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Registration number: 02938488

Albany Homes Southern Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2026

Albany Homes Southern Limited

Contents

Company Information | 1
Statement of Financial Position | 2
Notes to the Unaudited Financial Statements | 3 to 8

Albany Homes Southern Limited

Company Information

Director | Mr CA Wheeler

Company secretary | Mrs SP Wheeler

Registered office | Nursery Barn Church Lane Albourne West Sussex BN6 9BZ

Accountants | Melrose Accountants Accountants62 Florence Road Brighton East Sussex BN1 6DJ

Albany Homes Southern Limited

(Registration number: 02938488)
Statement of Financial Position as at 31 March 2026

| Note | 2026 £ | 2025 £
Fixed assets |  |  |
Investment property | 4 | 1,400,000 | 1,400,000
Current assets |  |  |
Stocks | 5 | 788,400 | 746,757
Debtors | 6 | 177,486 | 177,341
Cash at bank and in hand |  | 2,737 | 51,835
|  | 968,623 | 975,933
Creditors: Amounts falling due within one year | 7 | (817,348) | (801,302)
Net current assets |  | 151,275 | 174,631
Total assets less current liabilities |  | 1,551,275 | 1,574,631
Creditors: Amounts falling due after more than one year | 7 | (781,576) | (781,576)
Provisions for liabilities |  | (38,000) | (38,000)
Net assets |  | 731,699 | 755,055
Capital and reserves |  |  |
Called up share capital | 8 | 10 | 10
Other reserves |  | 162,000 | 162,000
Retained earnings |  | 569,689 | 593,045
Shareholders' funds |  | 731,699 | 755,055

For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 17 July 2026

......................................... Mr CA Wheeler Director

Albany Homes Southern Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
Nursery Barn
Church Lane
Albourne
West Sussex
BN6 9BZ

These financial statements were authorised for issue by the director on 17 July 2026.

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.

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 sales/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.

Depreciation

Asset class | Depreciation method and rate
Plant and machinery | 25% straight line
Office equipment | 25% straight line
Leasehold Properties | over the term of the lease

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.

Albany Homes Southern Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

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 company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 company 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 income statement 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 company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Albany Homes Southern Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2025 - 2).

Albany Homes Southern Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

4 | Investment properties

| 2026 £
At 1 April | 1,400,000
At 31 March | 1,400,000

There has been no valuation of investment property by an independent valuer.

5 | Stocks

| 2026 £ | 2025 £
Work in progress | 788,400 | 746,757

6 | Debtors

Current | Note | 2026 £ | 2025 £
Amounts owed by related parties |  | 175,432 | 175,382
Other debtors |  | 2,054 | 1,959
|  | 177,486 | 177,341

Albany Homes Southern Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2026 £ | 2025 £
Due within one year |  |  |
Trade creditors |  | - | 2,327
Amounts owed to group undertakings and undertakings in which the company has a participating interest |  | 197,142 | 203,642
Taxation and social security |  | - | 662
Other creditors |  | 620,206 | 594,671
|  | 817,348 | 801,302

Creditors: amounts falling due after more than one year

| Note | 2026 £ | 2025 £
Due after one year |  |  |
Loans and borrowings | 9 | 781,576 | 781,576

8 | Share capital

Allotted, called up and fully paid shares

| 2026 | 2025
| No. | £ | No. | £
ordinary shares of £1 each | 10 | 10 | 10 | 10

Albany Homes Southern Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

9 | Loans and borrowings

Non-current loans and borrowings

| 2026 £ | 2025 £
Bank borrowings | 781,576 | 781,576