Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2022-03-01falseproperty rental33true 11803099 2022-03-01 2023-02-28 11803099 2021-03-01 2022-02-28 11803099 2023-02-28 11803099 2022-02-28 11803099 c:Director1 2022-03-01 2023-02-28 11803099 d:Buildings 2022-03-01 2023-02-28 11803099 d:Buildings 2023-02-28 11803099 d:Buildings 2022-02-28 11803099 d:Buildings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 11803099 d:LandBuildings 2023-02-28 11803099 d:LandBuildings 2022-02-28 11803099 d:PlantMachinery 2022-03-01 2023-02-28 11803099 d:PlantMachinery 2023-02-28 11803099 d:PlantMachinery 2022-02-28 11803099 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 11803099 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 11803099 d:CurrentFinancialInstruments 2023-02-28 11803099 d:CurrentFinancialInstruments 2022-02-28 11803099 d:Non-currentFinancialInstruments 2023-02-28 11803099 d:Non-currentFinancialInstruments 2022-02-28 11803099 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 11803099 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 11803099 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 11803099 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 11803099 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 11803099 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-02-28 11803099 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 11803099 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-02-28 11803099 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-02-28 11803099 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-02-28 11803099 d:ShareCapital 2023-02-28 11803099 d:ShareCapital 2022-02-28 11803099 d:RetainedEarningsAccumulatedLosses 2023-02-28 11803099 d:RetainedEarningsAccumulatedLosses 2022-02-28 11803099 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-02-28 11803099 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-02-28 11803099 d:TaxLossesCarry-forwardsDeferredTax 2023-02-28 11803099 d:TaxLossesCarry-forwardsDeferredTax 2022-02-28 11803099 d:OtherDeferredTax 2023-02-28 11803099 d:OtherDeferredTax 2022-02-28 11803099 c:FRS102 2022-03-01 2023-02-28 11803099 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 11803099 c:FullAccounts 2022-03-01 2023-02-28 11803099 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registered number: 11803099









NEPTUNE HOMES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
NEPTUNE HOMES LIMITED
REGISTERED NUMBER: 11803099

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,102,170
433,946

  
1,102,170
433,946

Current assets
  

Stocks
  
-
509,363

Debtors: amounts falling due within one year
 5 
238
416

Cash at bank and in hand
 6 
2,262
7,466

  
2,500
517,245

Creditors: amounts falling due within one year
 7 
(329,912)
(329,730)

Net current (liabilities)/assets
  
 
 
(327,412)
 
 
187,515

Total assets less current liabilities
  
774,758
621,461

Creditors: amounts falling due after more than one year
 8 
(723,485)
(725,896)

Provisions for liabilities
  

Deferred tax
  
(8,339)
-

  
 
 
(8,339)
 
 
-

Net assets/(liabilities)
  
42,934
(104,435)


Capital and reserves
  

Called up share capital 
  
3
3

Profit and loss account
  
42,931
(104,438)

  
42,934
(104,435)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Page 1

 
NEPTUNE HOMES LIMITED
REGISTERED NUMBER: 11803099
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 November 2023.




S A Brown
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
NEPTUNE HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Neptune Homes Limited is a private company, limited by shares. The company is registered in England and Wales and it's Registered Office address is Old Oaks, Eastworth Road, Verwood, Dorset, BH31 7PU. The principal activity in the year was property rental. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
NEPTUNE HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a variety of bases.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line basis
Plant and machinery
-
25%
reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
NEPTUNE HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

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.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term 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.

 
2.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 5

 
NEPTUNE HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Tangible fixed assets





Freehold land and property
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 March 2022
426,551
17,156
443,707


Additions
509,364
-
509,364


Disposals
-
(10,668)
(10,668)


Revaluations
164,085
-
164,085



At 28 February 2023

1,100,000
6,488
1,106,488



Depreciation


At 1 March 2022
-
9,761
9,761


Charge for the year on owned assets
-
724
724


Disposals
-
(6,167)
(6,167)



At 28 February 2023

-
4,318
4,318



Net book value



At 28 February 2023
1,100,000
2,170
1,102,170



At 28 February 2022
426,551
7,395
433,946




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Freehold
1,100,000
426,551

1,100,000
426,551



5.


Debtors

2023
2022
£
£


Other debtors
-
220

Prepayments and accrued income
238
196
Page 6

 
NEPTUNE HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.Debtors (continued)


238
416



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
2,262
7,466

2,262
7,466



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
12,050
12,050

Other creditors
315,255
315,255

Accruals and deferred income
2,607
2,425

329,912
329,730



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
723,485
725,896

723,485
725,896


Page 7

 
NEPTUNE HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
12,050
12,050


12,050
12,050

Amounts falling due 1-2 years

Bank loans
12,050
12,050


12,050
12,050

Amounts falling due 2-5 years

Bank loans
21,992
24,407


21,992
24,407

Amounts falling due after more than 5 years

Bank loans
689,443
689,439

689,443
689,439

735,535
737,946



10.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
2,262
7,466




Financial assets measured at fair value through profit or loss comprise cash at bank.


11.


Deferred taxation

Page 8

 
NEPTUNE HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
 
11.Deferred taxation (continued)




2023


£






Charged to profit or loss
(8,339)



At end of year
(8,339)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Tax losses carried forward
22,837
-

Revluation of property
(31,176)
-

(8,339)
-

 
Page 9