GO-DEVELOP (FERNDOWN) LIMITED


Director	O'CONNELL, Daniel James


Registered Address	The Bell Hotel
	High Street
	Swindon
	SN1 3EP


Registered Number	10055621 (England and Wales)

Balance Sheet as at
29 June 2025

	Notes	2025		2024
		£	£	£	£
Current assets
Stocks	3	4,503,133		5,011,679
Debtors		49,138		11,920
Cash at bank and on hand		1		6,130
		4,552,272		5,029,729
Creditors amounts falling due within one year	4	(433,556)		(28,578)
Net current assets (liabilities)			4,118,716		5,001,151
Total assets less current liabilities			4,118,716		5,001,151
Creditors amounts falling due after one year	5		(5,000,125)		(3,696,108)
Net assets			(881,409)		1,305,043
Capital and reserves
Called up share capital			1		1
Profit and loss account			(881,410)		1,305,042
Shareholders' funds			(881,409)		1,305,043

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 Director acknowledges 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 Director on 19 October 2026, and are signed on its behalf by:

O'CONNELL, Daniel James
Director
Registered Company No. 10055621

GO-DEVELOP (FERNDOWN) LIMITED

Notes to the Financial Statements
for the year ended 29 June 2025

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.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Going concern
	At 29 June 2025 the company had net liabilities of £881,410, arising from the write-down of its development property to net realisable value. The development is funded through to completion by the company's development lender, and the principal contractor has agreed to defer amounts owed to it until completion. Since the year end the company's parent undertaking, Chris James Property Investments Ltd, has entered liquidation. The director expects the development to be completed and sold, with the proceeds applied to repay the lender and creditors, and on that basis has a reasonable expectation that the company will continue in operational existence for the foreseeable future. The financial statements have therefore been prepared on the going concern basis. These circumstances indicate the existence of a material uncertainty which may cast significant doubt on the company's ability to continue as a going concern. The financial statements do not include any adjustments that would result if the company were unable to continue as a going concern.

Going concern

At 29 June 2025 the company had net liabilities of £881,410, arising from the write-down of its development property to net realisable value. The development is funded through to completion by the company's development lender, and the principal contractor has agreed to defer amounts owed to it until completion. Since the year end the company's parent undertaking, Chris James Property Investments Ltd, has entered liquidation. The director expects the development to be completed and sold, with the proceeds applied to repay the lender and creditors, and on that basis has a reasonable expectation that the company will continue in operational existence for the foreseeable future. The financial statements have therefore been prepared on the going concern basis. These circumstances indicate the existence of a material uncertainty which may cast significant doubt on the company's ability to continue as a going concern. The financial statements do not include any adjustments that would result if the company were unable to continue as a going concern.

	Judgements and key sources of estimation uncertainty
	The key source of estimation uncertainty is the net realisable value of the development property held in work in progress. Net realisable value has been estimated as the expected sales value of the completed development, based on an independent RICS valuation, less the estimated costs to complete and costs of sale. Changes in these estimates could have a material effect on the carrying amount of work in progress.

Judgements and key sources of estimation uncertainty

The key source of estimation uncertainty is the net realisable value of the development property held in work in progress. Net realisable value has been estimated as the expected sales value of the completed development, based on an independent RICS valuation, less the estimated costs to complete and costs of sale. Changes in these estimates could have a material effect on the carrying amount of work in progress.

	Stocks and work in progress
	Work in progress comprises the costs of the property development, including land, construction and other directly attributable costs. It is stated at the lower of cost and net realisable value. Net realisable value is the estimated selling price of the completed development less the estimated costs to complete and costs of sale. Any write-down to net realisable value is recognised in profit or loss.

Stocks and work in progress

Work in progress comprises the costs of the property development, including land, construction and other directly attributable costs. It is stated at the lower of cost and net realisable value. Net realisable value is the estimated selling price of the completed development less the estimated costs to complete and costs of sale. Any write-down to net realisable value is recognised in profit or loss.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	1		2

3.	Stocks

	2025	2024
	£	£
Work in progress	4,503,133	5,011,679
Total	4,503,133	5,011,679

4.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	406,663	1,710
Bank borrowings and overdrafts	26	-
Other creditors	22,768	22,768
Accrued liabilities and deferred income	4,099	4,100
Total	433,556	28,578

5.	Creditors: amounts due after one year

	2025	2024
	£	£
Amounts owed to related parties	4,816,157	3,696,108
Other creditors	183,968	-
Total	5,000,125	3,696,108

6.	Secured creditors
	The loan from Blend Network of £183,968 (2024: £nil) is secured. Blend (Security Trustee) Ltd holds a fixed and floating charge over all estates or interests in the company's freehold, leasehold and other immovable property, a fixed charge over the freehold property known as 1 Carroll Avenue, Ferndown, Dorset, BH22 8BW, and a fixed charge over building contracts. Holden Family Ltd holds a charge over the freehold land and buildings known as 1 Carroll Avenue and 430 Ringwood Road, Ferndown.

Secured creditors

The loan from Blend Network of £183,968 (2024: £nil) is secured. Blend (Security Trustee) Ltd holds a fixed and floating charge over all estates or interests in the company's freehold, leasehold and other immovable property, a fixed charge over the freehold property known as 1 Carroll Avenue, Ferndown, Dorset, BH22 8BW, and a fixed charge over building contracts. Holden Family Ltd holds a charge over the freehold land and buildings known as 1 Carroll Avenue and 430 Ringwood Road, Ferndown.

7.	Events after reporting date
	After the reporting date, the company's parent undertaking, Chris James Property Investments Ltd, entered liquidation. Amounts owed by the company to its parent undertaking at 29 June 2025 were £4,785,024.

8.	Parent-subsidiary relationships
	The company's immediate and ultimate parent undertaking is Chris James Property Investments Ltd, a company registered in England and Wales.