REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 September 2023 |
for |
Classic Homes (Staffs) Limited |
T/A |
Classic Refurb Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 September 2023 |
for |
Classic Homes (Staffs) Limited |
T/A |
Classic Refurb Limited |
Classic Homes (Staffs) Limited (Registered number: 04522426) |
T/A Classic Refurb Limited |
Contents of the Financial Statements |
for the Year Ended 30 September 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 8 |
Classic Homes (Staffs) Limited |
T/A Classic Refurb Limited |
Company Information |
for the Year Ended 30 September 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Hanover Court |
5 Queen Street |
Lichfield |
Staffordshire |
WS13 6QD |
Classic Homes (Staffs) Limited (Registered number: 04522426) |
T/A Classic Refurb Limited |
Balance Sheet |
30 September 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Fair value reserve | 12 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Classic Homes (Staffs) Limited (Registered number: 04522426) |
T/A Classic Refurb Limited |
Balance Sheet - continued |
30 September 2023 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Classic Homes (Staffs) Limited (Registered number: 04522426) |
T/A Classic Refurb Limited |
Notes to the Financial Statements |
for the Year Ended 30 September 2023 |
1. | STATUTORY INFORMATION |
Classic Homes (Staffs) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
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 are valued at the lower of cost and estimated selling price less costs to sell. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Classic Homes (Staffs) Limited (Registered number: 04522426) |
T/A Classic Refurb Limited |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 October 2022 |
Disposals | ( |
) | ( |
) |
At 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 October 2022 |
Disposals | ( |
) |
Revaluations | 287,722 |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
Fair value at 30 September 2023 is represented by: |
£ |
Valuation in 2023 | 287,722 |
Cost | 402,278 |
690,000 |
Investment property was valued on an open market basis on 30 September 2023 by the director . |
6. | STOCKS |
2023 | 2022 |
£ | £ |
Stock and work in progress |
Classic Homes (Staffs) Limited (Registered number: 04522426) |
T/A Classic Refurb Limited |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by participating interests | 185,000 | - |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 183,123 | 185,064 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
All loans are secured on the value of the freehold properties held by the company. |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 4 | 4 |
Classic Homes (Staffs) Limited (Registered number: 04522426) |
T/A Classic Refurb Limited |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
12. | RESERVES |
Fair |
value |
reserve |
£ |
Transfer | 215,792 |
At 30 September 2023 |
13. | RELATED PARTY DISCLOSURES |
Y Move Properties Limited |
A company in which Mr Follows is a director and shareholder |
During the year £185,000 was loaned to Y Move Properties Limited. This is an interest free loan and there are no fixed repayment terms in operation. |
P Follows |
Director |
The company had an outstanding directors loan of £65,217 (2022: £89,661) at the year end, included in other creditors. This loan is interest free and there are no fixed repayment terms in operation. |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Classic Homes (Staffs) Limited |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Classic Homes (Staffs) Limited for the year ended 30 September 2023 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of Classic Homes (Staffs) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Classic Homes (Staffs) Limited and state those matters that we have agreed to state to the director of Classic Homes (Staffs) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Classic Homes (Staffs) Limited and its director for our work or for this report. |
It is your duty to ensure that Classic Homes (Staffs) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Classic Homes (Staffs) Limited. You consider that Classic Homes (Staffs) Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Classic Homes (Staffs) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Hanover Court |
5 Queen Street |
Lichfield |
Staffordshire |
WS13 6QD |