Coquet Valley Homes Ltd 12982706 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is that of development and letting of residential property. Digita Accounts Production Advanced 6.30.9574.0 true 12982706 2022-11-01 2023-10-31 12982706 2023-10-31 12982706 core:RetainedEarningsAccumulatedLosses 2023-10-31 12982706 core:ShareCapital 2023-10-31 12982706 core:CurrentFinancialInstruments 2023-10-31 12982706 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 12982706 core:Non-currentFinancialInstruments 2023-10-31 12982706 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 12982706 core:FurnitureFittings 2023-10-31 12982706 bus:SmallEntities 2022-11-01 2023-10-31 12982706 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 12982706 bus:FullAccounts 2022-11-01 2023-10-31 12982706 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 12982706 bus:RegisteredOffice 2022-11-01 2023-10-31 12982706 bus:Director1 2022-11-01 2023-10-31 12982706 bus:Director2 2022-11-01 2023-10-31 12982706 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 12982706 core:FurnitureFittings 2022-11-01 2023-10-31 12982706 countries:EnglandWales 2022-11-01 2023-10-31 12982706 2022-10-31 12982706 core:FurnitureFittings 2022-10-31 12982706 2021-11-01 2022-10-31 12982706 2022-10-31 12982706 core:RetainedEarningsAccumulatedLosses 2022-10-31 12982706 core:ShareCapital 2022-10-31 12982706 core:CurrentFinancialInstruments 2022-10-31 12982706 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 12982706 core:Non-currentFinancialInstruments 2022-10-31 12982706 core:Non-currentFinancialInstruments core:AfterOneYear 2022-10-31 12982706 core:FurnitureFittings 2022-10-31 iso4217:GBP xbrli:pure

Registration number: 12982706

Coquet Valley Homes Ltd

Filleted Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Coquet Valley Homes Ltd

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 7

 

Coquet Valley Homes Ltd

Company Information

Directors

C. Aird

Mrs J. Aird

Registered office

2 East End Cottages
East Road
Longhorsley
Morpeth
Northumberland
NE65 8SY

 

Coquet Valley Homes Ltd

(Registration number: 12982706)
Statement of Financial Position as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

4,437

5,868

Investment property

5

336,734

336,734

 

341,171

342,602

Current assets

 

Debtors

6

1,029

-

Cash at bank and in hand

 

17,141

8,880

 

18,170

8,880

Creditors: Amounts falling due within one year

7

(141,904)

(143,019)

Net current liabilities

 

(123,734)

(134,139)

Total assets less current liabilities

 

217,437

208,463

Creditors: Amounts falling due after more than one year

7

(229,372)

(213,992)

Net liabilities

 

(11,935)

(5,529)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(12,035)

(5,629)

Total equity

 

(11,935)

(5,529)

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised for issue by the Board on 29 February 2024 and signed on its behalf by:
 

.........................................
C. Aird
Director

 

Coquet Valley Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is 2 East End Cottages, East Road, Longhorsley, Morpeth, Northumberland, NE65 8SY.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in sterling which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Coquet Valley Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

2

Accounting policies (continued)

 

Asset class

Depreciation method and rate

 

Fixtures and Fittings

Straight line over 4 years

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Coquet Valley Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

Coquet Valley Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 November 2022

5,868

5,868

Additions

48

48

At 31 October 2023

5,916

5,916

Depreciation

Charge for the year

1,479

1,479

At 31 October 2023

1,479

1,479

Carrying amount

At 31 October 2023

4,437

4,437

At 31 October 2022

5,868

5,868

5

Investment properties

2023
£

At 1 November

336,734

At 31 October

336,734

There has been no valuation of investment property by an independent valuer.

 

Coquet Valley Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

6

Debtors

2023
£

2022
£

Prepayments

1,029

-

1,029

-

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Other creditors

795

2,270

Directors loan accounts

141,109

140,749

141,904

143,019

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

229,372

213,992

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

229,372

213,992