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REGISTERED NUMBER: 01652366 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

SIDALLS BICESTER LIMITED

SIDALLS BICESTER LIMITED (REGISTERED NUMBER: 01652366)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SIDALLS BICESTER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: J Prpa





SECRETARY: J Leadbeater





REGISTERED OFFICE: Unit 7
Granville Way
Bicester
Oxfordshire
OX26 4JT





REGISTERED NUMBER: 01652366 (England and Wales)





ACCOUNTANTS: Astral Accountancy Services Limited
Astral House
Granville Way
Bicester
Oxfordshire
OX26 4JT

SIDALLS BICESTER LIMITED (REGISTERED NUMBER: 01652366)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,102 17,713
Investment property 5 446,302 446,302
459,404 464,015

CURRENT ASSETS
Stocks 6 751,937 728,787
Debtors 7 109,112 108,996
Cash at bank and in hand 25 42,876
861,074 880,659
CREDITORS
Amounts falling due within one year 8 1,137,918 1,164,449
NET CURRENT LIABILITIES (276,844 ) (283,790 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

182,560

180,225

PROVISIONS FOR LIABILITIES 10 5,530 6,081
NET ASSETS 177,030 174,144

CAPITAL AND RESERVES
Called up share capital 11 600 600
Capital redemption reserve 400 400
Retained earnings 176,030 173,144
SHAREHOLDERS' FUNDS 177,030 174,144

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SIDALLS BICESTER LIMITED (REGISTERED NUMBER: 01652366)

BALANCE SHEET - continued
28 FEBRUARY 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 director and authorised for issue on 27 November 2023 and were signed by:





J Prpa - Director


SIDALLS BICESTER LIMITED (REGISTERED NUMBER: 01652366)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Sidalls Bicester 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.

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.

Significant judgements and estimates
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in the accounting policies below.

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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

Revenue is recognised for the sale of good when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on the dispatch of goods), the amount of revenue can be measured reliably, it is probable that the economic benefit will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold Property - 10% on cost
Plant & Machinery - 25% on reducing balance
Motor Vehicles - 25% on reducing balance
Computer Equipment - 25% on reducing balance

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.

Stocks
Stocks and work in progress (development land) are valued at the lower of cost and net realisable value, after allowing for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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.


SIDALLS BICESTER LIMITED (REGISTERED NUMBER: 01652366)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued
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.

Leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Provisions
Provisions are recognised when the Company has a present obligation as a result of past events, if it is probable that an outflow of funds will be required to settle the obligation and a realisable estimate of the amount and obligation can be made.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Leasehold Plant & Motor Computer
Property Machinery Vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 March 2022
and 28 February 2023 63,450 51,241 80,800 6,778 202,269
DEPRECIATION
At 1 March 2022 63,449 48,696 66,272 6,139 184,556
Charge for year - 636 3,632 343 4,611
At 28 February 2023 63,449 49,332 69,904 6,482 189,167
NET BOOK VALUE
At 28 February 2023 1 1,909 10,896 296 13,102
At 28 February 2022 1 2,545 14,528 639 17,713

SIDALLS BICESTER LIMITED (REGISTERED NUMBER: 01652366)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 446,302
NET BOOK VALUE
At 28 February 2023 446,302
At 28 February 2022 446,302

6. STOCKS
2023 2022
£    £   
Stocks 42,900 39,000
Development land 709,037 689,787
751,937 728,787

Development land comprises the land and building cost and associated acquisition expenditure on sites bought for the development of new and older houses.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade Debtors 104,110 104,595
Prepayments 5,002 4,401
109,112 108,996

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans & overdrafts 317,777 300,000
Other loans 36,464 46,071
Trade Creditors 76,293 66,033
Tax 4,103 21,435
PAYE & Other Taxes 10,002 7,340
Other creditors 1,482 2,617
Related Party Loans 396,268 442,248
Directors' Current Accounts 250,529 233,705
Accruals & Deferred Income 45,000 45,000
1,137,918 1,164,449

SIDALLS BICESTER LIMITED (REGISTERED NUMBER: 01652366)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 17,777 -
Bank loans 300,000 300,000
317,777 300,000

At the balance sheet date, the company's bankers, Svenska Handelsbanken Ab, held a fixed charge over land and property held by the company.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Other provisions
Remedial work provisions 5,530 6,081

Remedial
Work
Provisions
£   
Balance at 1 March 2022 6,081
Provided during year (551 )
Balance at 28 February 2023 5,530

11. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 600 600

SIDALLS BICESTER LIMITED (REGISTERED NUMBER: 01652366)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

12. RELATED PARTY DISCLOSURES

Sidalls (1991) Executive Retirement Benefit Scheme

The directors of the company are also the trustees of the Sidalls (1991) Executive Retirement Benefit Scheme.The company has a loan with the Pension Scheme of £180,000 repayable over 5 years with interest of 3.5% p.a.

The balance on the loan due from the company at 28 February 2023 was £176,230 (2022: £221,810).

The company pays full market rental for the premises they occupy to the Sidalls (1991) Executive Retirement Benefit Scheme based on £65,000 (2022: £65,000) per annum. The rental is not under a formal lease, but on a rolling agreement which is reviewed every 12 months. The rent is a normal commercial transaction.

All transactions with the Sidalls (1991) Executive Retirement Benefit Scheme are at arms length and in accordance with Pension Scheme Office requirements.

Sidalls Limited

The company previously entered into a joint venture arrangement with Sidalls Limited, a company owned and controlled by the directors of Sidalls (Bicester) Limited. The joint venture was to build houses on a development site owned by Sidalls (Bicester) Limited. The project was completed and the Directors took the decision to rent two properties and sell two properties. The management of these activities was undertaken by Sidalls Limited.

During the year, the company invoiced £12,000 (2022: £12,000) in respect of serviced accommodation charges to Sidalls Limited.

During the year, the company paid £7,020 (2022: £6,758) in respect of site management and building charges to Sidalls Limited and £4,930 (2022: £5,568) in respect of property rental services.

As at 28 February 2023 the intercompany loan balance due to Sidalls Limited amounted to £220,039 (2022: £220,438).

All transactions were undertaken at arms length at market rate on normal commercial terms.