The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)

The company has net liabilities at 30 November 2025 and is funded principally by a loan from its shareholder, MONS SPC Limited, which is repayable with accrued interest by 31 March 2027. The director expects the loan to be repaid from the proceeds of sale of the company's development properties. MONS SPC Limited has confirmed that it will not seek repayment until sufficient sale proceeds are available. On this basis, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for at least twelve months from the date of approval of these financial statements, and the financial statements have therefore been prepared on a going concern basis.

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Work in progress comprises land and property held for development and sale in the ordinary course of business. It is stated at the lower of cost and estimated selling price less costs to complete and sell.

Cost comprises the purchase price of land and buildings, stamp duty land tax, legal and other directly attributable acquisition costs, and the costs of development. Development costs include construction costs, materials, subcontractor and professional fees, planning and building control costs, and site utilities incurred in bringing each property to its present condition.

Borrowing costs directly attributable to the acquisition and development of properties are capitalised as part of the cost of work in progress. Capitalisation begins when expenditure on the property has been incurred and development activity is under way, and it ceases when the property is substantially complete. Capitalisation is suspended during any extended period in which development activity is interrupted. The amount capitalised is the actual interest incurred on the loan that funds the developments. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
Work in progress includes capitalised borrowing costs of £86,839.

At each reporting date, the director assesses whether work in progress is impaired by comparing the carrying amount of each property with its estimated selling price less costs to complete and sell. Any impairment loss is recognised immediately in profit or loss.

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 liabilities, including loans from related parties, are initially recognised at transaction price and subsequently measured at amortised cost using the effective interest method.