REGISTERED NUMBER: 11064259 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025

FOR

EXETER DEVELOPMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

D P Chard

D Haines

REGISTERED OFFICE:

Spurway Farm

Exminster

Exeter

Devon

EX6 8AZ

REGISTERED NUMBER:

11064259 (England and Wales)

ACCOUNTANTS:

Sheppard Rockey & Williams Ltd

Sannerville Chase

Exminster

Exeter

Devon

EX6 8AT

FIXED ASSETS

Tangible assets

4

20,410

39,961

Investment property

5

642,124

642,124

662,534

682,085

CURRENT ASSETS

Stocks

346,383

346,383

Debtors

6

19,289

30,878

Cash at bank

16,893

19,246

382,565

396,507

CREDITORS

Amounts falling due within one year

7

520,509

511,362

NET CURRENT LIABILITIES

(137,944

)

(114,855

)

TOTAL ASSETS LESS CURRENT LIABILITIES

524,590

567,230

CREDITORS

Amounts falling due after more than one year

8

(279,414

)

(302,270

)

PROVISIONS FOR LIABILITIES

(3,878

)

(7,593

)

NET ASSETS

241,298

257,367

CAPITAL AND RESERVES

Called up share capital

10

1,000

1,000

Retained earnings

240,298

256,367

SHAREHOLDERS' FUNDS

241,298

257,367

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2026 and were signed on its behalf by:

D P Chard - Director

D Haines - Director

1.	STATUTORY INFORMATION

Exeter Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and equipment

-

15% on cost

Office equipment

-

15% on cost

Motor vehicles

-

25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Going concern

The financial statements have been prepared on a going concern basis. The directors have confirmed they will provide sufficient funding to enable the company to continue trading for at least twelve months after the date of the approval of the statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Office

Motor

equipment

equipment

vehicles

Totals

£

£

£

£

COST

At 1 December 2024

and 30 November 2025

28,897

2,343

62,672

93,912

DEPRECIATION

At 1 December 2024

21,361

1,254

31,336

53,951

Charge for year

3,532

351

15,668

19,551

At 30 November 2025

24,893

1,605

47,004

73,502

NET BOOK VALUE

At 30 November 2025

4,004

738

15,668

20,410

At 30 November 2024

7,536

1,089

31,336

39,961

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 December 2024

and 30 November 2025

62,672

DEPRECIATION

At 1 December 2024

31,336

Charge for year

15,668

At 30 November 2025

47,004

NET BOOK VALUE

At 30 November 2025

15,668

At 30 November 2024

31,336

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2024

and 30 November 2025

642,124

NET BOOK VALUE

At 30 November 2025

642,124

At 30 November 2024

642,124

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

£

Trade debtors

2,829

1,441

Other debtors

16,460

29,437

19,289

30,878

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

£

Bank loans and overdrafts

30,721

35,715

Hire purchase contracts

12,911

12,911

Trade creditors

52,491

42,186

Taxation and social security

1,554

804

Other creditors

422,832

419,746

520,509

511,362

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.25

30.11.24

£

£

Bank loans

264,596

274,543

Hire purchase contracts

14,818

27,727

279,414

302,270

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.11.25

30.11.24

£

£

Allica Bank

290,315

295,256

The loan is secured by a fixed and floating charge over the assets of the company dated 13 November 2023.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.25

30.11.24

value:

£

£

500

Ordinary A

£1

500

500

500

Ordinary B

£1

500

500

1,000

1,000

11.	RELATED PARTY DISCLOSURES

Included in other creditors falling due within one year are loans from the directors amounting to £225,854 (2024: £223,491). The loans are subject to interest at a commercial rate, unsecured and repayable on demand.