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REGISTERED NUMBER: 06264639 (England and Wales)
















Borne Homes Limited

Unaudited Financial Statements

for the Year Ended 31 July 2023







Borne Homes Limited (Registered number: 06264639)



Contents of the Financial Statements

for the year ended 31 July 2023











Page




Company Information  

1




Balance Sheet  

2




Notes to the Financial Statements  

3





Borne Homes Limited



Company Information

for the year ended 31 July 2023









Directors:

Mr F A Bellenger


Mr J Hughes


Mrs J Hughes


Mr D Hughes







Secretary:

Mr G A Hughes







Registered office:

New Derwent House


69-73 Theobalds Road


London


WC1X 8TA







Registered number:

06264639 (England and Wales)







Accountants:

Cooper Parry Advisory Limited


New Derwent House


69-73 Theobalds Road


London


WC1X 8TA



Borne Homes Limited (Registered number: 06264639)



Balance Sheet

31 July 2023


2023

2022



Notes

£

£

£

£

Fixed assets

Investment property

4

470,000


470,000




Current assets

Debtors

5

109,299


95,915



Cash at bank

5,158


33,790



114,457


129,705



Creditors

Amounts falling due within one year

6

5,776


9,945



Net current assets

108,681


119,760



Total assets less current liabilities

578,681


589,760




Creditors

Amounts falling due after more than one

year

7

(352,394

)

(352,378

)



Provisions for liabilities

(37,838

)

(37,839

)


Net assets

188,449


199,543




Capital and reserves

Called up share capital

9

100


100



Fair value reserve

10

199,150


199,150



Retained earnings

10

(10,801

)

293



Shareholders' funds

188,449


199,543




The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.  


The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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 Income Statement has not been delivered.


The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2024 and were signed on its behalf by:





Mr J Hughes - Director




Borne Homes Limited (Registered number: 06264639)



Notes to the Financial Statements

for the year ended 31 July 2023



1.

Statutory information



Borne Homes 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.


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 as modified by the revaluation of certain assets.    



Related party exemption


The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.



Going concern

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.


Turnover


Turnover represents rent receivable, excluding value added tax, during the year.



Investment property


Investment property is included at fair value. Gains are recognised in the profit and loss account. Deferred


taxation is provided on these gains at the rate expected to apply when the property is sold.



Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


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.


Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.

Employees and directors



The average number of employees during the year was 4 (2022 - 4 ) .



Borne Homes Limited (Registered number: 06264639)



Notes to the Financial Statements - continued

for the year ended 31 July 2023



4.

Investment property

Total



£


Fair value


At 1 August 2022


and 31 July 2023

470,000




Net book value


At 31 July 2023

470,000




At 31 July 2022

470,000




5.

Debtors: amounts falling due within one year


2023

2022



£

£


Trade debtors

500


250




Amounts owed by group undertakings

107,189


94,533




Other debtors

1,610


1,132



109,299


95,915




6.

Creditors: amounts falling due within one year


2023

2022



£

£


Trade creditors

160


-




Other creditors

5,616


9,945



5,776


9,945




7.

Creditors: amounts falling due after more than one year


2023

2022



£

£


Bank loans

352,394


352,378




8.

Secured debts



The following secured debts are included within creditors:


2023

2022



£

£


Bank loans

352,394


352,378





Paratus Amc Limited holds a fixed and floating charge over the assets of the company.


9.

Called up share capital



Allotted, issued and fully paid:


Number:

Class:

Nominal

2023

2022


value:


£

£


100

Ordinary

£1

100


100





Borne Homes Limited (Registered number: 06264639)



Notes to the Financial Statements - continued

for the year ended 31 July 2023



10.

Reserves

Retained

Fair value


earnings

reserve

Totals



£

£

£



At 1 August 2022

293


199,150


199,443




Deficit for the year

(11,094

)

(11,094

)



At 31 July 2023

(10,801

)

199,150


188,349