Company No: 11774343 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Current assets
Stocks	3	1,783,148		1,751,077
Debtors	4	853		289
Cash at bank and in hand		2,752		380
		1,786,753		1,751,746
Creditors: amounts falling due within one year	5	( 2,723,648)		( 2,508,002)
Net current liabilities		(936,895)		(756,256)
Total assets less current liabilities		(936,895)		(756,256)
Net liabilities		( 936,895)		( 756,256)
Capital and reserves
Called-up share capital	6	2		2
Profit and loss account		( 936,897 )		( 756,258 )
Total shareholder's deficit		( 936,895)		( 756,256)

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

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Hillgrove Estates (Barnstaple) Limited (registered number: 11774343) were approved and authorised for issue by the Board of Directors on 21 July 2026. They were signed on its behalf by:

Mr G R Fincham Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hillgrove Estates (Barnstaple) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 Fairmantle Street, Truro, TR1 2EG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

Notwithstanding the net liabilities of £936,895 (2024 - £756,256) the directors have continued to adopt the going concern basis of accounting. The directors, and other related companies, have confirmed their willingness to support the company for the foreseeable future (being not less than 12 months from approval of the financial statements), and are also expecting future growth sufficient to enable the company to meet its liabilities.

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Stocks

	2025		2024
	£		£
Work in progress	1,783,148		1,751,077

4. Debtors

	2025		2024
	£		£
Other debtors	853		289

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	11,555		1,748
Amounts owed to Group undertakings	1,295,843		1,090,004
Other loans (secured)	1,415,000		1,415,000
Accruals	1,250		1,250
	2,723,648		2,508,002

Creditors includes a loan which is secured of £1,415,000 (2024 - £1,415,000). The lender has a legal charge over the property known as Land adjacent to Westacott Grange, Goodleigh, Barnstaple, EX32 7NF. Further security is provided through a debenture creating fixed and floating charges over the company's assets and guarantees by the two directors.

6. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each	2		2