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Registration number: 04323519

Park Broom Homes (Spofforth) Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Park Broom Homes (Spofforth) Limited

(Registration number: 04323519)

Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

3

300

300

Current assets

 

Stocks

1,786,647

1,785,827

Debtors

4

219,958

446,015

Cash at bank and in hand

 

129,506

38,757

 

2,136,111

2,270,599

Creditors: Amounts falling due within one year

5

(1,877,077)

(2,009,977)

Net current assets

 

259,034

260,622

Net assets

 

259,334

260,922

Capital and reserves

 

Called up share capital

6

400

400

Profit and loss account

258,934

260,522

Shareholders' funds

 

259,334

260,922

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 31 October 2024 and signed on its behalf by:
 

.........................................

Mr P J Rossington
Director

 

Park Broom Homes (Spofforth) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

Accounting policies

Statutory information

Park Broom Homes (Spofforth) Limited is a private company, limited by shares, domiciled in England and Wales, company number 04323519. The registered office is at Sutton House Farm, Mattersey Road, Sutton-cum-Lound, Retford, DN22 8PW.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover comprises the sale of completed plots.

Investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Stocks

Stocks is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Park Broom Homes (Spofforth) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

3

Investments

2024
£

2023
£

Investments in subsidiaries

300

300

Subsidiaries

£

Cost

At 1 April 2023 and 31 March 2024

300

Carrying amount

At 31 March 2023 and 31 March 2024

300

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

DCO Ventures I Limited

England

Ordinary

100%

100%

 

Park Broom Homes (Spofforth) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

4

Debtors

2024
£

2023
£

Amounts owed by group undertakings

1,015

1,015

Other debtors

218,943

445,000

219,958

446,015

5

Creditors

2024
£

2023
£

Due within one year

Taxation and social security

280

280

Other creditors

1,875,297

2,006,322

Accruals

1,500

3,375

1,877,077

2,009,977

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary A shares of £1 each of £1 each

100

100

100

100

Ordinary B shares of £1 each of £1 each

100

100

100

100

Ordinary C shares of £1 each of £1 each

200

200

200

200

 

400

400

400

400

7

Related party transactions

During the year the directors had a loan account with the company. At the balance sheet date the amount due from the directors was £nil (2023: £445,000). The loan was interest free.

8

Ultimate controlling party

The company has taken advantage of the exemption available under FRS 102 and has not disclosed related party transactions which are all considered to be at arms length on normal commercial terms.

The ultimate controlling party is Mr and Mrs P J Rossington.