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REGISTERED NUMBER: 08012616 (England and Wales)















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: C Bayley
D S Bayley





REGISTERED OFFICE: 6 Tees Close
Witham
Essex
CM8 1LG





REGISTERED NUMBER: 08012616 (England and Wales)





ACCOUNTANTS: Hunter's Accounting Services Limited
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 2,253 1,872
Investment property 5 12,050,001 11,791,849
12,052,254 11,793,721

CURRENT ASSETS
Debtors 6 25,646 20,684
Cash at bank 9,171 16,098
34,817 36,782
CREDITORS
Amounts falling due within one year 7 555,502 488,388
NET CURRENT LIABILITIES (520,685 ) (451,606 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,531,569

11,342,115

CREDITORS
Amounts falling due after more than one
year

8

(7,308,050

)

(7,120,065

)

PROVISIONS FOR LIABILITIES 11 (365,305 ) (357,822 )
NET ASSETS 3,858,214 3,864,228

CAPITAL AND RESERVES
Called up share capital 12 224 224
Share premium 13 2,778,416 2,778,416
Retained earnings 13 1,079,574 1,085,588
SHAREHOLDERS' FUNDS 3,858,214 3,864,228

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2024 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 30 December 2024 and were signed on its behalf by:




C Bayley - Director



D S Bayley - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Computer equipment - 33% on cost

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 5 (2023 - 5 ) .

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 2,744 3,698 6,442
Additions - 2,430 2,430
Disposals (399 ) (500 ) (899 )
At 5 April 2024 2,345 5,628 7,973
DEPRECIATION
At 6 April 2023 2,553 2,017 4,570
Charge for year 191 1,858 2,049
Eliminated on disposal (399 ) (500 ) (899 )
At 5 April 2024 2,345 3,375 5,720
NET BOOK VALUE
At 5 April 2024 - 2,253 2,253
At 5 April 2023 191 1,681 1,872

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 6 April 2023 11,791,849
Additions 229,077
Disposals (1,450 )
Revaluations 30,525
At 5 April 2024 12,050,001
NET BOOK VALUE
At 5 April 2024 12,050,001
At 5 April 2023 11,791,849

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 13,455 6,379
Prepayments and accrued income 12,191 14,305
25,646 20,684

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.4.24 5.4.23
£    £   
Bank loans and overdrafts (see note 9) 429,002 402,609
Client monies held 10 10
Directors' current accounts 121,240 80,769
Accrued expenses 5,250 5,000
555,502 488,388

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
5.4.24 5.4.23
£    £   
Bank loans (see note 9) 7,308,050 7,120,065

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 6,546 8,233
Mortgage borrowing 412,456 384,376
Bank loan 10,000 10,000
429,002 402,609

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 10,000 10,000
Mortgage borrowing - 1-2 years 412,456 384,376
422,456 394,376

Amounts falling due between two and five years:
Mortgage borrowing - 2-5 years 6,883,924 6,714,018
Bank loan 1,670 11,671
6,885,594 6,725,689

10. SECURED DEBTS

The following secured debts are included within creditors:

5.4.24 5.4.23
£    £   
Bank loans 7,730,506 7,514,441

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 357,822
Unused amounts reversed during year (150 )
Investment Properties 7,633
Balance at 5 April 2024 365,305

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: £    £   
100,000 Ordinary A - Q Shares 0.002 200 200
24 Ordinary R Shares £1 24 24
224 224

13. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 6 April 2023 1,085,588 2,778,416 3,864,004
Deficit for the year (6,014 ) (6,014 )
At 5 April 2024 1,079,574 2,778,416 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
£    £   
C Bayley and D S Bayley
Balance outstanding at start of year (80,769 ) (266,202 )
Amounts advanced 132,915 290,433
Amounts repaid (173,386 ) (105,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (121,240 ) (80,769 )

15. ULTIMATE CONTROLLING PARTY

The Company has no ultimate controlling party.