Tovey Developments Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 12485205

Tovey Developments Ltd

Filleted Unaudited Financial Statements

For the year ended

31 March 2026

Tovey Developments Ltd

Financial Statements

Year ended 31 March 2026

Contents	Page

Accountant's report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

Tovey Developments Ltd

Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements

Year ended 31 March 2026

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 March 2026, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

CLAY SHAW THOMAS LTD

2 Oldfield Road Bocam Park Bridgend CF35 5LJ

18 September 2026

Tovey Developments Ltd

Statement of Financial Position

31 March 2026

	2026		2025
Note	£	£	£

Fixed assets

Tangible assets	5		43,427	41,631

Current assets

Debtors	6	772,765	225,124
Cash at bank and in hand		–	12
		---------	---------
		772,765	225,136

Creditors: amounts falling due within one year	7	352,052		131,387
		---------		---------
Net current assets			420,713	93,749
			---------	---------
Total assets less current liabilities			464,140	135,380

Creditors: amounts falling due after more than one year	8		239,945	–

Provisions	9,724	10,408
	---------	---------
Net assets	214,471	124,972
	---------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	214,469	124,970
	---------	---------
Shareholders funds	214,471	124,972
	---------	---------

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 March 2026 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 .

Tovey Developments Ltd

Statement of Financial Position (continued)

31 March 2026

These financial statements were approved by the board of directors and authorised for issue on 18 September 2026 , and are signed on behalf of the board by:

Mr P Tovey

Director

Company registration number: 12485205

Tovey Developments Ltd

Notes to the Financial Statements

Year ended 31 March 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 50a Oxford Street, Pontycymer, Bridgend, CF32 8DB, Wales.

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

The turnover shown in the profit and loss accounts represents the services rendered during the period and relates to the company's principal activity which is that of development and management of properties , exclusive of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance
Equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Debt instruments are subsequently measured at amortised cost. 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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 7 (2025: 4 ).

5. Tangible assets

	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 April 2025	14,916	33,832	16,063	64,811
Additions	8,859	–	4,394	13,253
	--------	--------	--------	--------
At 31 March 2026	23,775	33,832	20,457	78,064
	--------	--------	--------	--------
Depreciation
At 1 April 2025	7,474	9,515	6,191	23,180
Charge for the year	2,474	6,079	2,904	11,457
	--------	--------	--------	--------
At 31 March 2026	9,948	15,594	9,095	34,637
	--------	--------	--------	--------
Carrying amount
At 31 March 2026	13,827	18,238	11,362	43,427
	--------	--------	--------	--------
At 31 March 2025	7,442	24,317	9,872	41,631
	--------	--------	--------	--------

6. Debtors

	2026	2025
	£	£
Trade debtors	18,078	16,660
Amounts owed by group undertakings and undertakings in which the company has a participating interest	753,415	–
Other debtors	1,272	208,464
	---------	---------
	772,765	225,124
	---------	---------

7. Creditors: amounts falling due within one year

	2026	2025
	£	£
Bank loans and overdrafts	150,422	–
Trade creditors	35,682	12,790
Amounts owed to group undertakings and undertakings in which the company has a participating interest	37,096	–
Social security and other taxes	126,528	116,338
Other creditors	2,324	2,259
	---------	---------
	352,052	131,387
	---------	---------

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

	2026	2025
	£	£
Bank loans and overdrafts	239,945	–
	---------	----

9. Directors' advances, credits and guarantees

Included in other debtors is an amount of £nil (2025 : £206,644) owed from the director. The following is a summary of the directors' transactions with the company during the year:

		2026
		£
	Opening balance as at 1 April 2025	206,644
	Monies withdrawn	695,212
	Monies introduced	(901,856)
		---------
	Closing balance as at 31 March 2026	–
		---------