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REGISTERED NUMBER: SC605104 (Scotland)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Pine Valley Homes Ltd

Pine Valley Homes Ltd (Registered number: SC605104)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pine Valley Homes Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTOR: C H McGaffney





REGISTERED OFFICE: 31 Gilchrist Walk
Lesmahagow
Lanark
ML11 0FQ





REGISTERED NUMBER: SC605104 (Scotland)





ACCOUNTANTS: ICW Accountancy Ltd
15 St Leonard Street
Lanark
Lanarkshire
ML11 7AB

Pine Valley Homes Ltd (Registered number: SC605104)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,702 61,357

CURRENT ASSETS
Stocks 1,045,851 514,193
Debtors 5 66,281 63,952
Cash at bank and in hand 1,668 1,957
1,113,800 580,102
CREDITORS
Amounts falling due within one year 6 1,365,935 714,875
NET CURRENT LIABILITIES (252,135 ) (134,773 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(236,433

)

(73,416

)

CREDITORS
Amounts falling due after more than one year 7 (14,167 ) (24,167 )

PROVISIONS FOR LIABILITIES - (15,361 )
NET LIABILITIES (250,600 ) (112,944 )

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings (250,603 ) (112,947 )
(250,600 ) (112,944 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Pine Valley Homes Ltd (Registered number: SC605104)

Balance Sheet - continued
31 January 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 director and authorised for issue on 7 October 2024 and were signed by:





C H McGaffney - Director


Pine Valley Homes Ltd (Registered number: SC605104)

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

1. STATUTORY INFORMATION

Pine Valley Homes Ltd is a private company, limited by shares , registered in Scotland. 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.

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 & Machinery - 15% Reducing Balance

Motor Vehicles - 25% Reducing Balance

Computer Equipment - 33% Straight Line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pine Valley Homes Ltd (Registered number: SC605104)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 88,700
Additions 13,702
Disposals (78,421 )
At 31 January 2024 23,981
DEPRECIATION
At 1 February 2023 27,343
Charge for year 5,256
Eliminated on disposal (24,320 )
At 31 January 2024 8,279
NET BOOK VALUE
At 31 January 2024 15,702
At 31 January 2023 61,357

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors - 5,227
Other debtors 66,281 58,725
66,281 63,952

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 52,389 16,013
Taxation and social security 5,385 17,755
Other creditors 1,298,161 671,107
1,365,935 714,875

Pine Valley Homes Ltd (Registered number: SC605104)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 14,167 24,167

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Loan 1,272,592 658,917

9. ULTIMATE CONTROLLING PARTY

The controlling party is C H McGaffney.