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REGISTERED NUMBER: 08654203 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

BULL HOMES LTD

BULL HOMES LTD (REGISTERED NUMBER: 08654203)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BULL HOMES LTD

COMPANY INFORMATION
for the Year Ended 31 August 2023







DIRECTOR: Mr S J Badcock





REGISTERED OFFICE: 4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE





REGISTERED NUMBER: 08654203 (England and Wales)





ACCOUNTANTS: Kings Chartered Accountants
4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE

BULL HOMES LTD (REGISTERED NUMBER: 08654203)

BALANCE SHEET
31 August 2023

31.8.23 31.8.22
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 72,129 -

CURRENT ASSETS
Stocks 5 7,167,502 6,881,884
Debtors 6 61,637 724,473
Cash at bank and in hand 7,422 148,669
7,236,561 7,755,026
CREDITORS
Amounts falling due within one year 7 4,619,953 4,055,947
NET CURRENT ASSETS 2,616,608 3,699,079
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,688,737

3,699,079

CREDITORS
Amounts falling due after more than one
year

8

(76,505

)

(554,167

)

PROVISIONS FOR LIABILITIES 10 (13,236 ) -
NET ASSETS 2,598,996 3,144,912

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 2,598,896 3,144,812
SHAREHOLDERS' FUNDS 2,598,996 3,144,912

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

BULL HOMES LTD (REGISTERED NUMBER: 08654203)

BALANCE SHEET - continued
31 August 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 1 May 2024 and were signed by:





Mr S J Badcock - Director


BULL HOMES LTD (REGISTERED NUMBER: 08654203)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Bull Homes Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the provision of services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 15% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

BULL HOMES LTD (REGISTERED NUMBER: 08654203)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, loans from fellow group undertakings, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

BULL HOMES LTD (REGISTERED NUMBER: 08654203)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
Additions 73,940 2,122 76,062
At 31 August 2023 73,940 2,122 76,062
DEPRECIATION
Charge for year 3,697 236 3,933
At 31 August 2023 3,697 236 3,933
NET BOOK VALUE
At 31 August 2023 70,243 1,886 72,129

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 73,940
At 31 August 2023 73,940
DEPRECIATION
Charge for year 3,697
At 31 August 2023 3,697
NET BOOK VALUE
At 31 August 2023 70,243

5. STOCKS
31.8.23 31.8.22
as restated
£    £   
Stocks 7,167,502 6,881,884

BULL HOMES LTD (REGISTERED NUMBER: 08654203)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
as restated
£    £   
Other debtors 58,500 25,000
Value added tax 3,137 9,260
Accrued income - 633,000
Prepayments - 57,213
61,637 724,473

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
as restated
£    £   
Bank loans and overdrafts (see note 9) 10,000 10,000
Other loans (see note 9) 1,315,908 2,616,068
Hire purchase contracts 9,451 -
Trade creditors 43,746 446
Amounts owed to related companies 1,397,605 1,365,765
Taxation 2,100 53,186
Other creditors - 8,500
Directors' current accounts 1,841,143 1,982
4,619,953 4,055,947

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
as restated
£    £   
Bank loans (see note 9) 19,167 29,167
Hire purchase contracts 57,338 -
Directors' loan accounts - 525,000
76,505 554,167

9. LOANS

An analysis of the maturity of loans is given below:

31.8.23 31.8.22
as restated
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000
Mortgage loan 1,315,908 2,616,068
1,325,908 2,626,068

Amounts falling due between one and two years:
Bank loans - 1-2 years 19,167 29,167

BULL HOMES LTD (REGISTERED NUMBER: 08654203)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2023

10. PROVISIONS FOR LIABILITIES
31.8.23 31.8.22
as restated
£    £   
Deferred tax
Accelerated capital allowances 13,236 -

Deferred
tax
£   
Provided during year 13,236
Balance at 31 August 2023 13,236

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: as restated
£    £   
100 Ordinary £1 100 100

12. RESERVES
Retained
earnings
£   

At 1 September 2022 3,944,812
Prior year adjustment (800,000 )
3,144,812
Deficit for the year (545,916 )
At 31 August 2023 2,598,896

During the year, two related companies wrote of loans owed by the Bull Homes Ltd amounting to £3,294,800.

13. ULTIMATE CONTROLLING PARTY

The controlling party is SJB Group & Holdings Ltd.