North Essex Homes Limited 14380633 false 2022-09-27 2023-03-31 2023-03-31 The principal activity of the company is development of building projects. Digita Accounts Production Advanced 6.30.9574.0 true false false true 14380633 2022-09-27 2023-03-31 14380633 2023-03-31 14380633 core:RetainedEarningsAccumulatedLosses 2023-03-31 14380633 core:ShareCapital 2023-03-31 14380633 core:CurrentFinancialInstruments 2023-03-31 14380633 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 14380633 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 14380633 core:AdditionsToInvestments 2023-03-31 14380633 core:CostValuation 2023-03-31 14380633 bus:SmallEntities 2022-09-27 2023-03-31 14380633 bus:AuditExemptWithAccountantsReport 2022-09-27 2023-03-31 14380633 bus:FullAccounts 2022-09-27 2023-03-31 14380633 bus:SmallCompaniesRegimeForAccounts 2022-09-27 2023-03-31 14380633 bus:RegisteredOffice 2022-09-27 2023-03-31 14380633 bus:Director4 2022-09-27 2023-03-31 14380633 bus:PrivateLimitedCompanyLtd 2022-09-27 2023-03-31 14380633 core:RetainedEarningsAccumulatedLosses 2022-09-27 2023-03-31 14380633 core:ShareCapital 2022-09-27 2023-03-31 14380633 1 2022-09-27 2023-03-31 14380633 countries:EnglandWales 2022-09-27 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 14380633

North Essex Homes Limited

Unaudited Financial Statements

for the Period from 27 September 2022 to 31 March 2023

 

North Essex Homes Limited

Contents

Balance Sheet

1

Statement of Changes in Equity

2

Notes to the Unaudited Financial Statements

3 to 6

 

North Essex Homes Limited

(Registration number: 14380633)
Balance Sheet as at 31 March 2023

Note

2023
£

Fixed assets

 

Investments

4

5

Current assets

 

Debtors (including £2,995,898 due after one year)

5

4,331,057

Creditors: Amounts falling due within one year

6

(4,346,745)

Net current liabilities

 

(15,688)

Total assets less current liabilities

 

(15,683)

Creditors: Amounts falling due after more than one year

6

(1)

Net liabilities

 

(15,684)

Capital and reserves

 

Called up share capital

100

Retained earnings

(15,784)

Shareholders' deficit

 

(15,684)

For the financial period 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 November 2023 and signed on its behalf by:
 

.........................................
Ms JE Ismail
Director

 

North Essex Homes Limited

Statement of Changes in Equity for the Period from 27 September 2022 to 31 March 2023

Share capital
£

Retained earnings
£

Total
£

Loss for the period

-

(15,784)

(15,784)

New share capital subscribed

100

-

100

At 31 March 2023

100

(15,784)

(15,684)

 

North Essex Homes Limited

Notes to the Unaudited Financial Statements for the Period from 27 September 2022 to 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 3 Birchwood One Business Park Dewhurst Road
Birchwood
Warrington
WA3 7GB
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by its parent companies. The directors consider that these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.

 

North Essex Homes Limited

Notes to the Unaudited Financial Statements for the Period from 27 September 2022 to 31 March 2023

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 4.

4

Investments

2023
£

Investments in subsidiaries

5

Subsidiaries

£

Cost or valuation

Additions

5

At 31 March 2023

5

Carrying amount

At 31 March 2023

5

 

North Essex Homes Limited

Notes to the Unaudited Financial Statements for the Period from 27 September 2022 to 31 March 2023

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the group holds 20% or more of the nominal value of any class of share capital are as follows:

Proportion of voting rights

Undertaking

Holding

and shares held

Subsidiary Undertaking

2023

Principal Activity

North Essex Homes Construction Limited

Ordinary

100%

Development of building projects

North Essex Homes SPV 3 Limited

Ordinary

100%

Development of building projects

North Essex Homes SPV 4 Limited

Ordinary

100%

Development of building projects

North Essex Homes SPV 5 Limited

Ordinary

100%

Development of building projects

North Essex Homes SPV 6 Limited

Ordinary

100%

Development of building projects

All companies listed above hold the registered office of:
3 Dewhurst Road
Birchwood
Warrington
England
WA3 7GB
England and Wales

5

Debtors

2023
£

Owed by group undertakings

4,213,777

Other debtors

 

117,280

   

4,331,057

Details of non-current trade and other debtors

£2,995,898 of 'Owed by group undertakings' is classified as non current.

 

North Essex Homes Limited

Notes to the Unaudited Financial Statements for the Period from 27 September 2022 to 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Accruals and deferred income

132,872

Owed to related parties

4,213,873

4,346,745

Included within Owed to related parties is £4,213,873 in relation to a loan which is secured by a first legal mortgage dated 5 December 2022, 31 March 2022 and 31 May 2023 by Salboy Partnerships Limited, securing any monies due to them.

The legal mortgages created a fixed and floating charge over the company’s freehold or leasehold property as well as the properties known as ‘the property at 39a Alexandra Road, SS3 0HN’ owned by North Essex Homes SPV 3 Limited, ‘Heath Lodge, Clacton Road, CO16 9EF’ which is owned by North Essex Homes SPV 4 Limited, and ‘land on the west side of Edward Street, Harwich’ which is owned by North Essex Homes SPV 5 Limited. As well as the above, a floating charge over all the property or undertakings of the company.

Creditors: amounts falling due after more than one year

2023
£

Due after one year

Owed to group undertakings

1

7

Parent and ultimate parent undertaking

The immediate parent companies are Salboy Partnerships Limited and G&S Properties Limited who both own 50% of the shareholding in North Essex Homes Limited. There is no ultimate parent company of North Essex Homes Limited.

Salboy Partnerships Limited is a company incorporated in England and Wales, company number 13626842, registered office 3 Birchwood One Business Park, Dewhurst Road, Birchwood, Warrington, WA3 7PQ.

G&S Properties Limited is a company incorporated in England and Wales, company number 11480956, registered office Office 5 & 6 The Factory High Street, Thorpe-Le-Soken, Clacton-On-Sea, CO16 0EA.