ACCOUNTS - Final Accounts

An analysis of turnover by class of business is as follows:

Registered number: 08541286

AMETHYST HOMES LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

AMETHYST HOMES LIMITED

COMPANY INFORMATION

Directors	Mr R M Bass
	Mr G Coils (resigned 18 December 2025)
	Mr R J Emmerson
	Mr R M Short


Registered number	08541286


Registered office	Steel House
	Ponds Court Business Park
	Genesis Way
	Consett
	County Durham
	DH8 5XP


Independent auditors	Kinnair Associates Limited
	Chartered Accountants & Statutory Auditor
	Aston House
	Redburn Road
	Newcastle upon Tyne
	NE5 1NB

AMETHYST HOMES LIMITED

CONTENTS

	Page
Strategic Report	1 - 2
Directors' Report	3 - 4
Independent Auditors' Report	5 - 8
Statement of Income and Retained Earnings	9
Balance Sheet	10
Statement of Cash Flows	11
Analysis of Net Debt	12
Notes to the Financial Statements	13 - 26

AMETHYST HOMES LIMITED

STRATEGIC REPORT

FOR THE YEAR ENDED 31 JANUARY 2026

Introduction

The Directors present their strategic report together with the audited financial statements for the year ended 31st January 2026.

Business review

During the financial year the business was active on three developments, namely Regents Park in Consett, The Pastures in Northumberland and Vallum Heights in Newcastle, with legal completions being taken off all three. This resulted in a total number of new homes legally completed in the year of 53 new homes (2025: 48 new homes).

Turnover decreased to £10.97m (2025: £12.29m), and gross profit has decreased to £847k (2025: £1.547m). The retained loss after tax for the year was £515k (2025: Profit £504k). This loss includes a downward adjustment to the value of investment property of £204k.

Excluding the investment property adjustment, the company’s adjusted loss was £311k with the decrease a direct result of reduced margins being achieved by the business due to build cost inflation on completed homes.

The Company's liquidity ratios have decreased slightly in comparison with the previous year, and whilst bank liquidity has also reduced, this is a direct result of the investment made into a new 110 unit site in Northumberland, together with significant forward investment into several future schemes which will result in new homes being delivered in 2027/28.

The business remains focused on delivering high quality well priced homes for a range of purchasers from first time buyers to family homes, to downsizers. Our products range from traditional two-story homes as well as a wide range of bungalows, allowing a broad range of available house types.

Our key values of Health and Safety and Our Customers Experience remain our focus and drive for the business.

The Health, Safety and general wellbeing of our staff, subcontractors and customers remains our number one priority. Our performance is measured monthly and regularly reviewed by the board.

Customer satisfaction is measured on a plot-by-plot basis. During the financial year, we continued to use the services of an external company to carry out customer satisfaction surveys on our behalf. We were delighted to receive a Gold Award for the fourth year running. We also retained the 5* rating in the HBF Customer Satisfaction Survey in our third year of participation, again demonstrating our continued commitment to quality and customer satisfaction.

The medium-term objective is to deliver 125 units per annum on sites within the North East of England.

This objective will be achieved by: developing high quality homes; producing returns on capital employed in line with industry benchmarks; maintaining good liquidity; and increasing the land bank with planning consent.

Page 1

AMETHYST HOMES LIMITED

STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2026

Principal risks and uncertainties

The primary operating risks for the company centre around the economy as a whole and its direct impact on the private house building industry.

General economic and global factors remain challenges to business as this continues to affect all aspects of the industry’s labour and supply chain.

Securing land in the right locations remains a key focus to ensure profitable managed growth for the business. However, the ongoing challenge of the planning system, has impacted the business by delaying new developments in the year, and continues to frustrate the business.

The above risks are being continually monitored and strategies have been developed, together with the strengthening of internal processes to minimise any adverse effects. These are reviewed monthly by the board.

Financial key performance indicators

The business uses reservation rates, legal completions achieved, revenue, gross profit, and net profit margins together with liquidity ratios to monitor financial performance. These key performance indicators are reviewed by the board on an ongoing basis.

Other key performance indicators

Health & Safety and Customer Satisfaction are also monitored and results form part of our KPI’s for the business as a whole. These are reviewed monthly by the board.

Future Developments

While the uncertainty created by the current economic climate cannot be ignored, the past twelve months has been used as an opportunity to focus the management team on the business's key objectives.

In addition, the company has made significant investment into new developments, specifically at Tynemouth Station, Cramlington and Guidepost. These will generate additional liquidity for the business, enabling the company to generate strong and sustainable growth in the years ahead.

The business will continue to manage its operations in a controlled manner, taking into account the external impacts that the general economic environment creates. We are confident that, given the general undersupply of new homes throughout the region, that the business is in good shape to deliver it’s short and medium-term growth plans in a controlled and well managed way.

This report was approved by the board on 30 October 2026 and signed on its behalf.

Mr R J Emmerson

Director

Page 2

AMETHYST HOMES LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 JANUARY 2026

The directors present their report and the financial statements for the year ended 31 January 2026.

Principal activity

The company's principal activity during the year continued to be the construction of market and social housing.

Results and dividends

The loss for the year, after taxation, amounted to £515,078 (2025 - profit £504,115).

Directors

The directors who served during the year were:

Mr R M Bass

Mr G Coils (resigned 18 December 2025)

Mr R J Emmerson

Mr R M Short

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Page 3

AMETHYST HOMES LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2026

Auditors

The auditors, Kinnair Associates Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 30 October 2026 and signed on its behalf.

Mr R J Emmerson

Director

Page 4

AMETHYST HOMES LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF AMETHYST HOMES LIMITED

Opinion

We have audited the financial statements of Amethyst Homes Limited (the 'Company') for the year ended 31 January 2026, which comprise the Statement of Income and Retained Earnings, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the Company's affairs as at 31 January 2026 and of its loss for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Page 5

AMETHYST HOMES LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF AMETHYST HOMES LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Page 6

AMETHYST HOMES LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF AMETHYST HOMES LIMITED (CONTINUED)

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

•the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
• we identified the laws and regulations applicable to the Company through discussions with management;
• we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Company, including the Companies Act 2006;
• we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and
• we ensured that the identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: -
• making enquiries of management as to where they considered there was susceptibility to fraud and their knowledge of actual, suspected and alleged fraud; and
• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we: -
• performed analytical procedures to identify any unusual or unexpected relationships;
• tested journal entries to identify unusual transactions; and
• assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: -
• agreeing financial statement disclosures to underlying supporting documentation; and
• enquiring of management as to actual and potential litigation and claims.

Page 7

AMETHYST HOMES LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF AMETHYST HOMES LIMITED (CONTINUED)

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Detlev Anderson (Senior Statutory Auditor)

for and on behalf of

Kinnair Associates Limited

Chartered Accountants

Statutory Auditor

Aston House

Redburn Road

Newcastle upon Tyne

NE5 1NB

30 October 2026

Page 8

AMETHYST HOMES LIMITED

STATEMENT OF INCOME AND RETAINED EARNINGS

FOR THE YEAR ENDED 31 JANUARY 2026

	2026	2025
Note	£	£


Turnover	4	10,972,495	12,291,234
Cost of sales		(10,125,822)	(10,743,408)
Gross profit		846,673	1,547,826
Administrative expenses		(1,390,651)	(1,447,493)
Other operating income	5	104,867	278,707
Other operating charges		(14,870)	(38,836)
Changes in fair value of investment property		(203,520)	-
Operating (loss)/profit		(657,501)	340,204
Interest receivable and similar income	9	41,732	71,697
Interest payable and similar expenses	10	(26)	(1,289)
(Loss)/profit before tax		(615,795)	410,612
Tax on (loss)/profit	11	100,717	93,503
(Loss)/profit after tax		(515,078)	504,115



Retained earnings at the beginning of the year	9,102,234	8,848,349
	9,102,234	8,848,349
(Loss)/profit for the year	(515,078)	504,115
Dividends declared and paid	-	(250,230)
Retained earnings at the end of the year	8,587,156	9,102,234

There were no recognised gains and losses for 2026 or 2025 other than those included in the statement of income and retained earnings.

The notes on pages 13 to 26 form part of these financial statements.

Page 9

AMETHYST HOMES LIMITED

REGISTERED NUMBER: 08541286

BALANCE SHEET

AS AT 31 JANUARY 2026

		2026		2025
Note		£		£

Fixed assets
Tangible assets	13		212,859		276,387
Investment property	14		800,000		999,687
			1,012,859		1,276,074
Current assets
Stocks	15	8,564,764		5,643,377
Debtors: amounts falling due within one year	16	778,831		1,311,726
Cash at bank and in hand	17	1,948,897		3,787,286
		11,292,492		10,742,389
Creditors: amounts falling due within one year	18	(3,668,941)		(2,851,195)
Net current assets			7,623,551		7,891,194
Total assets less current liabilities			8,636,410		9,167,268
Provisions for liabilities
Deferred tax	20	(49,154)		(64,934)
			(49,154)		(64,934)
Net assets			8,587,256		9,102,334

Capital and reserves
Called up share capital	21	95	95
Capital redemption reserve	22	5	5
Profit and loss account	22	8,587,156	9,102,234
		8,587,256	9,102,334

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 October 2026.

Mr R J Emmerson

Director

The notes on pages 13 to 26 form part of these financial statements.

Page 10

AMETHYST HOMES LIMITED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 JANUARY 2026

			2026	2025
			£	£

Cash flows from operating activities
(Loss)/profit for the financial year	(515,078)	504,115
Adjustments for:
Depreciation of tangible assets	65,669	84,577
Interest paid	-	1,289
Interest received	(41,732)	(71,697)
Taxation charge	(100,717)	(93,503)
(Increase)/decrease in stocks	(2,921,387)	305,178
Decrease/(increase) in debtors	540,453	(871,593)
Increase/(decrease) in creditors	838,672	(1,391,772)
Net fair value losses recognised in P&L	203,520	-
Corporation tax received/(paid)	56,453	(56,121)
Net cash generated from operating activities	(1,874,147)	(1,589,527)

Cash flows from investing activities
Purchase of tangible fixed assets	(2,141)	(90,386)
Sale of tangible fixed assets	-	239
Purchase of investment properties	(3,833)	(999,687)
Interest received	41,732	71,697
Net cash from investing activities	35,758	(1,018,137)
Cash flows from financing activities
Dividends paid	-	(250,230)
Interest paid	-	(1,289)
Net cash used in financing activities	-	(251,519)
Net (decrease) in cash and cash equivalents	(1,838,389)	(2,859,183)
Cash and cash equivalents at beginning of year	3,787,286	6,646,469
Cash and cash equivalents at the end of year	1,948,897	3,787,286

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	1,948,897	3,787,286
	1,948,897	3,787,286

Page 11

AMETHYST HOMES LIMITED

ANALYSIS OF NET DEBT

FOR THE YEAR ENDED 31 JANUARY 2026


At 1 February 2025	Cash flows	At 31 January 2026
£	£	£

Cash at bank and in hand	3,787,286	(1,838,389)	1,948,897
	3,787,286	(1,838,389)	1,948,897

The notes on pages 13 to 26 form part of these financial statements.

Page 12

AMETHYST HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

1.	General information

Amethyst Homes Limited is a private company, company number 08541286, limited by shares and incorporated in England and Wales. The registered office is Steel House, Ponds Court Business Park, Genesis Way, Consett, County Durham, DH8 5XP.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The accounts have been prepared in Sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

Page 13

AMETHYST HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.5

Pensions

Defined contribution pension plan

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 payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 14

AMETHYST HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as shown below.

Depreciation is provided on the following basis:

Long-term leasehold property	-	2%	straight line
Plant and machinery	-	25%	reducing balance
Motor vehicles	-	25%	reducing balance
Office equipment	-	25%	reducing balance

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.8

Stocks and work in progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs comprise those costs incurred by the company in bringing the stocks to the location and condition intended by management and are calculated on a first-in first-out basis.

Estimated selling price less costs to complete and sell is based on the estimated selling price in an arm's length transaction less any estimated completion or selling costs that will be expected to be incurred in the transaction.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

At each balance sheet date, the directors undertake a review of its stock and work in progress to establish if any stock or work in progress is slow-moving or has become obsolete. Where any write-downs of stock become necessary to reduce the value from cost to estimated selling price less costs to complete and sell, such write-downs are recognised as an expense in profit or loss in the period in which the write-down or loss occurs.

2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 15

AMETHYST HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 16

AMETHYST HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

2.15

Investment property

Investment property is carried at fair value determined annually by external valuers or a director's valuation has occurred, and derived from the current market rents and investment property yields for comparable real estate, 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 profit or loss.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including the expectations of future events, that are believed to be reasonable under the circumstances.

Significant judgements in applying the entity's accounting policies
Stock and work in progress are carried at the lower of cost and net realisable value. Net realisable value represents the estimated selling price (in the ordinary course of business) less all estimated costs to completion and overheads. Valuations of site / phase work in progress are carried out at regular intervals and estimates of the costs to complete a site / phase and estimates of anticipated revenues are required to enable a development profit to be determined. Management are required to employ considerable judgement in estimating the profitability of a site / phase and in assessing any impairment provisions which may be required.

Gross profit is recognised for completed houses based on the latest whole site / phase gross margin which is an output of the site / phase valuation. These valuations, which are updated at frequent intervals throughout the life of the site / phase use actual and forecast selling prices, land and construction costs and are sensitive to future movements in both estimated costs to complete and expected selling prices. Forecast selling prices are inherently uncertain due to changes in market conditions.

In preparing these financial statements, the directors do not consider there to have been any other significant judgements that were required in the process of applying the company's accounting policies.

Key sources of estimation uncertainty.
Estimates included within the financial statements include depreciation charges and asset impairments (for example provision against stock and debtors). None of the estimates made in the preparation of these financial statements are considered to carry significant estimation uncertainty, nor bear significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year.

Page 17

AMETHYST HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

Sale of goods	10,972,495	12,291,234
	10,972,495	12,291,234

Analysis of turnover by country of destination:

					2026	2025
					£	£

United Kingdom	10,972,495	12,291,234
	10,972,495	12,291,234

5.	Other operating income
		2026	2025
		£	£

Net rents receivable	38,326	21,525
Service charge receivable	7,041	3,674
Sundry income	59,500	253,508
	104,867	278,707

Fees payable to the Company's auditors for the audit of the Company's financial statements

5,250

5,000

Page 18

AMETHYST HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

Wages and salaries	829,158	865,110
Social security costs	113,147	104,147
Cost of defined contribution scheme	45,142	47,201
	987,447	1,016,458

The average monthly number of employees, including the directors, during the year was as follows:

	2026	2025
	No.	No.

Administration	14	14
Development	14	14
Sales	4	4

	32	32

8.	Directors' remuneration
		2026	2025
		£	£

Directors' emoluments	312,094	354,772
Company contributions to defined contribution pension schemes	35,001	36,542
	347,095	391,314

	During the year retirement benefits were accruing to 4 directors (2025 - 4) in respect of defined contribution pension schemes.
	The highest paid director received remuneration of £141,733 (2025 - £141,762).
	The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £1614 (2025 - £1,321).

Page 19

AMETHYST HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

9.	Interest receivable
		2026	2025
		£	£

	Other interest receivable	41,732	71,697
		41,732	71,697

10.	Interest payable and similar expenses
		2026	2025
		£	£

Bank interest payable	26	-
Other interest payable	-	1,289
	26	1,289

Corporation tax
Current tax on profits for the year	-	23,000
Adjustments in respect of previous periods	(84,937)	(117,998)
	(84,937)	(94,998)

Total current tax	(84,937)	(94,998)

Deferred tax
Origination and reversal of timing differences	(15,780)	1,495
Total deferred tax	(15,780)	1,495


	Tax on (loss)/profit	(100,717)	(93,503)

Page 20

AMETHYST HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

11.Taxation (continued)

(Loss)/profit on ordinary activities before tax

(615,794)

410,611

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2025 - 25%)	-	102,653
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	-	6,100
Capital allowances for year in excess of depreciation	-	(1,393)
Land remediation enhanced expenditure tax relief	-	(107,361)
Adjustments to tax charge in respect of prior periods	(84,937)	(94,997)
Short-term timing difference leading to an increase (decrease) in taxation	(15,780)	1,495
Total tax charge for the year	(100,717)	(93,503)

Page 21

AMETHYST HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

11.Taxation (continued)

Factors that may affect future tax charges

The rate of corporation tax throughout the period was 25% and this was the rate of corporation tax enacted at the balance sheet date. Accordingly, the company's profits for this period are taxed at an effective rate of 25% (2025: 25%). The Company is eligible to claim Land Remediation Tax Relief which will lower tax charges.

12.	Dividends
		2026	2025
		£	£

	Dividends analysis	-	250,230
		-	250,230

13.	Tangible fixed assets

	Long-term leasehold property	Plant and machinery	Motor vehicles	Office equipment	Total
	£	£	£	£	£
Cost or valuation
At 1 February 2025	20,320	504,872	27,643	94,737	647,572
Additions	-	-	-	2,141	2,141
At 31 January 2026	20,320	504,872	27,643	96,878	649,713
Depreciation
At 1 February 2025	3,667	288,464	9,580	69,474	371,185
Charge for the year on owned assets	-	54,126	4,516	6,619	65,261
Charge for the year on financed assets	408	-	-	-	408
At 31 January 2026	4,075	342,590	14,096	76,093	436,854
Net book value
At 31 January 2026	16,245	162,282	13,547	20,785	212,859
At 31 January 2025	16,653	216,408	18,063	25,263	276,387

Page 22

AMETHYST HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

13.Tangible fixed assets (continued)

The net book value of land and buildings may be further analysed as follows:
	2026	2025
	£	£

Long leasehold	16,245	16,653
	16,245	16,653

14.	Investment property

		Long term leasehold investment property
		£
	Valuation
	At 1 February 2025	999,687
	Additions at cost	3,833
	Surplus on revaluation	(203,520)
	At 31 January 2026	800,000

The 2026 valuations were made by the directors, on an open market value basis.

The retail units at Regents Court, Consett, have been included at their fair value of £800,000. Changes in fair value are recognised in the profit or loss.

A deferred tax asset has not been recognised following the revaluation as it is not probable that sufficient future taxable profits will be available for recovery due to Amethyst being loss making this year.


					2026	2025
					£	£

	Historic cost	1,003,520	999,687
		1,003,520	999,687

Page 23

AMETHYST HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

15.	Stocks
		2026	2025
		£	£

Stocks - work in progress	8,564,764	5,643,377
	8,564,764	5,643,377

16.

Debtors

					2026	2025
					£	£


Trade debtors	420,270	1,025,897
Other debtors	175,243	167,685
Prepayments and accrued income	116,007	118,144
Tax recoverable	67,311	-
	778,831	1,311,726

17.	Cash and cash equivalents
		2026	2025
		£	£

Cash at bank and in hand	1,948,897	3,787,286
	1,948,897	3,787,286

Page 24

AMETHYST HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

18.	Creditors: Amounts falling due within one year
		2026	2025
		£	£

Trade creditors	562,058	372,667
Corporation tax	-	20,926
Other taxation and social security	54,433	51,079
Other creditors	436,188	398,352
Accruals and deferred income	2,616,262	2,008,171
	3,668,941	2,851,195

The deferred land consideration is secured by a first legal charge over the freehold land at Phase 6, Whinney Hill Farm. The charge was granted with Advance Northumberland (Developments) Limited and secures amounts due under the land purchase agreement.

19.	Financial instruments
		2026	2025
		£	£

	Financial assets
	Financial assets measured at fair value through profit or loss	1,948,897	3,787,286

20.	Deferred taxation

		2026
		£

	At beginning of year	(64,934)
	Charged to profit or loss	15,780
	At end of year	(49,154)

The provision for deferred taxation is made up as follows:
	2026	2025
	£	£

	Accelerated capital allowances	(49,154)	(64,934)
		(49,154)	(64,934)

Page 25

AMETHYST HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

21.	Share capital
		2026	2025
		£	£

Allotted, called up and fully paid

9,500 (2025 - 9,500) Ordinary shares shares of £0.01 each	95	95

22.

Reserves

Capital redemption reserve

The capital redemption reserve arose on the redemption of shares and is non-distributable.

Profit and loss account

The profit and loss account reserve represents cumulative distributable profits.

23.	Pension commitments

The company provides a defined contribution scheme for its employees. The amount recognised as an expense for the year was £45,142 (2025: £37,201).

24.	Transactions with directors

No balance due from the director at 31 January 2026 (2025 - nil).

25.

Related party transactions

Absolute Civil Engineering is considered a related party due to Mark Short being a director and Richard Emmerson being the company secretary. As at 31st January 2026, included in prepayments and accrued income is the balance due from Absolute Civil Engineering of £1,056 and included in accruals is a balance owed to Absolute Civil Engineering of £89,955. During the year, transactions between the companies amounted to £181,930.

Project Genesis Management Company Limited is considered a related party due to Mark Short being a director and Richard Emmerson being the company secretary. During the year, transactions between the companies amounted to £19,934.

Dysart Developments Limited is considered a related party due to Mark Short being a director and Richard Emmerson being the company secretary. As at 31st January 2026, included in creditors is the balance owed to Dysart Developments Limited of £10,536. During the year, transactions between the companies amounted to £194,308.

Project Genesis Limited is considered a related party due to Mark Short being a director and Richard Emmerson being the company secretary. As of 31st January 2026, included in accruals is a balance owed to Project Genesis Limited of £431,218, relating to costs regarding the investment properties. During the year, transactions between the companies amounted to £1,093,000. The accrual has been settled in full post year end.

Page 26