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Registration number: 12372655

Static Homes Uk Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2022

 

Static Homes Uk Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 8

 

Static Homes Uk Ltd

(Registration number: 12372655)
Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

5

271,142

163,502

Current assets

 

Debtors

6

346,537

206,134

Cash at bank and in hand

 

45,001

44,409

 

391,538

250,543

Creditors: Amounts falling due within one year

7

(442,135)

(332,041)

Net current liabilities

 

(50,597)

(81,498)

Total assets less current liabilities

 

220,545

82,004

Creditors: Amounts falling due after more than one year

7

(185,404)

(93,700)

Provisions for liabilities

(11,239)

-

Net assets/(liabilities)

 

23,902

(11,696)

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

23,901

(11,697)

Shareholders' funds/(deficit)

 

23,902

(11,696)

For the financial year ending 31 December 2022 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 year 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.

Approved and authorised by the Board on 23 December 2023 and signed on its behalf by:
 

.........................................
Miss Chloe Olivia Palmer
Director

 

Static Homes Uk Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

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:
Static Homes Uk Ltd Matford Home Farm
Matford
Exeter
EX2 8XT
England

These financial statements were authorised for issue by the Board on 23 December 2023.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Static Homes Uk Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

25% Reducing Balance

Motor Vehicle

25% Reducing Balance

Office Equipment

25% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Static Homes Uk Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2021 - 12).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2022
£

2021
£

Depreciation expense

90,380

54,504

 

Static Homes Uk Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2022

3,021

119,461

113,556

236,038

Additions

-

138,059

59,962

198,021

At 31 December 2022

3,021

257,520

173,518

434,059

Depreciation

At 1 January 2022

1,091

31,241

40,204

72,536

Charge for the year

482

56,570

33,329

90,381

At 31 December 2022

1,573

87,811

73,533

162,917

Carrying amount

At 31 December 2022

1,448

169,709

99,985

271,142

At 31 December 2021

1,930

88,220

73,352

163,502

6

Debtors

Current

Note

2022
£

2021
£

Trade debtors

 

165,624

26,061

Amounts owed by related parties

11

841

-

Other debtors

 

180,072

180,073

   

346,537

206,134

7

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

9

72,750

70,114

Trade creditors

 

197

21,056

Taxation and social security

 

320,464

221,792

Accruals and deferred income

 

5,239

-

Other creditors

 

43,485

19,079

 

442,135

332,041

 

Static Homes Uk Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

9

185,404

93,700

8

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary of £1 (2021 - £0) each

1

1

-

-

         

9

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

36,667

39,406

Finance lease liabilities

148,737

54,294

185,404

93,700

2022
£

2021
£

Current loans and borrowings

Bank borrowings

10,000

5,594

Finance lease liabilities

62,750

64,520

72,750

70,114

10

Dividends

   

2022

 

2021

   

£

 

£

         

11

Related party transactions

The loans to directors are unsecured, interest free and repayable on demand

 

Static Homes Uk Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Transactions with directors

2022

At 1 January 2022
£

Advances to director
£

Repayments by director
£

At 31 December 2022
£

Miss Chloe Olivia Palmer

DLA

(39,567)

(5,045)

11,313

(33,299)

         
       

Mr Harry Hillman

DLA

(39,567)

(34,396)

28,129

(45,834)

         
       

 

2021

At 1 January 2021
£

Advances to director
£

At 31 December 2021
£

Miss Chloe Olivia Palmer

DLA

-

(39,567)

(39,567)

       
     

Mr Harry Hillman

DLA

-

(39,567)

(39,567)

       
     

 

 

Static Homes Uk Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Directors' remuneration

The directors' remuneration for the year was as follows:

2022
£

2021
£

Remuneration

36,414

-

Contributions paid to money purchase schemes

195

-

36,609

-