Company Registration No. 04388175 (England and Wales)
Baronsmede Family Homes Limited
Unaudited accounts
for the year ended 30 June 2024
Baronsmede Family Homes Limited
Statement of financial position
as at 30 June 2024
Tangible assets
2,229,629
2,257,076
Cash at bank and in hand
22,801
7,907
Creditors: amounts falling due within one year
(839,591)
(852,643)
Net current liabilities
(816,790)
(844,736)
Total assets less current liabilities
1,412,839
1,412,340
Creditors: amounts falling due after more than one year
(226,847)
(249,024)
Net assets
1,185,992
1,163,316
Called up share capital
100
100
Profit and loss account
1,185,892
1,163,216
Shareholders' funds
1,185,992
1,163,316
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by
D J Tormey
Director
Company Registration No. 04388175
Baronsmede Family Homes Limited
Notes to the Accounts
for the year ended 30 June 2024
Baronsmede Family Homes Limited is a private company, limited by shares, registered in England and Wales, registration number 04388175. The registered office is HILLGROVE, LONDON ROAD, CROWBOROUGH, EAST SUSSEX, TN6 1TA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
over the lease term
Plant & machinery
25% on written down value
Fixtures & fittings
25% on written down value
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Baronsmede Family Homes Limited
Notes to the Accounts
for the year ended 30 June 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 July 2023
2,485,097
306,539
142,891
2,934,527
At 30 June 2024
2,485,097
307,425
142,891
2,935,413
At 1 July 2023
280,468
285,144
111,839
677,451
Charge for the year
15,000
5,570
7,763
28,333
At 30 June 2024
295,468
290,714
119,602
705,784
At 30 June 2024
2,189,629
16,711
23,289
2,229,629
At 30 June 2023
2,204,629
21,395
31,052
2,257,076
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
71,314
127,085
Obligations under finance leases and hire purchase contracts
3,570
5,340
Taxes and social security
28,815
16,859
Other creditors
735,892
703,359
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Creditors: amounts falling due after more than one year
2024
2023
Bank loans
226,847
245,455
Obligations under finance leases and hire purchase contracts
-
3,569
Aggregate of amounts that fall due for payment after five years
57,798
80,117
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Average number of employees
During the year the average number of employees was 2 (2023: 2).