| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2026 |
| FOR |
| FIRST HOME DEVELOPMENTS LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2026 |
| FOR |
| FIRST HOME DEVELOPMENTS LIMITED |
| FIRST HOME DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02110956) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 March 2026 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 7 |
| FIRST HOME DEVELOPMENTS LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 March 2026 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Chilworth Point |
| 1 Chilworth Road |
| Southampton |
| Hampshire |
| SO16 7JQ |
| FIRST HOME DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02110956) |
| BALANCE SHEET |
| 31 March 2026 |
| 2026 | 2025 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve |
| Retained earnings |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| FIRST HOME DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02110956) |
| BALANCE SHEET - continued |
| 31 March 2026 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| FIRST HOME DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02110956) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 March 2026 |
| 1. | STATUTORY INFORMATION |
| First Home Developments Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents amounts derived from holiday rents received and is stated net of valued added tax. |
| Tangible fixed assets |
| Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
| Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following methods. |
| Computer equipment - 25% straight line |
| Fixtures & fittings - 25% reducing balance |
| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, of it there is an indication of a significant change since the last reporting date. |
| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. |
| Investment property |
| Investment property is included at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss. Deferred tax is provided on these gains at the rate expected to apply when the property is sold. |
| Financial instruments |
| Short term debtors and creditors are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| FIRST HOME DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02110956) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 March 2026 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2025 |
| and 31 March 2026 |
| DEPRECIATION |
| At 1 April 2025 |
| Charge for year |
| At 31 March 2026 |
| NET BOOK VALUE |
| At 31 March 2026 |
| At 31 March 2025 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2025 |
| and 31 March 2026 |
| NET BOOK VALUE |
| At 31 March 2026 |
| At 31 March 2025 |
| Fair value at 31 March 2026 is represented by: |
| £ |
| Valuation in 2006 | 131,097 |
| Valuation in 2012 | 10,000 |
| Valuation in 2014 | 25,000 |
| Valuation in 2017 | 39,205 |
| Valuation in 2018 | 51,166 |
| Valuation in 2021 | 120,000 |
| Valuation in 2022 | 20,000 |
| Valuation in 2023 | 110,000 |
| Valuation in 2024 | (156,468 | ) |
| 350,000 |
| If the investment properties had not been revalued they would have been included at the following historical cost: |
| 2026 | 2025 |
| £ | £ |
| Cost | 68,903 | 68,903 |
| The investment properties were valued on a fair value basis on 31 March 2026 by Mr I T Bell FRICS - Director . |
| FIRST HOME DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02110956) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 March 2026 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| Trade debtors |
| Directors' current accounts | 1,675 | 851 |
| VAT |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| Trade creditors |
| Tax | ( |
) | ( |
) |
| Deferred income |
| Accrued expenses |
| 8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 March 2026 and 31 March 2025: |
| 2026 | 2025 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Loans to the director from the company are provided interest free and repayable on demand. |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| FIRST HOME DEVELOPMENTS LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of First Home Developments Limited for the year ended 31 March 2026 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of First Home Developments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of First Home Developments Limited and state those matters that we have agreed to state to the Board of Directors of First Home Developments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than First Home Developments Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that First Home Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of First Home Developments Limited. You consider that First Home Developments Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of First Home Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| Chilworth Point |
| 1 Chilworth Road |
| Southampton |
| Hampshire |
| SO16 7JQ |