REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 March 2023 to 31 March 2024 |
for |
Homes By Warwick Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 March 2023 to 31 March 2024 |
for |
Homes By Warwick Ltd |
Homes By Warwick Ltd (Registered number: 05661712) |
Contents of the Financial Statements |
for the Period 1 March 2023 to 31 March 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Homes By Warwick Ltd |
Company Information |
for the Period 1 March 2023 to 31 March 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chancery House |
41a Hanger Hill |
Weybridge |
Surrey |
KT13 9XZ |
Homes By Warwick Ltd (Registered number: 05661712) |
Abridged Balance Sheet |
31 March 2024 |
31.3.24 | 28.2.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS | 7 |
The director acknowledges his 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. |
Homes By Warwick Ltd (Registered number: 05661712) |
Abridged Balance Sheet - continued |
31 March 2024 |
The financial statements were approved by the director and authorised for issue on |
Homes By Warwick Ltd (Registered number: 05661712) |
Notes to the Financial Statements |
for the Period 1 March 2023 to 31 March 2024 |
1. | STATUTORY INFORMATION |
Homes By Warwick Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover comprises revenue recognised by the Company in respect of the sale of properties developed by the Company, and is recognised upon exchange of the relevant site, exclusive of value added tax. |
Profit on construction projects is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations in contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year which they are first foreseen. |
Tangible fixed assets |
Plant and machinery etc | - |
Stocks |
Stock and work in progress comprise developments in progress. Developments in progress include land and units in the course of construction and include the cost of the land and the construction costs incurred to date. |
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. |
Homes By Warwick Ltd (Registered number: 05661712) |
Notes to the Financial Statements - continued |
for the Period 1 March 2023 to 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 March 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 March 2023 |
Charge for period |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 28 February 2023 |
5. | SECURED DEBTS |
The following secured debts are included within creditors amounts falling due within one year: |
Bank and other loans in the sum of £nil (2023: £217,151). |
6. | RELATED PARTY DISCLOSURES |
During the period, total dividends of £1,000 (2023 - £2,000) were paid to the director . |
Entities under common control |
During the year the Company made purchases in the sum of £556,000 (2023: £150,000) from related parties. |
M Jennings - a director |
At the year end £14,797 (2023: £55,720) was owed by M Jennings. This was repaid after the year end. |
Homes By Warwick Ltd (Registered number: 05661712) |
Notes to the Financial Statements - continued |
for the Period 1 March 2023 to 31 March 2024 |
7. | RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS |
31.3.24 | 28.2.23 |
£ | £ |
Profit for the financial period |
Dividends | ( |
) | ( |
) |
Net addition to shareholders' funds | 97,223 | 162,708 |
Opening shareholders' funds | 924,266 | 761,558 |
Closing shareholders' funds | 1,021,489 | 924,266 |