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COMPANY REGISTRATION NUMBER: 07753339
Country Homes (Key Site) Limited
Filleted Unaudited Financial Statements
30 April 2024
Country Homes (Key Site) Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
650,000
1,300,000
Investments
5
2
2
---------
------------
650,002
1,300,002
Current assets
Debtors
6
115,135
1,392,171
Cash at bank and in hand
109,170
6,097
---------
------------
224,305
1,398,268
Creditors: amounts falling due within one year
7
184,168
194,899
---------
------------
Net current assets
40,137
1,203,369
---------
------------
Total assets less current liabilities
690,139
2,503,371
Creditors: amounts falling due after more than one year
8
513,924
1,025,819
---------
------------
Net assets
176,215
1,477,552
---------
------------
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
176,115
1,477,452
---------
------------
Shareholders funds
176,215
1,477,552
---------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Country Homes (Key Site) Limited
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 30 January 2025 , and are signed on behalf of the board by:
BA Grove
Director
Company registration number: 07753339
Country Homes (Key Site) Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Counsells, Smithbrook Kilns, Cranleigh, Surrey, GU6 8JJ, UK.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Tangible assets
Land and buildings
£
Cost
At 1 May 2023
1,300,000
Disposals
( 650,000)
------------
At 30 April 2024
650,000
------------
Depreciation
At 1 May 2023 and 30 April 2024
------------
Carrying amount
At 30 April 2024
650,000
------------
At 30 April 2023
1,300,000
------------
5. Investments
Shares in group undertakings
£
Cost
At 1 May 2023 and 30 April 2024
2
----
Impairment
At 1 May 2023 and 30 April 2024
----
Carrying amount
At 30 April 2024
2
----
At 30 April 2023
2
----
The company owns 100% of the issued share capital of the Country Homes (Tangley) Limited.
At the year end, the aggregate capital and reserves of the company amounted to (£172,857) (2023:(£1,431,653)) and loss for the year amounted to £8,527 (2020: (£7,133)).
6. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,275,069
Other debtors
115,135
117,102
---------
------------
115,135
1,392,171
---------
------------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
184,168
194,899
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
513,924
1,025,819
---------
------------
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
10. Related party transactions
The company was under the control of BA Grove throughout the current period. BA Grove is the managing director and majority shareholder. Included in other debtors are balances of £114,917 (2023: £111,704) due from companies of which BA Grove is a director and shareholder. Included in other creditors are balances of £78,894 (2023: £89,712) due to companies of which B Grove is a director and shareholder.