Contents of the Financial Statements

for the Period Ended 31 March 2025

Directors' report period ended 31 March 2025

The directors present their report with the financial statements of the company for the period ended 31 March 2025

Directors

The directors shown below have held office during the whole of the period from
1 April 2024 to 31 March 2025

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
14 November 2025

And signed on behalf of the board by:
Name: Celine Donnelly
Status: Director

Profit And Loss Account

for the Period Ended 31 March 2025

Balance sheet

As at 31 March 2025

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 March 2025 the company was entitled to exemption 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 directors acknowledge 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 March 2025

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Turnover represents income derived from the company’s principal activity of developing a retirement village in Blackburn. Turnover represents the sales value of property units sold within the retirement village, excluding Value Added Tax. All property sales are on long leases and are recognised at the point of exchange.

  Other accounting policies

  2.5 Other operating income Other operating income represents income from properties, and the write-off of part of the loan from the Congregation of the Sisters of Nazareth Generalate. 2.6 Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the company to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. Expenditure comprises the direct costs associated with the delivery of the company’s services as well as general administrative support costs. 2.7 Stocks and work in progress Stocks and work in progress represent land and buildings under development and buy- back properties. Work in progress is valued at the lower of cost and net realisable value. The land and building costs comprise the cost of the land, materials, directly attributable interest and other services related to the development and construction of properties. Under the terms on which NRV Development (Blackburn) Limited sells apartments within the retirement village, should the purchaser for any reason wish to vacate the property at any time and not sell it on the open market, NRV Development (Blackburn) Limited undertakes to buy back the unit. This option was removed for sales completed after September 2013. It was calculated that the maximum liability to NRV Development (Blackburn) Limited in the event that several leaseholders simultaneously exercise the buy back option would be £750,000. Should NRV Development (Blackburn) Limited not have sufficient funds to meet this liability, The Congregation of the Sisters of Nazareth Charitable Trust has agreed to meet any shortfall. 2.8 Debtors Debtors are recognised at their settlement amount, less any provision for non- recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material. 2.9 Cash at bank and in hand Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. 2.10 Creditors and provisions Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the company anticipates it will pay to settle the debt.

Notes to the Financial Statements

for the Period Ended 31 March 2025

• 2. Employees

  	2025	2024
  Average number of employees during the period	0	0