REGISTERED NUMBER: 02021247 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2026

FOR

TERRAFIRMA DESIGNS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T G Brightmore

Mrs M J Brightmore

REGISTERED OFFICE:

Fishpond House

Beechwood Lane

Cooksbridge

East Sussex

BN7 3QG

REGISTERED NUMBER:

02021247 (England and Wales)

ACCOUNTANTS:

Parkers

Cornelius House

178-180 Church Road

Hove

East Sussex

BN3 2DJ

FIXED ASSETS

Tangible assets

4

17,080

22,674

Investments

5

40,430

40,430

Investment property

6

2,460,000

2,496,000

2,517,510

2,559,104

CURRENT ASSETS

Debtors

7

15,584

9,404

Cash at bank and in hand

195,644

187,164

211,228

196,568

CREDITORS

Amounts falling due within one year

8

43,465

45,530

NET CURRENT ASSETS

167,763

151,038

TOTAL ASSETS LESS CURRENT LIABILITIES

2,685,273

2,710,142

PROVISIONS FOR LIABILITIES

9

104,870

115,269

NET ASSETS

2,580,403

2,594,873

CAPITAL AND RESERVES

Called up share capital

800

800

Revaluation reserve

10

431,085

458,085

Retained earnings

2,148,518

2,135,988

SHAREHOLDERS' FUNDS

2,580,403

2,594,873

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2026 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13th October 2026 and were signed on its behalf by:

T G Brightmore - Director

1.	STATUTORY INFORMATION

Terrafirma Designs Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates

The directors have determined the value of the investment property now that it has been re-classified from a trading development in progress.

Turnover

Turnover comprises property and project management fees receivable, excluding VAT, and are recognised when the company has a contractual right to consideration.

Rents receivable from the company's investment property are now shown as turnover (previously other operating income).

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Investment property

The investment property is shown at the company's net realisable value of the current net market value to an investor based on the investment yields for commercial property and market values for residential property.

The valuation surplus on the reclassification to investment property has been recognised as a taxable development profit in the profit and loss account.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Taxation

Taxation for the year comprises current corporation 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 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.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2025 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st April 2025

and 31st March 2026

3,175

7,165

34,780

8,590

53,710

DEPRECIATION

At 1st April 2025

2,090

5,067

15,702

8,177

31,036

Charge for year

163

315

4,770

346

5,594

At 31st March 2026

2,253

5,382

20,472

8,523

36,630

NET BOOK VALUE

At 31st March 2026

922

1,783

14,308

67

17,080

At 31st March 2025

1,085

2,098

19,078

413

22,674

5.	FIXED ASSET INVESTMENTS

Interest

Interest

in other

in joint

participating

Unlisted

venture

interests

investments

Totals

£

£

£

£

COST

At 1st April 2025

and 31st March 2026

250

34,000

6,180

40,430

NET BOOK VALUE

At 31st March 2026

250

34,000

6,180

40,430

At 31st March 2025

250

34,000

6,180

40,430

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Joint venture

Elm Court (Seaford) Ltd

Registered office: United Kingdom

Nature of business: Property development

%

Class of shares:

holding

B Ordinary

25.00

2026

2025

£

£

Aggregate capital and reserves

(28,288

)

(17,424

)

Loss for the year

(10,864

)

(2,603

)

The unlisted investment comprises land at cost.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2025

2,496,000

Revaluations

(36,000

)

At 31st March 2026

2,460,000

NET BOOK VALUE

At 31st March 2026

2,460,000

At 31st March 2025

2,496,000

Fair value at 31st March 2026 is represented by:

£

Valuation in 2026

402,398

Cost

2,057,602

2,460,000

If the investment property had not been revalued it would have been included at the following historical cost:

2026

2025

£

£

Cost

2,057,602

2,057,602

Commercial investment property was valued on a net investment yield basis on 31st March 2026 by the Managing Director .

Residential investment properties were valued on a market value basis on 31st March 2026 by the Managing Director.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Other debtors

15,584

9,404

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Taxation and social security

21,441

24,076

Other creditors

22,024

21,454

43,465

45,530

9.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

Other timing differences

104,870

115,269

Deferred

tax

£

Balance at 1st April 2025

115,269

Provided during year

(10,399

)

Balance at 31st March 2026

104,870

10.

RESERVES

Revaluatio

reserve

£

At 1st April 2025

458,085

Revaluation reserve movement

(27,000

)

At 31st March 2026

431,085