NOTES TO THE FINAL ACCOUNTS for the year ended 31 March 2024

1. SEGMENTAL REPORTING

For the purpose of IFRS 8, the chief operating decision maker (“CODM”) takes the form of the Board of Directors. The Directors’ opinion of the business of the Group is as follows.

The principal activity of the Group is that of a regional property developer focused upon Kent, Surrey, Sussex and the M25 ring south of London together with investment in residential property.

Based on the above considerations, the Directors’ consider there to be one reportable geographical segment which is in the UK The internal and external reporting is on a consolidated basis with transactions between Group companies eliminated on consolidation. Therefore, the financial information of the single segment is the same as that set out in the consolidated statement of comprehensive income, the consolidated statement of changes in equity, the consolidated statement of financial position and cashflows. Therefore, no segmental reporting is required.

Revenue

An analysis of revenue is as follows:

The Group’s revenue, which is all attributable to their principal activity, can be split as follows:

2. LOSS FOR THE YEAR

Operating loss is stated after charging /(crediting) the following:

3. EMPLOYEES AND DIRECTORS’ REMUNERATION

Staff costs during the year were as follows:

The average number of employees of the company during the period was:

Directors Remuneration was as follows:

Highest paid director – gross salary including company pension contributions was £61,000 (2023 - £61,800)

There are retirement benefits accruing to Mr C Johnson (director of subsidiary entities) for whom a Company contribution was paid during the year of £16,800 (2023: £18,000), Mr A Johnson (director of subsidiary entities) £1,800(2023: £1,800) and Mr G Thorneycroft £Nil (2023: £1,500).

4. INTEREST PAYABLE AND SIMILAR CHARGES

For sites where the construction had been completed, the bank loan interest paid during the year on these sites of £nil (2023: £920) has been accounted for in the profit & loss within cost of sales. Total interest in the year of £129,333 (2023: £86,451) has been paid and accrued on general funding loans, loan notes and on rental property mortgage loan plus an adjustment for the loan note equity reserve due to the CLN being converted at the year end. Further details are provided in notes 13 and 15.

For Page 2, click HERE

For page 3, click HERE

For page 4, click HERE

For page 5, click HERE

The Group incurred direct operating expenses totalling £3,637 (2023: £8,033) which did not generate any rental income in the year