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Registered number: 13698676
Percival Homes Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
TaxAssist Accountants
TaxAssist Accountants
1 Sundorne Avenue
Shrewsbury
Shropshire
SY1 4JW
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13698676
31 October 2023 31 October 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,848 14,027
9,848 14,027
CURRENT ASSETS
Stocks 5 82,658 182,060
Debtors 6 5,461 4,001
Cash at bank and in hand 4,681 8,193
92,800 194,254
Creditors: Amounts Falling Due Within One Year 7 (307,967 ) (217,142 )
NET CURRENT ASSETS (LIABILITIES) (215,167 ) (22,888 )
TOTAL ASSETS LESS CURRENT LIABILITIES (205,319 ) (8,861 )
NET LIABILITIES (205,319 ) (8,861 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (205,419 ) (8,961 )
SHAREHOLDERS' FUNDS (205,319) (8,861)
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Martin Percival
Director
31st July 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Percival Homes Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13698676 . The registered office is 1a Newport Road, Edgmond, Newport, TF10 8HH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% Straight Line
Fixtures & Fittings 25% Straight Line
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 November 2022 10,503 8,199 18,702
Additions - 496 496
As at 31 October 2023 10,503 8,695 19,198
Depreciation
As at 1 November 2022 2,626 2,049 4,675
Provided during the period 2,626 2,049 4,675
As at 31 October 2023 5,252 4,098 9,350
Net Book Value
As at 31 October 2023 5,251 4,597 9,848
As at 1 November 2022 7,877 6,150 14,027
5. Stocks
31 October 2023 31 October 2022
£ £
Stock 82,658 182,060
Page 3
Page 4
6. Debtors
31 October 2023 31 October 2022
£ £
Due within one year
Prepayments and accrued income - 323
VAT 5,461 3,678
5,461 4,001
7. Creditors: Amounts Falling Due Within One Year
31 October 2023 31 October 2022
£ £
Trade creditors 1,147 1,295
Other taxes and social security - 1,371
Director's loan account 306,820 214,476
307,967 217,142
8. Share Capital
31 October 2023 31 October 2022
£ £
Allotted, Called up and fully paid 100 100
Page 4