KEBLE HOMES LIMITED | |||||||||||
UNAUDITED FINANCIAL STATEMENTS | |||||||||||
FOR THE PERIOD ENDED | |||||||||||
31 DECEMBER 2023 | |||||||||||
Company Registration Number: 04998217 | |||||||||||
KEBLE HOMES LIMITED | |||||||||||
UNAUDITED FINANCIAL STATEMENTS | |||||||||||
FOR THE PERIOD ENDED 31 DECEMBER 2023 | |||||||||||
CONTENTS | PAGES | ||||||||||
Company information | 1 | ||||||||||
Balance sheet | 2 to 3 | ||||||||||
Notes to the financial statements | 4 to 10 | ||||||||||
KEBLE HOMES LIMITED | |||||||||||
COMPANY INFORMATION | |||||||||||
FOR THE PERIOD ENDED 31 DECEMBER 2023 | |||||||||||
DIRECTOR | |||||||||||
SECRETARY | |||||||||||
REGISTERED OFFICE | |||||||||||
COMPANY REGISTRATION NUMBER | |||||||||||
04998217 England and Wales | |||||||||||
KEBLE HOMES LIMITED | |||||||||||
BALANCE SHEET | |||||||||||
AS AT 31 DECEMBER 2023 | |||||||||||
Notes | 31 December 2023 | 31 March 2023 | |||||||||
£ | £ | ||||||||||
FIXED ASSETS | |||||||||||
Tangible assets | 5 | ||||||||||
Investments | 6 | ||||||||||
CURRENT ASSETS | |||||||||||
Stock | |||||||||||
Debtors | 7 | ||||||||||
Cash at bank and in hand | |||||||||||
CREDITORS: Amounts falling due within one year | 8 | ||||||||||
NET CURRENT LIABILITIES | ( |
( |
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CURRENT LIABILITIES LESS TOTAL ASSETS | ( |
( |
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CREDITORS: Amounts falling due after more than one year | 9 | ||||||||||
NET LIABILITIES | ( |
( |
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CAPITAL AND RESERVES | |||||||||||
Called up share capital | |||||||||||
Distributable profit and loss account | ( |
( |
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SHAREHOLDER'S DEFICIT | ( |
( |
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KEBLE HOMES LIMITED | |||||||||||
BALANCE SHEET | |||||||||||
AS AT 31 DECEMBER 2023 | |||||||||||
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report. | |||||||||||
Signed on behalf of the board | |||||||||||
O J McGovern | |||||||||||
Director | |||||||||||
Date approved by the board: |
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KEBLE HOMES LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE PERIOD ENDED 31 DECEMBER 2023 | |||||||||||
1 | GENERAL INFORMATION | ||||||||||
Keble Homes Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is: | |||||||||||
The Old Exchange | |||||||||||
Market Place | |||||||||||
Woodstock | |||||||||||
Oxon | |||||||||||
OX20 1TA | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||||||||
Basis of preparation of financial statements | |||||||||||
Going concern | |||||||||||
The accounts have been drawn up on the going concern basis. The company owes its bank £1,420,257 (31/03/2023 - £919,584) and the director £1,317,388 (31/03/2023 - £1,624,574), both of which could be required for repayment without notice. The company is therefore dependent upon the continued support of the bank and the director. The director does not consider their own support nor the support of the bank likely to be withdrawn. | |||||||||||
If the going concern basis was not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for additional liabilities that might arise and to reclassify fixed assets as current assets. |
Revenue recognition | |||||||||||
Turnover represents the sale of houses, stated net of trade discounts and value added tax. Revenue is recognised as contract activity progresses, in accordance with the terms of the contractual agreement and the stage of completion of the work. Revenue is reported in the period in which the services were rendered and reflects the partial performance of the company's contractual obligations where this can be measured reliably. Where recorded revenue exceeds amounts invoiced to clients, the excess is classified as income. | |||||||||||
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity. |
KEBLE HOMES LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE PERIOD ENDED 31 DECEMBER 2023 | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
Tangible fixed assets | |||||||||||
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses. | |||||||||||
Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives. | |||||||||||
Office equipment | |||||||||||
Motor vehicles | |||||||||||
Plant and machinery | |||||||||||
Leasehold adaptations | |||||||||||
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses. | |||||||||||
Investments | |||||||||||
The investment in the subsidiary is shown at cost less accumulated impairment losses. | |||||||||||
Financial Instruments | |||||||||||
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date. |
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. | |||||||||||
KEBLE HOMES LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE PERIOD ENDED 31 DECEMBER 2023 | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
Impairment of non-financial assets | |||||||||||
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account. | |||||||||||
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account. |
Work in progress | |||||||||||
Work in progress has been valued at the lower of cost and estimated selling price less cost to complete and sell. Cost comprises the cost of materials and direct labour relevant to the stage of construction. | |||||||||||
Debtors | |
Short term debtors are measured at transaction price, less any impairment. | |||||||||||
Creditors | |||||||||||
KEBLE HOMES LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE PERIOD ENDED 31 DECEMBER 2023 | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
Leases | |||||||||||
The company has entered into some hire purchase agreements for certain assets that include the option to purchase the items at the end of the lease term for a nominal amount, which is expected to be much lower than their fair value at that date. The hire purchase agreements have been classified as finance leases as it is reasonably certain that the option will be exercised. | |||||||||||
Assets held under finance leases are recognised in accordance with the company's policy for tangible fixed assets. The corresponding obligations to lessors under finance leases are treated in the balance sheet as a liability. The assets and liabilities under finance leases are recognised at amounts equal to the fair value of the assets, or if lower, the present value of minimum lease payments, determined at the inception of the lease. | |||||||||||
Minimum lease payments are apportioned between finance charges and the reduction in the outstanding liabilities using the effective interest method. The finance charge is allocated to each period during the lease so as to produce a constant rate of interest on the remaining balance of the liabilities. Finance charges are recognised in the profit and loss account. |
Taxation | |||||||||||
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 taxable profits. | |||||||||||
Deferred tax is measured using 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. | |||||||||||
Borrowing costs | |||||||||||
KEBLE HOMES LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE PERIOD ENDED 31 DECEMBER 2023 | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
Pensions | |||||||||||
Consolidation | |||||||||||
3 | CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS | ||||||||||
No significant accounting estimates and judgements have had to be made by the director in preparing these financial statements. | |||||||||||
4 | EMPLOYEES | ||||||||||
The average number of persons employed by the company (including the director) during the period / year was: | |||||||||||
31/12/2023 | 31/03/2023 | ||||||||||
Average number of employees | |||||||||||
KEBLE HOMES LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE PERIOD ENDED 31 DECEMBER 2023 | |||||||||||
5 | TANGIBLE ASSETS | ||||||||||
Office equipment | Motor vehicles | Plant and machinery | Leasehold adaptations | Total | |||||||
£ | £ | £ | £ | £ | |||||||
Cost | |||||||||||
At 1 April 2023 | |||||||||||
Additions | - | - | - | ||||||||
At 31 December 2023 | |||||||||||
Accumulated depreciation and impairments | |||||||||||
At 1 April 2023 | |||||||||||
Charge for period | |||||||||||
At 31 December 2023 | |||||||||||
Net book value | |||||||||||
At 1 April 2023 | |||||||||||
At 31 December 2023 | |||||||||||
6 | FIXED ASSET INVESTMENTS | ||||||||||
Investment in subsidiary | |||||||||||
£ | |||||||||||
Cost | |||||||||||
At 1 April 2023 | |||||||||||
At 31 December 2023 | |||||||||||
Net book value | |||||||||||
At 1 April 2023 | |||||||||||
At 31 December 2023 | |||||||||||
7 | DEBTORS | ||||||||||
31/12/2023 | 31/03/2023 | ||||||||||
£ | £ | ||||||||||
Prepayments and accrued income | |||||||||||
Other debtors | |||||||||||
238,824 | 234,507 | ||||||||||
KEBLE HOMES LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE PERIOD ENDED 31 DECEMBER 2023 | |||||||||||
8 | CREDITORS: Amounts falling due within one year | ||||||||||
31/12/2023 | 31/03/2023 | ||||||||||
£ | £ | ||||||||||
Bank loans and overdrafts | |||||||||||
Trade creditors | |||||||||||
Taxation and social security | |||||||||||
Hire purchase contracts and finance leases | |||||||||||
Accruals and deferred income | |||||||||||
Other creditors | |||||||||||
2,853,744 | 2,801,552 | ||||||||||
9 | CREDITORS: Amounts falling due after more than one year | ||||||||||
31/12/2023 | 31/03/2023 | ||||||||||
£ | £ | ||||||||||
Bank loans and overdrafts | |||||||||||
Hire purchase contracts and finance leases | |||||||||||
29,979 | 47,472 | ||||||||||
10 | SECURED DEBTS | ||||||||||
The hire purchase contracts and finance leases are secured on the assets concerned. | |||||||||||
11 | RELATED PARTY TRANSACTIONS | ||||||||||
The company has claimed exemptions from reporting disclosure of related party transactions with the following wholly owned group members: | |||||||||||
- | Subsidiary company | ||||||||||
During the period / year, the following transactions with related parties took place: | |||||||||||
Director | 31/12/2023 | 31/03/2023 | |||||||||
£ | £ | ||||||||||
Advances to company | |||||||||||