REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 |
FOR |
FIRST HABITATION LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 |
FOR |
FIRST HABITATION LIMITED |
FIRST HABITATION LIMITED (REGISTERED NUMBER: 08012616) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
FIRST HABITATION LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 5 APRIL 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
8 Hawkins Way |
Braintree |
Essex |
CM7 9TD |
FIRST HABITATION LIMITED (REGISTERED NUMBER: 08012616) |
BALANCE SHEET |
5 APRIL 2024 |
5.4.24 | 5.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Share premium | 13 |
Retained earnings | 13 |
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. |
FIRST HABITATION LIMITED (REGISTERED NUMBER: 08012616) |
BALANCE SHEET - continued |
5 APRIL 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
FIRST HABITATION LIMITED (REGISTERED NUMBER: 08012616) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2024 |
1. | STATUTORY INFORMATION |
First Habitation Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery | - |
Computer equipment | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year 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 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 payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
FIRST HABITATION LIMITED (REGISTERED NUMBER: 08012616) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and | Computer |
machinery | equipment | Totals |
£ | £ | £ |
COST |
At 6 April 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 5 April 2024 |
DEPRECIATION |
At 6 April 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 5 April 2024 |
NET BOOK VALUE |
At 5 April 2024 |
At 5 April 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 6 April 2023 |
Additions |
Disposals | ( |
) |
Revaluations | 30,525 |
At 5 April 2024 |
NET BOOK VALUE |
At 5 April 2024 |
At 5 April 2023 |
On 06 October 2019 the Directors introduced all the Investment Property held in their unincorporated property business, with a value of £8,700,000 to First Habitation Limited. Where the title deeds are not in the Company name they are assigned under a contractual declaration of trust. |
Fair value at 5 April 2024 is represented by: |
£ |
Valuation in 2023 | 11,791,849 |
Valuation in 2024 | 258,152 |
12,050,001 |
FIRST HABITATION LIMITED (REGISTERED NUMBER: 08012616) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2024 |
5. | INVESTMENT PROPERTY - continued |
If investment properties had not been revalued they would have been included at the following historical cost: |
5.4.24 | 5.4.23 |
£ | £ |
Cost | 10,589,735 | 10,362,107 |
Investment properties were valued on an open market basis on 5 April 2024 by the Director, Mr C Bayley . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
5.4.24 | 5.4.23 |
£ | £ |
Trade debtors |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
5.4.24 | 5.4.23 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Client monies held | 10 | 10 |
Directors' current accounts | 121,240 | 80,769 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
5.4.24 | 5.4.23 |
£ | £ |
Bank loans (see note 9) |
9. | LOANS |
An analysis of the maturity of loans is given below: |
5.4.24 | 5.4.23 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
Mortgage borrowing |
Bank loan | 10,000 | 10,000 |
FIRST HABITATION LIMITED (REGISTERED NUMBER: 08012616) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2024 |
9. | LOANS - continued |
5.4.24 | 5.4.23 |
£ | £ |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Mortgage borrowing - 1-2 years | 412,456 | 384,376 |
Amounts falling due between two and five years: |
Mortgage borrowing - 2-5 years |
Bank loan | 1,670 | 11,671 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
5.4.24 | 5.4.23 |
£ | £ |
Bank loans |
Bank borrowings are secured upon the Investment Properties shown on the Company Balance Sheet. Where liabilities are not contracted in the Company name and are still in the name of the business acquired in previous accounting periods, they are assigned under a contractual declaration of trust. |
11. | PROVISIONS FOR LIABILITIES |
5.4.24 | 5.4.23 |
£ | £ |
Deferred tax |
Deferred tax | 240 | 390 |
Deferred tax - Investment property revaluations |
365,065 |
357,432 |
365,305 | 357,822 |
Deferred |
tax |
£ |
Balance at 6 April 2023 |
Unused amounts reversed during year | ( |
) |
Investment Properties | 7,633 |
Balance at 5 April 2024 |
FIRST HABITATION LIMITED (REGISTERED NUMBER: 08012616) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2024 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 5.4.24 | 5.4.23 |
value: | £ | £ |
Ordinary A - Q Shares | 0.002 | 200 | 200 |
Ordinary R Shares | £1 | 24 | 24 |
224 | 224 |
13. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 6 April 2023 | 3,864,004 |
Deficit for the year | ( |
) | ( |
) |
At 5 April 2024 | 3,857,990 |
14. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 5 April 2024 and 5 April 2023: |
5.4.24 | 5.4.23 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
15. | ULTIMATE CONTROLLING PARTY |
The Company has no ultimate controlling party. |