Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30867390084056142022-12-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseNo description of principal activity44truetruefalse 04923844 2022-12-01 2023-11-30 04923844 2021-12-01 2022-11-30 04923844 2023-11-30 04923844 2022-11-30 04923844 2021-12-01 04923844 c:Director1 2022-12-01 2023-11-30 04923844 d:FurnitureFittings 2022-12-01 2023-11-30 04923844 d:FurnitureFittings 2023-11-30 04923844 d:FurnitureFittings 2022-11-30 04923844 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 04923844 d:FreeholdInvestmentProperty 2022-12-01 2023-11-30 04923844 d:FreeholdInvestmentProperty 2023-11-30 04923844 d:FreeholdInvestmentProperty 2022-11-30 04923844 d:LeaseholdInvestmentProperty 2022-12-01 2023-11-30 04923844 d:LeaseholdInvestmentProperty 2023-11-30 04923844 d:LeaseholdInvestmentProperty 2022-11-30 04923844 d:CurrentFinancialInstruments 2023-11-30 04923844 d:CurrentFinancialInstruments 2022-11-30 04923844 d:Non-currentFinancialInstruments 2023-11-30 04923844 d:Non-currentFinancialInstruments 2022-11-30 04923844 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 04923844 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 04923844 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 04923844 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 04923844 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-11-30 04923844 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-11-30 04923844 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-11-30 04923844 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-11-30 04923844 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-11-30 04923844 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-11-30 04923844 d:ShareCapital 2022-12-01 2023-11-30 04923844 d:ShareCapital 2023-11-30 04923844 d:ShareCapital 2021-12-01 2022-11-30 04923844 d:ShareCapital 2022-11-30 04923844 d:ShareCapital 2021-12-01 04923844 d:OtherMiscellaneousReserve 2022-12-01 2023-11-30 04923844 d:OtherMiscellaneousReserve 2023-11-30 04923844 d:OtherMiscellaneousReserve 2021-12-01 2022-11-30 04923844 d:OtherMiscellaneousReserve 2022-11-30 04923844 d:OtherMiscellaneousReserve 2021-12-01 04923844 d:RetainedEarningsAccumulatedLosses 2022-12-01 2023-11-30 04923844 d:RetainedEarningsAccumulatedLosses 2023-11-30 04923844 d:RetainedEarningsAccumulatedLosses 2021-12-01 2022-11-30 04923844 d:RetainedEarningsAccumulatedLosses 2022-11-30 04923844 d:RetainedEarningsAccumulatedLosses 2021-12-01 04923844 c:OrdinaryShareClass1 2022-12-01 2023-11-30 04923844 c:OrdinaryShareClass1 2023-11-30 04923844 c:OrdinaryShareClass1 2022-11-30 04923844 c:OrdinaryShareClass2 2022-12-01 2023-11-30 04923844 c:OrdinaryShareClass2 2023-11-30 04923844 c:OrdinaryShareClass2 2022-11-30 04923844 c:FRS102 2022-12-01 2023-11-30 04923844 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 04923844 c:FullAccounts 2022-12-01 2023-11-30 04923844 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 04923844 d:OtherDeferredTax 2023-11-30 04923844 d:OtherDeferredTax 2022-11-30 04923844 6 2022-12-01 2023-11-30 04923844 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 04923844














FOSTER & PAYNE HOMES LTD
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 NOVEMBER 2023

 
FOSTER & PAYNE HOMES LTD
REGISTERED NUMBER: 04923844

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note

Fixed assets
  

Tangible assets
 4 
262
349

Investments
 5 
3,861
3,861

Investment property
 6 
4,336,950
4,202,807

  
4,341,073
4,207,017

Current assets
  

Debtors: amounts falling due within one year
 7 
632,246
600,266

Cash at bank and in hand
 8 
46,916
185,678

  
679,162
785,944

Creditors: amounts falling due within one year
 9 
(45,060)
(52,340)

Net current assets
  
 
 
634,102
 
 
733,604

Total assets less current liabilities
  
4,975,175
4,940,621

Creditors: amounts falling due after more than one year
 10 
(2,287,966)
(2,224,807)

Provisions for liabilities
  

Deferred tax
 12 
(104,644)
(104,644)

  
 
 
(104,644)
 
 
(104,644)

Net assets
  
£2,582,565
£2,611,170


Capital and reserves
  

Called up share capital 
 13 
791,072
791,072

Other reserves
 14 
716,937
716,937

Profit and loss account
 14 
1,074,556
1,103,161

  
£2,582,565
£2,611,170


Page 1

 
FOSTER & PAYNE HOMES LTD
REGISTERED NUMBER: 04923844

BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 August 2024.




___________________________
RJL Harley
Director

The notes on pages 5 to 12 form part of these financial statements.

Page 2

 
FOSTER & PAYNE HOMES LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2023


Called up share capital
Other reserves
Profit and loss account
Total equity

At 1 December 2022
791,072
716,937
1,103,161
2,611,170


Comprehensive income for the year

Profit for the year
-
-
12,158
12,158
Total comprehensive income for the year
-
-
12,158
12,158


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(40,763)
(40,763)


Total transactions with owners
-
-
(40,763)
(40,763)


At 30 November 2023
£791,072
£716,937
£1,074,556
£2,582,565


The notes on pages 5 to 12 form part of these financial statements.

Page 3

 
FOSTER & PAYNE HOMES LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2022


Called up share capital
Other reserves
Profit and loss account
Total equity

At 1 December 2021
891,072
129,931
1,068,749
2,089,752


Comprehensive income for the year

Profit for the year
-
-
662,181
662,181
Total comprehensive income for the year
-
-
662,181
662,181


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(40,763)
(40,763)

Shares redeemed during the year
(100,000)
-
-
(100,000)

Transfer to/from profit and loss account
-
587,006
(587,006)
-


Total transactions with owners
(100,000)
587,006
(627,769)
(140,763)


At 30 November 2022
£791,072
£716,937
£1,103,161
£2,611,170


The notes on pages 5 to 12 form part of these financial statements.

Page 4

 
FOSTER & PAYNE HOMES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Foster and Payne Homes Limited is a private company, limited by shares, incorporated in England and Wales. The company registration number is 04923844.
The registered office address is Webbs Warden Office, 161-165 Folkestone Road, Dover, Kent, CT17 9SZ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
FOSTER & PAYNE HOMES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25% straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
FOSTER & PAYNE HOMES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 7

 
FOSTER & PAYNE HOMES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.14

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

2023
2022

Wages and salaries
50,976
50,842

Social security costs
-
1,174

Cost of defined contribution scheme
1,253
3,753

£52,229
£55,769


The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

Page 8

 
FOSTER & PAYNE HOMES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Tangible fixed assets





Fixtures and fittings



Cost or valuation


At 1 December 2022
25,149



At 30 November 2023

25,149



Depreciation


At 1 December 2022
24,800


Charge for the year on owned assets
87



At 30 November 2023

24,887



Net book value



At 30 November 2023
£262



At 30 November 2022
£349

All of the Group's tangible fixed assets are held in the Parent company


5.


Fixed asset investments





Investments in subsidiary companies
Unlisted investments
Total



Cost or valuation


At 1 December 2022
101
3,760
3,861



At 30 November 2023
£101
£3,760
£3,861




Page 9

 
FOSTER & PAYNE HOMES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

6.


Investment property


Freehold investment property
Long term leasehold investment property
Total



Valuation


At 1 December 2022
3,335,000
867,807
4,202,807


Additions at cost
-
134,143
134,143



At 30 November 2023
3,335,000
1,001,950
4,336,950

The 2023 valuations were made by the directors, on an open market value for existing use basis.


If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows: £3,927,487 (2022 - £3,927,487).




7.


Debtors

2023
2022


Trade debtors
973
166

Amounts owed by group undertakings
229,995
229,672

Amounts owed by joint ventures and associated undertakings
247,080
259,220

Other debtors
154,198
111,208

£632,246
£600,266



8.


Cash and cash equivalents

2023
2022

Cash at bank and in hand
46,916
185,678

£46,916
£185,678


Page 10

 
FOSTER & PAYNE HOMES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

9.


Creditors: Amounts falling due within one year

2023
2022

Bank loans
11,220
11,220

Corporation tax
1,644
12,377

Other taxation and social security
718
718

Other creditors
15,506
13,276

Accruals and deferred income
15,972
14,749

£45,060
£52,340



10.


Creditors: Amounts falling due after more than one year

2023
2022

Bank loans
2,129,732
2,048,557

Other creditors
158,234
176,250

£2,287,966
£2,224,807



11.


Loans


Analysis of the maturity of loans is given below:


2023
2022

Amounts falling due within one year

Bank loans
11,220
11,220

Amounts falling due 1-2 years

Bank loans
11,220
11,220

Amounts falling due 2-5 years

Bank loans
13,098
21,964

Amounts falling due after more than 5 years

Bank loans
2,105,414
2,015,373

£2,140,952
£2,059,777



12.


Deferred taxation




2023





At beginning of year
(104,644)



At end of year
£(104,644)

Page 11

 
FOSTER & PAYNE HOMES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
 
12.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022


Other item - user input 1
(104,644)
(104,644)

£(104,644)
£(104,644)


13.


Share capital

2023
2022
Allotted, called up and fully paid



348 (2022 - 348) ordinary shares of £1.00 each
348
348
790,724 (2022 - 790,724) 0% preference shares of £1.00 each
790,724
790,724

£791,072

£791,072



14.


Reserves

Other reserves

Other reserves represent non-distributable reserves arising on the revaluation of the investment properties net of the associated deferred tax liability.

Profit and loss account

The profit and loss account represents the accumulated profits and losses from prior periods.


15.


Pension commitments

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group  in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £1,253 (2022 - £1,253). Contributions totalling £244 (2022 - £244) were payable to the fund at the balance sheet date and are included in creditors.

Page 12