9 false false false true false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 1,200 1,200 1,200 xbrli:pure xbrli:shares iso4217:GBP 05797325 2022-04-01 2023-03-31 05797325 2023-03-31 05797325 2021-04-01 2022-03-31 05797325 2022-03-31 05797325 core:Subsidiary1 2022-04-01 2023-03-31 05797325 bus:Director2 2022-04-01 2023-03-31 05797325 core:WithinOneYear 2023-03-31 05797325 core:WithinOneYear 2022-03-31 05797325 core:ShareCapital 2023-03-31 05797325 core:ShareCapital 2022-03-31 05797325 core:RetainedEarningsAccumulatedLosses 2023-03-31 05797325 core:RetainedEarningsAccumulatedLosses 2022-03-31 05797325 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 05797325 core:Non-currentFinancialInstruments 2023-03-31 05797325 core:Non-currentFinancialInstruments 2022-03-31 05797325 bus:SmallEntities 2022-04-01 2023-03-31 05797325 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 05797325 bus:FullAccounts 2022-04-01 2023-03-31 05797325 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 05797325 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31
COMPANY REGISTRATION NUMBER: 05797325
Byron Homes (Developments) Limited
Filleted Unaudited Financial Statements
31 March 2023
Byron Homes (Developments) Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
Fixed Assets
Investments
5
1,200
1,200
Current Assets
Debtors
6
2,679,597
2,118,570
Cash at bank and in hand
186,017
50,815
--------------
--------------
2,865,614
2,169,385
Creditors: amounts falling due within one year
7
194,251
111,884
--------------
--------------
Net Current Assets
2,671,363
2,057,501
--------------
--------------
Total Assets Less Current Liabilities
2,672,563
2,058,701
--------------
--------------
Net Assets
2,672,563
2,058,701
--------------
--------------
Capital and Reserves
Called up share capital
1,200
1,200
Profit and loss account
2,671,363
2,057,501
--------------
--------------
Shareholders Funds
2,672,563
2,058,701
--------------
--------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Byron Homes (Developments) Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 23 October 2023 , and are signed on behalf of the board by:
S Lenagh
Director
Company registration number: 05797325
Byron Homes (Developments) Limited
Notes to the Financial Statements
Year Ended 31 March 2023
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 22 Eldon Business Park, Eldon Road, Attenborough, Beeston, Nottingham, NG9 6DZ.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue Recognition
The turnover shown in the profit and loss account represents management charges invoiced during the period.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Financial Instruments
Cash and cash equivalents Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Debtors and creditors receivable / payable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit or loss account. The company has only financial assets and financial liabilities of a kind that qualify as a basic financial instruments. Basic financial instruments are recognised initially at transaction value and subsequently measured at their settlement value.
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 9 (2022: 8 ).
5. Investments
Shares in group undertakings
£
Cost
At 1 April 2022 and 31 March 2023
1,200
--------
Impairment
At 1 April 2022 and 31 March 2023
--------
Carrying amount
At 31 March 2023
1,200
--------
At 31 March 2022
1,200
--------
Subsidiaries, associates and other investments
Class of share
Percentage of shares held
Subsidiary undertakings
Clayton Lenagh Brickwork Limited
Ordinary
100
The results and capital and reserves for the year are as follows:
Capital and reserves
Profit/(loss) for the year
2023
2022
2023
2022
£
£
£
£
Subsidiary undertakings
Clayton Lenagh Brickwork Limited
677,949
550,039
927,910
825,365
-----------
-----------
-----------
-----------
6. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
2,667,033
1,929,085
Other debtors
12,564
189,485
--------------
--------------
2,679,597
2,118,570
--------------
--------------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,277
Corporation tax
85,929
65,972
Social security and other taxes
8,831
10,578
Other creditors
99,491
33,057
-----------
-----------
194,251
111,884
-----------
-----------
8. Directors' Advances, Credits and Guarantees
During the year the company made advances of £140,377 to a director and after repayments of £230,000 and interest paid of £1,115 charged at 2.25% on average advances £5,861(2022:£94,369) was owed to the company. During the year the company made advances of £140,835 to a second director and after repayments of £230,000 and interest paid of £1,129 charged at 2.25% on average advances,£6,702 (2022:£94,738) was owed to the company.