Registered number
10538719
LEYTON HOMES LTD
Filleted Accounts
30 September 2022
LEYTON HOMES LTD
Registered number: 10538719
Balance Sheet
as at 30 September 2022
Notes 2022 2021
£ £
Current assets
Stocks 680,000 187,883
Debtors 4 276,021 180,799
Cash at bank and in hand 11,950 863
967,971 369,545
Creditors: amounts falling due within one year 5 (375,514) (591,547)
Net current assets/(liabilities) 592,457 (222,002)
Total assets less current liabilities 592,457 (222,002)
Creditors: amounts falling due after more than one year 6 (632,469) (904,491)
Net liabilities (40,012) (1,126,493)
Capital and reserves
Called up share capital 100 100
Share premium 421,994 421,994
Revaluation reserve 8 680,000 -
Profit and loss account (1,142,106) (1,548,587)
Shareholders' funds (40,012) (1,126,493)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jamal Rana
Director
Approved by the board on 30 September 2023
LEYTON HOMES LTD
Notes to the Accounts
for the period from 1 December 2021 to 30 September 2022
1 Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 25% straight line
Fixtures, fittings, tools and equipment 25% straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks and work in progress relate to development properties unsold at the balance sheet date and are valued at the lower of cost and net relisable value. Cost includes all direct costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Finance Costs
Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
3 Employees 2022 2021
Number Number
Average number of persons employed by the company 0 1
4 Debtors 2022 2021
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 252,357 101,877
Prepayments and accrued income 515 515
Other debtors 23,149 78,407
276,021 180,799
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 1,286 1,286
Amounts owed to group undertakings and undertakings in which the company has a participating interest 700 14,094
Director's current account 373,528 576,167
375,514 591,547
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 337,375 300,599
Other creditors 295,094 603,892
632,469 904,491
7 Loans 2022 2021
£ £
Creditors include:
Secured bank loans 1,344,121 1,344,121
Bank loans are secured over the stock and Work in Progress that the company holds on it's balance sheet.
8 Revaluation reserve 2022 2021
£ £
Deferred taxation arising on the revaluation of land and buildings 680,000 -
At 30 September 2022 680,000 -
9 Reclassification and comparative figures
Certain reclassifications have been made to the prior year’s financial statements to enhance comparability with the current year’s financial statements. As a result, certain line items have been amended in the statement of financial position, statement of profit or loss and other comprehensive income, statement of changes in equity and statements of cash flow, and the related notes to the financial statements. Comparative figures have been adjusted to conform to the current year’s presentation.
10 Other information
LEYTON HOMES LTD is a private company limited by shares and incorporated in England. Its registered office is:
Hilux Birmingham
307 Walsall Road
Birmingham
B42 1UH
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