Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 04128907 Mr J N Shepherd Mrs L Shepherd Forward Construction and Developments Limited true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04128907 2022-12-31 04128907 2023-12-31 04128907 2023-01-01 2023-12-31 04128907 frs-core:CurrentFinancialInstruments 2023-12-31 04128907 frs-core:ShareCapital 2023-12-31 04128907 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 04128907 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04128907 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 04128907 frs-bus:SmallEntities 2023-01-01 2023-12-31 04128907 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04128907 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04128907 1 2023-01-01 2023-12-31 04128907 frs-bus:Director1 2023-01-01 2023-12-31 04128907 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 04128907 frs-countries:EnglandWales 2023-01-01 2023-12-31 04128907 2021-12-31 04128907 2022-12-31 04128907 2022-01-01 2022-12-31 04128907 frs-core:CurrentFinancialInstruments 2022-12-31 04128907 frs-core:ShareCapital 2022-12-31 04128907 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 04128907
Planetree Homes Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 04128907
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 213,164 370,382
Cash at bank and in hand 11 436
213,175 370,818
Creditors: Amounts Falling Due Within One Year 5 (212,024 ) (365,964 )
NET CURRENT ASSETS (LIABILITIES) 1,151 4,854
TOTAL ASSETS LESS CURRENT LIABILITIES 1,151 4,854
NET ASSETS 1,151 4,854
CAPITAL AND RESERVES
Called up share capital 6 1 1
Income Statement 1,150 4,853
SHAREHOLDERS' FUNDS 1,151 4,854
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr J N Shepherd
Director
20th September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Planetree Homes Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04128907 . The registered office is The Old Laundry Lady Mary Square, Rostherne Lane, Rostherne, Knutsford, Cheshire, WA16 6SA.

The principal activity of the company is property investment and development.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention, unless otherwise specified within these accounting policies, and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Financial Instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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 of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were sold at the balance sheet date.
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the Income Statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

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 value of liabilities acquired and the amount that will be assessed for tax.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in the Income Statement, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
2.4. Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Income Statement in the year that the company becomes aware of the obligation, and are measured at the best estimate at the year end date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.
2.5. Debtors and creditors
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.

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.
2.6. 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 twenty four 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Debtors
2023 2022
£ £
Due within one year
Other debtors 305 382
Amounts owed by related undertakings 212,859 370,000
213,164 370,382
Page 4
Page 5
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 362
Other creditors - 150
Accruals and deferred income 2,125 1,515
Amounts owed to group undertakings 209,899 361,956
Amounts owed to related undertakings - 1,981
212,024 365,964
6. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
7. Related Party Transactions
Under UK GAAP the company is exempt from the requirement to disclose transactions with wholly owned members of the same group.
Working capital loans are advanced between the company and related parties from time to time.
At 31 December 2023, debtors (note 4) and creditors (note 5) includes the following amounts due from/(to) related parties:
Crest Commercial Property Limited £194,000 (2022: £370,000).
Crest Property Management Limited £18,859 (2022: £(1,981)).
These working capital financing loan balances are interest free and have no formal or fixed repayment terms.
8. Ultimate Controlling Party
The company's parent company and controlling party is Forward Construction and Developments Limited by virtue of it's ownership of 100% of the issued share capital in the company.
Page 5