For the financial period ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

These financial statements have been prepared using the historical cost convention.

Revenue from the sale of residential units is recognised when the significant risks and rewards of ownership transfer to the buyer, which is normally on legal completion. Where contracts include stage payments or reservation fees, these amounts are recognised as liabilities until completion. Revenue is measured at the transaction price, net of VAT and any amounts collected on behalf of third parties. Any directly attributable selling costs are recognised as an expense when incurred.

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Stocks consist of residential units held for sale and are stated at the lower of cost and net realisable value. Net realisable value represents the estimated selling price less the estimated costs of completion and costs necessary to make the sale. Cost includes land, direct construction expenditure, professional fees and an appropriate share of development overheads directly attributable to bringing the units to their present condition. Selling and administration costs, including all borrowing costs, are expensed as incurred. Costs are recognised in cost of sales when the related units are sold.

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.