KEBLE HOMES DEVELOPMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 DECEMBER 2023
Company Registration Number: 10921362
KEBLE HOMES DEVELOPMENTS 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 7
KEBLE HOMES DEVELOPMENTS LIMITED
COMPANY INFORMATION
FOR THE PERIOD ENDED 31 DECEMBER 2023
DIRECTOR
O J McGovern
SECRETARY
The company does not have an appointed secretary
REGISTERED OFFICE
C9 Glyme Court
Oxford Office Villiage
Langford Lane
Kidlington
Oxford
OX5 1LQ
COMPANY REGISTRATION NUMBER
10921362 England and Wales
KEBLE HOMES DEVELOPMENTS LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
Notes 31 December 2023 31 August 2022
£ £
CURRENT ASSETS
Stock 272,714 -
Debtors 5 322,307 326,125
Cash at bank and in hand 1,719 1,496
596,740 327,621
CREDITORS: Amounts falling due within one year 6 1,541,493 1,261,238
NET CURRENT LIABILITIES (944,753) (933,617)
CURRENT LIABILITIES LESS TOTAL ASSETS (944,753) (933,617)
CREDITORS: Amounts falling due after more than one year 7 17,008 27,498
NET LIABILITIES (961,761) (961,115)
CAPITAL AND RESERVES
Called up share capital 1 1
Distributable profit and loss account (961,762) (961,116)
SHAREHOLDER'S DEFICIT (961,761) (961,115)
KEBLE HOMES DEVELOPMENTS LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial period ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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: 27 November 2024
KEBLE HOMES DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
1 GENERAL INFORMATION
Keble Homes Developments Limited is a private company limited by shares and incorporated in England and Wales. Its registered office and principal place of business are:
Registered office Principal place of business
C9 Glyme Court The Old Exchange
Oxford Office Villiage 16 Market Place
Langford Lane Woodstock
Kidlington Oxfordshire
Oxford OX20 1TA
OX5 1LQ
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Going concern
The accounts have been drawn up on the going concern basis. The company owes its creditors £1,558,501 (31/08/2022 - £1,288,736) which could be required for repayment without notice. The company is therefore dependent upon the continued support of the creditors. The director does not consider the support of the creditors 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 is measured at the fair value of consideration received or receivable and represents the sale of new build homes.
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 DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
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.
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
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
KEBLE HOMES DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. 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 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.
Current and deferred tax assets and liabilities are not discounted.
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 31/08/2022
Average number of employees 1 1
5 DEBTORS
31/12/2023 31/08/2022
£ £
Other debtors 322,307 326,125
KEBLE HOMES DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
6 CREDITORS: Amounts falling due within one year
31/12/2023 31/08/2022
£ £
Bank loans and overdrafts 204,156 15,589
Trade creditors 6,019 8,267
Accruals and deferred income 3,500 1,500
Other creditors 1,327,818 1,235,882
1,541,493 1,261,238
7 CREDITORS: Amounts falling due after more than one year
31/12/2023 31/08/2022
£ £
Bank loans and overdrafts 17,008 27,498
8 SECURED DEBTS
The company has a bank loan with Close Brothers which is secured on the property included within work in progress.
9 RELATED PARTY TRANSACTIONS
The company has claimed exemptions from reporting disclosure of related party transactions with the following wholly owned group members:
Keble Homes Limited - Parent company
During the period / year, the following transactions with related parties took place:
O J McGovern
Director 31/12/2023 31/08/2022
£ £
Advances to company The director has made advances to the company which are repayable on demand. No interest has been charged on these advances. At the period / year end, the company owed the director the following amount: 54,447 3,547
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