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For the year ended |
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Financial Statements |
Contents |
Page |
Strategic report |
1 |
Directors' report |
3 |
Directors' responsibilities statement |
6 |
Independent auditor's report to the members |
7 |
Consolidated statement of income and retained earnings |
10 |
Company statement of income and retained earnings |
11 |
Consolidated statement of financial position |
12 |
Company statement of financial position |
13 |
Consolidated statement of cash flows |
14 |
Notes to the financial statements |
15 |
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Strategic Report |
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Company Secretary |
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Directors' Report |
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Company Secretary |
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Directors' Responsibilities Statement |
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Independent Auditor's Report to the Members of
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(Senior Statutory Auditor) |
For and on behalf of |
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Chancery House |
30 St Johns Road |
Woking |
Surrey |
GU21 7SA |
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Consolidated Statement of Income and Retained Earnings |
2024 |
2023 |
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Note |
£ |
£ |
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Turnover |
5 |
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Raw material and consumables |
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Other external expenses |
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Staff costs |
8 |
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Depreciation and other amounts written off tangible fixed assets |
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Other operating expenses |
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------------- |
------------- |
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Operating loss |
6 |
(
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(
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Other interest receivable and similar income |
10 |
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------------- |
------------- |
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Profit/(loss) before taxation |
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(
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11 |
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(
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--------- |
------------ |
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Profit/(loss) for the financial year and total comprehensive income |
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(
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--------- |
------------ |
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Dividends paid and payable |
12 |
– |
(
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Retained earnings at the start of the year |
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------------- |
------------- |
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Retained earnings at the end of the year |
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------------- |
------------- |
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Company Statement of Income and Retained Earnings |
2024 |
2023 |
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Note |
£ |
£ |
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Profit/(loss) for the financial year and total comprehensive income |
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Dividends paid and payable |
12 |
– |
(
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Retained earnings at the start of the year |
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------------ |
------------ |
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Retained earnings at the end of the year |
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------------ |
------------ |
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Consolidated Statement of Financial Position |
2024 |
2023 |
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Note |
£ |
£ |
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Tangible assets |
13 |
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Debtors |
15 |
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Cash at bank and in hand |
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------------- |
------------- |
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Creditors: amounts falling due within one year |
16 |
(
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(
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------------- |
------------- |
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Net current assets |
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------------- |
------------- |
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Total assets less current liabilities |
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Taxation including deferred tax |
17 |
(
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(
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------------- |
------------- |
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Net assets |
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------------- |
------------- |
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Called up share capital |
20 |
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Profit and loss account |
21 |
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------------- |
------------- |
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Shareholders funds |
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------------- |
------------- |
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Director |
Director |
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Company Statement of Financial Position |
2024 |
2023 |
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Note |
£ |
£ |
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Tangible assets |
13 |
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Investments |
14 |
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--------- |
--------- |
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Debtors |
15 |
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Cash at bank and in hand |
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------------ |
------------ |
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Creditors: amounts falling due within one year |
16 |
(
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(
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------------ |
------------ |
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Net current assets |
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------------ |
------------ |
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Total assets less current liabilities |
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Taxation including deferred tax |
17 |
(
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(
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------------ |
------------ |
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Net assets |
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------------ |
------------ |
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Called up share capital |
20 |
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Profit and loss account |
21 |
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------------ |
------------ |
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Shareholders funds |
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------------ |
------------ |
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Director |
Director |
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Consolidated Statement of Cash Flows |
2024 |
2023 |
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£ |
£ |
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Profit/(loss) for the financial year |
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(
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Adjustments for: |
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Depreciation of tangible assets |
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Other interest receivable and similar income |
(
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(
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Gains on disposal of tangible assets |
(
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(
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Tax on profit |
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(
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Accrued (income)/expenses |
(
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Changes in: |
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Trade and other debtors |
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(
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Trade and other creditors |
(
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(
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--------- |
------------ |
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Cash generated from operations |
(
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(
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Interest received |
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Tax received |
– |
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--------- |
------------ |
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Net cash from/(used in) operating activities |
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(
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--------- |
------------ |
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Purchase of tangible assets |
(
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(
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Proceeds from sale of tangible assets |
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--------- |
------------ |
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Net cash used in investing activities |
(
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(
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--------- |
------------ |
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Dividends paid |
– |
(
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--------- |
------------ |
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Net cash used in financing activities |
– |
(
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--------- |
------------ |
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Net decrease in cash and cash equivalents |
(
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(
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Cash and cash equivalents at beginning of year |
8,741,703 |
11,323,853 |
------------ |
------------- |
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Cash and cash equivalents at end of year |
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------------ |
------------- |
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Notes to the Financial Statements |
Freehold property |
- |
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Plant and machinery |
- |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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Equipment |
- |
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|
2024 |
2023 |
|
£ |
£ |
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Construction contracts |
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|
------------- |
------------- |
|
2024 |
2023 |
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£ |
£ |
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Gains on disposal of tangible assets |
(
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(
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Operating lease rentals |
|
|
-------- |
-------- |
|
2024 |
2023 |
|
£ |
£ |
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Fees payable for the audit of the financial statements |
|
|
------- |
------- |
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Audit of the financial statements of associates |
|
|
-------- |
-------- |
|
2024 |
2023 |
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No. |
No. |
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Production staff |
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Administrative staff |
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---- |
---- |
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---- |
---- |
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2024 |
2023 |
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£ |
£ |
|
Wages and salaries |
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Social security costs |
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Other pension costs |
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------------ |
------------ |
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------------ |
------------ |
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2024 |
2023 |
|
£ |
£ |
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Remuneration |
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Company contributions to defined contribution pension plans |
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|
--------- |
--------- |
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--------- |
--------- |
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2024 |
2023 |
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No. |
No. |
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Defined contribution plans |
|
|
---- |
---- |
|
2024 |
2023 |
|
£ |
£ |
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Interest on cash and cash equivalents |
|
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Other interest receivable and similar income |
– |
|
--------- |
--------- |
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|
--------- |
--------- |
|
2024 |
2023 |
|
£ |
£ |
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Origination and reversal of timing differences |
|
(
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-------- |
------- |
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Tax on profit |
|
(
|
-------- |
------- |
|
2024 |
2023 |
|
£ |
£ |
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Profit/(loss) on ordinary activities before taxation |
|
(
|
--------- |
------------ |
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Profit/(loss) on ordinary activities by rate of tax |
|
(
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Effect of expenses not deductible for tax purposes |
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Utilisation of tax losses |
(
|
– |
Unused tax losses |
– |
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Change in tax rates |
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Additional tax relief on fixed assets |
– |
(
|
--------- |
------------ |
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Tax on profit |
|
(
|
--------- |
------------ |
|
2024 |
2023 |
|
£ |
£ |
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Dividends on Ordinary shares |
– |
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---- |
--------- |
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Group |
Freehold land & buildings |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
£ |
£ |
£ |
£ |
£ |
£ |
|
Cost |
||||||
At 1 Jul 2023 |
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Additions |
– |
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– |
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– |
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Disposals |
– |
– |
– |
(
|
– |
(
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--------- |
------------ |
-------- |
--------- |
-------- |
------------ |
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At 30 Jun 2024 |
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--------- |
------------ |
-------- |
--------- |
-------- |
------------ |
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Depreciation |
||||||
At 1 Jul 2023 |
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Charge for the year |
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Disposals |
– |
– |
– |
(
|
– |
(
|
--------- |
------------ |
-------- |
--------- |
-------- |
------------ |
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At 30 Jun 2024 |
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--------- |
------------ |
-------- |
--------- |
-------- |
------------ |
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Carrying amount |
||||||
At 30 Jun 2024 |
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--------- |
------------ |
-------- |
--------- |
-------- |
------------ |
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At 30 Jun 2023 |
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--------- |
------------ |
-------- |
--------- |
-------- |
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Company |
Plant and machinery |
Total |
£ |
£ |
|
Cost |
||
At 1 July 2023 |
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Additions |
|
|
------------ |
------------ |
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At 30 June 2024 |
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------------ |
------------ |
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Depreciation |
||
At 1 July 2023 |
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Charge for the year |
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|
------------ |
------------ |
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At 30 June 2024 |
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|
------------ |
------------ |
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Carrying amount |
||
At 30 June 2024 |
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------------ |
------------ |
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At 30 June 2023 |
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|
------------ |
------------ |
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Company |
Shares in group undertakings |
£ |
|
Cost |
|
At 1 July 2023 and 30 June 2024 |
|
--------- |
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Impairment |
|
At 1 July 2023 and 30 June 2024 |
– |
--------- |
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Carrying amount |
|
At 1 July 2023 and 30 June 2024 |
|
--------- |
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At 30 June 2023 |
|
--------- |
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Class of share |
Percentage of shares held |
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Subsidiary undertakings |
||
|
Ordinary £1 |
100 |
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Ordinary £1 |
100 |
|
Ordinary £1 |
100 |
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Trade debtors |
|
|
– |
– |
Amounts owed by group undertakings |
– |
– |
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Amounts owed by customers on construction contracts |
|
|
– |
– |
Prepayments and accrued income |
|
|
|
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Amounts owed by related parties |
|
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Other debtors |
|
|
– |
– |
------------ |
------------ |
------------ |
------------ |
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|
|
|
|
|
------------ |
------------ |
------------ |
------------ |
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Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Trade creditors |
|
|
– |
– |
Accruals and deferred income |
|
|
– |
– |
Social security and other taxes |
|
|
|
|
Other creditors - Amounts owed to related parties |
|
|
– |
– |
Other creditors |
|
|
– |
– |
------------ |
------------ |
------- |
------- |
|
|
|
|
|
|
------------ |
------------ |
------- |
------- |
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Group |
Deferred tax (note 18) |
£ |
|
At 1 July 2023 |
|
Charge against provision |
|
-------- |
|
At 30 June 2024 |
|
-------- |
|
Company |
Deferred tax (note 18) |
£ |
|
At 1 July 2023 |
|
Charge against provision |
|
-------- |
|
At 30 June 2024 |
|
-------- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Included in provision for liabilities (note 17) |
|
|
|
|
-------- |
-------- |
-------- |
-------- |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Accelerated capital allowances |
|
|
|
|
Unused tax losses |
(
|
– |
(
|
– |
Deferred tax - other timing differences |
(
|
(
|
– |
– |
-------- |
-------- |
-------- |
-------- |
|
44,454 |
30,017 |
41,420 |
22,319 |
|
-------- |
-------- |
-------- |
-------- |
|
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
1,000 |
|
1,000 |
------- |
------- |
------- |
------- |
|
At 1 Jul 2023 |
Cash flows |
At 30 Jun 2024 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(67,938) |
|
------------ |
-------- |
------------ |
|
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
|
Not later than 1 year |
|
|
– |
– |
Later than 1 year and not later than 5 years |
|
|
– |
– |
--------- |
--------- |
---- |
---- |
|
|
|
– |
– |
|
--------- |
--------- |
---- |
---- |
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2024 | 2023 | ||
£ | £ | ||
Included in debtors and creditors are amounts owed by and (to): | |||
J P Whelan Homes Limited | 472,073 | 472,073 | |
J P Whelan (Investments) Limited | (10,083) | (10,083) | |
Martin Grant Homes Limited | 609,824 | 609,824 | |
Rey Construction Limited | 50,000 | 50,000 | |
|
Notes to the Financial Statements (continued) |
2024 | 2023 | ||
£ | £ | ||
Included in debtors and creditors are amounts owed by and (to): | |||
J P Whelan Homes Limited | 365,153 | 365,153 | |
J P Whelan (Investments) Limited | |||
Martin Grant Homes Limited | 388,988 | 388,988 | |
Rey Construction Limited | 50,000 | 50,000 | |