Registered number
14085015
Beauly Homes Limited
Filleted Accounts
31 May 2024
Beauly Homes Limited
Registered number: 14085015
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 9,324 -
Current assets
Stocks & Work in Progress 2,955,427 890,056
Debtors 4 32,198 14,562
Cash at bank and in hand 680,967 103,581
3,668,592 1,008,199
Creditors: amounts falling due within one year 5 (77,192) (23,379)
Net current assets 3,591,400 984,820
Total assets less current liabilities 3,600,724 984,820
Creditors: amounts falling due after more than one year 6 (3,792,334) (1,000,382)
Net liabilities (191,610) (15,562)
Capital and reserves
Profit and loss account (191,610) (15,562)
Shareholders' funds (191,610) (15,562)
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.
Mr I Jamie
Director
Approved by the board on 20 September 2024
Beauly Homes Limited
Notes to the Accounts
for the year ended 31 May 2024
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).
Going Concern
The majority of the company's working capital requirements are provided by a loan from Vello Limited, a related company. It is anticipated this loan will be repaid from the sale of properties, the net realisable value of which is in excess of the borrowing. The directors continue to adopt the going concern basis in preparing the financial statements which assumes that the company will continue in operation for the foreseeable future,being no less than twelve months from the date of approving these accounts. On this basis, the directors still consider that the preparation of the financial statements on the going concern basis is still appropriate.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Work in Progress
Work in Progress is stated at the lower of cost and net realisable value. Cost consists of materials, sub-contract, plant and direct labour costs.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant & Machinery Office Equipment Total
£ £ £
Cost
Additions 9,728 1,357 11,085
At 31 May 2024 9,728 1,357 11,085
Depreciation
Charge for the year 1,308 453 1,761
At 31 May 2024 1,308 453 1,761
Net book value
At 31 May 2024 8,420 904 9,324
4 Debtors 2024 2023
£ £
Other debtors 32,198 14,562
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 72,381 23,379
Taxation and social security costs 2,311 -
Other creditors 2,500 -
77,192 23,379
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 3,792,334 1,000,382
7 Other information
Beauly Homes Limited is a private company limited by shares and incorporated in England. Its registered office is:
Deighton Barn, Glevering Hall Farm
Easton Road
Hacheston
Suffolk
IP13 0EX
Beauly Homes Limited 14085015 false 2023-06-01 2024-05-31 2024-05-31 VT Final Accounts July 2024 Mr I Jamie No description of principal activity 14085015 2022-05-04 2023-05-31 14085015 core:WithinOneYear 2023-05-31 14085015 core:AfterOneYear 2023-05-31 14085015 core:RetainedEarningsAccumulatedLosses 2023-05-31 14085015 2023-06-01 2024-05-31 14085015 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 14085015 bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 14085015 bus:Director40 2023-06-01 2024-05-31 14085015 1 2023-06-01 2024-05-31 14085015 2 2023-06-01 2024-05-31 14085015 core:LandBuildings 2023-06-01 2024-05-31 14085015 core:PlantMachinery 2023-06-01 2024-05-31 14085015 countries:England 2023-06-01 2024-05-31 14085015 bus:FRS102 2023-06-01 2024-05-31 14085015 bus:FilletedAccounts 2023-06-01 2024-05-31 14085015 2024-05-31 14085015 core:WithinOneYear 2024-05-31 14085015 core:AfterOneYear 2024-05-31 14085015 core:RetainedEarningsAccumulatedLosses 2024-05-31 14085015 core:LandBuildings 2024-05-31 14085015 core:PlantMachinery 2024-05-31 14085015 2023-05-31 iso4217:GBP xbrli:pure