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REGISTERED NUMBER: 04437413 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

BAXTER HOMES LIMITED

BAXTER HOMES LIMITED (REGISTERED NUMBER: 04437413)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BAXTER HOMES LIMITED

COMPANY INFORMATION
for the Year Ended 30 April 2024







DIRECTORS: Mr I D Baxter
Mr W J Baxter
Mr C I Baxter



SECRETARY: Mr I D Baxter



REGISTERED OFFICE: 5 Crescent East
Thornton Cleveleys
Lancashire
FY5 3LJ



REGISTERED NUMBER: 04437413 (England and Wales)



ACCOUNTANTS: ma2 Limited
Chartered Accountants
5 Crescent East
Thornton Cleveleys
Lancashire
FY5 3LJ



BANKERS: National Westminster Bank plc
PO Box 10
26 Talbot Road
Blackpool
Lancashire
FY1 1LQ

BAXTER HOMES LIMITED (REGISTERED NUMBER: 04437413)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 250,000 -
Tangible assets 5 28,055 29,705
278,055 29,705

CURRENT ASSETS
Stocks 6 3,080,769 5,438,840
Debtors 7 1,275,302 1,817,003
Cash at bank 1,042,212 303,309
5,398,283 7,559,152
CREDITORS
Amounts falling due within one year 8 3,837,249 5,514,866
NET CURRENT ASSETS 1,561,034 2,044,286
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,839,089

2,073,991

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,839,088 2,073,990
SHAREHOLDERS' FUNDS 1,839,089 2,073,991

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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.

BAXTER HOMES LIMITED (REGISTERED NUMBER: 04437413)

BALANCE SHEET - continued
30 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 8 January 2025 and were signed on its behalf by:





Mr C I Baxter - Director


BAXTER HOMES LIMITED (REGISTERED NUMBER: 04437413)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

Baxter Homes 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.

Turnover
Turnover represents the sale of homes which have been at the stage of exchange of contracts - no income has been included for those which have not yet reached the stage of completion.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Ground rent asset are being amortised evenly over their estimated useful life of nil years.

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 reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


BAXTER HOMES LIMITED (REGISTERED NUMBER: 04437413)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024


2. ACCOUNTING POLICIES - continued
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.

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.

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 NIL (2023 - NIL).

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 250,000
At 30 April 2024 250,000
NET BOOK VALUE
At 30 April 2024 250,000

BAXTER HOMES LIMITED (REGISTERED NUMBER: 04437413)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023 212,903 6,713 40,569 260,185
Additions 5,517 - - 5,517
At 30 April 2024 218,420 6,713 40,569 265,702
DEPRECIATION
At 1 May 2023 190,314 4,127 36,039 230,480
Charge for year 5,647 388 1,132 7,167
At 30 April 2024 195,961 4,515 37,171 237,647
NET BOOK VALUE
At 30 April 2024 22,459 2,198 3,398 28,055
At 30 April 2023 22,589 2,586 4,530 29,705

6. STOCKS
2024 2023
£    £   
Stocks 3,080,769 5,438,840

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 24,887 4,714
Other debtors - 1,502
The Baxter Group Limited 271,182 -
Newberry Homes Limited 221,606 1,784,960
Baxter Estates Limited 17,709 15,509
Baxter Aggregates Limited - 9,556
Baxter Homes (Tithebarn) Ltd 689,456 -
Directors' current accounts 2,799 -
VAT 45,846 -
Prepayments 1,817 762
1,275,302 1,817,003

BAXTER HOMES LIMITED (REGISTERED NUMBER: 04437413)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 496 -
Trade creditors 249,621 606,185
Tax (50,618 ) 139,134
Social security and other taxes 3,256 80,980
Baxter Construction Limited 1,329,022 1,907,977
The Baxter Group Limited - 216,728
Joy Baxter Disc Sttlmnt 650,000 650,000
Ian Baxter Disc Settlmnt 325,000 325,000
Directors' current accounts 1,304,058 1,570,237
Accrued expenses 26,414 18,625
3,837,249 5,514,866

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 496 -

The above debts are secured by a debenture dated 15 June 2018 and one dated 26 April 2018 over land at Bowgreave, of a floating charge over all assets of the company and mortgages over the land held.

10. RELATED PARTY DISCLOSURES

At 30 April 2024, a loan of £1,329,022 (2023 - £1,907,977) was owing to Baxter Construction Limited.

At 30 April 2024 a loan of £271,182 was owed by The Baxter Group Limited (2023 - £216,728 was owed to The Baxter Group Limited)

At 30 April 2024 a loan of £17,709 (2023 - £15,509) was owed by Baxter Estates Limited.