|
Registered Number:13728004
CASTLEWOOD DEVELOPMENTS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
PAGES FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 28 FEBRUARY 2026
|
|
|
|
|
|
CASTLEWOOD DEVELOPMENTS LIMITED
REGISTERED NUMBER:13728004
|
BALANCE SHEET
AS AT 28 FEBRUARY 2026
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debtors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets less current liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
|
|
|
|
|
|
|
|
|
|
|
|
Net assets excluding pension asset
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
- 1 -
|
|
|
|
|
|
CASTLEWOOD DEVELOPMENTS LIMITED
REGISTERED NUMBER:13728004
|
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2026
The financial statements were approved and authorised for issue by the Board and were signed on its behalf on 8 October 2026.
The notes on pages 3 to 7 form part of these financial statements.
- 2 -
|
|
|
|
|
|
CASTLEWOOD DEVELOPMENTS LIMITED
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
Castlewood Developments Limited (the "Company") is a private Company limited by share capital, incorporated in England and Wales, registration number 13728004. The address of the registered office is The Sawmill, Colchester Road, Wix, Manningtree, Essex, CO11 2RS.
2.Accounting policies
|
|
|
Basis of preparation of financial statements
|
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
The Director is of the view that the Company will be able to meet its liabilities as they fall due and continue to trade for the foreseeable future, being a period of at least 12 months from the date of approval of these financial statements. Accordingly, the Director has prepared these financial statements on the going concern basis. In forming this opinion the Director has also obtained confirmation from the Castlewood Holdings Limited's directors of their intention to continue to support the company for a period of at least 12 months from the date of approval of these financial statements.
Turnover comprises the proceeds receivable from the sale of residential properties during the year,
excluding value added tax. Turnover is recognised on legal completion of a property sale, being the
point at which control and ownership pass to the purchaser and the consideration becomes due.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the
Company and the revenue can be reliably measured.
Turnover from the sale of properties is recognised when all of the following conditions are satisfied:
∙the Company has transferred the significant risks and rewards of ownership to the buyer;
∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of turnover can be measured reliably;
∙it is probable that the Company will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
- 3 -
|
|
|
|
|
|
CASTLEWOOD DEVELOPMENTS LIMITED
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
2.Accounting policies (continued)
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
|
|
|
Stocks and work in progress
|
Stocks are stated at the lower of cost and net realisable value, being based on construction costs incurred due to the stage of completion. Cost is based on the cost of purchase and work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
|
|
|
Cash and cash equivalents
|
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Interest income is recognised in profit or loss using the effective interest method.
- 4 -
|
|
|
|
|
|
CASTLEWOOD DEVELOPMENTS LIMITED
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
2.Accounting policies (continued)
|
|
|
Debtors, creditors and financial instruments
|
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from related parties.
|
|
Judgments in applying accounting policies and key sources of estimation uncertainty
|
Preparation of the financial statements requires management to make judgments, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and assumptions are based on experiences and other factors that are considered to be relevant. Actual results may differ from these estimates.
The main estimation area included within the financial statements is the valuation of stock. Judgements made by the Director include the allocation of costs across the relevant properties that are held in stock for development. In addition, stocks are assessed on an ongoing basis for recoverability and a provision would be made if an impairment exists.
The average monthly number of employees, including the Director, during the year was 2 (2025 - 3).
|
|
Work in progress (goods to be sold)
|
|
|
|
|
|
|
|
|
|
Within trade debtors, at the balance sheet date the following amounts were owed from related parties: Lumberjacks Limited £Nil (2025: £46,785); and Anglian Timber Limited £Nil (2025: £2,845).
|
- 5 -
|
|
|
|
|
|
CASTLEWOOD DEVELOPMENTS LIMITED
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
|
|
Cash and cash equivalents
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: Amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans from related party (see note 10)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other taxation and social security
|
|
|
|
|
|
|
|
|
|
Accruals and deferred income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Within trade creditors, at the balance sheet date the following amounts were owed to related parties: Lumberjacks Limited £5,613 (2025: £Nil); and Anglian Timber Limited £4,339 (2025: £Nil).
|
|
|
Creditors: Amounts falling due after more than one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans from related party (see note 10)
|
|
|
|
|
|
|
|
- 6 -
|
|
|
|
|
|
CASTLEWOOD DEVELOPMENTS LIMITED
|
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
|
|
|
|
|
Analysis of the maturity of loans is given below:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts falling due within one year
|
|
|
|
|
Loans from related party (note 8)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts falling due 2-5 years
|
|
|
|
|
Loans from related party (note 9)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The loans from a related party are secured over the assets of the Company. Interest is charged at a rate of 4% per annum.
|
|
|
Related party transactions
|
|
|
All related party transactions have been undertaken under normal commercial terms. At the balance sheet date the following amounts were owed to/(from) related parties: Lumberjacks Limited £5,613 (2025: £(46,785)); Anglian Timber Limited £4,339 (2025: £(2,845)); and Castlewood Holdings Limited £266,082 falling due within one year (2025: £1,324,015) and Castlewood Holdings Limited £Nil falling due in more than one year (2025: £256,082).
|
A R Milner-Moore is the ultimate controlling party.
- 7 -
|
|
|