BODO DEVELOPMENTS LIMITED


Director	LANYON, Richard Cruddas Bennicke


Registered Address	12-13 Lansdowne Terrace
	Newcastle Upon Tyne
	NE3 1HN


Registered Number	11204552 (England and Wales)

Balance Sheet as at
31 December 2025

	Notes	2025		2024
		£	£	£	£
Current assets
Stocks	3	2,976,000		5,130,001
Debtors	4	24,977		49,685
Cash at bank and on hand		19,985		12,309
		3,020,962		5,191,995
Creditors amounts falling due within one year	5	(5,690,450)		(5,690,463)
Net current assets (liabilities)			(2,669,488)		(498,468)
Total assets less current liabilities			(2,669,488)		(498,468)
Creditors amounts falling due after one year	6		(3,185,929)		(4,389,161)
Net assets			(5,855,417)		(4,887,629)
Capital and reserves
Called up share capital			1		1
Profit and loss account			(5,855,418)		(4,887,630)
Shareholders' funds			(5,855,417)		(4,887,629)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Director on 16 September 2026, and are signed on its behalf by:

LANYON, Richard Cruddas Bennicke
Director
Registered Company No. 11204552

BODO DEVELOPMENTS LIMITED

Notes to the Financial Statements
for the year ended 31 December 2025

1.	Accounting policies

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

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Going concern
	At 31 December 2025, the company had net liabilities of approximately £5.85 million. The company's principal activity is the development of a residential property site and the carrying value of the development has been stated at its estimated net realisable value. Subsequent to the year end, the company secured further funding to enable completion of the development. The directors have prepared cash flow forecasts taking into account the funding available, forecast costs to complete the development and anticipated proceeds from the sale of the completed properties. Based upon current forecasts, the directors anticipate that the proceeds from the development will be insufficient to repay the company's senior lending facility in full. The senior lender is aware of the forecast position. However, at the date of approval of these financial statements, no formal waiver or release of the residual indebtedness has been entered into. The directors have concluded, having considered the funding available to complete the development and their discussions with the senior lender, that it remains appropriate to prepare the financial statements on a going concern basis. However, the absence of a formal agreement in respect of the anticipated residual indebtedness represents a material uncertainty which may cast significant doubt upon the company's ability to continue as a going concern. The financial statements do not include any adjustments that would result if the company were unable to continue as a going concern.

Going concern

At 31 December 2025, the company had net liabilities of approximately £5.85 million. The company's principal activity is the development of a residential property site and the carrying value of the development has been stated at its estimated net realisable value.

Subsequent to the year end, the company secured further funding to enable completion of the development. The directors have prepared cash flow forecasts taking into account the funding available, forecast costs to complete the development and anticipated proceeds from the sale of the completed properties.

Based upon current forecasts, the directors anticipate that the proceeds from the development will be insufficient to repay the company's senior lending facility in full. The senior lender is aware of the forecast position. However, at the date of approval of these financial statements, no formal waiver or release of the residual indebtedness has been entered into.

The directors have concluded, having considered the funding available to complete the development and their discussions with the senior lender, that it remains appropriate to prepare the financial statements on a going concern basis. However, the absence of a formal agreement in respect of the anticipated residual indebtedness represents a material uncertainty which may cast significant doubt upon the company's ability to continue as a going concern. The financial statements do not include any adjustments that would result if the company were unable to continue as a going concern.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Revenue from the sale of goods is recognised when all the following conditions are satisfied: • the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; • the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; • the amount of revenue can be measured reliably; • it is probable that the economic benefits associated with the transaction will flow to the Company; and • the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

 Revenue from the sale of goods is recognised when all the following conditions are satisfied:
 • the Company has transferred to the buyer the significant risks and rewards of ownership of the goods;
 • the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
 • the amount of revenue can be measured reliably;
 • it is probable that the economic benefits associated with the transaction will flow to the Company; and
 • the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Current taxation
	Corporation tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Current taxation

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

 The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of 
 income or expense that are taxable or deductible in other years and 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 end of the reporting period.

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price).

2.	Average number of employees
	This note excludes directors.


		2025		2024
	Average number of employees during the year	0		0

3.	Stocks

	2025	2024
	£	£
Work in progress	2,976,000	5,130,001
Total	2,976,000	5,130,001

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Amounts owed by group undertakings	18,660	37,749
Other debtors	6,317	11,936
Total	24,977	49,685

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	34,711	129,574
Amounts owed to related parties	5,633,054	5,537,088
Other creditors	6,535	3,000
Accrued liabilities and deferred income	16,150	20,801
Total	5,690,450	5,690,463

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	3,185,929	4,389,161
Total	3,185,929	4,389,161

7.	Secured creditors
	Funding was secured from Midos GC Limited for the development of residential property sites at Hunton and Sadberge. The loan is secured by debentures over all of the assets of Bodo Developments Limited and the following group companies - Oakyard (Midco) Top Limited, Oakyard Developments (Midco) Limited and Walbert Developments Limited. Additional funding was obtained from Broadwick Capital Ltd.This loan is secured by a fixed and floating charge over the assets of the company in relation to debt owed both by the company and by the following group companies - Oakyard (Midco) Top Limited, Oakyard Developments (Midco) Limited and Walbert Developments Limited.

Secured creditors

Funding was secured from Midos GC Limited for the development of residential property sites at Hunton and Sadberge. The loan is secured by debentures over all of the assets of Bodo Developments Limited and the following group companies - Oakyard (Midco) Top Limited, Oakyard Developments (Midco) Limited and Walbert Developments Limited.
Additional funding was obtained from Broadwick Capital Ltd.This loan is secured by a fixed and floating charge over the assets of the company in relation to debt owed both by the company and by the following group companies  - Oakyard (Midco) Top Limited, Oakyard Developments (Midco) Limited and Walbert Developments Limited.

8.	Related party transactions
	The company incurred management charges of £201,769 (2024 - £957,030) from former group members in the course of the year

9.	Controlling party
	the company's ultimate controlling party is Ordnance Row Consulting Ltd by virtue of their ownership of 100% of the issued share capital and voting rights. The parent's registered office address is: 12-13 Lansdowne Terrace Newcastle upon Tyne NE3 1HN