Company No: SC510435 (Scotland)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	P Burns
	S L Clark
	C R D Van Der Kuyl

SECRETARY

Blackadders LLP

REGISTERED OFFICE	Unit 11 Water's Edge
	Camperdown Street
	Dundee
	DD1 3HY
	Scotland
	United Kingdom

COMPANY NUMBER

SC510435 (Scotland)

ACCOUNTANT	S&W Partners (Manchester) Limited
	Pall Mall
	1 Pollen Square
	59 King Street
	Manchester
	M2 4PD

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	1,851,248		690,737
Investment property	4	189,567		189,567
		2,040,815		880,304
Current assets
Stocks	5	81,383		69,515
Debtors	6	101,424		106,886
Cash at bank and in hand	7	93,688		35,437
		276,495		211,838
Creditors: amounts falling due within one year	8	( 2,378,344)		( 1,136,732)
Net current liabilities		(2,101,849)		(924,894)
Total assets less current liabilities		(61,034)		(44,590)
Provision for liabilities	9	( 8,875)		( 8,361)
Net liabilities		( 69,909)		( 52,951)
Capital and reserves
Called-up share capital	10	2		2
Profit and loss account		( 69,911 )		( 52,953 )
Total shareholders' deficit		( 69,909)		( 52,951)

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 members have 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 Chroma Developments Limited (registered number: SC510435) were approved and authorised for issue by the Board of Directors on 22 July 2026. They were signed on its behalf by:

C R D Van Der Kuyl 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

Chroma Developments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Unit 11 Water's Edge, Camperdown Street, Dundee, DD1 3HY, Scotland, 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 ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Chroma Developments Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

The financial statements have been prepared under the historical cost convention.

The company made a loss during the period to 31 October 2025 and had net liabilities at that date. The company is dependent, in the absence of other funding, on the continued support of its directors. They have confirmed their commitment to provide continued support to the company.

On this basis the directors consider it appropriate to prepare the financial statement on the going concern basis. The financial statements do not include any adjustments that might be necessary if the directors were not to provide further support.

Turnover

Turnover represents rent receivable and development income, excluding value added tax.

Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	5 - 10 years straight line
Fixtures and fittings	5 years straight line
Computer equipment	4 years straight line

Investment property

Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in market value is charged or credited to the profit and loss account and then transferred to a non-distributable reserve, net of any deferred tax.

Although this accounting policy is in accordance with FRS102 it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director's compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

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.

Government grants

Work in progress

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

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	0		0

3. Tangible assets

	Land and buildings		Fixtures and fittings		Computer equipment		Total
	£		£		£		£
Cost
At 01 November 2024	676,463		265,788		22,422		964,673
Additions	1,283,315		8,380		14,963		1,306,658
At 31 October 2025	1,959,778		274,168		37,385		2,271,331
Accumulated depreciation
At 01 November 2024	19,170		241,113		13,653		273,936
Charge for the financial year	124,860		14,647		6,640		146,147
At 31 October 2025	144,030		255,760		20,293		420,083
Net book value
At 31 October 2025	1,815,748		18,408		17,092		1,851,248
At 31 October 2024	657,293		24,675		8,769		690,737

4. Investment property

	Investment property
	£
Valuation
As at 01 November 2024	189,567
As at 31 October 2025	189,567

Investment properties were valued on an open market basis on 31 October 2025 by the Directors. The historical cost of investment properties is £189,567 (2024 - £189,567).

5. Stocks

	2025		2024
	£		£
Work in progress	81,383		69,515

6. Debtors

	2025		2024
	£		£
Trade debtors	23,301		48,796
Other debtors	78,123		58,090
	101,424		106,886

7. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	93,688		35,437

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	126,041		30,485
Taxation and social security	12,388		7,147
Other creditors	2,239,915		1,099,100
	2,378,344		1,136,732

9. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 8,361)		0
Charged to the Profit and Loss Account	( 514)		( 8,361)
At the end of financial year	( 8,875)		( 8,361)

10. Called-up share capital

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

11. Related party transactions

Included in other creditors is £792,972 (2024 - £792,972) which is due to the directors of Chroma Developments Limited. The loans are interest free and there is no fixed date for the repayment of the loans.