Corsegreat Developments Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00700240

Corsegreat Developments Limited

Unaudited financial statements

31 March 2026

Corsegreat Developments Limited

Statement of financial position

31 March 2026

	2026		2025
Note	£	£	£	£

Fixed assets

Tangible assets	5	1,561,200	1,891,361
Investments	6	148,531	–
		-----------	-----------
		1,709,731	1,891,361

Current assets

Debtors	7	132,497	5,938
Cash at bank and in hand		184,450	27,977
		---------	-------
		316,947	33,915

Creditors: Amounts falling due within one year	8	( 62,210)		( 46,669)
		---------		-------
Net current assets/(liabilities)			254,737		( 12,754)
			-----------		-----------
Total assets less current liabilities			1,964,468		1,878,607

Provisions

Taxation including deferred tax	( 62,074)	( 64,333)
	-----------	-----------
Net assets	1,902,394	1,814,274
	-----------	-----------

Capital and reserves

Called up share capital		38	38
Investment property valuation reserve	9	995,837	1,188,792
Profit and loss account	9	906,519	625,444
		-----------	-----------
Shareholders funds		1,902,394	1,814,274
		-----------	-----------

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 comprehensive income 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 .

Corsegreat Developments Limited

Statement of financial position (continued)

31 March 2026

These financial statements were approved by the board of directors and authorised for issue on 13 October 2026 , and are signed on behalf of the board by:

S G D C Smith-Bosanquet

Director

Company registration number: 00700240

Corsegreat Developments Limited

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 Stanchils House, Hengrave, Bury St Edmunds, Suffolk, IP28 6NB.

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.

Investments

Investments are measured at fair value with changes in fair value being recognised in profit or loss.

Judgements and key sources of estimation uncertainty

Estimates and judgements used in preparing the financial statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The resulting accounting estimates will, by definition seldom equal the related actual results. Any subsequent changes are accounted for with an effect on income at the time such updated information is available. The estimates and assumptions that have a significant effect on the carrying amounts of assets and liabilities are discussed below: - In applying the Company's accounting policies for investment properties carried at fair value, consideration was given to the valuation of the Company's properties at the reporting date. Further detail of the estimate has been included in the tangible assets note.

Revenue recognition

Turnover is recognised at the fair value of the consideration received or receivable in the ordinary course of business. Rental income is recognised on an accruals basis in line with lease terms and arises solely in the UK.

Taxation

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 that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

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:

	Office equipment	-	25% straight line

Investment properties

Investment properties are shown at their open market value, measured by the directors who are not professionally qualified valuers. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

This is in accordance with the FRS 102 Section 1A which unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for by use of the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.

4. Employee numbers

The average number of employees during the year was 3 (2025: 3 ).

5. Tangible assets

	Freehold investment property	Office equipment	Total
	£	£	£
Cost
At 1 April 2025	1,891,200	780	1,891,980
Disposals	( 330,000)	–	( 330,000)
	-----------	----	-----------
At 31 March 2026	1,561,200	780	1,561,980
	-----------	----	-----------
Depreciation
At 1 April 2025	–	619	619
Charge for the year	–	161	161
	-----------	----	-----------
At 31 March 2026	–	780	780
	-----------	----	-----------
Carrying amount
At 31 March 2026	1,561,200	–	1,561,200
	-----------	----	-----------
At 31 March 2025	1,891,200	161	1,891,361
	-----------	----	-----------

Tangible assets held at valuation

Investment property comprises residential and commercial properties. The fair value of the Company's investment property at 31 March 2026 has been determined by the directors. In arriving at this valuation, the directors considered evidence of transaction prices for similar properties and other relevant data available at the reporting date. The valuation has been made on an open market value basis and reflects the directors' assessment of fair value in light of current economic conditions.

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Freehold investment property
	£
At 31 March 2026
Aggregate cost	503,289
Aggregate depreciation	–
	---------
Carrying value	503,289
	---------

At 31 March 2025
Aggregate cost	638,118
Aggregate depreciation	–
	---------
Carrying value	638,118
	---------

6. Investments

	Other investments other than loans
	£
Cost
At 1 April 2025	–
Additions	150,202
	---------
At 31 March 2026	150,202
	---------
Impairment
At 1 April 2025	–
Impairment losses	1,671
	---------
At 31 March 2026	1,671
	---------

Carrying amount
At 31 March 2026	148,531
	---------
At 31 March 2025	–
	---------

7. Debtors

	2026	2025
	£	£
Trade debtors	552	4,938
Other debtors	131,945	1,000
	---------	------
	132,497	5,938
	---------	------

8. Creditors: Amounts falling due within one year

	2026	2025
	£	£
Social security and other taxes	47,996	28,799
Other creditors	14,214	17,870
	-------	-------
	62,210	46,669
	-------	-------

9. Reserves

Investment property valuation reserve - This reserve records accumulated fair value adjustments in respect of the freehold investment property recognised through profit or loss and is non-distributable. Profit and loss account - This reserve records retained earnings and accumulated losses.

10. Directors' advances, credits and guarantees

Included within debtors at the year end are directors loan accounts totalling £129,507 (2025: £Nil). The maximum total overdrawn balance during the year was £129,507. Interest of £367 was charged at the official rate.