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Company registration number: 14587096







UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 MARCH 2024


RURAL EXECUTIVE HOMES (HINDHEAD) LIMITED






































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RURAL EXECUTIVE HOMES (HINDHEAD) LIMITED
 


 
COMPANY INFORMATION


Directors
J J Whelan (appointed 12 January 2023)
J E Whelan (appointed 28 February 2023)




Registered number
14587096



Registered office
Rose Court
Rye Common Lane

Farnham

Surrey

GU10 5DD




Accountants
Menzies LLP
Chartered Accountants

Victoria House

50-58 Victoria Road

Farnborough

Hampshire

GU14 7PG





 


RURAL EXECUTIVE HOMES (HINDHEAD) LIMITED
 



CONTENTS



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 3


 


RURAL EXECUTIVE HOMES (HINDHEAD) LIMITED
REGISTERED NUMBER:14587096



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
Note
£

  

Current assets
  

Stocks
  
7,578,847

Debtors: amounts falling due within one year
 4 
717,591

Cash at bank and in hand
  
10,686

  
8,307,124

Creditors: amounts falling due within one year
 5 
(8,326,171)

Net current (liabilities)/assets
  
 
 
(19,047)

Total assets less current liabilities
  
(19,047)

  

Net (liabilities)/assets
  
(19,047)


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
(19,147)

  
(19,047)


The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



J J Whelan
Director

Date: 11 October 2024

The notes on pages 2 to 3 form part of these financial statements.

Page 1

 


RURAL EXECUTIVE HOMES (HINDHEAD) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Rural Executive Homes (Hindhead) Limited is a private company limited by shares registered in England and Wales. The address of the registered office is disclosed on the company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

  
2.2

Stocks

Stock consists solely of work  in  progress and is  valued  at  the  lower  of  cost  and  net  realisable  value.  Costs include  direct  materials, labour  and  attributable  overheads.  Net  realisable  value  is  based  on  the  estimated  contract  value  or  selling price, less any further costs to completion and realisation.  

 
2.3

Going concern

The company currently shows a deficit on its balance sheet.
Due to the ongoing support from a group company, the directors believe that it is appropriate to prepare the financial statements on a going concern basis which assumes that the company will continue in existence for the foreseeable future. It is anticipated that in the next twelve months the company will generate a profit and its financial position will improve.
If the company were unable to continue in existence, adjustments would have to be made to reduce the balance sheet value of assets to their recoverable amount and to provide for further liabilities that might arise.

 
2.4

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts  receivable  and  payable,  are  initially  measured  at  present  value  of  the  future  cash  flows  and subsequently  at  amortised  cost  using  the  effective  interest  method.  Debt  instruments  that  are  payable  or receivable  within  one  year,  typically  trade  debtors  and  creditors,  are  measured, initially  and  subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements  of  a  short-term  instrument  constitute  a  financing  transaction,  like  the  payment  of  a  trade  debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

3.


Employees

The average monthly number of employees, including directors, during the year was 2.

Page 2

 


RURAL EXECUTIVE HOMES (HINDHEAD) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Debtors

2024
£


Amounts owed by group undertakings
126,100

Other debtors
591,491

717,591



5.


Creditors: Amounts falling due within one year

2024
£

Bank loans
5,293,206

Trade creditors
1,151,109

Amounts owed to group undertakings
1,568,328

Other taxation and social security
4,215

Other creditors
302,053

Accruals and deferred income
7,260

8,326,171


The bank loans shown above are secured by a fixed and floating charge over the company's assets. The directors have also provided a personal guarantee of £1,210,000 in respect of the bank loan.


6.


Related party transactions

Included in other creditors is a loan of £232,713 provided by one of the directors. The loan has been provided interest free and is considered repayable on demand.


7.


Controlling party

The ultimate controlling party of the group in which Rural Executive Homes (Hindhead) Limited is a member, is John J Whelan.

 
Page 3