Registered number
SC202417
CBC HOMES LIMITED
Filleted Accounts
31 December 2022
CBC HOMES LIMITED
Registered number: SC202417
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 2 490,000 490,000
Current assets
Debtors 3 40,784 85,750
Cash at bank and in hand 36,215 5,066
76,999 90,816
Creditors: amounts falling due within one year 4 (92,950) (117,723)
Net current liabilities (15,951) (26,907)
Total assets less current liabilities 474,049 463,093
Creditors: amounts falling due after more than one year 5 (174,431) (167,294)
Net assets 299,618 295,799
Capital and reserves
Called up share capital 2 2
Profit and loss account 299,616 295,797
Shareholder's funds 299,618 295,799
Average number of employees - -
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 member has 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.
Douglas Campbell
Director
Approved by the board on 1 November 2023
CBC HOMES LIMITED
Notes to the Accounts
for the year ended 31 December 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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.
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
Plant and machinery over 5 years
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.
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.
2 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2022 490,000 344 490,344
At 31 December 2022 490,000 344 490,344
Depreciation
At 1 January 2022 - 344 344
At 31 December 2022 - 344 344
Net book value
At 31 December 2022 490,000 - 490,000
At 31 December 2021 490,000 - 490,000
3 Debtors 2022 2021
£ £
Other debtors 40,784 85,750
4 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts - 7,137
Corporation tax 2,503 3,858
Other creditors 90,447 106,728
92,950 117,723
5 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 174,431 167,294
6 Other information
CBC HOMES LIMITED is a private company limited by shares and incorporated in Scotland. Its registered office is:
13 Anderson Green
Livingston
West Lothian
EH54 8PW
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