Beech Homes Properties and Developments Limited |
Registered number: |
11407932 |
Balance Sheet |
as at 31 December 2023 |
|
Notes |
|
|
2023 |
|
|
2022 |
£ |
£ |
Fixed assets |
Investments |
3 |
|
|
100 |
|
|
100 |
|
Current assets |
Stocks |
|
|
1,330,393 |
|
|
1,392,569 |
Debtors |
4 |
|
1,160,695 |
|
|
1,166,993 |
|
|
|
2,491,088 |
|
|
2,559,562 |
|
Creditors: amounts falling due within one year |
5 |
|
(2,611,219) |
|
|
(2,633,025) |
|
Net current liabilities |
|
|
|
(120,131) |
|
|
(73,463) |
|
Net liabilities |
|
|
|
(120,031) |
|
|
(73,363) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
1,000 |
|
|
1,000 |
Profit and loss account |
|
|
|
(121,031) |
|
|
(74,363) |
|
Shareholders' funds |
|
|
|
(120,031) |
|
|
(73,363) |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their 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. |
|
|
|
|
B Leach |
Director |
Approved by the board on 5 June 2024 |
|
Beech Homes Properties and Developments Limited |
Notes to the Accounts |
for the year ended 31 December 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). The accounts have been prepared on the going concern basis. The directors consider this to be appropriate because the company has the continued financial support of its directors and shareholders. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the sale of properties is recognised when the sale has been legally completed. |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Stock comprises the purchase of land for development, the direct materials, direct labour costs and those overheads that have been incurred in bringing the sites to their present condition. |
|
|
Financial Instruments |
|
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legal right to do so and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
|
|
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. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
4 |
|
4 |
|
|
|
|
|
|
|
|
|
|
3 |
Investments |
Investments in |
subsidiary |
undertakings |
£ |
|
Cost |
|
At 1 January 2023 |
100 |
|
|
At 31 December 2023 |
100 |
|
|
4 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
1,150,268 |
|
1,150,268 |
|
Other debtors |
10,427 |
|
16,725 |
|
|
|
|
|
|
1,160,695 |
|
1,166,993 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank loans and overdrafts |
48,204 |
|
36,003 |
|
Trade creditors |
214,082 |
|
115,748 |
|
Taxation and social security costs |
178,431 |
|
116,436 |
|
Other creditors |
2,170,502 |
|
2,364,838 |
|
|
|
|
|
|
2,611,219 |
|
2,633,025 |
|
|
|
|
|
|
|
|
|
|
6 |
Related party transactions |
|
|
Amounts owed to related parties under common directorship £2,142,440 (2022 £2,330,170). The company has taken advantage of exemptions of FRS102 section 33.1A from disclosing transactions with fellow group companies. |
|
|
7 |
Controlling party |
|
|
The company was under the control of B Leach throughout the current and previous accounting period. |
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|
8 |
Other information |
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Beech Homes Properties and Developments Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Unit 3 Deanland Business Park |
|
Deanland Road |
|
Hailsham |
|
East Sussex |
|
BN27 3RP |