Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Mark Jonathan Daniel Cox 30/09/2005 Oliver Thomas James Cox 10/10/2023 02/04/2020 Toby Michael Cox 10/10/2023 31/08/2006 Nicholas Dean Rogers 13/10/2006 19 January 2025 The principal activity of the Company during the financial year was the development and sale of real estate. 05579449 2024-04-30 05579449 bus:Director1 2024-04-30 05579449 bus:Director2 2024-04-30 05579449 bus:Director3 2024-04-30 05579449 bus:Director4 2024-04-30 05579449 2023-04-30 05579449 core:CurrentFinancialInstruments 2024-04-30 05579449 core:CurrentFinancialInstruments 2023-04-30 05579449 core:ShareCapital 2024-04-30 05579449 core:ShareCapital 2023-04-30 05579449 core:RetainedEarningsAccumulatedLosses 2024-04-30 05579449 core:RetainedEarningsAccumulatedLosses 2023-04-30 05579449 core:CostValuation 2023-04-30 05579449 core:DisposalsDecreaseInInvestments 2024-04-30 05579449 core:CostValuation 2024-04-30 05579449 core:ImmediateParent core:CurrentFinancialInstruments 2024-04-30 05579449 core:ImmediateParent core:CurrentFinancialInstruments 2023-04-30 05579449 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2024-04-30 05579449 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2023-04-30 05579449 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2024-04-30 05579449 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2023-04-30 05579449 bus:OrdinaryShareClass1 2024-04-30 05579449 2023-05-01 2024-04-30 05579449 bus:FilletedAccounts 2023-05-01 2024-04-30 05579449 bus:SmallEntities 2023-05-01 2024-04-30 05579449 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 05579449 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05579449 bus:Director1 2023-05-01 2024-04-30 05579449 bus:Director2 2023-05-01 2024-04-30 05579449 bus:Director3 2023-05-01 2024-04-30 05579449 bus:Director4 2023-05-01 2024-04-30 05579449 2022-05-01 2023-04-30 05579449 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 05579449 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05579449 (England and Wales)

BOVEY HOMES LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

BOVEY HOMES LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

BOVEY HOMES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 April 2024
BOVEY HOMES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 0 50
0 50
Current assets
Stocks 4 0 50,000
Debtors 5 3,327 78,225
Investments 253 253
Cash at bank and in hand 131 324
3,711 128,802
Creditors: amounts falling due within one year 6 ( 243,662) ( 347,426)
Net current liabilities (239,951) (218,624)
Total assets less current liabilities (239,951) (218,574)
Net liabilities ( 239,951) ( 218,574)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account ( 240,051 ) ( 218,674 )
Total shareholders' deficit ( 239,951) ( 218,574)

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A. The financial statements of Bovey Homes Limited (registered number: 05579449) were approved and authorised for issue by the Board of Directors on 19 January 2025. They were signed on its behalf by:

Mark Jonathan Daniel Cox
Director
BOVEY HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
BOVEY HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Bovey Homes Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leatside Challabrook Lane, Bovey Tracey, Newton Abbot, TQ13 9DF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

In 2023 the directors made the decision that the Company would cease trading. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 4

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 May 2023 50
Disposals ( 50)
At 30 April 2024 0
Carrying value at 30 April 2024 0
Carrying value at 30 April 2023 50

4. Stocks

2024 2023
£ £
Work in progress 0 50,000

5. Debtors

2024 2023
£ £
Amounts owed by Parent undertakings 2,550 2,500
Amounts owed by own subsidiaries 0 72,000
Other debtors 777 3,725
3,327 78,225

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 1,290 0
Amounts owed to fellow subsidiaries 224,138 294,988
Amounts owed to directors 0 49,438
Accruals 1,500 3,000
Other creditors 16,734 0
243,662 347,426

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Balance owed to a director at the year end 0 49,438
Balance due from a director at the year end 562 0

Interest is charged at HMRC approved rates when overdrawn. The loans have no fixed date of repayment.