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REGISTERED NUMBER: 03401539 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

P.A.R. Homes Limited

P.A.R. Homes Limited (Registered number: 03401539)

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










Page

Company Information 1

Abridged Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


P.A.R. Homes Limited

Company Information
for the Year Ended 31 December 2021







DIRECTOR: P A Rowlands





REGISTERED OFFICE: Lower Gaufron Farm
Howey
Llandrindod Wells
Powys
LD1 5RG





REGISTERED NUMBER: 03401539 (England and Wales)





ACCOUNTANTS: A D Accounts Limited
Rural Enterprise Centre
Vincent Carey Road
Rotherwas
Hereford
Herefordshire
HR2 6FE

P.A.R. Homes Limited (Registered number: 03401539)

Abridged Balance Sheet
31 December 2021

2021 2020
Notes £    £   
FIXED ASSETS
Tangible assets 5 1,451,239 2,198,615
Investments 6 1,020 -
Investment property 7 683,653 683,653
2,135,912 2,882,268

CURRENT ASSETS
Stocks 9,125,240 7,743,753
Debtors 641,763 983,747
Cash at bank and in hand 2,081,998 2,128,813
11,849,001 10,856,313
CREDITORS
Amounts falling due within one year (2,209,075 ) (2,882,484 )
NET CURRENT ASSETS 9,639,926 7,973,829
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,775,838

10,856,097

CREDITORS
Amounts falling due after more than one
year

(27,641

)

(39,154

)

PROVISIONS FOR LIABILITIES (296,635 ) (436,726 )
NET ASSETS 11,451,562 10,380,217

CAPITAL AND RESERVES
Called up share capital 9 3,100,000 3,100,000
Retained earnings 10 8,351,562 7,280,217
SHAREHOLDERS' FUNDS 11,451,562 10,380,217

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

P.A.R. Homes Limited (Registered number: 03401539)

Abridged Balance Sheet - continued
31 December 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 director and authorised for issue on 13 September 2022 and were signed by:





P A Rowlands - Director


P.A.R. Homes Limited (Registered number: 03401539)

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


1. STATUTORY INFORMATION

P.A.R. Homes 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for sale of goods and services in the ordinary nature of the business. Turnover is shown net of Value Added Tax, of goods and services provided to customers and, in the case of long term contracts, credit is taken appropriate to the stage of completion when the outcome of the contract can be ascertained with reasonable certainty.

In respect of long term contracts and contracts for ongoing services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long term contracts and contract for ongoing services is recognised by reference to the stage of completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Other assets - 20% on reducing balance and 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement. They are classified as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.


P.A.R. Homes Limited (Registered number: 03401539)

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


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account at a constant rate of charge on the balance of capital repayments outstanding.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2020 - 25 ) .

P.A.R. Homes Limited (Registered number: 03401539)

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


5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2021 3,133,616
Additions 600,042
Disposals (1,534,477 )
At 31 December 2021 2,199,181
DEPRECIATION
At 1 January 2021 935,001
Charge for year 340,538
Eliminated on disposal (527,597 )
At 31 December 2021 747,942
NET BOOK VALUE
At 31 December 2021 1,451,239
At 31 December 2020 2,198,615

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
Additions 1,020
At 31 December 2021 1,020
NET BOOK VALUE
At 31 December 2021 1,020

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2021
and 31 December 2021 683,653
NET BOOK VALUE
At 31 December 2021 683,653
At 31 December 2020 683,653

P.A.R. Homes Limited (Registered number: 03401539)

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


7. INVESTMENT PROPERTY - continued

Fair value at 31 December 2021 is represented by:
£   
Valuation in 2006 510,000
Valuation in 2015 (400,000 )
Cost 573,653
683,653

The investment property was revalued on 31 December 2021 by an employee of the company using knowledge of current market conditions and valuations in similar geographical areas.

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2021 2020
£    £   
Net obligations repayable:
Within one year 39,571 30,188
Between one and five years 27,641 39,154
67,212 69,342

Non-cancellable operating leases
2021 2020
£    £   
Within one year 871 871
Between one and five years 1,200 2,072
2,071 2,943

9. CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
100,000 Ordinary £1 100,000 100,000
3,000,000 Ordinary B £1 3,000,000 3,000,000
3,100,000 3,100,000

P.A.R. Homes Limited (Registered number: 03401539)

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


10. RESERVES
Retained
earnings
£   

At 1 January 2021 7,280,217
Profit for the year 1,071,345
At 31 December 2021 8,351,562

20212020
££

Distributable profit
Distributable profit b/fwd7,191,1176,641,630
Distributable profit for the year1,071,345549.487
Deferred tax movement on investment property--
Distributable profit c/fwd8,262,4627,191,117


Non-distributable profit
Revaluation on investment property b/fwd89,10089,100
Deferred tax movement on investment property--
Revaluation on investment property c/fwd89,10089,100


8,351,5627,280,217

11. RELATED PARTY DISCLOSURES

Mr P A Rowlands, a director and sole shareholder of P.A.R. Homes Limited, has provided a loan to the company during the period. At the year end the amount owed from the company is £266,567 (2020: £396,878).