Winmill Developments Limited

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 9

Winmill Developments Limited

(Registration number: 05037479)
Statement of Financial Position as at 28 February 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	50,556	60,880
Investment property	5	198,866	198,866
		249,422	259,746
Current assets
Stocks		149,132	197,132
Debtors	6	863,726	880,454
Cash at bank and in hand		36,458	1,248
		1,049,316	1,078,834
Creditors: Amounts falling due within one year	7	(30,488)	(38,834)
Net current assets		1,018,828	1,040,000
Total assets less current liabilities		1,268,250	1,299,746
Creditors: Amounts falling due after more than one year	7	-	(2,963)
Provisions for liabilities		(10,813)	(12,915)
Net assets		1,257,437	1,283,868
Capital and reserves
Called up share capital		2	2
Profit and loss account		1,257,435	1,283,866
Shareholders' funds		1,257,437	1,283,868

Winmill Developments Limited

(Registration number: 05037479)
Statement of Financial Position as at 28 February 2026 (continued)

For the financial year ending 28 February 2026 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 1 July 2026 and signed on its behalf by:
 

Mr R A R Winmill Director

Winmill Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

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:
Plym House
3 Longbridge Road
Marsh Mills
Plymouth
Devon
PL6 8LT

Principal activity

The principal activity of the company is that of sale of vintage vehicles and development of building projects.

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.

Winmill Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026 (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

Revenue - described as turnover - is the value of goods (net of VAT) provided to customers during the year, plus the value of work (net of VAT) performed during the year with respect to services.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

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.

Winmill Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026 (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
Freehold land and buildings	2% straight line
Leasehold properties	25% reducing balance
Plant and machinery	15% reducing balance
Fittings, fixtures and equipment	15% reducing balance
Motor vehicles	20% reducing balance
Computer equipment	15% 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 carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. 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

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

Winmill Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026 (continued)

2	Accounting policies (continued)

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

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.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2025 - 4).

Winmill Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026 (continued)

4	Tangible assets

	Long leasehold property £	Fixtures, fittings and equipment £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 March 2025	58,607	20,120	26,443	60,813	165,983
Additions	-	2,340	-	-	2,340
Disposals	-	(3,180)	(357)	-	(3,537)
At 28 February 2026	58,607	19,280	26,086	60,813	164,786
Depreciation
At 1 March 2025	52,400	11,868	18,143	22,692	105,103
Charge for the year	1,552	1,500	1,216	7,624	11,892
Eliminated on disposal	-	(2,594)	(171)	-	(2,765)
At 28 February 2026	53,952	10,774	19,188	30,316	114,230
Carrying amount
At 28 February 2026	4,655	8,506	6,898	30,497	50,556
At 28 February 2025	6,207	8,252	8,300	38,121	60,880

Included within the net book value of land and buildings above is £4,655 (2025 - £6,207) in respect of long leasehold land and buildings.
 

5	Investment properties

	2026 £
At 1 March	198,866
At 28 February	198,866

The investment property value has been assessed by the directors at the year end, no formal independent valuation has been performed.

Winmill Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026 (continued)

6

Debtors

	Note	2026 £	2025 £
Amounts owed by related parties	9	380,118	380,118
Other debtors		481,693	488,401
Prepayments		1,915	886
Accrued income		-	6,967
Income tax asset		-	4,082
		863,726	880,454

7

Creditors

Creditors: amounts falling due within one year

		2026 £	2025 £
Due within one year
Loans and borrowings		-	5,926
Trade creditors		-	8
Taxation and social security		223	1,852
Accruals and deferred income		2,515	17,301
Other creditors		27,750	13,747
		30,488	38,834

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £nil (2025 - £5,926).

Creditors: amounts falling due after more than one year

		2026 £	2025 £
Due after one year
Loans and borrowings		-	2,963

 

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £nil (2025 - £2,963).

Winmill Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026 (continued)

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9	Related party transactions

Transactions with directors

2026	At 1 March 2025 £	Advances to director £	Repayments by director £	At 28 February 2026 £
Directors	(13,747)	8,000	(22,003)	(27,750)

2025	At 1 March 2024 £	Advances to director £	Repayments by director £	At 28 February 2025 £
Directors	(182,169)	377,100	(208,678)	(13,747)

The following balances shown are by entities under common control at the year end:
The company is owed £480,000 by Purpledot Pension Fund at the year end (2025: £480,000). The company is owed £380,118 by Purpledot Limited at the year end (2025: £380,118).