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REGISTERED NUMBER: 04558349 (England and Wales)















Unaudited Financial Statements

for the Period 1 July 2023 to 31 March 2024

for

ADVANCED PROPERTY CONSTRUCTION LIMITED

PREVIOUSLY KNOWN AS
SCANDIA HUS MANUFACTURING LIMITED

ADVANCED PROPERTY CONSTRUCTION LIMITED (REGISTERED NUMBER: 04558349)
PREVIOUSLY KNOWN AS SCANDIA HUS MANUFACTURING LIMITED






Contents of the Financial Statements
for the period 1 July 2023 to 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ADVANCED PROPERTY CONSTRUCTION LIMITED
PREVIOUSLY KNOWN AS SCANDIA HUS MANUFACTURING LIMITED

Company Information
for the period 1 July 2023 to 31 March 2024







DIRECTOR: P R Dawson





SECRETARY: M Dawson





REGISTERED OFFICE: Preston Park House
South Road
Brighton
East Sussex
BN1 6SB





REGISTERED NUMBER: 04558349 (England and Wales)





ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB

ADVANCED PROPERTY CONSTRUCTION LIMITED (REGISTERED NUMBER: 04558349)
PREVIOUSLY KNOWN AS SCANDIA HUS MANUFACTURING LIMITED

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 17,518 11,302
Investment property 5 1,000,000 1,000,000
1,017,518 1,011,302

CURRENT ASSETS
Stocks 6 - 400,577
Debtors 7 74,557 334,040
Cash at bank and in hand 37,510 17,542
112,067 752,159
CREDITORS
Amounts falling due within one year 8 (817,001 ) (993,696 )
NET CURRENT LIABILITIES (704,934 ) (241,537 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

312,584

769,765

CREDITORS
Amounts falling due after more than one
year

9

(12,204

)

(42,834

)

PROVISIONS FOR LIABILITIES 12 - (75,000 )
NET ASSETS 300,380 651,931

CAPITAL AND RESERVES
Called up share capital 13 120 120
Revaluation reserve 14 300,000 300,000
Retained earnings 260 351,811
SHAREHOLDERS' FUNDS 300,380 651,931

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ADVANCED PROPERTY CONSTRUCTION LIMITED (REGISTERED NUMBER: 04558349)
PREVIOUSLY KNOWN AS SCANDIA HUS MANUFACTURING LIMITED

Balance Sheet - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 September 2024 and were signed by:





P R Dawson - Director


ADVANCED PROPERTY CONSTRUCTION LIMITED (REGISTERED NUMBER: 04558349)
PREVIOUSLY KNOWN AS SCANDIA HUS MANUFACTURING LIMITED

Notes to the Financial Statements
for the period 1 July 2023 to 31 March 2024

1. STATUTORY INFORMATION

Scandia Hus Manufacturing Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentational currency of the financial statements is the Pound Sterling (£).

Monetary amounts in these financial statements are rounded to the nearest pound.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

In respect of sales of house kits, turnover is recognised at the point of delivery to the customer, or on completion of manufacture where the building is being held on behalf of the customer, whichever is the earlier. In respect of sundry sales and trade counter sales, turnover is recognised when goods and services are provided.

Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

ADVANCED PROPERTY CONSTRUCTION LIMITED (REGISTERED NUMBER: 04558349)
PREVIOUSLY KNOWN AS SCANDIA HUS MANUFACTURING LIMITED

Notes to the Financial Statements - continued
for the period 1 July 2023 to 31 March 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its useful life or, if held under a finance lease, over the lease term, whichever is the shorter. The effect of not providing for depreciation on short leasehold and improvements to property is not material to the financial statements.

Improvements to property - 10% on cost
Fixtures and fittings -20% straight line
Motor vehicles -20% straight line
Plant and machinery-20% straight line

Impairment policy
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks and work in progress are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Stock comprises of timber, steel and other items used in the construction of timber framed houses.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an
asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original
effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any
impairment loss is the current effective interest rate determined under the contract. If evidence of impairment is
found, an impairment loss is recognised in the profit and loss account.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between
an asset's carrying amount and best estimate, which is an approximation of the amount that the company would
receive for the asset if it were to be sold at the balance sheet date. If evidence of impairment is found, an
impairment loss is recognised in the profit and loss account.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an
enforceable right to set off the recognised amounts and there is an intention to settle on a net basis as to realise
the asset and settle the liability simultaneously.

ADVANCED PROPERTY CONSTRUCTION LIMITED (REGISTERED NUMBER: 04558349)
PREVIOUSLY KNOWN AS SCANDIA HUS MANUFACTURING LIMITED

Notes to the Financial Statements - continued
for the period 1 July 2023 to 31 March 2024

2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension plan for its employees. A defined contribution pension plan is a pension plan under which the company pays contributions into a separate entity. Once the contributions have been paid, the company has no further obligations.

The contributions are recognised as an expense in the income statement when they fall due. Amounts owed but not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs
are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services
are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably
committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 13 (2023 - 22 ) .

ADVANCED PROPERTY CONSTRUCTION LIMITED (REGISTERED NUMBER: 04558349)
PREVIOUSLY KNOWN AS SCANDIA HUS MANUFACTURING LIMITED

Notes to the Financial Statements - continued
for the period 1 July 2023 to 31 March 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2023 132,449 503,805 70,970 285,499 992,723
Additions - 21,899 - - 21,899
Disposals (132,449 ) (485,857 ) (70,970 ) (247,237 ) (936,513 )
At 31 March 2024 - 39,847 - 38,262 78,109
DEPRECIATION
At 1 July 2023 130,499 499,099 66,324 285,499 981,421
Charge for period - 6,773 - - 6,773
Eliminated on disposal (130,499 ) (483,543 ) (66,324 ) (247,237 ) (927,603 )
At 31 March 2024 - 22,329 - 38,262 60,591
NET BOOK VALUE
At 31 March 2024 - 17,518 - - 17,518
At 30 June 2023 1,950 4,706 4,646 - 11,302

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2023 17,948 56,800 74,748
Disposals - (56,800 ) (56,800 )
At 31 March 2024 17,948 - 17,948
DEPRECIATION
At 1 July 2023 15,555 56,799 72,354
Charge for period 2,393 - 2,393
Eliminated on disposal - (56,799 ) (56,799 )
At 31 March 2024 17,948 - 17,948
NET BOOK VALUE
At 31 March 2024 - - -
At 30 June 2023 2,393 1 2,394

ADVANCED PROPERTY CONSTRUCTION LIMITED (REGISTERED NUMBER: 04558349)
PREVIOUSLY KNOWN AS SCANDIA HUS MANUFACTURING LIMITED

Notes to the Financial Statements - continued
for the period 1 July 2023 to 31 March 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 31 March 2024 1,000,000
NET BOOK VALUE
At 31 March 2024 1,000,000
At 30 June 2023 1,000,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2023 300,000
Cost 700,000
1,000,000

6. STOCKS
2024 2023
£    £   
Raw materials - 398,857
Work-in-progress - 1,720
- 400,577

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 45,731 246,256
Other debtors - 3,267
Directors' current accounts - 21,132
Tax 3,250 3,839
VAT 15,235 -
Prepayments & accrued income 10,341 59,546
74,557 334,040

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,205 370,719
Hire purchase contracts (see note 10) - 8,828
Trade creditors 117,101 395,769
Taxation and social security - 21,318
Other creditors 689,695 197,062
817,001 993,696

ADVANCED PROPERTY CONSTRUCTION LIMITED (REGISTERED NUMBER: 04558349)
PREVIOUSLY KNOWN AS SCANDIA HUS MANUFACTURING LIMITED

Notes to the Financial Statements - continued
for the period 1 July 2023 to 31 March 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 12,204 19,908
Hire purchase contracts (see note 10) - 22,926
12,204 42,834

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year - 8,828
Between one and five years - 22,926
- 31,754

Non-cancellable operating leases
2024 2023
£    £   
Within one year - 76,562

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 22,409 390,627
Hire purchase contracts - 31,754
22,409 422,381

The company's bank, National Westminster Bank plc, holds a fixed and floating charge over all property
owned by the entity.

The hire purchases are secured against the assets for which the payments are made.

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - 75,000

ADVANCED PROPERTY CONSTRUCTION LIMITED (REGISTERED NUMBER: 04558349)
PREVIOUSLY KNOWN AS SCANDIA HUS MANUFACTURING LIMITED

Notes to the Financial Statements - continued
for the period 1 July 2023 to 31 March 2024

12. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 July 2023 75,000
Accelerated capital allowances
Provision movement (75,000 )
Balance at 31 March 2024 -

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
10 Ordinary A £1 10 10
10 Ordinary B £1 10 10
120 120

14. RESERVES
Revaluation
reserve
£   
At 1 July 2023
and 31 March 2024 300,000

15. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 March 2024 and the year ended 30 June 2023:

2024 2023
£    £   
P R Dawson
Balance outstanding at start of period 21,132 397
Amounts advanced - 21,132
Amounts repaid (21,132 ) (397 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - 21,132

During the year interest of £62 (2022: £396) was charged on the loan.

Interest is charged at the official rate of interest and the loan is repayable on demand.

ADVANCED PROPERTY CONSTRUCTION LIMITED (REGISTERED NUMBER: 04558349)
PREVIOUSLY KNOWN AS SCANDIA HUS MANUFACTURING LIMITED

Notes to the Financial Statements - continued
for the period 1 July 2023 to 31 March 2024

16. RELATED PARTY DISCLOSURES

P Dawson controls/jointly controls Advanced Property Construction Limited and Holmleigh Developments Limited.

During the year, Advanced Property Construction Limited was advanced £165,138 by Holmleigh Developments Limited. The amount oustanding at 31 March 2024 was £165,138 (30 June 2023: Nil).