B. B. Homes (UK) Limited 05135554 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is property development and letting Digita Accounts Production Advanced 6.30.9574.0 true true 05135554 2022-11-01 2023-10-31 05135554 2023-10-31 05135554 bus:OrdinaryShareClass1 2023-10-31 05135554 core:RetainedEarningsAccumulatedLosses 2023-10-31 05135554 core:RevaluationReserve 2023-10-31 05135554 core:ShareCapital 2023-10-31 05135554 core:CurrentFinancialInstruments 2023-10-31 05135554 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 05135554 core:ParentEntities 2023-10-31 05135554 bus:SmallEntities 2022-11-01 2023-10-31 05135554 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 05135554 bus:FullAccounts 2022-11-01 2023-10-31 05135554 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 05135554 bus:RegisteredOffice 2022-11-01 2023-10-31 05135554 bus:Director3 2022-11-01 2023-10-31 05135554 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 05135554 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 05135554 core:ParentEntities 2022-11-01 2023-10-31 05135554 1 2022-11-01 2023-10-31 05135554 countries:England 2022-11-01 2023-10-31 05135554 2022-10-31 05135554 core:ParentEntities 2022-10-31 05135554 2021-11-01 2022-10-31 05135554 2022-10-31 05135554 bus:OrdinaryShareClass1 2022-10-31 05135554 core:RetainedEarningsAccumulatedLosses 2022-10-31 05135554 core:RevaluationReserve 2022-10-31 05135554 core:ShareCapital 2022-10-31 05135554 core:CurrentFinancialInstruments 2022-10-31 05135554 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 05135554 core:ParentEntities 2022-10-31 05135554 2021-10-31 05135554 core:ParentEntities 2021-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05135554

B. B. Homes (UK) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

B. B. Homes (UK) Limited

(Registration number: 05135554)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

455,000

455,000

Current assets

 

Debtors

5

13,438

1,844

Cash at bank and in hand

 

15,960

22,547

 

29,398

24,391

Creditors: Amounts falling due within one year

6

(201,771)

(203,620)

Net current liabilities

 

(172,373)

(179,229)

Total assets less current liabilities

 

282,627

275,771

Provisions for liabilities

(1,648)

(1,648)

Net assets

 

280,979

274,123

Capital and reserves

 

Called up share capital

7

2

2

Revaluation reserve

47,872

47,872

Retained earnings

233,105

226,249

Shareholders' funds

 

280,979

274,123

For the financial 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.

Director's 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 director acknowledges his 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.

Approved and authorised by the director on 31 July 2024
 

.........................................
Ryan John James Dall
Director

 

B. B. Homes (UK) Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
54 Bootham
YORK
YO30 7XZ

These financial statements were authorised for issue by the director on 31 July 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 sale of servises in the ordinary course of the company’s activities. Turnover is shown net of returns, rebates and discounts.

Rental income is recognised based on the rental period.

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.

Deferred tax is calculated on revaluations of the investment properties and is debited to the profit and loss account before being transfered to the revaluation reserve.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annully by external valuers. The valuers use observble market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the protit and loss.

 

B. B. Homes (UK) Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

B. B. Homes (UK) Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 1).

4

Investment properties

2023
£

At 1 November

455,000

At 31 October

455,000


The investment properties were valued Adam Steadman-Lloyd at Hunters Estate Agents, based on open market value as at 31 October 2022. The director has assessed the fair value of the properties at the year end and is satisfied that the revaluation price is the best measurement for the value of the properties. This assessment is based on the properties being held for a long term investment.

5

debtors

2023
£

2022
£

Trade debtors

10,216

1,116

Prepayments

824

728

Other debtors

2,398

-

13,438

1,844

 

B. B. Homes (UK) Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

161,166

161,166

Trade creditors

 

-

1,272

Taxation and social security

 

1,703

2,495

Accruals and deferred income

 

38,753

38,687

Other creditors

 

149

-

 

201,771

203,620

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

8

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Other borrowings

161,166

161,166

 

B. B. Homes (UK) Limited

Notes to the Financial Statements for the Year Ended 31 October 2023

9

Related party transactions

Loans from related parties

2023

Parent
£

Total
£

At start of period

161,166

161,166

At end of period

161,166

161,166

2022

Parent
£

Total
£

At start of period

161,166

161,166

At end of period

161,166

161,166

Terms of loans from related parties

The company has a an informal loan facility with Valley Wing Holdings which is interest free and repayable on demand. At the balance sheet date the amound due to Valley Wing Holdings was £161,166 (2022 - 161,166).
 

10

Parent and ultimate parent undertaking

The company's immediate parent is Valley Wing Holdings Limited, incorporated in Guernsey.