REGISTERED NUMBER: 12851994 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2024

for

Yorkshire Country Properties (Shepley

Phase 1) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R H Butterfield

G R Butterfield

REGISTERED OFFICE:

Principle House

Tandem Industrial Estate

Waterloo

Huddersfield

HD5 0AL

REGISTERED NUMBER:

12851994 (England and Wales)

CURRENT ASSETS

Stocks

1,621,970

4,089,723

Debtors

4

215,968

126,062

Cash at bank

-

385,373

1,837,938

4,601,158

CREDITORS

Amounts falling due within one year

5

2,344,884

4,250,747

NET CURRENT (LIABILITIES)/ASSETS

(506,946

)

350,411

TOTAL ASSETS LESS CURRENT LIABILITIES

(506,946

)

350,411

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

(506,950

)

350,407

SHAREHOLDERS' FUNDS

(506,946

)

350,411

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31st December 2024 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 2nd September 2026 and were signed on its behalf by:

G R Butterfield - Director

1.	STATUTORY INFORMATION

Yorkshire Country Properties (Shepley Phase 1) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover comprises revenue recognised by the company in respect of goods supplied during the year from house building activities, included customer extras, exclusive of value added tax and sale discounts.

Turnover from house building activities is recognised upon legal completion of each sale. Deposits received in advance from customers are deferred until legal completion of each sale.

Work in progress

Work in progress is valued at the lower of cost and estimated net realisable value. Net realisable value is based on estimated sales values less future costs expected to be incurred on disposal. The directors have made an assessment as to the future expected sales values and the future costs to be incurred in completing the development.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statements of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are recognised at amortised cost with changes recognised in the income statement.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Borrowing costs

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

1,830

-

Amounts owed by associates

161,167

80,901

Other debtors

52,971

45,161

215,968

126,062

The amounts owed by associate undertakings are interest free and repayable on demand.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

10,388

-

Trade creditors

95,697

9,271

Amounts owed to associates

878,974

2,956,211

Taxation and social security

61,817

1,795

Other creditors

1,298,008

1,283,470

2,344,884

4,250,747

The amounts owed to associate undertakings are interest free and repayable on demand.

6.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Other loan

1,287,788

1,277,022

The loan is secured by way of debenture in favour of Lendco Limited dated 6 September 2024. The loan is secured over the land held for development along with a fixed charge over any and all of its present and future rights to title and interest in the land.

At 31 December 2024 there are secured charges in the form of debenture in favour of Homes and Communities Agency (Trading as Homes England) and Together Commercial Finance Limited. There are no outstanding balances owed in respect of these debentures at 31 December 2024.

7.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year the company received goods and services amounting to £742,039 (2023 - £2,280,573) from associated companies.

At 31 December 2024, the aggregate amount outstanding owed to associated companies was £717,807 (2023 - £2,875,310).