NOTES TO THE FINAL ACCOUNTS for the year ended 31 March 2022

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 investment in residential property. All the Group’s non-current assets and current property assets are located in the UK.

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. OTHER INCOME

3. LOSS FOR THE YEAR

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

4. EMPLOYEES AND DIRECTORS’ REMUNERATION

Staff costs during the year were as follows:

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

Key management are the Group’s directors. Remuneration in respect of key management was as follows:

There are retirement benefits accruing to Mr C C Johnson for whom a company contribution was paid during the year of £18,000. (2019: £18,000), Mr A Johnson £1,800 (2019: £1,350), and Mr G Thorneycroft £270 (2021: nil).

Consultancy fees of £2,5050 (2019: £9,998) were paid to Mr N Lott during the year.

5. 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 (2021: £18,687) has been accounted for in the profit & loss within cost of sales. Total interest in the year of £171,714 (2021: £214,260) has been paid and accrued on general funding loans, loan notes and on rental property mortgage loan. Further details are provided in notes 15 and 17.

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No other income was received in the year, (2021: £27,023 being furlough sums claimed for one employee and local government grant received).

6. TAXATION