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Company registration number: 02783991
Cleveland Homes (No.4) Limited
Unaudited filleted financial statements
05 April 2024
Cleveland Homes (No.4) Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Cleveland Homes (No.4) Limited
Directors and other information
Directors Mr R C H Ferard
Mr D G Ferard
Mrs S C Ferard
Mrs T J Ferard
Secretary Mr D G Ferard
Company number 02783991
Registered office 21 Yarm Road
Stockton on Tees
TS18 3NJ
Accountants Censis
Exchange Building
66 Church Street
Hartlepool
TS24 7DN
Cleveland Homes (No.4) Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Cleveland Homes (No.4) Limited
Year ended 5 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cleveland Homes (No.4) Limited for the year ended 5 April 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Cleveland Homes (No.4) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Cleveland Homes (No.4) Limited and state those matters that we have agreed to state to the board of directors of Cleveland Homes (No.4) Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cleveland Homes (No.4) Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Cleveland Homes (No.4) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Cleveland Homes (No.4) Limited. You consider that Cleveland Homes (No.4) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Cleveland Homes (No.4) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Censis
Chartered Accountants
Exchange Building
66 Church Street
Hartlepool
TS24 7DN
30 August 2024
Cleveland Homes (No.4) Limited
Statement of financial position
5 April 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 2,505,838 2,531,297
_______ _______
2,505,838 2,531,297
Current assets
Debtors 6 178,135 148,961
Cash at bank and in hand 85,603 -
_______ _______
263,738 148,961
Creditors: amounts falling due
within one year 7 ( 47,333) ( 34,538)
_______ _______
Net current assets 216,405 114,423
_______ _______
Total assets less current liabilities 2,722,243 2,645,720
_______ _______
Net assets 2,722,243 2,645,720
_______ _______
Capital and reserves
Called up share capital 514,282 514,282
Profit and loss account 2,207,961 2,131,438
_______ _______
Shareholders funds 2,722,243 2,645,720
_______ _______
For the year ending 05 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 30 August 2024 , and are signed on behalf of the board by:
Mr D G Ferard
Director
Company registration number: 02783991
Cleveland Homes (No.4) Limited
Notes to the financial statements
Year ended 5 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 21 Yarm Road, Stockton on Tees, TS18 3NJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Furniture - 35 % reducing balance
Fixtures - 35 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 5 ).
5. Tangible assets
Freehold property Fixtures, fittings and equipment Tangible assets - user defined Total
£ £ £ £
Cost or valuation
At 6 April 2023 2,531,030 71,347 15,769 2,618,146
Additions 31,055 - - 31,055
Revaluation ( 56,421) - - ( 56,421)
_______ _______ _______ _______
At 5 April 2024 2,505,664 71,347 15,769 2,592,780
_______ _______ _______ _______
Depreciation
At 6 April 2023 - 71,100 15,749 86,849
Charge for the year - 86 7 93
_______ _______ _______ _______
At 5 April 2024 - 71,186 15,756 86,942
_______ _______ _______ _______
Carrying amount
At 5 April 2024 2,505,664 161 13 2,505,838
_______ _______ _______ _______
At 5 April 2023 2,531,030 247 20 2,531,297
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Other debtors 178,135 148,961
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Corporation tax 44,345 31,550
Other creditors 2,988 2,988
_______ _______
47,333 34,538
_______ _______
8. Related party transactions
During the year there were a number of transactions between Cleveland Homes (No.4) Limited and Phoenix Properties (NE) Ltd in which RCH Ferard & DG Ferard have an interest. These transactions gave rise to a balance owed to the company at the year end of £178,135.In 2023 there were a number of transactions between Cleveland Homes (No.4) Limited and Phoenix Properties (NE) Ltd in which RCH Ferard & DG Ferard have an interest. These transactions gave rise to a balance owed to the company at the year end of £148,961.Interest is charged at a commercial rate on any outstanding balances.
9. Controlling party
For the whole year the company was under the control of the directors.