Yorkshire Choice Homes Limited 13819888 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is development of building projects. Digita Accounts Production Advanced 6.30.9574.0 true false false true 13819888 2023-04-01 2024-03-31 13819888 2024-03-31 13819888 core:RetainedEarningsAccumulatedLosses 2024-03-31 13819888 core:ShareCapital 2024-03-31 13819888 core:CurrentFinancialInstruments 2024-03-31 13819888 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 13819888 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 13819888 core:AdditionsToInvestments 2024-03-31 13819888 core:CostValuation 2024-03-31 13819888 bus:SmallEntities 2023-04-01 2024-03-31 13819888 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 13819888 bus:FullAccounts 2023-04-01 2024-03-31 13819888 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13819888 bus:RegisteredOffice 2023-04-01 2024-03-31 13819888 bus:Director2 2023-04-01 2024-03-31 13819888 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13819888 1 2023-04-01 2024-03-31 13819888 countries:EnglandWales 2023-04-01 2024-03-31 13819888 core:CostValuation 2023-03-31 13819888 2021-12-29 2023-03-31 13819888 2023-03-31 13819888 core:RetainedEarningsAccumulatedLosses 2023-03-31 13819888 core:ShareCapital 2023-03-31 13819888 core:CurrentFinancialInstruments 2023-03-31 13819888 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13819888 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 13819888

Yorkshire Choice Homes Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Yorkshire Choice Homes Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Yorkshire Choice Homes Limited

(Registration number: 13819888)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

9

8

Current assets

 

Debtors (including £3,382,749 (2023: £1,610,746) due after one year)

5

6,833,698

3,132,802

Cash at bank and in hand

 

2,798

29,196

 

6,836,496

3,161,998

Creditors: Amounts falling due within one year

6

(6,905,220)

(272,938)

Net current (liabilities)/assets

 

(68,724)

2,889,060

Total assets less current liabilities

 

(68,715)

2,889,068

Creditors: Amounts falling due after more than one year

6

-

(2,961,938)

Net liabilities

 

(68,715)

(72,870)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(68,815)

(72,970)

Shareholders' deficit

 

(68,715)

(72,870)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 September 2024 and signed on its behalf by:
 

 

Yorkshire Choice Homes Limited

(Registration number: 13819888)
Balance Sheet as at 31 March 2024

.........................................
Ms JE Ismail
Director

 

Yorkshire Choice Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 2 Block C
14 Hulme Street
Salford
Greater Manchester
M5 4ZG
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent, qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by its parent companies. The directors consider that these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.

 

Yorkshire Choice Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Investments

Investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss. A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

4

Investments

2024
£

2023
£

Investments in subsidiaries

9

8

Subsidiaries

£

Cost or valuation

At 1 April 2023

8

Additions

1

At 31 March 2024

9

Carrying amount

At 31 March 2024

9

At 31 March 2023

8

 

Yorkshire Choice Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Details of undertakings

Proportion of voting rights

Undertaking

Holding

and shares held

Subsidiary undertaking

2024

2023

Principal Activity

Yorkshire Choice Homes Construction Limited

Ordinary

100%

100%

Development of building projects

Yorkshire Choice Homes SPV 1 Limited

Ordinary

100%

100%

Development of building projects

Yorkshire Choice Homes SPV 2 Limited

Ordinary

100%

100%

Development of building projects

Yorkshire Choice Homes SPV 3 Limited

Ordinary

100%

100%

Development of building projects

Yorkshire Choice Homes SPV 4 Limited

Ordinary

100%

100%

Development of building projects

Yorkshire Choice Homes SPV 5 Limited

Ordinary

100%

100%

Development of building projects

Yorkshire Choice Homes SPV 6 Limited

Ordinary

100%

100%

Development of building projects

Yorkshire Choice Homes SPV 7 Limited

Ordinary

100%

100%

Development of building projects

Yorkshire Choice Homes SPV 8 Limited

Ordinary

100%

0%

Development of building projects

5

Debtors

2024
£

2023
£

Owed by group undertakings

6,065,680

3,021,689

Prepayments

767,968

111,063

Other debtors

50

50

6,833,698

3,132,802

Details of non-current trade and other debtors

£3,382,749 (2023: £1,610,746) of 'Owed by group undertakings' is classified as non current.

 

Yorkshire Choice Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

 

Trade creditors

 

6,254

26,566

Amounts owed to group undertakings

6,083,680

2

Accruals and deferred income

 

815,286

246,370

 

6,905,220

272,938

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Amounts owed to related parties

-

2,961,938

Included within owed to related parties is £5,873,464 (2023: £2,961,938) in relation to a loan which is secured by a first legal mortgage dated 17 May 2022, 30 January 2023 and 18 April 2023 by Salboy Partnerships Limited, securing any monies due to them.

The legal mortgages created a fixed and floating charge over the company’s freehold or leasehold land and property which is owned by Yorkshire Choice Homes SPV 1 Limited, and ‘Westfield Lane, Wyke’ which is owned by Yorkshire Choice Homes SPV 2 Limited. As well as the above, a floating charge over all the property or undertakings of the company.

7

Parent and ultimate parent undertaking

The company is owned by Salboy Partnerships Limited, J Begg Holdings Limited and D Begg Holdings Limited who between them own 100% of the issued share capital. In the opinion of the directors there is no ultimate controlling party.

Salboy Partnerships Limited is a company incorporated in England and Wales, company number 13626842, registered office Unit 2 Block C, 14 Hulme Street, Salford, Manchester, England, M5 4ZG.

J Begg Holdings Limited is a company incorporated in England and Wales, company number 12035253, registered office Unit 7 Courtyard 31, Pontefract Road, Normanton, United Kingdom, WF6 1JU

D Begg Holdings Limited is a company incorporated in England and Wales, company number 12035224, registered office Unit 7 Courtyard 31, Pontefract Road, Normanton, United Kingdom, WF6 1JU