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COMPANY REGISTRATION NUMBER: 10695754
Your Build Housing Limited
Unaudited financial statements
30 June 2023
Your Build Housing Limited
Statement of financial position
30 June 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
530,000
506,000
Investments
6
100
100
---------
---------
530,100
506,100
Current assets
Debtors
7
17,765
17,515
Cash at bank and in hand
15,374
43,517
-------
-------
33,139
61,032
Creditors: Amounts falling due within one year
8
( 170,258)
( 218,399)
---------
---------
Net current liabilities
( 137,119)
( 157,367)
---------
---------
Total assets less current liabilities
392,981
348,733
Creditors: Amounts falling due after more than one year
9
( 173,413)
( 173,413)
Provisions
Taxation including deferred tax
( 17,880)
( 13,320)
---------
---------
Net assets
201,688
162,000
---------
---------
Capital and reserves
Called up share capital
100
100
Revaluation reserve
78,527
59,087
Profit and loss account
123,061
102,813
---------
---------
Shareholders funds
201,688
162,000
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Your Build Housing Limited
Statement of financial position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 4 March 2024 , and are signed on behalf of the board by:
S W Beavis
Director
Company registration number: 10695754
Your Build Housing Limited
Notes to the financial statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 11 Lynn Road, Ely, Cambridgeshire, United Kingdom, CB7 4EG. The trading address of the company is 46b Station Road, Soham, Cambridgeshire, CB7 5DY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Revenue from the lease of property is recognised when the significant risks and rewards of leasing the property have transferred to the lessee, usually on the period of the lease, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
4. Employee numbers
The average number of employees during the year was 1 (2022: 1 ).
5. Tangible assets
Investment property
£
Cost or valuation
At 1 July 2022
506,000
Revaluations
24,000
---------
At 30 June 2023
530,000
---------
Depreciation
At 1 July 2022 and 30 June 2023
---------
Carrying amount
At 30 June 2023
530,000
---------
At 30 June 2022
506,000
---------
The director considers the investment property held in the accounts to be at market value.
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Investment property
£
At 30 June 2023
Aggregate cost
433,593
Aggregate depreciation
---------
Carrying value
433,593
---------
At 30 June 2022
Aggregate cost
433,593
Aggregate depreciation
---------
Carrying value
433,593
---------
6. Investments
Shares in group undertakings
£
Cost
At 1 July 2022 and 30 June 2023
100
----
Impairment
At 1 July 2022 and 30 June 2023
----
Carrying amount
At 30 June 2023
100
----
At 30 June 2022
100
----
7. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
17,515
17,515
Other debtors
250
-------
-------
17,765
17,515
-------
-------
8. Creditors: Amounts falling due within one year
2023
2022
£
£
Trade creditors
109
97
Social security and other taxes
5,351
73
Other creditors
164,798
218,229
---------
---------
170,258
218,399
---------
---------
9. Creditors: Amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
173,413
173,413
---------
---------
The following liabilities disclosed under creditors falling due after one year are secured over certain assets of the company:
Bank loans and overdrafts - £173,413.
Included within creditors: amounts falling due after more than one year is an amount of £173,413 in respect of liabilities which fall due for payment after more than five years from the reporting date. The bank loan is repayable in full in 2045, interest is charged at 2.98%.