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REGISTERED NUMBER: 04522426 (England and Wales)















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: P Follows





REGISTERED OFFICE: 2 Pinewood Avenue
Cannock
Staffordshire
WS11 4AZ





REGISTERED NUMBER: 04522426 (England and Wales)





ACCOUNTANTS: Tomkinson Teal Limited
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 3,771 5,236
Investment property 5 690,000 598,351
693,771 603,587

CURRENT ASSETS
Stocks 6 - 37,800
Debtors 7 240,795 40,014
Cash at bank 131,248 29,607
372,043 107,421
CREDITORS
Amounts falling due within one year 8 (141,148 ) (145,564 )
NET CURRENT ASSETS/(LIABILITIES) 230,895 (38,143 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

924,666

565,444

CREDITORS
Amounts falling due after more than one
year

9

(209,280

)

(220,966

)

PROVISIONS FOR LIABILITIES (71,930 ) -
NET ASSETS 643,456 344,478

CAPITAL AND RESERVES
Called up share capital 11 4 4
Fair value reserve 12 215,792 -
Retained earnings 427,660 344,474
SHAREHOLDERS' FUNDS 643,456 344,478

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

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


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 director and authorised for issue on 8 February 2024 and were signed by:





P Follows - Director


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 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 as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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 1 (2022 - 1 ) .

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 12,167 4,971 15,150 2,179 34,467
Disposals - - (5,550 ) - (5,550 )
At 30 September 2023 12,167 4,971 9,600 2,179 28,917
DEPRECIATION
At 1 October 2022 9,550 4,658 12,844 2,179 29,231
Charge for year 393 47 577 - 1,017
Eliminated on disposal - - (5,102 ) - (5,102 )
At 30 September 2023 9,943 4,705 8,319 2,179 25,146
NET BOOK VALUE
At 30 September 2023 2,224 266 1,281 - 3,771
At 30 September 2022 2,617 313 2,306 - 5,236

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 598,351
Disposals (196,073 )
Revaluations 287,722
At 30 September 2023 690,000
NET BOOK VALUE
At 30 September 2023 690,000
At 30 September 2022 598,351

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 - 37,800

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 55,795 40,014
Amounts owed by participating interests 185,000 -
240,795 40,014

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 11,686 11,686
Trade creditors 22,154 21,686
Taxation and social security 39,595 20,112
Other creditors 67,713 92,080
141,148 145,564

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 209,280 220,966

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 220,966 232,652

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: £    £   
4 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 215,792

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.






Tomkinson Teal Limited
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD


8 February 2024