REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 FEBRUARY 2023 TO 29 FEBRUARY 2024 |
FOR |
BAYVIEW HOMES SOUTHERN LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 FEBRUARY 2023 TO 29 FEBRUARY 2024 |
FOR |
BAYVIEW HOMES SOUTHERN LIMITED |
BAYVIEW HOMES SOUTHERN LIMITED (REGISTERED NUMBER: 07904160) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 FEBRUARY 2023 TO 29 FEBRUARY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
BAYVIEW HOMES SOUTHERN LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 FEBRUARY 2023 TO 29 FEBRUARY 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
7 St John's Road |
Harrow |
Middlesex |
HA1 2EY |
BAYVIEW HOMES SOUTHERN LIMITED (REGISTERED NUMBER: 07904160) |
BALANCE SHEET |
29 FEBRUARY 2024 |
29.2.24 | 31.1.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investments | 5 |
CURRENT ASSETS |
Inventories | 6 |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
BAYVIEW HOMES SOUTHERN LIMITED (REGISTERED NUMBER: 07904160) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 FEBRUARY 2023 TO 29 FEBRUARY 2024 |
1. | STATUTORY INFORMATION |
Bayview Homes Southern Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The financial statements have been prepared on a going concern basis not withstanding net current liabilities position as at the year end. The directors of the company have provided the company with an undertaking that they will continue to support the company financially for the foreseeable future and they will not seek repayment of the amount currently owing to them in the twelve months from the date of signing the financial statements. |
Turnover |
Turnover consist of revenue generated from supply of contracted services and is reconginsed in the year of service provided. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Work in progress |
Work in progress consist of properties under development and is valued at the lower of cost and net realisable value. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
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 period 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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Investment in subsidiary |
Investment in the subsidiary is stated in the balance sheet at cost less impairment provision. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
BAYVIEW HOMES SOUTHERN LIMITED (REGISTERED NUMBER: 07904160) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 FEBRUARY 2023 TO 29 FEBRUARY 2024 |
4. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 February 2023 |
Additions |
At 29 February 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for period |
At 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 31 January 2023 |
5. | FIXED ASSET INVESTMENTS |
Investment |
in |
Subsidiary |
Compa ny |
£ |
COST |
At 1 February 2023 |
and 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 31 January 2023 |
6. | INVENTORIES |
29.2.24 | 31.1.23 |
£ | £ |
Work in progress |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.24 | 31.1.23 |
£ | £ |
Trade debtors |
Amounts owed by subsidiary |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.24 | 31.1.23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
BAYVIEW HOMES SOUTHERN LIMITED (REGISTERED NUMBER: 07904160) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 FEBRUARY 2023 TO 29 FEBRUARY 2024 |
9. | RELATED PARTY DISCLOSURES |
As at the balance sheet date, the company owed £513,661 (2023: £547,244) to the directors. There are no specific terms of repayment. |
Included in debtors as at the balance sheet date is £595,567 (2023: £169,285) an amount owed by 193 Oldfield Lane Limited, a company where Mr Daniel Breen and Mrs Claire Breen are also directors.This amount owed is interest free and has no specific terms of repayment. |
Included in other creditors as at the balance sheet date is £1,000,000 an amount owed to Eastsnow Estates Limited, a company where Mr John B Breen is also a director. This loan is unsecured, interest free and has no specific terms of repayment. |