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REGISTERED NUMBER: 05980569 (England and Wales)

















BLACK HORSE RESIDENTIAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022






BLACK HORSE RESIDENTIAL LIMITED (REGISTERED NUMBER: 05980569)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BLACK HORSE RESIDENTIAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2022







DIRECTORS: TS Mayer
SJ Naji





SECRETARY: Mrs S L Mayer





REGISTERED OFFICE: Broad House
1 The Broadway
Old Hatfield
Hertfordshire
AL9 5BG





REGISTERED NUMBER: 05980569 (England and Wales)

BLACK HORSE RESIDENTIAL LIMITED (REGISTERED NUMBER: 05980569)

BALANCE SHEET
30 SEPTEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 43,997 12,516

CURRENT ASSETS
Stock and work in progress 840,034 1,321,368
Debtors 5 1,813,202 1,541,283
Cash at bank 395,783 -
3,049,019 2,862,651
CREDITORS
Amounts falling due within one year 6 2,100,825 1,953,943
NET CURRENT ASSETS 948,194 908,708
TOTAL ASSETS LESS CURRENT
LIABILITIES

992,191

921,224

CREDITORS
Amounts falling due after more than one year 7 500,000 600,479
NET ASSETS 492,191 320,745

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 492,091 320,645
SHAREHOLDERS' FUNDS 492,191 320,745

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

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 Board of Directors and authorised for issue on 15 March 2024 and were signed on its behalf by:





TS Mayer - Director


BLACK HORSE RESIDENTIAL LIMITED (REGISTERED NUMBER: 05980569)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

1. STATUTORY INFORMATION

Black Horse Residential Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In preparing these financial statements, the director has exercised judgement in the following principal areas:
- In determining the depreciation rates of tangible fixed assets, which are depreciated over their useful lives, taking into account residual values, where appropriate. The actual lives of the assets are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as past experience and expected performance are taken into account.
- In estimating the quantum of doubtful debts when collection of the full amount is no longer probable. The director's best estimate is based on the period the debt has been outstanding and the difficulties experienced and anticipated in pursuing collection.
- In assessing the net realisable value of the company's stocks. Factors taken into consideration in reaching a decision include sales in the previous year and forecasts for the coming year.

Turnover
The company develops residential properties. As regards income, this is recognised on the exchange of contracts with a buyer. 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stock and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

BLACK HORSE RESIDENTIAL LIMITED (REGISTERED NUMBER: 05980569)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2022

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2021 36,830
Additions 39,749
At 30 September 2022 76,579
DEPRECIATION
At 1 October 2021 24,314
Charge for year 8,268
At 30 September 2022 32,582
NET BOOK VALUE
At 30 September 2022 43,997
At 30 September 2021 12,516

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 10,800 -
Other debtors 1,802,402 1,541,283
1,813,202 1,541,283

BLACK HORSE RESIDENTIAL LIMITED (REGISTERED NUMBER: 05980569)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts - 160,789
Hire purchase contracts 368 2,836
Trade creditors 72,346 75,311
Taxation and social security 77,841 41,140
Other creditors 1,950,270 1,673,867
2,100,825 1,953,943

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Hire purchase contracts - 479
Other creditors 500,000 600,000
500,000 600,479

8. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank overdraft - 2,115
Bank loans - 158,674
- 160,789

9. RELATED PARTY DISCLOSURES

During the year the company repaid £72,398 to (2021: £65,718 borrowed from) its directors.

At the balance sheet date the company owed £257,467 (2021: £329,864) to the directors; no terms have been set concerning the payment of interest or the repayment of capital on these loans.