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Registration number: 12369927

EBMC Homes Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

EBMC Homes Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

EBMC Homes Ltd

Company Information

Directors

Ms M Cowan

EA Bulley

Registered office

Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

Accountants

Boon and Worth Limited
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

 

EBMC Homes Ltd

(Registration number: 12369927)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Investment property

4

188,208

-

Current assets

 

Debtors

5

161

-

Cash at bank and in hand

 

5,489

2

 

5,650

2

Creditors: Amounts falling due within one year

6

(92,768)

-

Net current (liabilities)/assets

 

(87,118)

2

Total assets less current liabilities

 

101,090

2

Creditors: Amounts falling due after more than one year

6

(129,901)

-

Net (liabilities)/assets

 

(28,811)

2

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

(28,813)

-

Shareholders' (deficit)/funds

 

(28,811)

2

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 31 August 2022 and signed on its behalf by:
 

.........................................
EA Bulley
Director

 

EBMC Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS
England

These financial statements were authorised for issue by the Board on 31 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company is reliant upon the directors for financial support. The directors have confirmed their continued support for the company.

The Director is confident that the company will generate profit in the future and they will provide financial support to the company to enable it to continue trading for teh foreseeable future, and has therefore prepared the accounts on going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

EBMC Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2020 - 2).

 

EBMC Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

4

Investment properties

2021
£

Additions

188,208

At 31 December

188,208

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2021
£

2020
£

Other debtors

161

-

6

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Loans and borrowings

8

25,000

-

Accruals and deferred income

 

1,579

-

Other creditors

 

66,189

-

 

92,768

-

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

8

129,901

-

7

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary share of £1 each

2

2

2

2

         
 

EBMC Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

8

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Other borrowings

129,901

-

2021
£

2020
£

Current loans and borrowings

Bank borrowings

25,000

-

9

Related party transactions

Transactions with directors

2021

At 1 January 2021
£

Advances to director
£

Repayments by director
£

At 31 December 2021
£

-

813

(67,001)

(66,188)