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Registration number: 06989306

Haven Homes Devon Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2023

 

Haven Homes Devon Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Haven Homes Devon Limited

Company Information

Directors

Mr M Janjanin

Mrs I L McPhie-Janjanin

Registered office

Suite 26 Atlas House
West Devon Business Park
Tavistock
Devon
PL19 9DP

Accountants

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
3 Atlas House
West Devon Business Park
Tavistock
Devon
PL19 9DP

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Haven Homes Devon Limited
for the Year Ended 31 August 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Haven Homes Devon Limited for the year ended 31 August 2023 as set out on pages 3 to 8 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 at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Haven Homes Devon Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Haven Homes Devon Limited and state those matters that we have agreed to state to the Board of Directors of Haven Homes Devon Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Haven Homes Devon Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Haven Homes Devon Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Haven Homes Devon Limited. You consider that Haven Homes Devon 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 accounts of Haven Homes Devon 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 accounts.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
3 Atlas House
West Devon Business Park
Tavistock
Devon
PL19 9DP

25 March 2024

 

Haven Homes Devon Limited

(Registration number: 06989306)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,190,547

1,088,315

Current assets

 

Debtors

5

-

16,659

Cash at bank and in hand

 

-

321

 

-

16,980

Creditors: Amounts falling due within one year

6

(426,709)

(355,273)

Net current liabilities

 

(426,709)

(338,293)

Total assets less current liabilities

 

763,838

750,022

Creditors: Amounts falling due after more than one year

6

(591,410)

(614,916)

Net assets

 

172,428

135,106

Capital and reserves

 

Called up share capital

100

100

Retained earnings

172,328

135,006

Shareholders' funds

 

172,428

135,106

 

Haven Homes Devon Limited

(Registration number: 06989306)
Balance Sheet as at 31 August 2023

For the financial year ending 31 August 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 accounts 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 accounts.

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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 25 March 2024 and signed on its behalf by:
 

.........................................

Mr M Janjanin

Director

 

Haven Homes Devon Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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:
Suite 26 Atlas House
West Devon Business Park
Tavistock
Devon
PL19 9DP

The principal place of business is:
Unit 25 Atlas House
West Devon Business Park
Tavistock
Devon
PL19 9DP

These financial statements were authorised for issue by the Board on 25 March 2024.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Haven Homes Devon Limited

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

Tangible assets

Tangible assets are stated in the balance sheet 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:

Asset class

Depreciation method and rate

Fixtures and fittings

18% reducing balance

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.
 
Financial instruments are measured at amortised cost.
 
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the limited liability partnership transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the limited liability partnership, despite having retained some significant risks and rewards of ownership, has transferred control of the asset to another party and the other party has the practical ability to sell the asset in its entirety to an unrelated third party and is able to exercise that ability unilaterally and without needing to impose additional restrictions on the transfer.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Haven Homes Devon Limited

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

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2022

1,082,879

11,491

1,094,370

Additions

102,307

931

103,238

At 31 August 2023

1,185,186

12,422

1,197,608

Depreciation

At 1 September 2022

-

6,055

6,055

Charge for the year

-

1,006

1,006

At 31 August 2023

-

7,061

7,061

Carrying amount

At 31 August 2023

1,185,186

5,361

1,190,547

At 31 August 2022

1,082,879

5,436

1,088,315

Included within the net book value of land and buildings above is £1,185,186 (2022 - £1,082,879) in respect of freehold land and buildings.
 

5

Debtors

2023
£

2022
£

Trade debtors

-

585

Other debtors

-

16,074

-

16,659

 

Haven Homes Devon Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

33,020

39,785

Taxation and social security

 

6,451

4,293

Accruals and deferred income

 

278

156

Other creditors

 

386,960

311,039

 

426,709

355,273

Creditors include bank loans which are secured of £33,000 (2022 - £39,785). Other Creditors include amount due to Director-Isla of £310,431 (2022-£305,606) and amount due to Intercompany-Moorcare Devon Limited of £76,529.

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

591,410

614,916

Creditors include bank loans are secured of £591,410 (2022 - £614,916).

Fixed and floating charges are held over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery.

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

591,410

614,916

2023
£

2022
£

Current loans and borrowings

Bank borrowings

33,000

39,785

Bank overdrafts

20

-

33,020

39,785