments |
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Accrued income |
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Creditors |
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Group |
Company |
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2025 |
2024 |
2025 |
2024 |
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Due within one year |
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Loans and borrowings |
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- |
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Trade creditors |
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Amounts owed to group undertakings |
- |
- |
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Taxation and social security |
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- |
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Other payables |
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Accruals and deferred income |
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Due after one year |
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Loans and borrowings |
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- |
Indevor Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate controlling party is