Company registration number 02849693 (England and Wales)
BROTHER DEVELOPMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
PAGES FOR FILING WITH REGISTRAR
BROTHER DEVELOPMENTS LIMITED
COMPANY INFORMATION
Directors
Mr B J Boys
Mr M A Boys
Mr P H Boys
Company number
02849693
Registered office
Todd Carr Road
and business address
Waterfoot
Rossendale
Lancashire
BB4 9SJ
Accountants
Pierce C A Limited
Mentor House
Ainsworth Street
Blackburn
Lancashire
BB1 6AY
Bankers
Handelsbanken
Greenbank Court
Challenge Way
Greenbank Business Park
Blackburn
Lancashire
BB1 5QB
BROTHER DEVELOPMENTS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
Notes to the financial statements
3 - 11
BROTHER DEVELOPMENTS LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2025
30 November 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
5
1,505,273
1,505,273
Investments
6
300
300
1,505,573
1,505,573
Current assets
Stocks
2,141,226
2,063,663
Debtors
8
1,125,102
1,120,951
Cash at bank and in hand
23,443
19,422
3,289,771
3,204,036
Creditors: amounts falling due within one year
9
(2,960,264)
(2,015,202)
Net current assets
329,507
1,188,834
Total assets less current liabilities
1,835,080
2,694,407
Creditors: amounts falling due after more than one year
10
-
0
(894,000)
Net assets
1,835,080
1,800,407
Capital and reserves
Called up share capital
11
3
3
Revaluation reserve
12
230,660
230,660
Profit and loss reserves
1,604,417
1,569,744
Total equity
1,835,080
1,800,407
BROTHER DEVELOPMENTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2025
30 November 2025
- 2 -

For the financial year ended 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 6 August 2026 and are signed on its behalf by:
Mr P H Boys
Director
Company registration number 02849693 (England and Wales)
BROTHER DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 3 -
1
Accounting policies
Company information

Brother Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Todd Carr Road, Waterfoot, Rossendale, Lancashire, BB4 9SJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

The company is dependent upon the ongoing support of its bankers and its various connected companies.true

The directors are not aware of any reasons as to why the bank will not continue to support the company in the foreseeable future.

The directors of this company are also directors of the connected companies. The directors have indicated that these companies will continue to provide financial support to the company for the foreseeable future.

The directors therefore consider that in preparing the financial statements they have taken into account all the information that could reasonably be expected to be available.

On this basis, they consider that it is appropriate to prepare the financial statements on the going concern basis.

1.3
Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts, together with rent receivable.

BROTHER DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
1
Accounting policies
(Continued)
- 4 -
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
25% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.7
Stocks

Stock and W ork in progress is valued at the lower of cost and net realisable value.

Cost represents all expenditure incurred in bringing Stock and Work In Progress to its condition and location at the accounting date.

The cost of Work In Progress includes the cost of materials and direct labour along with attributable overheads based upon normal levels of activity.

Net realisable value is based on estimated selling prices less further costs expected to be incurred to completion and disposal.

1.8
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

BROTHER DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
1
Accounting policies
(Continued)
- 5 -
1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

BROTHER DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
1
Accounting policies
(Continued)
- 6 -
1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
3
3
BROTHER DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 7 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2024 and 30 November 2025
79,712
Depreciation and impairment
At 1 December 2024 and 30 November 2025
79,712
Carrying amount
At 30 November 2025
-
0
At 30 November 2024
-
0
BROTHER DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 8 -
5
Investment property
2025
£
Fair value
At 1 December 2024 and 30 November 2025
1,505,273

The company's premises at The Corn Exchange Business Park, Rawtenstall were revalued at market value of £990,000 at 15 February 2023 by a third party professional valuer. This valuation was incorporated into the balance sheet at 30 November 202 3. The directors consider that this valuation represents a reasonable estimate of the market value of the property at t h e current balance sheet date.

The investment property acquired in a previous year, Heath Hill House, Bacup, is also included in the balance sheet at its acquisition cost. The directors are of the opinion that this represents a reasonable estimate of its current market value at the current balance sheet date.

The historic cost of the investment properties is £1,274,613 (2024: £1,274,613).

6
Fixed asset investments
2025
2024
£
£
Investments
300
300
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 December 2024 & 30 November 2025
300
Carrying amount
At 30 November 2025
300
At 30 November 2024
300
BROTHER DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 9 -
7
Subsidiaries

Details of the company's subsidiaries at 30 November 2025 are as follows:

Name of undertaking
Address
Class of
% Held
shares held
Direct
Brother Developments (Yorkshire) Limited
*
Ordinary
100.00
Brother Developments (Worsthorne) Limited
*
Ordinary
100.00
Silverturn Limited
*
Ordinary
100.00

Registered office addresses (all UK unless otherwise indicated):

*
Todd Carr Road, Waterfoot, Rossendale, Lancashire, BB4 9SJ
8
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
45,852
44,280
Corporation tax recoverable
912
-
0
Amounts owed by group undertakings
1,068,847
1,068,847
Other debtors
9,491
7,824
1,125,102
1,120,951
BROTHER DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 10 -
9
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
894,000
59,600
Trade creditors
12,385
7,550
Corporation tax
-
0
(911)
Other taxation and social security
-
0
1,900
Other creditors
2,053,879
1,947,063
2,960,264
2,015,202

The company's bank borrowings are secured by:

i) First legal charges over the company's investment properties and certain development stocks; and

ii) A debenture over all the assets of the company; and

iii) An unlimited inter company cross guarantee by and between Brother Developments Limited and the companies detailed below, supported by debentures over the assets of these companies and first legal charges over various properties held by the same companies:

i) B & E Boys Limited

ii) B & E Boys (Properties) Limited

iii) Brother Investments Limited

iv) Kingfisher Business Centres Limited

v) Boys Holdings Plc

vi) Brother Developments (Yorkshire) Limited

10
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
-
0
894,000
11
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
3
3
3
3
12
Revaluation reserve
2025
2024
£
£
At the beginning and end of the year
230,660
230,660
BROTHER DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 11 -
13
Financial commitments, guarantees and contingent liabilities

During a previous financial year the company gave a n unlimited inter company cross guarantee, supported by a first legal charge over the company's investment and certain development stocks and a debenture over the company's assets, in respect of a bank overdraft facility of £1,500,000 provided by the company's bankers to B & E Boys Limited and bank loans provided to Brother Investments Limited and Kingfisher Business Centre s Limited.

At 30 November 2025 the overdraft facility in B & E Boys Limited amounted to £869,911 and the bank loan balances were as follows:-

Kingfisher Business Centres Limited - £444,000 (facility: £518,000); and

Brother Investments Limited - £14,254,610 (facility: £16,245,985).

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