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Registered number: 05037448










BALMCREST HOMES LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
BALMCREST HOMES LIMITED
REGISTERED NUMBER: 05037448

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 7 
521
521

Cash at bank and in hand
  
581
529

  
1,102
1,050

Creditors: amounts falling due within one year
 8 
(1,979)
(29,044)

Net current liabilities
  
 
 
(877)
 
 
(27,994)

Total assets less current liabilities
  
(877)
(27,994)

  

Net liabilities
  
(877)
(27,994)


Capital and reserves
  

Called up share capital 
  
100
100

Retained earnings
  
(977)
(28,094)

  
(877)
(27,994)


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 profit and loss account 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 9 August 2024.




Nicholas John Clwyd Griffith
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
BALMCREST HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Balmcrest Homes Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 05037448 and registered office address is The Warehouse Wyndham Arcade, St Mary Street, Cardiff, Wales, CF10 1FH
The presentation currency of the financial statements is Sterling (£).
Monetary amounts in these financial statements are rounded to the nearest £.

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

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

 
2.3

Going concern

In preparing the financial statements, the directors have considered the current financial position of the company and likely future cashflows.
The company has recorded a profit in the year but has net current liabilities and net liabilities at the statement of financial position date. The company ceased investing in property during a prior period and therefore the continuation of the company is dependent on the continuing support of its related parties.
The directors have assessed the risks facing the business from the current economic uncertainty and implemented measures to address these risks.
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.4

Taxation

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.

Page 2

 
BALMCREST HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.5

Investments

Investments held as fixed assets are stated at cost less provision for impairment.

 
2.6

Financial instruments

Basic financial assets, which include cash and bank balances, are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Basic financial liabilities, including other creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.


3.


Employees




The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).




4.

Exceptional Items

2023
2022
        £
        £
Amounts written back in respect of related party balance

2,300

1,500
 


5.


Taxation

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 31 December 2023 nor for the year ended 31 December 2022.

Page 3

 
BALMCREST HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.

Fixed asset investments

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:
Balmcrest Estates Management Limited
Registered office: United Kingdom
Nature of business: Property investment ceased in a prior year.
Class of shares: Ordinary
% Holding:  100.00 

2023
2022
        £
        £
Aggregate capital and reserves

-

(289,632)
 
Loss for the year

-

(6,712)
 




7.


Debtors

2023
2022
£
£


Deferred tax asset recoverable
521
521

521
521



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
26,994

Accruals and deferred income
1,979
2,050

1,979
29,044



9.


Capital commitments

There are no capital commitments at the balance sheet date. 


10.


Post Balance Sheet Events

Balmcrest Estates Management Limited dissolved on 30 April 2024.

Page 4

 
BALMCREST HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Controlling party

The company is controlled by G Securites Limited
G Securites Limited is a wholly owned subsidiary of G Capital Limited. Mr NJC Griffith is the controlling party of G Capital Limited.


12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 16 September 2024 by James Dobson BSc FCA (Senior Statutory Auditor) on behalf of MHA Chartered Accountants & Statutory Auditors.

 
Page 5