HIGH GRANGE DEVELOPMENTS LIMITED


Directors	REED, Gary Stuart
	REED, Julie
	REED, Ronald


Company Secretary	REED, Julie


Registered Address	Cartgate
	Cartgate Road
	Whitehaven
	CA28 8QE


Registered Number	03773587 (England and Wales)

Statement of Financial Position
31 March 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	3		194,780		167,257
Investments	5		1,805,000		400,000
Investment property	4		2,981,973		1,629,303
			4,981,753		2,196,560
Current assets
Stocks	6	2,587,824		2,310,524
Debtors	7	62,239		38,572
Cash at bank and on hand		679,556		2,504,190
		3,329,619		4,853,286
Creditors amounts falling due within one year	8	(923,491)		(610,062)
Net current assets (liabilities)			2,406,128		4,243,224
Total assets less current liabilities			7,387,881		6,439,784
Provisions for liabilities	9		(48,600)		(41,800)
Net assets			7,339,281		6,397,984
Capital and reserves
Called up share capital			300,003		3
Revaluation reserve			585,749		255,000
Profit and loss account			6,453,529		6,142,981
Shareholders' funds			7,339,281		6,397,984

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 14 October 2026, and are signed on its behalf by:

REED, Gary Stuart
Director
Registered Company No. 03773587

HIGH GRANGE DEVELOPMENTS LIMITED

Notes to the Financial Statements
for the year ended 31 March 2026

1.	Accounting policies

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

	Employee benefits
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Employee benefits

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in accruals in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Plant and machinery	15
	Vehicles	25

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

	Investment property
	Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

Finance leases and hire purchase contracts

Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease

Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, 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 the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Stocks and work in progress

Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). 

At each date of Statement of Financial Position, 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 the Income Statement.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	16		14

3.	Tangible fixed assets

	Plant & machinery	Vehicles	Total
	£	£	£
Cost or valuation
At 01 April 25	360,257	130,614	490,871
Additions	81,300	21,349	102,649
Disposals	(66,000)	-	(66,000)
At 31 March 26	375,557	151,963	527,520
Depreciation and impairment
At 01 April 25	225,076	98,538	323,614
Charge for year	24,350	10,243	34,593
On disposals	(25,467)	-	(25,467)
At 31 March 26	223,959	108,781	332,740
Net book value
At 31 March 26	151,598	43,182	194,780
At 31 March 25	135,181	32,076	167,257

4.	Investment property
	The 2026 valuations were made by the directors, on an open market value for existing use basis. Had the investment properties been measured at historical cost the amount would have been. £2,581,511


		£
	Fair value at 01 April 25	1,629,303
	Additions	1,191,921
	Disposals	(170,000)
	Fair value adjustments	330,749
	At 31 March 26	2,981,973

5.	Fixed asset investments

	Other investments¹	Total
	£	£
Cost or valuation
At 01 April 25	400,000	400,000
Additions	1,555,000	1,555,000
Disposals	(150,000)	(150,000)
At 31 March 26	1,805,000	1,805,000
Net book value
At 31 March 26	1,805,000	1,805,000
At 31 March 25	400,000	400,000

	Notes
	¹Other investments other than loans

6.	Stocks

	2026	2025
	£	£
Work in progress	2,587,824	2,310,524
Total	2,587,824	2,310,524

7.	Debtors: amounts due within one year

	2026	2025
	£	£
Other debtors	62,239	38,572
Total	62,239	38,572

8.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	216,587	105,583
Taxation and social security	156,050	250,760
Other creditors	194,425	115,502
Accrued liabilities and deferred income	356,429	138,217
Total	923,491	610,062


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

9.	Provisions for liabilities

	2026	2025
	£	£
Net deferred tax liability (asset)	48,600	41,800
Total	48,600	41,800

10.	Pension commitments
	The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company. The pension cost charge represents contributions payable by the company to the fund and amounted to £8,555 (2025 - £8,816). Contributions totalling £1,365 (2025 -£1,998) were payable to the fund at the balance sheet date and are included in accruals

11.	Share capital
	On 16 February 2026 the company allotted and issued 300,000 Preference Shares of £1 each for a consideration of £1 each. These shares carry a right to a fixed, cumulative, preferential dividend at an annual rate of the lower of (i) 4% and (ii) the Bank of England’s base rate. In the event of any winding up or return of capital, the shares rank first in priority to any other share classes. The shares do not hold voting rights and can be redeemed in accordance with the company’s articles.

11.

Share capital

On 16 February 2026 the company allotted and issued 300,000 Preference Shares of £1 each for a consideration of £1 each. These shares carry a right to a fixed, cumulative, preferential dividend at an annual rate of the lower of (i) 4% and (ii) the Bank of England’s base rate. In the event of any winding up or return of capital, the shares rank first in priority to any other share classes. The shares do not hold voting rights and can be redeemed in accordance with the company’s articles.