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Company No: 10295124 (England and Wales)

BLACKWELL HOMES LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

BLACKWELL HOMES LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

BLACKWELL HOMES LIMITED

COMPANY INFORMATION

For the financial year ended 31 July 2023
BLACKWELL HOMES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 July 2023
DIRECTORS Simon Blackwell
Steven Blackwell
REGISTERED OFFICE 86 Prospect Avenue
Stanford-Le-Hope
SS17 0NJ
England
United Kingdom
COMPANY NUMBER 10295124 (England and Wales)
CHARTERED ACCOUNTANTS Gascoynes
Gascoyne House
Moseleys Farm Business Centre
Fornham All Saints
Bury St Edmunds
Suffolk
IP28 6JY
BLACKWELL HOMES LIMITED

BALANCE SHEET

As at 31 July 2023
BLACKWELL HOMES LIMITED

BALANCE SHEET (continued)

As at 31 July 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 613,155 570,406
613,155 570,406
Current assets
Debtors 4 2,129 5,988
Cash at bank and in hand 11,636 38,347
13,765 44,335
Creditors: amounts falling due within one year 5 ( 410,136) ( 387,993)
Net current liabilities (396,371) (343,658)
Total assets less current liabilities 216,784 226,748
Creditors: amounts falling due after more than one year 6 ( 104,082) ( 101,050)
Provision for liabilities 7 ( 11,998) ( 21,621)
Net assets 100,704 104,077
Capital and reserves
Called-up share capital 8 300 300
Revaluation reserve 52,912 93,937
Profit and loss account 47,492 9,840
Total shareholders' funds 100,704 104,077

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

Directors' responsibilities:

The financial statements of Blackwell Homes Limited (registered number: 10295124) were approved and authorised for issue by the Board of Directors on 09 April 2024. They were signed on its behalf by:

Steven Blackwell
Director
BLACKWELL HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
BLACKWELL HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Blackwell Homes Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 86 Prospect Avenue, Stanford-Le-Hope, SS17 0NJ, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Investment property not depreciated
Plant and machinery 20 % reducing balance
Computer equipment 33.3 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Investment property Plant and machinery Computer equipment Total
£ £ £ £
Cost
At 01 August 2022 570,000 429 668 571,097
Additions 232,000 305 800 233,105
Disposals ( 190,000) 0 ( 668) ( 190,668)
At 31 July 2023 612,000 734 800 613,534
Accumulated depreciation
At 01 August 2022 0 205 486 691
Charge for the financial year 0 85 89 174
Disposals 0 0 ( 486) ( 486)
At 31 July 2023 0 290 89 379
Net book value
At 31 July 2023 612,000 444 711 613,155
At 31 July 2022 570,000 224 182 570,406

4. Debtors

2023 2022
£ £
Other debtors 2,129 5,988

5. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to directors 396,508 382,180
Accruals 2,355 2,229
Corporation tax 9,598 1,909
Other creditors 1,675 1,675
410,136 387,993

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans (secured) 104,082 101,050

The company's secured creditors are £104,082 (2022 - £101,050.)

Paragon Bank Plc has a charge registered on the company's property Flat 72 Ashlands Court, Coronation Avenue, East Tilbury, RM18 8SW and parking space.

7. Provision for liabilities

2023 2022
£ £
Deferred tax 11,998 21,621

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
300 Ordinary shares of £ 1.00 each 300 300