WITHEY DEVELOPMENTS LIMITED Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 12289071

WITHEY DEVELOPMENTS LIMITED

Filleted Unaudited Financial Statements

31 October 2025

WITHEY DEVELOPMENTS LIMITED

Statement of Financial Position

31 October 2025

	2025	2024
Note	£	£

Current assets

Stocks		1,435,890	5,238,965
Debtors	4	12,507,661	1,523,585
Cash at bank and in hand		55,340	2,734
		-------------	------------
		13,998,891	6,765,284

Creditors: amounts falling due within one year	5	( 12,041,341)	( 5,967,345)
		-------------	------------
Net current assets		1,957,550	797,939
		------------	---------
Total assets less current liabilities		1,957,550	797,939

Creditors: amounts falling due after more than one year	6	( 2,130,000)	( 1,005,834)
		------------	------------
Net liabilities		( 172,450)	( 207,895)
		------------	------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 172,550)	( 207,995)
	---------	---------
Shareholders deficit	( 172,450)	( 207,895)
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the 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 year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

WITHEY DEVELOPMENTS LIMITED

Statement of Financial Position (continued)

31 October 2025

These financial statements were approved by the board of directors and authorised for issue on 28 July 2026 , and are signed on behalf of the board by:

Mr. C J Withey

Director

Company registration number: 12289071

WITHEY DEVELOPMENTS LIMITED

Notes to the Financial Statements

Year ended 31 October 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 221 High Street, Blackwood, Gwent, NP12 1AL.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Construction contracts

Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end. Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred. The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

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. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Debtors

	2025	2024
	£	£
Trade debtors	179,364	–
Other debtors	12,328,297	1,523,585
	-------------	------------
	12,507,661	1,523,585
	-------------	------------

Included in 'Other debtors' are: Amounts receivable as contract assets £6,674,000 (2024:£Nil), and Amounts receivable from related undertakings of; £5,167,988 (2024:£1,519,737) from GHR Developments Limited, and £400,000 (2024:£Nil) from Broodryk and Sons Developments Limited.

5. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	5,834	10,000
Trade creditors	555,517	42,550
Other creditors	11,479,990	5,914,795
	-------------	------------
	12,041,341	5,967,345
	-------------	------------

Included in 'Other creditors' are; Amounts payable to related underakings of £5,846,352 (2024:£5,826,352) to Springfall Properties Limited, and Amounts payable as contract liabilities of £4,544,000 (2024:£Nil) where the performance obligation is to be met within one year of the balance sheet date.

6. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	–	5,834
Other creditors	2,130,000	1,000,000
	------------	------------
	2,130,000	1,005,834
	------------	------------

Included in 'Other creditors' are; Amounts payable as contract liabilities of £2,130,000 (2024:£Nil) where the performance obligation is to be met more than one year after the balance sheet date.

7. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr. C J Withey	( 86,748)	( 500,000)	( 586,748)
Mrs. C S Broodryk	–	( 500,000)	( 500,000)
	--------	------------	------------
	( 86,748)	( 1,000,000)	( 1,086,748)
	--------	------------	------------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr. C J Withey	( 86,748)	–	( 86,748)
Mrs. C S Broodryk	–	–	–
	--------	----	--------
	( 86,748)	–	( 86,748)
	--------	----	--------

8. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2025	2024	2025	2024
	£	£	£	£
GHR Developments Limited	3,648,250	1,311,832	5,167,988	1,519,738
Springfall Properties Limited	( 20,000)	( 1,711,822)	( 5,846,352)	( 5,826,352)
Mr. J Withey and Mrs. S Withey	1,000,000	–	–	(1,000,000)
Broodryk & Sons Developments Limited	400,000	–	400,000	–
	------------	------------	------------	------------

GHR Developments Limited is a 50% shareholder of the Company and is controlled by the Directors Mr. C J Withey and Mrs. B L Withey. Springfall Properties Limited is a company controlled by the Directors Mr. C J Withey and Mrs. C S Broodryk . Broodryk & Sons Developments Limited is a company controlled by Mrs. C S Broodryk and her associates. Balances outstanding at the year end for GHR Developments Ltd, Springfall Properties Limited and Broodryk & Sons Developments Limited are loans between the companies, interest fee and repayable on demand. In 2020, Development Land was purchased from Mr. J and Mrs. S Withey for £1million. The consideration for which remained outstanding as a loan balance payable. On 1st November 2024, under a Deed of Assignment, the loan balance was gifted equally to Mr C.J Withey and Mrs. C S Broodryck.