Charnwood Houses Limited 10900134 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is property development. Digita Accounts Production Advanced 6.30.9574.0 true true 10900134 2023-02-01 2024-01-31 10900134 2024-01-31 10900134 bus:OrdinaryShareClass1 bus:CumulativeNon-redeemableShares 2024-01-31 10900134 core:RetainedEarningsAccumulatedLosses 2024-01-31 10900134 core:ShareCapital 2024-01-31 10900134 core:CurrentFinancialInstruments 2024-01-31 10900134 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 10900134 core:Non-currentFinancialInstruments 2024-01-31 10900134 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 10900134 core:OtherPropertyPlantEquipment 2024-01-31 10900134 bus:SmallEntities 2023-02-01 2024-01-31 10900134 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 10900134 bus:FilletedAccounts 2023-02-01 2024-01-31 10900134 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 10900134 bus:RegisteredOffice 2023-02-01 2024-01-31 10900134 bus:Director1 2023-02-01 2024-01-31 10900134 bus:Director2 2023-02-01 2024-01-31 10900134 bus:OrdinaryShareClass1 bus:CumulativeNon-redeemableShares 2023-02-01 2024-01-31 10900134 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 10900134 core:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 10900134 core:PlantMachinery 2023-02-01 2024-01-31 10900134 core:OtherRelatedParties 2023-02-01 2024-01-31 10900134 countries:EnglandWales 2023-02-01 2024-01-31 10900134 2023-01-31 10900134 core:OtherPropertyPlantEquipment 2023-01-31 10900134 2022-02-01 2023-01-31 10900134 2023-01-31 10900134 bus:OrdinaryShareClass1 bus:CumulativeNon-redeemableShares 2023-01-31 10900134 core:RetainedEarningsAccumulatedLosses 2023-01-31 10900134 core:ShareCapital 2023-01-31 10900134 core:CurrentFinancialInstruments 2023-01-31 10900134 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 10900134 core:Non-currentFinancialInstruments 2023-01-31 10900134 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 10900134 core:OtherPropertyPlantEquipment 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10900134

Charnwood Houses Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Charnwood Houses Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Charnwood Houses Limited

Company Information

Directors

D. J. Sear-Mayes

F. M. Sear-Mayes

Registered office

5 Armston Road
Quorn
Loughborough
Leicestershire
LE12 8QP

Accountants

Robert Whowell & Partners LLP
Chartered Accountants
Westwood House
78 Loughborough Road
Quorn
Loughborough
Leicestershire
LE12 8DX

 

Charnwood Houses Limited

(Registration number: 10900134)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

39,302

56,092

Current assets

 

Stocks

5

13,859

216,886

Debtors

6

607,660

593,505

Cash at bank and in hand

 

1,159

3,379

 

622,678

813,770

Creditors: Amounts falling due within one year

7

(589,728)

(654,580)

Net current assets

 

32,950

159,190

Total assets less current liabilities

 

72,252

215,282

Creditors: Amounts falling due after more than one year

7

(15,833)

(25,000)

Provisions for liabilities

-

(10,658)

Net assets

 

56,419

179,624

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

56,319

179,524

Shareholders' funds

 

56,419

179,624

 

Charnwood Houses Limited

(Registration number: 10900134)
Balance Sheet as at 31 January 2024

For the financial year ending 31 January 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 1 October 2024 and signed on its behalf by:
 

.........................................
D. J. Sear-Mayes
Director

 

Charnwood Houses Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 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:
5 Armston Road
Quorn
Loughborough
Leicestershire
LE12 8QP

These financial statements were authorised for issue by the Board on 1 October 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

 

Charnwood Houses Limited

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

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 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.

Turnover from a contract is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of turnover can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Contract revenue recognition

Turnover and profits on long term contracts are recognised in proportion to the stage of completion reached when the outcome of the contract can be assessed with reasonable certainty. The directors have used the input method on percentage of completion for recognition of long term contract turnover.

The accounting treatments are:
- amounts recoverable on contracts are included within debtors;
- amounts invoiced in excess of amounts recoverable on contracts are included within creditors;
- forseeable losses are included within creditors;
- costs to complete are included within creditors;
- costs, net of amounts transferred to cost of sales, are included within work in progress.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Charnwood Houses Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtor.

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 work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks 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 the profit and loss account.

 

Charnwood Houses Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Charnwood Houses Limited

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

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 February 2023

83,950

83,950

At 31 January 2024

83,950

83,950

Depreciation

At 1 February 2023

27,858

27,858

Charge for the year

16,790

16,790

At 31 January 2024

44,648

44,648

Carrying amount

At 31 January 2024

39,302

39,302

At 31 January 2023

56,092

56,092

5

Stocks

2024
£

2023
£

Work in progress

13,859

216,886

6

Debtors

Current

2024
£

2023
£

Prepayments

300

43,505

Other debtors

607,360

550,000

 

607,660

593,505

 

Charnwood Houses Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

551,419

551,735

Taxation and social security

 

1,163

57,100

Accruals and deferred income

 

2,717

23,238

Other creditors

 

34,429

22,507

 

589,728

654,580

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

15,833

25,000

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       
 

Charnwood Houses Limited

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

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

15,833

25,000

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

Other borrowings

541,419

541,735

551,419

551,735

10

Related party transactions

Summary of transactions with other related parties

The company owed £541,419 (2023 - £541,735) to a company closely connected to the directors.