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Registration number: 13820013

Yorkshire Choice Homes Construction Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Yorkshire Choice Homes Construction Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Yorkshire Choice Homes Construction Limited

(Registration number: 13820013)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

561,868

408,565

Current assets

 

Stocks

5

101,580

160

Debtors

6

2,531,188

979,411

Cash at bank and in hand

 

22,425

26,219

 

2,655,193

1,005,790

Creditors: Amounts falling due within one year

7

(963,034)

(304,687)

Net current assets

 

1,692,159

701,103

Total assets less current liabilities

 

2,254,027

1,109,668

Creditors: Amounts falling due after more than one year

7

(2,027,790)

(1,015,733)

Provisions for liabilities

(130,131)

-

Net assets

 

96,106

93,935

Capital and reserves

 

Called up share capital

1

1

Retained earnings

96,105

93,934

Shareholders' funds

 

96,106

93,935

 

Yorkshire Choice Homes Construction Limited

(Registration number: 13820013)
Balance Sheet as at 31 March 2024

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 24 September 2024 and signed on its behalf by:
 

.........................................
Mr J C Begg
Director

 

Yorkshire Choice Homes Construction 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.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and
provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value
added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Yorkshire Choice Homes Construction Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets less estimated residual value, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

Various rates

Motor Vehicles

25% reducing balance

Plant and Machinery

33% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Yorkshire Choice Homes Construction Limited

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

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 12).

 

Yorkshire Choice Homes Construction Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

24,729

86,949

353,294

464,972

Additions

28,406

70,420

192,795

291,621

At 31 March 2024

53,135

157,369

546,089

756,593

Depreciation

At 1 April 2023

4,527

12,204

39,676

56,407

Charge for the year

8,304

23,904

106,110

138,318

At 31 March 2024

12,831

36,108

145,786

194,725

Carrying amount

At 31 March 2024

40,304

121,261

400,303

561,868

At 31 March 2023

20,202

74,745

313,618

408,565

5

Stocks

2024
£

2023
£

Work in progress

101,580

160

6

Debtors

2024
£

2023
£

Trade debtors

20,070

-

Prepayments

1,693

1,736

Other debtors

2,509,425

977,675

 

2,531,188

979,411

 

Yorkshire Choice Homes Construction Limited

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

 

Loans and borrowings

124,564

83,669

Trade creditors

 

181,460

64,766

Amounts owed to group undertakings

380,000

80,000

Taxation and social security

 

34,416

15,073

Accruals and deferred income

 

221,883

54,667

Other creditors

 

20,711

6,512

 

963,034

304,687

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

 

Loans and borrowings

251,877

237,494

Amounts owed to group undertakings

 

1,775,913

778,239

 

2,027,790

1,015,733

Loans and borrowings include £376,441 (2023: £321,163) of hire purchase liabilities which are secured against the assets to which they relate.

8

Parent and ultimate parent undertaking

The immediate parent company is Yorkshire Choice Homes Limited. The share capital of Yorkshire Choice Limited is owned jointly by Salboy Partnerships Limited, J Begg Limited and D Begg Limited. In the opinion of the directors there is no ultimate controlling party.

Salboy Partnerships 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