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REGISTERED NUMBER: 02088033 (England and Wales)
























Clayson Country Homes Limited

Financial Statements for the Year Ended 31st July 2024






Clayson Country Homes Limited (Registered number: 02088033)

Contents of the Financial Statements
for the Year Ended 31st July 2024










Page

Company information 1

Abridged balance sheet 2

Notes to the financial statements 4


Clayson Country Homes Limited

Company Information
for the Year Ended 31st July 2024







Directors: C G Clayson
J Clayson





Registered office: 345 Wellingborough Road
Northampton
NN1 4ER





Registered number: 02088033 (England and Wales)





Accountants: A.J. Lewis
Chartered Accountant
Lewis & Son Accountants Limited
37 Stoke Road
Blisworth
Northampton
NN7 3BZ

Clayson Country Homes Limited (Registered number: 02088033)

Abridged Balance Sheet
31st July 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 3 309,827 313,665
Investments 4 250 250
310,077 313,915

Current assets
Stocks and work in progress 12,496,753 14,209,288
Debtors 5 4,237,612 3,407,284
Cash at bank 465,333 297,390
17,199,698 17,913,962
Creditors
Amounts falling due within one year 5,840,512 8,513,663
Net current assets 11,359,186 9,400,299
Total assets less current liabilities 11,669,263 9,714,214

Creditors
Amounts falling due after more than one
year

(1,531,664

)

(1,180,437

)

Provisions for liabilities (5,091 ) -
Net assets 10,132,508 8,533,777

Capital and reserves
Called up share capital 100 100
Retained earnings 10,132,408 8,533,677
10,132,508 8,533,777

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2024 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.

Clayson Country Homes Limited (Registered number: 02088033)

Abridged Balance Sheet - continued
31st July 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance sheet for the year ended 31st July 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th November 2024 and were signed on its behalf by:





C G Clayson - Director


Clayson Country Homes Limited (Registered number: 02088033)

Notes to the Financial Statements
for the Year Ended 31st July 2024


1. 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.

Preparation of consolidated financial statements
The financial statements contain information about Clayson Country Homes Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Revenue recognition
Sales are recognised upon exchange of contracts for sale of the property providing the property is largely finished and completion occurs within a reasonable time thereafter.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 5% on cost
Plant and machinery - 15% on reducing balance
Office Equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stock and work in progress
1. Land and property held for development
Land and property held for development represents land and properties on which development has not yet commenced and is stated at the lower of cost or net realisable value. Cost includes legal fees and survey expenses.

2. Work in progress
Work in progress is stated at the lower of cost or net realisable value. Cost includes the direct cost of land, labour, material and site overheads. Attributable profit on long term contracts is recognised once the outcome can be assessed with reasonable accuracy.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.


Clayson Country Homes Limited (Registered number: 02088033)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2024


1. 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between the contributions payable and the contributions actually paid in the year are shown as either accruals or prepayments at the year end.

Amounts to be billed to customers
Services provided to customers which at the balance sheet date have not been billed to customers, have been recognised as turnover. Turnover recognised in this manner is based on an assessment of the fair value of the services provided at the balance sheet date as a proportion of the total value of the engagement. Provision is made against unbilled amounts on those engagements where the right to receive payment is contingent on factors outside the control of the company. Unbilled revenue is included in debtors.

2. Employees and directors

The average number of employees during the year was 13 (2023 - 14 ) .

3. Tangible fixed assets
Totals
£   
Cost
At 1st August 2023 649,812
Additions 34,159
At 31st July 2024 683,971
Depreciation
At 1st August 2023 336,147
Charge for year 37,997
At 31st July 2024 374,144
Net book value
At 31st July 2024 309,827
At 31st July 2023 313,665

Clayson Country Homes Limited (Registered number: 02088033)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2024


4. Fixed asset investments

Information on investments other than loans is as follows:
Totals
£   
Cost
At 1st August 2023
and 31st July 2024 250
Net book value
At 31st July 2024 250
At 31st July 2023 250

5. Debtors: amounts falling due after more than one year
2024 2023
£    £   
Amounts owed by group undertakings 591,785 700,576
Other debtors 2,940,292 2,215,886
3,532,077 2,916,462

6. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 3,544,562 5,473,762
Pension fund loan 2,874,570 2,246,558
Hire purchase contracts 42,310 37,341
6,461,442 7,757,661

7. Related party disclosures

Included in other debtors is an amount of £2,290,464 (2023 - £2,117,232), due from Clayson Property Limited, a company controlled by Colin Clayson. This amount is interest free and has no fixed repayment date.

Other debtors also include an amount due from James Clayson Property Ltd of £649,828 (2023 - £98,654), a company owned by James Clayson. The loan is interest free and with no fixed repayment date.

The company has taken out loans from the Clayson Retirement Benefit Scheme that total £2,255,025 (2023 - £2,246,558)