Caseware UK (AP4) 2022.0.179 2022.0.179 2023-10-312023-10-31The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings. The current corporation 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.No description of principal activity112022-11-01false11truetrue 02753626 2022-11-01 2023-10-31 02753626 2021-11-01 2022-10-31 02753626 2023-10-31 02753626 2022-10-31 02753626 2021-11-01 02753626 c:CompanySecretary1 2022-11-01 2023-10-31 02753626 c:Director1 2022-11-01 2023-10-31 02753626 c:Director2 2022-11-01 2023-10-31 02753626 c:Director3 2022-11-01 2023-10-31 02753626 c:RegisteredOffice 2022-11-01 2023-10-31 02753626 d:OfficeEquipment 2022-11-01 2023-10-31 02753626 d:OfficeEquipment 2023-10-31 02753626 d:OfficeEquipment 2022-10-31 02753626 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 02753626 d:CurrentFinancialInstruments 2023-10-31 02753626 d:CurrentFinancialInstruments 2022-10-31 02753626 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 02753626 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 02753626 d:ShareCapital 2023-10-31 02753626 d:ShareCapital 2022-10-31 02753626 d:RetainedEarningsAccumulatedLosses 2023-10-31 02753626 d:RetainedEarningsAccumulatedLosses 2022-10-31 02753626 d:AcceleratedTaxDepreciationDeferredTax 2023-10-31 02753626 d:AcceleratedTaxDepreciationDeferredTax 2022-10-31 02753626 c:FRS102 2022-11-01 2023-10-31 02753626 c:Audited 2022-11-01 2023-10-31 02753626 c:FullAccounts 2022-11-01 2023-10-31 02753626 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 02753626 c:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 02753626 2 2022-11-01 2023-10-31 02753626 6 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 02753626












BEVERLEY HOMES LIMITED

 FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

 
BEVERLEY HOMES LIMITED
 

COMPANY INFORMATION


DIRECTORS
A. J. Barham 
A. D. Jones 
J. Barham 




COMPANY SECRETARY
A. J. Barham



REGISTERED NUMBER
02753626



REGISTERED OFFICE
Bayley Hall
Queens Road

Hertford

Hertfordshire

SG14 1EN




INDEPENDENT AUDITORS
Wilder Coe Ltd
Chartered Accountants & Statutory Auditors

1st Floor Sackville House

143-149 Fenchurch Street

London

EC3M 6BL





 
BEVERLEY HOMES LIMITED
 

CONTENTS



Page
Balance Sheet
 
1
Notes to the Financial Statements
 
2 - 8


 
BEVERLEY HOMES LIMITED
REGISTERED NUMBER: 02753626

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
43
321

Investments
 5 
39,001
1

  
39,044
322

CURRENT ASSETS
  

Stocks
 6 
3,337,179
2,398,955

Debtors
 7 
454,300
385,531

Cash at bank and in hand
  
139,511
1,280,001

  
3,930,990
4,064,487

Creditors: amounts falling due within one year
 8 
(1,211,836)
(1,126,057)

NET CURRENT ASSETS
  
 
 
2,719,154
 
 
2,938,430

PROVISIONS FOR LIABILITIES
  

Deferred taxation
  
-
(61)

NET ASSETS
  
2,758,198
2,938,691


CAPITAL AND RESERVES
  

Allotted, called up and fully paid share capital
  
100
100

Profit and loss account
  
2,758,098
2,938,591

EQUITY SHAREHOLDERS' FUNDS
  
2,758,198
2,938,691


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.

The company has opted not to file the Directors' Report and Statement of Income and Retained Earnings in accordance with provisions applicable to companies subject to the small companies regime, under section 444 of the Companies Act 2006.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 February 2024.




A. J. Barham
Director

The notes on pages 2 to 8 form part of these financial statements.

Page 1

 
BEVERLEY HOMES LIMITED
 

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

1.


GENERAL INFORMATION

Beverley Homes Limited (company number: 02753626) having its registered office and principal place of business at Bayley Hall, Queens Road, Hertford, Hertfordshire, SG14 1EN, is a private limited company incorporated in England and Wales. 

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

Statement of Cash Flows

The company has taken advantage of the exemptions in Financial Reporting Standard, Section 1A.7 from the requirement to produce a Statement of Cash Flows on the grounds that it is a small company.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 2

 
BEVERLEY HOMES LIMITED
 

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

2.ACCOUNTING POLICIES (continued)

 
2.4

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
15-33% straight line

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 the Statement of Income and Retained Earnings.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each Balance Sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.6

Stocks

Land and development work in progress is valued at the lower of cost and net realisable value in the normal course of business.

Interest charges on loans to finance developments are charged to the Statement of Income and Retained Earnings.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.8

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.

 
2.9

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 and loans to related parties.

Page 3

 
BEVERLEY HOMES LIMITED
 

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

2.ACCOUNTING POLICIES (continued)

 
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

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings 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.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.13

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.14

Interest income

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

  
2.15

Borrowing costs

All borrowing costs are recognised in the Statement of Income and Retained Earnings in the year in which they are incurred.

Page 4

 
BEVERLEY HOMES LIMITED
 

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

2.ACCOUNTING POLICIES (continued)

 
2.16

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings.
The current corporation 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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 11 (2022 - 11).


4.


TANGIBLE FIXED ASSETS





Office equipment

£



COST


At 1 November 2022 and 31 October 2023
40,546



DEPRECIATION


At 1 November 2022
40,225


Charge for the year
278



At 31 October 2023

40,503



NET BOOK VALUE



At 31 October 2023
43



At 31 October 2022
321

Page 5

 
BEVERLEY HOMES LIMITED
 

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

5.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies
Unlisted investments
Total

£
£
£



COST


At 1 November 2022
1
-
1


Additions
-
39,000
39,000



At 31 October 2023
1
39,000
39,001





6.


STOCKS

2023
2022
£
£

Work in progress
3,337,179
2,398,955



7.


DEBTORS

2023
2022
£
£

Due within one year

Trade debtors
-
3,012

Other debtors
42,758
75,870

Prepayments and accrued income
411,542
306,649

454,300
385,531


Page 6

 
BEVERLEY HOMES LIMITED
 

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

8.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Trade creditors
309,643
304,470

Corporation tax
-
132,233

Other taxation and social security
20,216
20,714

Other creditors
681,864
245,179

Accruals and deferred income
200,113
423,461

1,211,836
1,126,057


Included within other creditors is a loan of £127,864 (2022: £244,179) due to A. J. Barham, a director of the company, which is secured by way of a fixed and floating charge over the assets of the company and a debenture in favour of A. J. Barham.

Page 7

 
BEVERLEY HOMES LIMITED
 

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

9.


DEFERRED TAXATION




2023
2022


£

£



At beginning of year
(61)
(159)


Charged in the year
61
98



AT END OF YEAR
-
(61)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
-
(61)


10.


PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £31,157 (2022: £10,780)


11.


RELATED PARTY TRANSACTIONS

Included within trade debtors are amounts due from related parties of £Nil (2022: £2,532)
Included within other creditors are amounts due to key management personnel of the company of £127,864 
(2022: £244,179).
Included within other creditors are amounts due to related parties of £550,000 
(2022: £Nil).
Included within cost of sales are profit share amounts payable totalling £3,308 
(2022: £232,978) in relation to joint venture agreements with related parties.
Included within other operating income are profit share amounts receivable totalling £398,102 
(2022: £Nil) in relation to joint venture agreements with related parties. These amounts were outstanding at the year end and included within prepayments and accrued income.


12.


AUDITORS' INFORMATION

The company was subject to an audit for the year ended 31 October 2023. The audit report was issued with an unqualified opinion and signed on 15 February 2024 by Robert Bradman BA CA (Senior Statutory Auditor) on behalf of Wilder Coe Ltd.




Page 8