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REGISTERED NUMBER: 04231109 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

PRIMROSE HOMES LIMITED

PRIMROSE HOMES LIMITED (REGISTERED NUMBER: 04231109)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRIMROSE HOMES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr MW Preece
Mrs C Preece





REGISTERED OFFICE: 220 Station Road
Glenfield
Leicester
Leicestershire
LE3 8GT





REGISTERED NUMBER: 04231109 (England and Wales)

PRIMROSE HOMES LIMITED (REGISTERED NUMBER: 04231109)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 152 179
Investments 5 520,000 520,000
520,152 520,179

CURRENT ASSETS
Debtors 6 550 550
Cash at bank 2,809 1,963
3,359 2,513
CREDITORS
Amounts falling due within one year 7 103,750 110,410
NET CURRENT LIABILITIES (100,391 ) (107,897 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

419,761

412,282

CREDITORS
Amounts falling due after more than one
year

8

(62,329

)

(69,748

)

PROVISIONS FOR LIABILITIES (44,174 ) (44,179 )
NET ASSETS 313,258 298,355

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 252,342 252,342
Retained earnings 60,816 45,913
SHAREHOLDERS' FUNDS 313,258 298,355

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.

PRIMROSE HOMES LIMITED (REGISTERED NUMBER: 04231109)

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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2023 and were signed on its behalf by:




Mr MW Preece - Director



Mrs C Preece - Director


PRIMROSE HOMES LIMITED (REGISTERED NUMBER: 04231109)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Primrose 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.

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


2. ACCOUNTING POLICIES

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Investment properties
In accordance with Statement of Standard Accounting Practice No. 19, the company's properties are held for long-term investment and are included in the Balance Sheet at open market value. The surplus or deficit on annual revaluation of the properties is transferred to the investment property revaluation reserve. Depreciation is not provided in respect of freehold investment properties.

This policy represents a departure from statutory accounting principles, which require depreciation to be provided on all fixed assets. The director considers this policy is necessary in order that the Financial Statements may give a true and fair view because current values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation. The amount of depreciation which might otherwise have been shown cannot be separately identified or quantified.

PRIMROSE HOMES LIMITED (REGISTERED NUMBER: 04231109)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2022
and 31 March 2023 4,858
DEPRECIATION
At 1 April 2022 4,679
Charge for year 27
At 31 March 2023 4,706
NET BOOK VALUE
At 31 March 2023 152
At 31 March 2022 179

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2022
and 31 March 2023 520,000
NET BOOK VALUE
At 31 March 2023 520,000
At 31 March 2022 520,000

PRIMROSE HOMES LIMITED (REGISTERED NUMBER: 04231109)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 March 2023 is represented by:

Other
investments
£   
Valuation in 2017 520,000

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 267,658 267,658

Investment properties were valued on an open market basis on 31 March 2023 by Mr MW Preece, director .

Mr MW Preece confirmed that there were no material movements and therefore the valuation as at the 31 March 2023 is materially correct.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 550 550

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,769 6,120
Taxation 17,405 25,295
VAT 4,789 4,828
Other creditors 18,005 18,005
Directors' loan accounts 54,617 54,617
Accrued expenses 2,165 1,545
103,750 110,410

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 6,769 6,120
Bank loans - 2-5 years 20,306 18,359
Bank loans more than 5 years
by instalment 35,254 45,269
62,329 69,748

PRIMROSE HOMES LIMITED (REGISTERED NUMBER: 04231109)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years
by instalment 35,254 45,269
35,254 45,269

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 69,098 75,868

10. RESERVES
Revaluation
reserve
£   
At 1 April 2022
and 31 March 2023 252,342