Registered number
08541286
Amethyst Homes Limited
Report and Financial Statements
31 January 2024
Amethyst Homes Limited
Registered number: 08541286
Directors' Report
The directors present their report and financial statements for the year ended 31 January 2024.
Principal activities
The company's principal activity during the period continued to be the construction of market and social housing.
Financial instrument risk
Financial risk management is integral to the management of the business. The primary risks that the business is exposed to are liquidity risk and interest rate risk.
Liquidity risk
The company ensures that there are sufficient funds available to meet the requirements of its on-going operations
Interest rate risk
The company currently has no interest bearing debts.
Results for the financial period
The profit for the year, after taxation, amounted to £657,357(2023 - £259,048)
Directors
The following persons served as directors during the year:
Mr. G. Coils
Mr. R. Bass
Mr. R. J. Emmerson
Mr. R. M. Short
Disclosure of information to auditors
Each person who was a director at the time this report was approved confirms that:
so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information.
Employment of disabled persons
Future developments, which would otherwise be disclosed in the directors' report are instead disclosed in the strategic report as permitted by section 414C(11) of the Companies Act 2006.
This report was approved by the board on 24 October 2024 and signed on its behalf.
Mr R. J. Emmerson
Director
Amethyst Homes Limited
Statement of Directors' Responsibilities
The directors are responsible for preparing the report and financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102 and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Amethyst Homes Limited
Strategic Report
Introduction
The directors present their strategic report together with the audited financial statements for the year ended 31st January 2024.
Principal Activites
The company's principal activity during the period continued to be the construction and sale of dwellings to the private market.
Review of Business
During the financial year the business completed two developments, one in Northumberland and the other in Stockton-on-Tees, and commenced work on two new developments, namley The Pastures in Northumberland and Vallum Heights in Newcastle.
Although work is progressing well on both schemes, no legal completions had been made on either development by the year end, thus resulting in a reduction in total number of new homes legally completed in the year of 44 new homes (2023: 51 new homes).
Turnover decreased by 10.09% to £9.44m (2023: £10.5m), however gross profit has increased to £2.219m (2023: £1.498m). The profit after tax for the year also increased and was £657k (2023: £259k). This increase is a direct result of increased margins being achieved by the business on completed homes.
The Company's liquidity ratios have decreased slightly in comparison with the previous year, and whilst bank liquidity has reduced, this is a direct result of the investment made into the infrastructure on the two new developments.
Balance sheet value has also increased following another profitable year, and as a consequence the company's risk profile continues to improve.
The business remains focused on delivering high quality well priced homes for a range of purchasers from first time buyers to family homes, to downsizers. Our products range from traditional two-story homes as well as a wide range of bungalows, allowing a broad range of available house types.
Our key values of Health and Safety and Our Customers Experience remain our focus and drive for the business.
The Health, Safety and general wellbeing of our staff, subcontractors and customers remains our number one priority. Our performance is measured monthly and regularly reviewed by the board.
Customer satisfaction is measured on a plot-by-plot basis. During the financial year, we continued to use the services of an external company to carry out customer satisfaction surveys on our behalf. We were delighted to receive a Gold Award for the second year running, with a customer satisfaction score of 97%. We have also achieved the 5* rating in the HBF Customer Satisfaction Survey in our first year of participation, again demonstrating our commitment to quality and customer satisfaction.
The medium-term objective is to deliver 125 units per annum on sites within the North East of England.
This objective will be achieved by: developing high quality homes; producing returns on capital employed in line with industry benchmarks; maintaining good liquidity; and increasing the land bank with planning consent.
Key Performance Indicators
The business uses reservation rates, legal completions achieved, revenue, gross profit, and net profit margins together with liquidity ratios to monitor financial performance. These key performance indicators are reviewed by the board on an ongoing basis.
Health & Safety and Customer Satisfaction are also monitored and results form part of our KPI’s for the business as a whole. These are reviewed monthly by the board.
Amethyst Homes Limited
Strategic Report
Principal risks and uncertainties
The primary operating risks for the company centre around the economy as a whole and its direct impact on the private house building industry.
Inflationary pressures during the year together with interest rate rises have had a significant impact on both raw material and labour prices. Other economic and global factors have compounded this and continue to affect all aspects of the industry’s supply chain.
Securing land in the right locations remains a key focus to ensure profitable managed growth for the business. However, the ongoing challenge of the planning system, has impacted the business by delaying new developments.
The above risks are being continually monitored and strategies have been developed, together with the strengthening of internal processes to minimise any adverse effects. These are reviewed monthly by the board.
Future Developments
While the uncertainty created by the current economic climate cannot be ignored, the past twelve months has been used as an opportunity to focus the management team on the business's key objectives.
In addition, investment into the new developments sites will generate additional liquidity for the business, enabling the company to generate strong and sustainable growth in the years ahead.
The business will continue to manage its operations in a controlled manner, taking into account the external impacts that the general economic environment creates. We are confident that, given the general undersupply of new homes throughout the region, that the business is in good shape to deliver it’s short- and medium-term growth plans in a controlled and well managed way.
Financial Instruments
The company does not have any financial instruments in existence.
This report was approved by the board on 24 October 2024 and signed on its behalf.
Mr R. J. Emmerson
Director
Amethyst Homes Limited
Independent auditor's report
to the members of Amethyst Homes Limited
Opinion
We have audited the financial statements of Amethyst Homes Limited (the 'company') for the year ended 31 January 2024 which comprise the Income Statement, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 January 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors’ responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations and we design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, are based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to pensions and tax legislation, employment law, health and safety legislation, and building safety legislation, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006.
We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements, and determined that the principal risks were related to deliberate manipulation of results such as improper revenue recognition, management bias in key accounting estimates and posting of inappropriate journal entries to manipulate the results for the period.
Audit procedures performed are detailed below.
1. Discussions with management.
2. Challenging assumptions and judgements made by management in their significant accounting estimates.
3. Identifying and testing journal entries on a sample basis.
There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities for the audit of the financial statements is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Mr K. V. Wood
(Senior Statutory Auditor) 6B Planet Business Centre
for and on behalf of Planet Place
Bland & Wood Killingworth
Statutory Auditor Newcastle Upon Tyne
24 October 2024 NE12 6DY
Amethyst Homes Limited
Income Statement
for the year ended 31 January 2024
Notes 2024 2023
£ £
Turnover 3 9,443,151 10,499,968
Cost of sales (7,224,643) (9,002,213)
Gross profit 2,218,508 1,497,755
Administrative expenses (1,591,110) (1,450,315)
Other operating income 278,015 43,090
Operating profit 4 905,413 90,530
Interest receivable 137,540 12,805
Profit on ordinary activities before taxation 1,042,953 103,335
Tax on profit on ordinary activities 7 (385,596) 155,713
Profit for the financial year 657,357 259,048
Amethyst Homes Limited
Statement of Financial Position
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 8 270,817 168,396
Current assets
Stocks 9 5,948,555 865,522
Debtors 10 440,133 1,860,246
Cash at bank and in hand 6,646,469 8,649,277
13,035,157 11,375,045
Creditors: amounts falling due within one year 11 (4,394,086) (3,352,344)
Net current assets 8,641,071 8,022,701
Total assets less current liabilities 8,911,888 8,191,097
Provisions for liabilities
Deferred taxation 12 (63,439) -
Net assets 8,848,449 8,191,097
Capital and reserves
Called up share capital 13 95 100
Capital redemption reserve 14 5 -
Profit and loss account 15 8,848,349 8,190,997
Total equity 8,848,449 8,191,097
Mr R. J. Emmerson
Director
Approved by the board on 24 October 2024
Amethyst Homes Limited
Statement of Changes in Equity
for the year ended 31 January 2024
Share Capital Profit Total
capital redemption and loss
reserve account
£ £ £ £
At 1 February 2022 100 - 7,931,949 7,932,049
Profit for the financial year 259,048 259,048
Capital redemption reserve transfer - - -
At 31 January 2023 100 - 8,190,997 8,191,097
At 1 February 2023 100 - 8,190,997 8,191,097
Profit for the financial year 657,357 657,357
Capital redemption reserve transfer 5 (5) -
Other comprehensive income for the financial year - 5 (5) -
Total comprehensive income for the financial year - 5 657,352 657,357
Shares redeemed (5) (5)
At 31 January 2024 95 5 8,848,349 8,848,449
Amethyst Homes Limited
Statement of Cash Flows
for the year ended 31 January 2024
Notes 2024 2023
£ £
Operating activities
Profit for the financial year 657,357 259,048
Adjustments for:
Interest receivable (137,540) (12,805)
Tax on profit on ordinary activities 385,596 (155,713)
Depreciation 51,303 47,863
(Increase)/decrease in stocks (5,083,033) 335,212
Decrease in debtors 1,296,090 92,895
Increase/(decrease) in creditors 873,443 (27,082)
(1,956,784) 539,418
Interest received 137,540 12,805
Corporation tax paid (29,835) 3,746
Cash (used in)/generated by operating activities (1,849,079) 555,969
Investing activities
Payments to acquire tangible fixed assets (191,878) (15,790)
Proceeds from sale of tangible fixed assets 38,154 -
Cash used in investing activities (153,724) (15,790)
Financing activities
Payments to redeem shares (5) -
Cash used in financing activities (5) -
Net cash (used)/generated
Cash (used in)/generated by operating activities (1,849,079) 555,969
Cash used in investing activities (153,724) (15,790)
Cash used in financing activities (5) -
Net cash (used)/generated (2,002,808) 540,179
Cash and cash equivalents at 1 February 8,649,277 8,109,098
Cash and cash equivalents at 31 January 6,646,469 8,649,277
Cash and cash equivalents comprise:
Cash at bank 6,646,469 8,649,277
Amethyst Homes Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Summary of significant accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold building alterations 2% straight line
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks and work in progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs comprise those costs incurred by the company in bringing the stocks to the location and condition intended by management and are calculated on a first-in first-out basis. Estimated selling price less costs to complete and sell is based on the estimated selling price in an arm’s length transaction less any estimated completion or selling costs that will be expected to be incurred in the transaction. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised. At each balance sheet date, the directors undertake a review of its stock and work in progress to establish if any stock or work in progress is slow-moving or has become obsolete. Where any write-downs of stock become necessary to reduce the value from cost to estimated selling price less costs to complete and sell, such write-downs are recognised as an expense in profit or loss in the period in which the write-down or loss occurs. Where such write-downs subsequently reverse, the amount of any reversal is recognised as a reduction in the amount of stock recognised as an expense in the period in which the reversal occurs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Critical accounting estimates and judgements
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Significant judgements in applying the entity's accounting policies
Stocks and work in progress are carried at the lower of cost and net realisable value. Net realisable value represents the estimated selling price (in the ordinary course of business) less all estimated costs of completion and overheads. Valuation of site / phase work in progress are carried out at regular intervals and estimate of the cost to complete a site / phase and estimates of anticipated revenues are required to enable a development profit to be determined. Management are required to employ considerable judgement in estimating the profitability of a site / phase and in assessing any impairment provisions which may be required.
Gross profit is recognised for completed houses based on the latest whole site / phase gross margin which is an output of the site / phase valuation. These valuations, which are updated at frequent intervals throughout the life of the site / phase use actual and forecast selling prices, land and construction costs and are sensitive to future movements in both estimated costs to complete and expected selling prices. Forecast selling prices are inherently uncertian due to changes in market conditions.

In preparing these financial statements, the directors do not consider there to have been any other significant judgements that were required in the process of applying the company's accounting policies.
Key sources of estimation uncertainty
Estimates included within the financial statements include depreciation charges, and asset impairments (for example provision against stock and debtors). None of the estimates made in the preparation of these financial statements are considered to carry significant estimation uncertainty, nor to bear significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
3 Analysis of turnover 2024 2023
£ £
Sale of goods 9,443,151 10,499,968
By geographical market:
UK 9,443,151 10,499,968
4 Operating profit 2024 2023
£ £
This is stated after charging:
Depreciation of owned fixed assets 51,303 47,863
Auditors' remuneration for audit services 4,850 4,850
Carrying amount of stock sold 7,224,643 9,002,213
5 Directors' emoluments 2024 2023
£ £
Emoluments 385,490 363,438
Company contributions to defined contribution pension plans 36,542 34,942
422,032 398,380
Number of directors to whom retirement benefits accrued: 2024 2023
Number Number
Defined contribution plans 4 4
6 Staff costs 2024 2023
£ £
Wages and salaries 889,426 836,534
Social security costs 109,052 104,138
Other pension costs 53,269 76,922
1,051,747 1,017,594
Average number of employees during the year Number Number
Administration 14 14
Development 15 15
Sales 3 3
32 32
7 Taxation 2024 2023
£ £
Analysis of charge in period
Current tax:
UK corporation tax on profits of the period 189,056 -
Adjustments in respect of previous periods 9,078 -
198,134 -
Deferred tax:
Origination and reversal of timing differences 187,462 (155,713)
Tax on profit/(loss) on ordinary activities 385,596 (155,713)
Factors affecting tax charge for period
The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:
2024 2023
£ £
Profit on ordinary activities before tax 1,042,953 103,335
Standard rate of corporation tax in the UK 25% 19%
£ £
Profit on ordinary activities multiplied by the standard rate of corporation tax 260,738 19,634
Effects of:
Expenses not deductible for tax purposes (71,682) (19,634)
Adjustments to tax charge in respect of previous periods 9,078 -
Current tax charge for period 198,134 -
Factors that may affect future tax charges
The rate of corporation tax throughout the period was 25% and this was the enacted rate of corporation tax at the balance sheet date. Accordingly, the company's profits for this period are taxed at an effective rate of 25% (2023: 19%)
8 Tangible fixed assets
Land and buildings Plant and machinery Fixtures, fittings, tools and equipment Total
At cost At cost At cost
£ £ £ £
Cost or valuation
At 1 February 2023 20,320 416,449 110,716 547,485
Additions - 185,248 6,630 191,878
Disposals - (154,842) (4,653) (159,495)
At 31 January 2024 20,320 446,855 112,693 579,868
Depreciation
At 1 February 2023 2,851 302,059 74,179 379,089
Charge for the year 408 40,992 9,903 51,303
On disposals - (121,341) - (121,341)
At 31 January 2024 3,259 221,710 84,082 309,051
Carrying amount
At 31 January 2024 17,061 225,145 28,611 270,817
At 31 January 2023 17,469 114,390 36,537 168,396
9 Stocks and work in progress 2024 2023
£ £
Work in progress 5,948,555 865,522
10 Debtors 2024 2023
£ £
Trade debtors 256,748 1,276,472
Deferred tax asset (see note 12) - 124,023
Corporation tax recoverable - 3,746
Other debtors 142,149 405,702
Prepayments and accrued income 41,236 50,303
440,133 1,860,246
11 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,121,985 263,019
Corporation tax 172,045 3,746
Other taxes and social security costs 59,631 52,824
Other creditors 305,115 277,721
Accruals and deferred income 2,735,310 2,755,034
4,394,086 3,352,344
12 Deferred taxation 2024 2023
£ £
Accelerated capital allowances 63,439 42,099
Tax losses carried forward - (166,122)
63,439 (124,023)
2024 2023
£ £
At 1 February (124,023) 31,690
Charged/(credited) to the profit and loss account 187,462 (155,713)
At 31 January 63,439 (124,023)
13 Share capital Nominal 2024 2024 2023
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £0.01 each 9,500 95 100
Nominal Number Amount
value £
Shares redeemed during the period:
Ordinary shares £0.01 each 500 5
14 Capital Redemption reserve
The capital redemption reserve arose on the redemption of shares and is non-distributable.
15 Profit and loss account 2024 2023
£ £
At 1 February 8,190,997 7,931,949
Profit for the financial year 657,357 259,048
Capital redemption reserve transfer (5) -
At 31 January 8,848,349 8,190,997
16 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr. G. Coils
Director's loan account 11,100 - (6,200) 4,900
11,100 - (6,200) 4,900
17 Presentation currency
The financial statements are presented in Sterling.
18 Legal form of entity and country of incorporation
Amethyst Homes Limited is a private company limited by shares and incorporated in England.
19 Principal place of business
The address of the company's principal place of business and registered office is:
Steel House
Ponds Court
Consett
County Durham
DH8 5XP
20 Reconciliations on adoption of FRS 102
Profit and loss for the year ended 31 January 2023 £
Profit under former UK GAAP 259,048
Profit under FRS 102 259,048
Balance sheet at 31 January 2023 £
Equity under former UK GAAP 8,191,097
Equity under FRS 102 8,191,097
Balance sheet at 1 February 2022 £
Equity under former UK GAAP -
Equity under FRS 102 -
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