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Company No: 14402816 (England and Wales)

SUTCLIFFE ROAD FRASER HOMES LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 06 OCTOBER 2022 TO 31 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

SUTCLIFFE ROAD FRASER HOMES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 06 OCTOBER 2022 TO 31 MARCH 2024

Contents

SUTCLIFFE ROAD FRASER HOMES LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL PERIOD FROM 06 OCTOBER 2022 TO 31 MARCH 2024
SUTCLIFFE ROAD FRASER HOMES LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL PERIOD FROM 06 OCTOBER 2022 TO 31 MARCH 2024
DIRECTORS Mr S Fraser (Appointed 06 October 2022)
Mrs G Fraser (Appointed 14 November 2022)
REGISTERED OFFICE 2 Post Office Street
Altrincham
WA14 1QA
England
United Kingdom
COMPANY NUMBER 14402816 (England and Wales)
ACCOUNTANT Shepherd Private Clients
Suite 101 Highfield House
Cheadle Royal Business Park
Cheadle
SK8 3GY
SUTCLIFFE ROAD FRASER HOMES LIMITED

CHARTERED TAX ADVISERS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SUTCLIFFE ROAD FRASER HOMES LIMITED

FOR THE FINANCIAL PERIOD FROM 06 OCTOBER 2022 TO 31 MARCH 2024
SUTCLIFFE ROAD FRASER HOMES LIMITED

CHARTERED TAX ADVISERS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SUTCLIFFE ROAD FRASER HOMES LIMITED (continued)

FOR THE FINANCIAL PERIOD FROM 06 OCTOBER 2022 TO 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statement of Avenham Road Fraser Homes Limited for the year ended 31 March 2024 which comprises the statement of comprehensive income, the balance sheet, the statement of changes in equity and the related notes from company's accounting records and from information and explanations you have given us.

As a practising member firm of Chartered Institute of Taxations (CIOT), we are subject to its ethical and other professional requirements which are detailed at www.tax.org.uk/professional-standards.

Our work has been undertaken in accordance with the requirments of Chartered Institute of Taxations (CIOT) as detailed at www.tax.org.uk.

CHARTERED TAX ADVISERS

Shepherd Private Clients
Suite 101 Highfield House
Cheadle Royal Business Park
Cheadle
SK8 3GY

Date:

SUTCLIFFE ROAD FRASER HOMES LIMITED

BALANCE SHEET

AS AT 31 MARCH 2024
SUTCLIFFE ROAD FRASER HOMES LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2024
Note 31.03.2024
£
Current assets
Stocks 4 3,410,714
Debtors 5 383
Cash at bank and in hand 6 61
3,411,158
Creditors: amounts falling due within one year 7 ( 3,284,762)
Net current assets 126,396
Total assets less current liabilities 126,396
Net assets 126,396
Capital and reserves
Called-up share capital 100
Profit and loss account 126,296
Total shareholder's funds 126,396

For the financial period 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 financial statements of Sutcliffe Road Fraser Homes Limited (registered number: 14402816) were approved and authorised for issue by the Board of Directors on 04 October 2024. They were signed on its behalf by:

Mr S Fraser
Director
SUTCLIFFE ROAD FRASER HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 06 OCTOBER 2022 TO 31 MARCH 2024
SUTCLIFFE ROAD FRASER HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 06 OCTOBER 2022 TO 31 MARCH 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Sutcliffe Road Fraser Homes Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Post Office Street, Altrincham, WA14 1QA, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The financial statements are presented for a period longer than one year due to being the company's first reporting period, the company was incorporated on 6 October 2022. As such, comparative amounts presented in the future financial statements (including the related notes) are not entirely comparable.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Stocks

Stocks have been valued at the lower of cost and net realisable value estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

Period from
06.10.2022 to
31.03.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 2

4. Stocks

31.03.2024
£
Work in progress 3,410,714

5. Debtors

31.03.2024
£
Other debtors 383

6. Cash and cash equivalents

31.03.2024
£
Cash at bank and in hand 61

7. Creditors: amounts falling due within one year

31.03.2024
£
Amounts owed to Parent undertakings 1,900
Amounts owed to Ultimate Parent undertakings 2,431,450
Amounts owed to related parties 131,013
Taxation and social security 39,913
Other creditors 680,486
3,284,762

8. Related Party Transactions

Fraser Land Hold Co

The parent undertaking of the entity has a balance included within creditors at 31 March 2024 of £1900. The loan is interest free and repayable on demand.

Fraser Family Invesco Limited

The ultimate parent undertaking of the entity has a balance within creditors at 31 March 2024 of £2,431,450. The loan is interest free and repayable on demand.

Tenemant Farm Fraser Homes Limited

A fellow subsidiary within the group has a balance included within creditors at 31 March 2024 of £131,000. The loan is interest free and repayable on demand.

15 Murieston Road Limited

A fellow subsidiary within the group has a balance included within creditors at 31 March 2024 of £13. The loan is interest free and repayable on demand.