Registered number
04325966
Homeview Cottages Limited
Unaudited Filleted Accounts
30 November 2023
Homeview Cottages Limited
Registered number: 04325966
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,028,586 631,559
Current assets
Debtors 4 1,419 1,706
Cash at bank and in hand 18,838 16,356
20,257 18,062
Creditors: amounts falling due within one year 5 (862,795) (569,213)
Net current liabilities (842,538) (551,151)
Total assets less current liabilities 186,048 80,408
Creditors: amounts falling due after more than one year 6 (100,986) -
Provisions for liabilities (768) (410)
Net assets 84,294 79,998
Capital and reserves
Called up share capital 5 5
Profit and loss account 84,289 79,993
Shareholder's funds 84,294 79,998
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A.K.Athawes
Director
Approved by the board on 8 August 2024
Homeview Cottages Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from rents receivable during the year.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 0%
Fixtures, fittings, tools and equipment 25% on written down value
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2022 629,401 12,117 641,518
Additions 395,142 3,233 398,375
At 30 November 2023 1,024,543 15,350 1,039,893
Depreciation
At 1 December 2022 - 9,959 9,959
Charge for the year - 1,348 1,348
At 30 November 2023 - 11,307 11,307
Net book value
At 30 November 2023 1,024,543 4,043 1,028,586
At 30 November 2022 629,401 2,158 631,559
4 Debtors 2023 2022
£ £
Trade debtors 5 5
Other debtors 1,414 1,701
1,419 1,706
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 13,068
Trade creditors 1,086 -
Taxation and social security costs 7,593 9,444
Other creditors 854,116 546,701
862,795 569,213
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 100,986 -
7 Loans 2023 2022
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 100,986 -
Secured bank loans 100,986 -
The bank loan is secured by a fixed charge over one freehold property.
8 Other information
Homeview Cottages Limited is a private company limited by shares and incorporated in England. Its registered office is:
Stirling house, Sunderland Quay,
Culpeper Close,
Rochester,
Kent,
ME2 4HN.
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