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Registration number: 03959121

House Builder XL Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

Pages for filing with Registrar

 

House Builder XL Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

House Builder XL Limited

Company Information

Directors

A L Wild

J M Mulgrew

J L Pizzey

S Mulgrew

Registered office

Future Space - North Gate
Filton Road
Bristol
BS34 8RB

Registered number

03959121

Accountants

Corrigan Accountants Limited
1st Floor
25 King Street
Bristol
BS1 4PB

 

House Builder XL Limited

(Registration number: 03959121)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1,130

-

Tangible assets

5

4,184

4,787

 

5,314

4,787

Current assets

 

Stocks

177

632

Debtors

6

2,804,387

2,555,680

Cash at bank and in hand

 

61,044

163,402

 

2,865,608

2,719,714

Creditors: Amounts falling due within one year

7

(748,867)

(701,227)

Net current assets

 

2,116,741

2,018,487

Total assets less current liabilities

 

2,122,055

2,023,274

Creditors: Amounts falling due after more than one year

7

(66,630)

(137,964)

Net assets

 

2,055,425

1,885,310

Capital and reserves

 

Called up share capital

8

2,000

2,000

Share premium reserve

219,360

219,360

Profit and loss account

1,834,065

1,663,950

Total equity

 

2,055,425

1,885,310

 

House Builder XL Limited

(Registration number: 03959121)
Balance Sheet as at 30 September 2024

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the Board on 30 January 2025 and signed on its behalf by:
 

.........................................

J M Mulgrew
Director

 

House Builder XL Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Future Space - North Gate
Filton Road
Bristol
BS34 8RB

2

Accounting policies

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The company's financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or support will be adequate for the company's needs. The directors have a reasonable expectation that funding will be available for a period no shorter than twelve months from the date of approval of these financial statements. Accordingly, these financial statements have been prepared on the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

House Builder XL Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Government grants

Government grants are recognised, using the accrual model, at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible fixed assets

Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation.

The cost of tangible fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Furniture, fittings and equipment

33% on cost

Intangible fixed assets

Separately acquired licences and trade-marks are shown at historical cost and are subsequently carried at cost less accumulated amortisation.

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Trade-marks

Over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are recognised initially at the transaction price. They are subsequently measured less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks comprise direct materials and are stated at cost.

Trade creditors

Trade creditors are recognised at the transaction price.

 

House Builder XL Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense when the services are received.

The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

3

Staff numbers

The average number of persons employed by the company (excluding directors) during the year, was 5 (2023 - 4). Some salary costs are charged from other companies in the group.

 

House Builder XL Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Intangible fixed assets

Trade-marks
£

Cost

At 1 October 2023

-

Additions

1,130

At 30 September 2024

1,130

Carrying amount

At 30 September 2024

1,130

At 30 September 2023

-

5

Tangible fixed assets

Furniture, fittings and equipment
 £

Cost

At 1 October 2023

119,528

Additions

3,092

At 30 September 2024

122,620

Depreciation

At 1 October 2023

114,741

Charge for the year

3,695

At 30 September 2024

118,436

Carrying amount

At 30 September 2024

4,184

At 30 September 2023

4,787

 

House Builder XL Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Debtors: amounts falling due within one year

2024
£

2023
£

Trade debtors

78,419

84,189

Amounts owed by group undertakings

2,706,696

2,455,675

Other debtors

3,228

2,422

Prepayments and accrued income

16,044

13,394

2,804,387

2,555,680

7

Creditors

2024
£

2023
£

Amounts falling due within one year

Bank loans and overdrafts

89,139

67,250

Trade creditors

18,586

19,852

Taxation and social security

43,292

33,280

Other creditors

3,100

821

Amounts owed to group undertakings

589,044

573,434

Accruals and deferred income

4,126

6,590

Corporation tax

1,580

-

748,867

701,227

2024
£

2023
£

Due after one year

Loans and borrowings

66,630

137,964

 

House Builder XL Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

2,000

2,000

2,000

2,000

         

9

Obligations under leases

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

5,290

7,802

10

Related party transactions

Receivables from related parties

2024

Parent
£

Entities under common control
£

Amounts receivable from related party

2,572,115

134,581

2023

Parent
£

Entities under common control
£

Amounts receivable from related party

2,365,855

89,820

 

House Builder XL Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Payables to related parties

2024

Parent
£

Entities under common control
£

Amounts payable to related party

-

589,044

2023

Parent
£

Entities under common control
£

Amounts payable to related party

-

573,434