REGISTERED NUMBER: 00813227 (England and Wales)

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

AKWOOD PROPERTY CO.LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A J Armstrong

A E Bygraves

S A Merton Jones

A B Porter

M L Bygraves

SECRETARY:

Hyde & Lewis Ltd

REGISTERED OFFICE:

1 Cambridge Road

Sandy

SG19 1JE

REGISTERED NUMBER:

00813227 (England and Wales)

AUDITORS:

BN Audit Services Limited (Statutory Auditors)

45a Station Road

Willington

Bedfordshire

MK44 3QL

BANKERS:

Lloyds Bank

PO BOX 1000

Andover

BX1 1LT

FIXED ASSETS

Investment property

4

255,300

255,300

CURRENT ASSETS

Debtors

5

32,919

26,464

Cash at bank

254,726

310,481

287,645

336,945

CREDITORS

Amounts falling due within one year

6

68,956

72,398

NET CURRENT ASSETS

218,689

264,547

TOTAL ASSETS LESS CURRENT LIABILITIES

473,989

519,847

PROVISIONS FOR LIABILITIES

7

41,815

31,779

NET ASSETS

432,174

488,068

CAPITAL AND RESERVES

Called up share capital

8

171,370

171,370

Fair value reserve

125,445

135,481

Retained earnings

135,359

181,217

SHAREHOLDERS' FUNDS

432,174

488,068

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 29 October 2025 and were signed on its behalf by:

M L Bygraves - Director

A E Bygraves - Director

1.	STATUTORY INFORMATION

Akwood Property Co.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.

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.

Investment property

Investment property relates to various parcels of land held for long term investment and are included in the balance sheet at their open market values. The surplus or deficit on revaluation in the year are are transferred to the fair value reserve.

Depreciation is not provided in respect of land.

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 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.

Other income

Income from fixed asset investments comprises rents receivable from land which is invoiced in advance and recognised when it falls due.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 5 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2024

and 28 February 2025

255,300

NET BOOK VALUE

At 28 February 2025

255,300

At 29 February 2024

255,300

Included in fair value of investment property is freehold land of £ 255,300 (2024 - £ 255,300 ) which is not depreciated.

At 28 February 2025 the directors have valued the land at £255,300.

The investment property consists of freehold land held for development covering two separate areas, known as 'North' and 'East'. All of the company's property in each area is subject to a (separate) agreement with a consortium of neighbouring landowners. Those agreements include various restrictions, including a restriction on the company's ability to sell on the open market, and they entitle all the consortium landowners to a share of any proceeds from any future sale (once planning permission has been obtained) of consortium land to a developer, such shares being based on the proportion of land each landowner has contributed to the consortium. Each consortium agreement, and the restrictions and sharing obligations, expire after a fixed duration (although this may be extended by agreement).

The company has a 34.6% interest in the North consortium arising from its contribution of 35 acres of the consortium's 102 acres. To date, no North consortium land has been sold for development. Approximately 40 acres of consortium land has been identified in the Local Authority's Local Plan as suitable for housing development, known as 'Allocated Land'. The consortium has made two planning applications in respect of the Allocated Land: the first was refused in August 2023; the second, which includes a second access road, was granted planning consent in December 2024, provided a section 106 Agreement (containing various financial contributions from the scheme) was signed with the Local Authority which at 28 February 2025 remains outstanding . Given the economic uncertainties, the lack of planning consent and therefore the distant prospect of the land being sold to a developer for housing, the directors have based the fair value of the company's interests in the North consortium land area, as at the year end, on agricultural use and at the rate of £6,800 per acre equating to £693,600 for the consortium land, equivalent to £240,000 for the company's North interest.

The company has a 33.9% interest in the East consortium arising from its contribution of 57.7 acres of the consortium's 169.9 acres. To date, all but 6.64 acres (area confirmed in 2022 survey) of the East consortium land have been sold for development. This area is landlocked, surrounded by recent development and other undeveloped land owned by third parties with whom there is no consortium agreement, and requires planning approval. Some of the third party land is owned by a developer, who also controls the access routes, meaning there is only one likely buyer. Given these issues, the directors have based the fair value of the company's interests in the East consortium land area, as at the year end, on agricultural use and at the rate of £6,800 per acre equating to £45,152 for the consortium land, equivalent to £15, 300 for the company's East interest.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Other debtors

32,919

26,464

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Trade creditors

-

5,439

Taxation and social security

-

18,709

Other creditors

68,956

48,250

68,956

72,398

7.	PROVISIONS FOR LIABILITIES

28.2.25

29.2.24

£

£

Deferred tax

41,815

31,779

Deferred

tax

£

Balance at 1 March 2024

31,779

Movement on revaluation

10,036

Balance at 28 February 2025

41,815

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.25

29.2.24

value:

£

£

171,370

Ordinary £1

1

171,370

171,370

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Clive Noel (Senior Statutory Auditor)

for and on behalf of BN Audit Services Limited (Statutory Auditors)