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REGISTERED NUMBER: 02652361 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Binks Executive Homes Limited

Binks Executive Homes Limited (Registered number: 02652361)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Binks Executive Homes Limited (Registered number: 02652361)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,186 4,173
Investments 5 1,200,001 1,200,001
1,204,187 1,204,174

CURRENT ASSETS
Stocks 324,525 279,525
Debtors 6 7,307,386 14,112,869
7,631,911 14,392,394
CREDITORS
Amounts falling due within one year 7 11,556,527 16,283,527
NET CURRENT LIABILITIES (3,924,616 ) (1,891,133 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,720,429

)

(686,959

)

CREDITORS
Amounts falling due after more than one year 8 22,043 32,048
NET LIABILITIES (2,742,472 ) (719,007 )

CAPITAL AND RESERVES
Called up share capital 350,002 350,002
Retained earnings (3,092,474 ) (1,069,009 )
(2,742,472 ) (719,007 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

Binks Executive Homes Limited (Registered number: 02652361)

Balance Sheet - continued
31 October 2023


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 26 September 2024 and were signed on its behalf by:





Mrs H L Davies - Director


Binks Executive Homes Limited (Registered number: 02652361)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Binks Executive Homes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02652361

Registered office: Cawthorne House
19 Tivy Dale
Cawthorne
Barnsley
South Yorkshire
S75 4EJ

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 etc - 25% on reducing balance, 25% on cost and 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Binks Executive Homes Limited (Registered number: 02652361)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant &
machinery
etc
£   
COST
At 1 November 2022 147,857
Additions 1,029
At 31 October 2023 148,886
DEPRECIATION
At 1 November 2022 143,684
Charge for year 1,016
At 31 October 2023 144,700
NET BOOK VALUE
At 31 October 2023 4,186
At 31 October 2022 4,173

There are a number of charges, both fixed and floating over the assets of the company.

Binks Executive Homes Limited (Registered number: 02652361)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 November 2022
and 31 October 2023 1,200,001
NET BOOK VALUE
At 31 October 2023 1,200,001
At 31 October 2022 1,200,001

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,050 7,210,785
Amounts owed by group undertakings 750,312 748,822
Other debtors 6,556,024 6,153,262
7,307,386 14,112,869

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans & overdrafts 18,423 19,667
Trade creditors 237,072 26,539
Amounts owed to group undertakings 984,798 988,896
Other taxation & social security 93 93
Other creditors 10,316,141 15,248,332
11,556,527 16,283,527

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 22,043 32,048