IRIS Accounts Production v24.2.0.383 07148071 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh071480712022-12-31071480712023-12-31071480712023-01-012023-12-31071480712021-12-31071480712022-01-012022-12-31071480712022-12-3107148071ns15:EnglandWales2023-01-012023-12-3107148071ns14:PoundSterling2023-01-012023-12-3107148071ns10:Director12023-01-012023-12-3107148071ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3107148071ns10:SmallEntities2023-01-012023-12-3107148071ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3107148071ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3107148071ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3107148071ns10:FullAccounts2023-01-012023-12-3107148071ns10:OrdinaryShareClass12023-01-012023-12-3107148071ns10:Director22023-01-012023-12-3107148071ns10:Director32023-01-012023-12-3107148071ns10:RegisteredOffice2023-01-012023-12-3107148071ns5:CurrentFinancialInstruments2023-12-3107148071ns5:CurrentFinancialInstruments2022-12-3107148071ns5:ShareCapital2023-12-3107148071ns5:ShareCapital2022-12-3107148071ns5:RetainedEarningsAccumulatedLosses2023-12-3107148071ns5:RetainedEarningsAccumulatedLosses2022-12-3107148071ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3107148071ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3107148071ns5:CurrentFinancialInstruments2023-01-012023-12-3107148071ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 07148071 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2023

for

FIGUREHEAD HOMES LIMITED

FIGUREHEAD HOMES LIMITED (REGISTERED NUMBER: 07148071)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FIGUREHEAD HOMES LIMITED

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







Directors: Mr C J Baybutt
Mr J Melling
Mr M Baybutt





Registered office: Greenbank House
152 Wigan Lane
Wigan
Lancashire
WN1 2LA





Registered number: 07148071 (England and Wales)





Accountants: NRB
1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ

FIGUREHEAD HOMES LIMITED (REGISTERED NUMBER: 07148071)

Balance Sheet
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £   
CURRENT ASSETS
Debtors 4 23,579,933 15,260,665
Cash at bank and in hand 1,333,664 9,882,591
24,913,597 25,143,256
CREDITORS
Amounts falling due within one year 5 27,104,118 27,139,903
NET CURRENT LIABILITIES (2,190,521 ) (1,996,647 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,190,521

)

(1,996,647

)

CAPITAL AND RESERVES
Called up share capital 6 1 1
Retained earnings (2,190,522 ) (1,996,648 )
SHAREHOLDERS' FUNDS (2,190,521 ) (1,996,647 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





Mr M Baybutt - Director


FIGUREHEAD HOMES LIMITED (REGISTERED NUMBER: 07148071)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Figurehead Homes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company meets it's day to day working capital requirements through the support of other related companies and the Baybutt Family Trusts. On the basis of this review and the continued support of the Baybutt Family Trusts and other related companies, the directors consider it appropriate to prepare the financial statements on the going concern basis.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities. Revenue in respect of the sale of residential properties is recognised at the fair value of the consideration received or receivable on legal completion. Profit is recognised on legal completion.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Short term debtors and creditors receivable
Short term debtors and creditors with no stated interest rate are recorded at the transaction price. Any losses arising from impairment are recognised in the income statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed by related parties 23,574,779 13,705,418
Other debtors - 1,550,428
VAT 4,512 2,839
Prepayments 642 1,980
23,579,933 15,260,665

FIGUREHEAD HOMES LIMITED (REGISTERED NUMBER: 07148071)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 11,563 -
Other creditors 27,092,555 27,139,903
27,104,118 27,139,903

Included within other creditors is a loan of £26,662,708 (2022 - £26,662,708) with the Baybutt Family Trusts. This loan is interest free and payable on demand.

The creditor has been treated as falling due within one year as this is the technical legal status at the balance sheet date. Subsequent to the year end the directors have confirmed that as in previous years they will provide sufficient financing to support the company for the 12 months following the approval of these accounts.

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1 Ordinary £1 1 1

7. CONTROLLING INTEREST

As majority shareholders of Helium Miracle 100 Limited the Trustees of the Baybutt Family Trusts have a controlling interest in the company.