Terrafirma Developments Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02879172 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

TERRAFIRMA DEVELOPMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M P Lhermette

Mrs J F Lhermette

M H V Shilling

REGISTERED OFFICE:

The Farm Office

Lamberhurst Farm

Dargate

Faversham

Kent

ME13 9EP

REGISTERED NUMBER:

02879172 (England and Wales)

ACCOUNTANTS:

Carleys

Second Floor South

The Fitted Rigging House

The Historic Dockyard

Chatham

Kent

ME4 4TZ

FIXED ASSETS

Tangible assets

4

19,183

24,205

CURRENT ASSETS

Stocks

-

297,174

Debtors

5

123,092

102,464

Cash at bank

1,983,991

321,730

2,107,083

721,368

CREDITORS

Amounts falling due within one year

6

(438,605

)

(83,242

)

NET CURRENT ASSETS

1,668,478

638,126

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,687,661

662,331

PROVISIONS FOR LIABILITIES

(6,050

)

(6,050

)

NET ASSETS

1,681,611

656,281

CAPITAL AND RESERVES

Called up share capital

8

71,250

Share premium

4,554

Capital redemption reserve

3,750

Retained earnings

1,602,057

576,727

SHAREHOLDERS' FUNDS

1,681,611

656,281

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 3 August 2026 and were signed on its behalf by:

M P Lhermette - Director

1.	STATUTORY INFORMATION

Terrafirma 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

In 2017 the turnover represents rental income due, property maintenance income and income from grazing rents with rental and property maintenance income being recognised at the point it is invoiced

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

15% on reducing balance

Stocks

Stock consists of development land valued at the net book value of land transferred from fixed assets plus further development costs incurred in connection with the development land.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

160,148

Disposals

(10,962

)

At 31 December 2025

149,186

DEPRECIATION

At 1 January 2025

135,943

Charge for year

3,384

Eliminated on disposal

(9,324

)

At 31 December 2025

130,003

NET BOOK VALUE

At 31 December 2025

19,183

At 31 December 2024

24,205

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

10,032

526

Amounts owed by group undertakings

281

-

Other debtors

112,779

101,938

123,092

102,464

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

34,065

25,891

Taxation and social security

391,404

47,424

Other creditors

13,136

9,927

438,605

83,242

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

Within one year

-

28,138

Between one and five years

-

56,276

-

84,414

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

40,500

Ordinary A

£1

40,500

27,000

Ordinary B

£1

27,000

3,750

Ordinary C

£1

3,750

71,250

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company advanced loans to the directors totalling £111,823(2024: £100,898) and received repayments totalling £101,000 (2024: £113,000). The loans outstanding at the balance sheet date totalled £111,028 (2024: £112,305). Interest is charged on these loans at the official rates set by HMRC and the loans were repaid after the year end.