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REGISTERED NUMBER: 02275214 (England and Wales)













Firstpost Homes Limited

Unaudited Financial Statements

for the Year Ended 31 July 2024






Firstpost Homes Limited (Registered number: 02275214)






Contents of the Financial Statements
for the year ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Firstpost Homes Limited

Company Information
for the year ended 31 July 2024







DIRECTORS: G Hale
Mrs M Hale



REGISTERED OFFICE: 28 Cannock Road
Burntwood
Staffordshire
WS7 0BJ



REGISTERED NUMBER: 02275214 (England and Wales)



ACCOUNTANTS: Slaters & Co Accountants
Lymore Villa
162a London Road
Chesterton
Newcastle
Staffordshire
ST5 7JB



SOLICITORS: Jennings Perks & Co
Lloyds Bank Chambers
3 High Street
Aldridge
Walsall
WS9 8LX

Firstpost Homes Limited (Registered number: 02275214)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 243,670 274,045

CURRENT ASSETS
Stocks 9,366,125 6,872,530
Debtors 5 1,230,386 63,525
Cash at bank and in hand 8,240,760 10,794,774
18,837,271 17,730,829
CREDITORS
Amounts falling due within one year 6 1,652,061 721,391
NET CURRENT ASSETS 17,185,210 17,009,438
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,428,880

17,283,483

PROVISIONS FOR LIABILITIES - 3,151
NET ASSETS 17,428,880 17,280,332

CAPITAL AND RESERVES
Called up share capital 2,200 2,200
Reserve for own shares 2,200 2,200
Retained earnings 17,424,480 17,275,932
SHAREHOLDERS' FUNDS 17,428,880 17,280,332

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Firstpost Homes Limited (Registered number: 02275214)

Balance Sheet - continued
31 July 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 29 November 2024 and were signed on its behalf by:





G Hale - Director


Firstpost Homes Limited (Registered number: 02275214)

Notes to the Financial Statements
for the year ended 31 July 2024

1. STATUTORY INFORMATION

Firstpost 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 comprises the fair value of the consideration received or receivable, net of rebates and discounts. Revenue and profit are recognised as follows:

Private housing development properties and land sales

Turnover is recognised when the significant risks and rewards of ownership have been transferred to the puchaser. Revenue in respect of the sale of residential properties is recognised at the fair value of the consideration received or receivable on legal completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value after provision for any relevant obsolescence or exposure to the housing market, land and property developments are valued based upon the costs incurred to the percentage completion as at the year end but do not include any fixed or variable overhead costs incurred which are of an external nature to the development and unless market conditions are such that a revision is required in the carrying value of the developments, the above costs are disclosed in the financial statements.

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 8 (2023 - 8 ) .

Firstpost Homes Limited (Registered number: 02275214)

Notes to the Financial Statements - continued
for the year ended 31 July 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 August 2023 148,350 234,271 20,601 212,967 616,189
Additions - 5,331 3,211 122,853 131,395
Disposals - - - (134,170 ) (134,170 )
At 31 July 2024 148,350 239,602 23,812 201,650 613,414
DEPRECIATION
At 1 August 2023 121,528 124,075 14,875 81,666 342,144
Charge for year 5,934 23,106 1,813 41,079 71,932
Eliminated on disposal - - - (44,332 ) (44,332 )
At 31 July 2024 127,462 147,181 16,688 78,413 369,744
NET BOOK VALUE
At 31 July 2024 20,888 92,421 7,124 123,237 243,670
At 31 July 2023 26,822 110,196 5,726 131,301 274,045

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,230,386 63,525

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 86,271 39,979
Taxation and social security 261,943 554,799
Other creditors 1,303,847 126,613
1,652,061 721,391