2023-01-012023-12-312023-12-31false11715619Argan Homes 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Argan Homes Limited

Registered Number
11715619
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

Argan Homes Limited
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

D Arnold
J Morgan

Registered Address

8 Spur Road
Cosham
Portsmouth
PO6 3EB

Registered Number

11715619 (England and Wales)
Argan Homes Limited
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3251,293695
251,293695
Current assets
Stocks-22,108
Debtors202,3059,520
Cash at bank and on hand27,76426,682
230,06958,310
Creditors amounts falling due within one year(282,126)(5,985)
Net current assets (liabilities)(52,057)52,325
Total assets less current liabilities199,23653,020
Creditors amounts falling due after one year(196,444)(48,620)
Net assets2,7924,400
Capital and reserves
Called up share capital22
Profit and loss account2,7904,398
Shareholders' funds2,7924,400
The financial statements were approved and authorised for issue by the Board of Directors on 18 September 2024, and are signed on its behalf by:
D Arnold
Director
J Morgan
Director

Registered Company No. 11715619
Argan Homes Limited
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Office Equipment25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year22
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 January 231,648
Additions250,772
At 31 December 23252,420
Depreciation and impairment
At 01 January 23953
Charge for year174
At 31 December 231,127
Net book value
At 31 December 23251,293
At 31 December 22695