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REGISTERED NUMBER: 03505379 (England and Wales)













Financial Statements

for the Year Ended 29 February 2024

for

Tennyson Homes Limited

Tennyson Homes Limited (Registered number: 03505379)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Tennyson Homes Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr H J Roe
Mr S P Roe
Mr G Finney
Mrs W J Roe
Mrs S M O Roe
Miss H P Dunn
Miss C H Shaw
Miss I C Lister
Miss R P Roe
Mr S H D Roe
Miss E Roe
Mrs R Moseley


REGISTERED OFFICE: Roe House
Boundary Lane
South Hykeham
LINCOLN
Lincolnshire
LN6 9NQ


REGISTERED NUMBER: 03505379 (England and Wales)


ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN


BANKERS: NatWest Bank Plc
225 High Street
LINCOLN
Lincolnshire
LN2 1AZ

Tennyson Homes Limited (Registered number: 03505379)

Statement of Financial Position
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,556 27,166

CURRENT ASSETS
Stocks 5 12,433,841 13,093,021
Debtors 6 16,448 46,998
Cash at bank 2,045,691 1,611,841
14,495,980 14,751,860
CREDITORS
Amounts falling due within one year 7 2,760,604 3,637,066
NET CURRENT ASSETS 11,735,376 11,114,794
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,751,932

11,141,960

CREDITORS
Amounts falling due after more than
one year

8

-

(420,000

)

PROVISIONS FOR LIABILITIES (4,139 ) (6,792 )
NET ASSETS 11,747,793 10,715,168

CAPITAL AND RESERVES
Called up share capital 521,304 521,304
Retained earnings 11,226,489 10,193,864
SHAREHOLDERS' FUNDS 11,747,793 10,715,168

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

Tennyson Homes Limited (Registered number: 03505379)

Statement of Financial Position - continued
29 February 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2024 and were signed on its behalf by:




Mr G Finney - Director



Mr H J Roe - Director


Tennyson Homes Limited (Registered number: 03505379)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Tennyson 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.

Significant judgements and estimates
Estimates and judgements are continually evaluated by the directors and are based on historical experience and other relevant factors, including expectations of future events that are believed to be reasonable under the circumstances.

Tangible fixed asset lives and residual values
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. Judgement is applied in determining the residual values of fixed assets by assessing the amount that the company would currently obtain for disposing of the asset in the condition it is expected to be in at the end of its useful life. The estimation of useful lives is based on historic performance as well as expectations about future use. Useful lives are reviewed to reflect current estimates of technological advancement, future investment policy, economic utilisation and the physical condition of the asset.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost

Stock and work in progress
Stocks and work in progress are valued at the lower of cost and net realisable value inclusive of attributable overheads. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Work in progress includes properties that are currently rented out awaiting the change in market conditions prior to their sale.

Tennyson Homes Limited (Registered number: 03505379)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Leasing
Rental income from operating leases is recognised on a straight line basis over the term of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 17 ) .

Tennyson Homes Limited (Registered number: 03505379)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 March 2023
and 29 February 2024 350,081 30,059 12,723 392,863
DEPRECIATION
At 1 March 2023 322,915 30,059 12,723 365,697
Charge for year 10,610 - - 10,610
At 29 February 2024 333,525 30,059 12,723 376,307
NET BOOK VALUE
At 29 February 2024 16,556 - - 16,556
At 28 February 2023 27,166 - - 27,166

5. STOCKS

Included in the stocks and work in progress figures is properties that are currently being rented out, but is still held for resale and it is the intention of the directors to sell this property at the earliest opportunity.

The rentals received relating to these properties was £126,670 (2023: £74,697).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,463 1,183
VAT 2,985 40,263
Prepayments - 5,552
16,448 46,998

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 34,554 240,672
Amounts owed to related parties 2,246,675 2,325,071
Tax 340,905 563,572
Social security and other taxes 15,949 17,498
Other creditors - 389
Deposits taken 7,000 20,000
Directors' current accounts 102,701 447,968
Accrued expenses 12,820 21,896
2,760,604 3,637,066

Tennyson Homes Limited (Registered number: 03505379)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Other loans - 2-5 years - 420,000

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans - 420,000

The other loans balance is secured by way of a legal charge over the assets of the company.

10. RELATED PARTY DISCLOSURES

The following directors had loan account balances due from the company as at 28 February 2024:

Mr S P Roe £4,890 (2023 - £334,795).
Mr H J Roe £90,848 (2023 - £95,986).
Mrs W J Roe £1,764 (2023 - £11,989).
Mrs S M O Roe £5,199 (2023 - £5,198).

All balances are unsecured and interest free in 2024..

Included in creditors is a balance owing to H & S Roe & Sons Farms Limited of £2,246,675 (2023: £2,325,071) this amount is net of trade debtors and creditors. H & S Roe & Sons Farms Limited is a company in which the directors or their family members are shareholders excluding Mr G Finney who is not a director of H & S Roe & Sons Farms Limited, or family member.

During the year payments were made to H & S Roe & Sons Farms Limited totalling £35,000 (2023: £35,000) in respect to use of yard expenses and £75,500 (2023: £75,500) in respect of administration charges.

These balances are on an unsecured interest free basis.