REGISTERED NUMBER: 08922585 (England and Wales)

21st Century Homes Limited

Unaudited Financial Statements for the Year Ended 31 March 2026

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W Habershon

J Habershon

REGISTERED OFFICE:

One New Street

Wells

Somerset

BA5 2LA

REGISTERED NUMBER:

08922585 (England and Wales)

ACCOUNTANTS:

Webb & Co Ltd

Accountants and Business Advisers

One New Street

Wells

Somerset

BA5 2LA

FIXED ASSETS

Intangible assets

4

51,523

63,872

Tangible assets

5

30,670

40,765

Investments

6

1,974,251

985,552

Investment property

7

6,670,000

6,530,000

8,726,444

7,620,189

CURRENT ASSETS

Debtors

8

1,031,674

978,722

Cash at bank and in hand

76,452

58,086

1,108,126

1,036,808

CREDITORS

Amounts falling due within one year

9

349,274

110,354

NET CURRENT ASSETS

758,852

926,454

TOTAL ASSETS LESS CURRENT LIABILITIES

9,485,296

8,546,643

CREDITORS

Amounts falling due after more than one year

10

(7,059,449

)

(6,856,764

)

PROVISIONS FOR LIABILITIES

(624,661

)

(407,249

)

NET ASSETS

1,801,186

1,282,630

CAPITAL AND RESERVES

Called up share capital

12

100

100

Fair value reserve

2,665,644

1,950,510

Retained earnings

(864,558

)

(667,980

)

SHAREHOLDERS' FUNDS

1,801,186

1,282,630

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2026 and were signed on its behalf by:

W Habershon - Director

1.	STATUTORY INFORMATION

21st Century Homes 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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about 21st Century Homes Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents rental income from properties and is recognised on a straight-line basis over the term of the lease. Rental income is measured at the fair value of the consideration received or receivable, excluding VAT. Incentives granted to tenants, such as rent-free periods, are recognised evenly over the term of the lease. Any service charges and other income related to leased assets are recognised when the related services are performed.

Intangible assets

Recognition and Initial Measurement

Intangible assets are recognised when they are identifiable, the entity has control over the asset, and future economic benefits are expected to flow to the entity.

Intangible assets are initially measured at cost, which includes purchase price and directly attributable costs required to prepare the asset for use.

Subsequent Measurement

The entity adopts the Revaluation Model for the measurement of intangible assets:

Intangible assets are revalued to fair value where an active market exists.

Fair value is performed with sufficient regularity to ensure the carrying amount does not materially differ from fair value at the reporting date.

Fair value surpluses are credited to a fair value reserve within equity, except to the extent they reverse a deficit previously recognised in profit or loss. Fair value deficits are charged to profit or loss unless they reverse a previously recognised surplus.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

10% on cost

Fixtures and fittings

-

20% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Investments in joint operations properties

The company participates in joint operations properties where it has joint control alongside other parties and has direct rights to the assets, and obligations for the liabilities, relating to the arrangement.

In accordance with FRS 102 Section 15, the company recognises in its financial statements, in relation to its interest in a joint operation:

(a) Its contractually agreed share of any assets held jointly, including investment properties.

(b) Any liabilities incurred individually, and its shared proportion of any liabilities incurred jointly.

(c) Any revenue from the rents and other income arising from the joint operation properties, together with its

share of any expenses incurred by the joint operation properties.

(d) Any expenses which it has incurred individually in respect of its interest in the joint operation properties.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2025 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Bitcoin

£

COST OR VALUATION

At 1 April 2025

63,872

Revaluations

(12,349

)

At 31 March 2026

51,523

NET BOOK VALUE

At 31 March 2026

51,523

At 31 March 2025

63,872

Bitcoin has been revalued at open market value at 31 March 2026. The historical cost is £45,000 (2025 - £45,000).

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 April 2025

and 31 March 2026

2,610

49,167

51,777

DEPRECIATION

At 1 April 2025

1,179

9,833

11,012

Charge for year

261

9,834

10,095

At 31 March 2026

1,440

19,667

21,107

NET BOOK VALUE

At 31 March 2026

1,170

29,500

30,670

At 31 March 2025

1,431

39,334

40,765

6.	FIXED ASSET INVESTMENTS

Joint

Subsidiary

operations

undertaking

properties

Totals

£

£

£

COST OR VALUATION

At 1 April 2025

1

985,551

985,552

Additions

-

96,515

96,515

Revaluations

197,345

694,839

892,184

At 31 March 2026

197,346

1,776,905

1,974,251

NET BOOK VALUE

At 31 March 2026

197,346

1,776,905

1,974,251

At 31 March 2025

1

985,551

985,552

The investments were revalued at 31 March 2026 by the directors.

The company's investments at the Balance Sheet date in the share capital of companies include the following:

SYDI Limited

Registered office: One New Street, Wells, Somerset. BA5 2LA

Nature of business: Property development and rental

%

Class of shares:

holding

Ordinary

100.00

Joint operations - Investments/properties

The company holds a 67% interest in the property known as 40 The Avenue, Yeovil. This interest is held as a long-term investment. The carrying value of £181,805 (2025 - £181,905) represents the company's share of the property's fair value. This asset is held jointly with Warmly Limited under a contractual arrangement where the company is entitled to a proportionate share of the capital value and rental income.

The company holds a 67% interest in the property known as 70 High Street Wells and 60% interest in the properties known as 17-18 King George Street, Yeovil and 18 High Street, Yeovil. These interests are held as a long-term investment. The carrying value of these properties is £1,595,000 (2025 - £803,646) and represents the company's share of the properties fair value. These assets are held jointly with Lelapa Limited under a contractual arrangement where the company is entitled to a proportionate share of the capital value and rental income.

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2025

6,530,000

Additions

66,322

Revaluations

73,678

At 31 March 2026

6,670,000

NET BOOK VALUE

At 31 March 2026

6,670,000

At 31 March 2025

6,530,000

If investment properties had not been revalued they would have been included at the following historical cost £4,009,052 (2025 £3,942,730).

Investment properties were valued on an open market basis on 31 March 2026 by external parties and the directors.

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

1,994

23,557

Amounts owed by group undertakings

244,883

248,134

Amounts owed by associates

69,200

50,200

Other debtors

715,597

656,831

1,031,674

978,722

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

45,500

31,200

Trade creditors

99,375

5,900

Taxation and social security

2,554

2,371

Other creditors

201,845

70,883

349,274

110,354

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

4,239,058

4,025,674

Other creditors

2,820,391

2,831,090

7,059,449

6,856,764

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

779,250

779,285

11.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Bank loans

4,284,558

4,056,874

Other loans

260,100

260,100

4,544,658

4,316,974

Joint arrangements and borrowings

The company is party to an unincorporated joint operation contract for 40 The Avenue, Yeovil, holding a 67% participating interest, alongside Warmly Limited which holds a 33% interest.

A bank loan facility was established in the name of 21st Century Homes Limited to fund the joint operation, with an outstanding balance at the reporting date of £159,256 (2025 - £161,009). Under the terms of the facility agreement, 21st Century Homes Limited and Warmly Limited have provided a joint and several liability commitments to the lender for the full value of the debt.

In accordance with the unincorporated joint operation agreement, the funding obligations are internally apportioned 67% to 21st Century Homes Limited and 33% to Warmly Limited. Consequently, the company has recognised 100% of the external loan liability on its balance sheet, alongside a corresponding receivable of £52,309 (2025 - £53,132) from Warmly Limited within amounts owed by joint operation partners (other debtors), representing their contractual obligation to service their share of the debt.

The company is also party to an unincorporated joint operation contract for 70 High Street, Wells, holding a 67% participating interest, alongside Lelapa Limited which holds a 33% interest.

A bank loan facility was established in the name of 21st Century Homes Limited to fund the joint operation, with an outstanding balance at the reporting date of £151,500 (2025 - £151,500). Under the terms of the facility agreement, 21st Century Homes Limited and Lelapa Limited have provided a joint and several liability commitments to the lender for the full value of the debt.

In accordance with the unincorporated joint operation agreement, the funding obligations are internally apportioned 67% to 21st Century Homes Limited and 33% to Lelapa Ltd. Consequently, the company has recognised 100% of the external loan liability on its balance sheet, alongside a corresponding receivable of £49,995 (2025 - £49,995) from Lelapa Ltd within amounts owed by joint operation partners (other debtors), representing their contractual obligation to service their share of the debt.

Legal charges

The bank loans are secured as follows:

A fixed and floating charge covering all the property or undertakings of the company dated 09 January 2020

Legal charge over the property known as 52 Crofton Park, Yeovil BA21 4EE dated 04 March 2022.

Legal charge over the property known as 38 Crofton Park, Yeovil BA21 4EE dated 08 March 2022.

Legal charge over the property known as 97 Goldcroft, Yeovil BA21 4DF dated 09 March 2022.

Legal charge over the property known as 35 Crofton park, Yeovil BA21 4EB dated 09 August 2022.

Legal charge over the property known as 13 High East Street, Dorchester DT1 1HH dated 05 September 2022.

Legal charge over the property known as 19 Colmer Road, Yeovil BA21 4BS dated 08 December 2022.

Legal charge over the property known as 12 Manor Road, Yeovil BA20 1UG dated 14 March 2023.

Legal charge over the property known as 1-3 Cardinal House dated 11 August 2023.

Legal charge over the property known as 35 Crofton Park, Yeovil BA21 4EE dated 05 April 2024.

Legal charge over the property known as 70 High Street, Wells BA5 2AJ dated 03 June 2024.

Legal charge over the property known as 2 Farm Road, Street BA16 OBS dated 10 July 2024.

Legal charge over the property known as 40 The Avenue Yeovil BA21 4BN dated 06 February 2025.

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

100

Ordinary

£1

100

100

13.	CONTINGENT LIABILITIES

As detailed in Note 12, there is a liability to Lloyds Bank plc which is joint and several, 21st Century Homes Limited remains contingently liable for Warmly Limited 33% share £52,309 (2025 - £ 53,152) in the event of their default. At the reporting date, the risk of default by Warmly Limited is assessed as remote, and no provision for this contingent liability has been recognised.

There is also a liability to Lloyds Bank plc which is joint and several, 21st Century Homes Limited remains contingently liable for Lelapa Ltd 33% share £49,995 (2025 - £49,995) in the event of their default. At the reporting date, the risk of default by Lelapa Ltd is assessed as remote, and no provision for this contingent liability has been recognised.

14.	RELATED PARTY DISCLOSURES

The company has given an interest free loan to its subsidiary undertaking SYDI Limited. The balance outstanding at 31 March 2026 was £244,883 (2025 - £248,134)