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REGISTERED NUMBER: 03334500 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Braunton Park Homes (Devon) Ltd

Braunton Park Homes (Devon) Ltd (Registered number: 03334500)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Braunton Park Homes (Devon) Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs H R Jacobs
Mr D J B Jacobs





REGISTERED OFFICE: 69 High Street
Bideford
Devon
EX39 2AT





REGISTERED NUMBER: 03334500 (England and Wales)





ACCOUNTANTS: R T Marke & Co Ltd
Chartered Accountants
69 High Street
Bideford
Devon
EX39 2AT

Braunton Park Homes (Devon) Ltd (Registered number: 03334500)

Abridged Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 464,005 468,397
Investment property 6 565,000 565,000
1,029,005 1,033,397

CURRENT ASSETS
Stocks - 54,038
Debtors 21,612 14,143
Cash at bank 457,694 449,358
479,306 517,539
CREDITORS
Amounts falling due within one year 29,622 57,229
NET CURRENT ASSETS 449,684 460,310
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,478,689

1,493,707

PROVISIONS FOR LIABILITIES 26,558 19,176
NET ASSETS 1,452,131 1,474,531

CAPITAL AND RESERVES
Called up share capital 7 9,100 9,100
Revaluation reserve 8 311,417 311,417
Retained earnings 1,131,614 1,154,014
SHAREHOLDERS' FUNDS 1,452,131 1,474,531

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Braunton Park Homes (Devon) Ltd (Registered number: 03334500)

Abridged Balance Sheet - continued
31 March 2023


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 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 September 2023 and were signed on its behalf by:





Mrs H R Jacobs - Director


Braunton Park Homes (Devon) Ltd (Registered number: 03334500)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Braunton Park Homes (Devon) Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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. There were no material departures from that standard.

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.

The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the previous period, and also have been consistently applied within the same accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Improvements to property - 10% on reducing balance
Computer equipment - 25% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

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.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

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

Financial instruments
Basic financial instruments 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 and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.


Braunton Park Homes (Devon) Ltd (Registered number: 03334500)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Going concern
Having regard to the company's anticipated future revenues and costs including repayment of debt where appropriate, together with the expected availability of working capital, the directors consider that it is appropriate to prepare the financial statements on the going concern basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 April 2022
and 31 March 2023 651,842
DEPRECIATION
At 1 April 2022 183,445
Charge for year 4,392
At 31 March 2023 187,837
NET BOOK VALUE
At 31 March 2023 464,005
At 31 March 2022 468,397

Braunton Park Homes (Devon) Ltd (Registered number: 03334500)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


5. TANGIBLE FIXED ASSETS - continued

Included in cost or valuation of land and buildings is freehold land of £ 425,320 (2022 - £ 425,320 ) which is not depreciated.

Cost or valuation at 31 March 2023 is represented by:

Totals
£   
Valuation in 1997 311,417
Cost 340,425
651,842

If freehold land had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 113,903 113,903

The valuation of freehold land was made on 31 March 1997 at an open market value.

The company has taken advantage of the transitional provisions available on the introduction of FRS 102 to carry those assets at that value less depreciation in subsequent years. Subsequent additions to freehold land are included at cost.


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 565,000
NET BOOK VALUE
At 31 March 2023 565,000
At 31 March 2022 565,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2019 17,123
Valuation in 2021 50,000
Valuation in 2022 50,000
Cost 447,877
565,000

Braunton Park Homes (Devon) Ltd (Registered number: 03334500)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


6. INVESTMENT PROPERTY - continued

If investment property had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 447,877 447,877

Investment property was valued on an open market basis at the balance sheet date.

The investment property is accounted for at fair value on an on-going basis.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
9,000 Ordinary A £1 9,000 9,000
100 Ordinary B £1 100 100
9,100 9,100

8. RESERVES
Revaluation
reserve
£   
At 1 April 2022
and 31 March 2023 311,417

Included in retained earnings is £92,029 (2022 - £99,131) of profits which are not available for distribution as they are unrealised.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mrs H R Jacobs
Balance outstanding at start of year - -
Amounts advanced 3,705 -
Amounts repaid (2,424 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,281 -

The maximum overdrawn balance during the year was £1,281.

The loan was interest free and had no fixed date for repayment.