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Registered Number: 06819611
England and Wales

 

 

 

CRAIG STYLER HOMES LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2022

End date: 30 June 2023
Directors Mr Craig Styler
Mrs Ceris Styler
Registered Number 06819611
Registered Office New House Farm
North Piddle
Grafton Flyford Worcester
UK
WR7 4PU
Accountants PJW Accounting Limited
Office 5
Lancaster Park
Newborough Road
Staffs
DE13 9PD
Bankers Lloyds Bank



1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 37,165    50,256 
37,165    50,256 
Current assets      
Stocks 4 2,554,125    1,583,690 
Debtors: amounts falling due within one year 5 38,852    47,780 
Cash at bank and in hand 193,005    733,120 
2,785,982    2,364,590 
Creditors: amount falling due within one year 6 (246,616)   (108,926)
Net current assets 2,539,366    2,255,664 
 
Total assets less current liabilities 2,576,531    2,305,920 
Creditors: amount falling due after more than one year 7 (2,511,363)   (2,131,224)
Provisions for liabilities 8 (16,975)   (37,449)
Net assets 48,193    137,247 
 

Capital and reserves
     
Called up share capital 202    202 
Profit and loss account 47,991    137,045 
Shareholder's funds 48,193    137,247 
 


For the year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 14 November 2023 and were signed on its behalf by:


-------------------------------
Mr Craig Styler
Director
2
General Information
Craig Styler Homes Limited is a private company, limited by shares, registered in England and Wales, registration number 06819611, registration address New House Farm, North Piddle, Grafton Flyford Worcester, UK, WR7 4PU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 20% Straight Line
Plant and Machinery 15% Straight Line
Computer Equipment 33% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated. A provision has been made of a percentage of the average house sales in the past 2 years to reflect construction contingencies that may arise. This is shown under Other Provisions.

2.

Average number of employees

Average number of employees during the year was 3 (2022 : 3).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer Equipment   Motor Vehicles   Total
  £   £   £   £
At 01 July 2022 25,012    2,536    58,693    86,241 
Additions      
Disposals      
At 30 June 2023 25,012    2,536    58,693    86,241 
Depreciation
At 01 July 2022 22,028    1,892    12,064    35,984 
Charge for year 1,032    322    11,738    13,092 
On disposals      
At 30 June 2023 23,060    2,214    23,802    49,076 
Net book values
Closing balance as at 30 June 2023 1,952    322    34,891    37,165 
Opening balance as at 01 July 2022 2,984    644    46,628    50,256 

The net book value of Plant and Machinery, Motor Vehicles includes £ 33,741 (2022 £46,629) in respect of assets leased under finance leases or hire purchase contracts.

4.

Stocks

2023
£
  2022
£
Work in Progress 1,500,589    530,154 
Stocks 1,053,536    1,053,536 
2,554,125    1,583,690 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Amount Owed by Participating Interests 3,302    29,181 
Prepayments & Accrued Income 508    949 
Other Debtors 1,916   
VAT 33,126    17,650 
38,852    47,780 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 96,160    32,286 
Bank Loans & Overdrafts 10,000    10,000 
Corporation Tax 4,967    14,063 
PAYE & Social Security 4,013    3,435 
Accrued Expenses 125,121    41,223 
Other Creditors  
Obligations under HP/Financial Leases 5,785    6,050 
Wages & Salaries Control Account   720 
Directors' Current Accounts 570    1,149 
246,616    108,926 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 19,167    29,167 
Other Loans 2,470,283    2,074,359 
Obligations Under HP/Financial Leases 21,913    27,698 
2,511,363    2,131,224 
£2,000,000 of other loans are secured against the land in which the loan is in respect of which is included in stocks in note 4.

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 7,062    9,549 
Other Provisions 9,913    27,900 
16,975    37,449 

9.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
Mr and Mrs C Styler(570)(1,149)
Craig Styler Lettings Limited3,302 29,181 
10.

Ultimate controlling party

The ultimate controlling party is Mr C Styler.
3