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REGISTERED NUMBER: 11683933 (England and Wales)



















Financial Statements

for the Year Ended 31 December 2021

for

Chevin Homes (Derby) Limited

Chevin Homes (Derby) Limited (Registered number: 11683933)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Chevin Homes (Derby) Limited

Company Information
for the Year Ended 31 December 2021







DIRECTORS: J D Fearnehough
J D Cokayne
D P Stack





REGISTERED OFFICE: 44 Friar Gate
Derby
DE1 1DA





REGISTERED NUMBER: 11683933 (England and Wales)





AUDITORS: Bates Weston Audit Ltd
Statutory Auditors
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

Chevin Homes (Derby) Limited (Registered number: 11683933)

Balance Sheet
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,242 24,322

CURRENT ASSETS
Stocks 9,018,404 4,524,960
Debtors 5 470,830 399,143
Cash at bank and in hand 4,499 72,202
9,493,733 4,996,305
CREDITORS
Amounts falling due within one year 6 8,930,347 4,627,732
NET CURRENT ASSETS 563,386 368,573
TOTAL ASSETS LESS CURRENT
LIABILITIES

581,628

392,895

CREDITORS
Amounts falling due after more than one
year

7

39,680

73,353
NET ASSETS 541,948 319,542

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 541,848 319,442
541,948 319,542

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2022 and were signed on its behalf by:





J D Fearnehough - Director


Chevin Homes (Derby) Limited (Registered number: 11683933)

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

1. STATUTORY INFORMATION

Chevin Homes (Derby) 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.

Turnover
Turnover represents the invoiced value of completed property sales, excluding value added tax. Turnover is recognised on the completion date of the property sale.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on cost

Stocks and work in progress
Stocks and work in progress are valued at the lower of cost and net realisable value. Cost represents the purchase price in addition to any legal fees and refurbishment costs. Net realisable value is based on the estimated selling price less further costs expected to be incurred in completion and disposal.

At each reporting date, stock and work in progress is assessed for expected losses. If a loss is expected then the loss is recognised in full immediately in the Profit and Loss Account.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Related parties
The company is a majority owned subsidiary of Chevin Group Holdings Limited. The company has taken advantage of the exemption contained within the Financial Reporting Standard and has therefore not disclosed transactions with entities which form part of the group, other than as normally disclosed in the notes to the financial statements.

Grants
Revenue grants are recognised in the profit and loss account so as to match them with the expenditure towards which they are intended to contribute.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2020 - 9 ) .

Chevin Homes (Derby) Limited (Registered number: 11683933)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 January 2021
and 31 December 2021 29,935
DEPRECIATION
At 1 January 2021 5,613
Charge for year 6,080
At 31 December 2021 11,693
NET BOOK VALUE
At 31 December 2021 18,242
At 31 December 2020 24,322

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 30 -
Amounts owed by group undertakings 389,569 365,589
Other debtors 56,742 22,214
Owed by related parties - 3,840
Prepayments 24,489 7,500
470,830 399,143

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 9,566 2,500
Other loans 7,878,277 3,840,157
Hire purchase contracts (see note 8) 8,057 7,085
Trade creditors 330,566 39,886
Amounts owed to group undertakings - 322,241
Tax 74,349 64,109
Social security and other taxes 8,815 7,806
Accruals and deferred income 620,717 343,948
8,930,347 4,627,732

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans - 1-2 years 9,808 10,000
Bank loans - 2-5 years 28,271 30,000
Bank loans more 5 yr by instalments - 7,500
Hire purchase contracts (see note 8) 1,601 9,869
Accruals and deferred income - 15,984
39,680 73,353

Chevin Homes (Derby) Limited (Registered number: 11683933)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2021 2020
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instalments - 7,500

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2021 2020
£    £   
Net obligations repayable:
Within one year 8,057 7,085
Between one and five years 1,601 9,869
9,658 16,954

Non-cancellable operating leases
2021 2020
£    £   
Within one year 30,000 30,000
Between one and five years - 30,000
30,000 60,000

9. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Other loans 5,920,000 3,150,000
Hire purchase 9,657 16,954
5,929,657 3,166,954

Other loans are secured against the trading stock of the company.

Hire purchase is secured against the assets to which it relates.

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

The Report of the Auditors was unqualified.

Wayne Thomas (Senior Statutory Auditor)
for and on behalf of Bates Weston Audit Ltd

Chevin Homes (Derby) Limited (Registered number: 11683933)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

11. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Chevin Group Holdings Limited, a company incorporated in England and Wales, which shares the registered office as detailed on page 1. Copies of the consolidated financial statements are available from Companies House.