Geraint Homes Ltd |
Registered number: |
08502249 |
Balance Sheet |
as at 30 April 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Current assets |
Stocks |
|
|
110,000 |
|
|
163,586 |
Debtors |
3 |
|
50 |
|
|
314 |
Cash at bank and in hand |
|
|
453 |
|
|
62 |
|
|
|
110,503 |
|
|
163,962 |
|
Creditors: amounts falling due within one year |
4 |
|
(158,684) |
|
|
(158,900) |
|
Net current (liabilities)/assets |
|
|
|
(48,181) |
|
|
5,062 |
|
Total assets less current liabilities |
|
|
|
(48,181) |
|
|
5,062 |
|
Creditors: amounts falling due after more than one year |
5 |
|
|
(11,574) |
|
|
(13,723) |
|
|
|
Net liabilities |
|
|
|
(59,755) |
|
|
(8,661) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
2 |
|
|
2 |
Profit and loss account |
|
|
|
(59,757) |
|
|
(8,663) |
|
Shareholders' funds |
|
|
|
(59,755) |
|
|
(8,661) |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
Anthony Charles Leigh |
Director |
Approved by the board on 27 November 2024 |
|
Geraint Homes Ltd |
Notes to the Accounts |
for the year ended 30 April 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Going concern |
|
These accounts have been prepared on a going concern basis which assumes that the company will continue to trade for at least the next 12 months. The director has confirmed that he will continue to support the company to enable it to meet its liabilities as they fall due. |
|
|
Stocks |
|
Stocks relate to land acquired for development purposes and is valued at the lower of cost and net realisable value. Cost of work in progress comprises direct materials, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. The Director considers all inventories to be essentially current in nature. It is not possible to determine with accuracy when specific inventory will be realised, as this will be subject to a number of variables such as consumer demand and planning permission delays. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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 future taxable profits. Deferred tax is measured using the 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
3 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Other debtors |
50 |
|
314 |
|
|
|
|
|
|
|
|
|
|
4 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans and overdrafts |
2,170 |
|
1,467 |
|
Taxation and social security costs |
5,616 |
|
- |
|
Other creditors |
150,898 |
|
157,433 |
|
|
|
|
|
|
158,684 |
|
158,900 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans |
11,574 |
|
13,723 |
|
|
|
|
|
|
|
|
|
|
6 |
Loans |
2024 |
|
2023 |
£ |
£ |
|
Creditors include: |
|
Instalments falling due for payment after more than five years |
2,893 |
|
5,361 |
|
|
|
|
|
|
|
|
|
|
7 |
Related party transactions |
|
|
Interest free unsecured loans were made to and repaid from the company by Anthony Charles Leigh during the period. The amount due to Anthony Charles Leigh at the period end was £150,279 (2023: £157,120). Loans are repayable on demand. |
|
|
8 |
Controlling party |
|
|
The company is controlled by Anthony Charles Leigh. |
|
|
9 |
Other information |
|
|
Geraint Homes Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
Ynys Cyngar |
|
Morfa Bychan |
|
Porthmadog |
|
Gwynedd |
|
LL49 9UU |