Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29falsetruefalseSale of properties02023-03-010The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13221395 2023-02-28 13221395 2023-03-01 2024-02-29 13221395 2022-03-01 2023-02-28 13221395 2024-02-29 13221395 c:Director1 2023-03-01 2024-02-29 13221395 d:CurrentFinancialInstruments 2024-02-29 13221395 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 13221395 d:ShareCapital 2024-02-29 13221395 d:RetainedEarningsAccumulatedLosses 2024-02-29 13221395 c:FRS102 2023-03-01 2024-02-29 13221395 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 13221395 c:FullAccounts 2023-03-01 2024-02-29 13221395 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13221395 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 13221395









P & E HOMES LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
P & E HOMES LTD
REGISTERED NUMBER: 13221395

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
2024
Note
£

  

Current assets
  

Stocks
 4 
259,516

Debtors: amounts falling due within one year
 5 
4,668

  
264,184

Creditors: amounts falling due within one year
 6 
(265,275)

Net current (liabilities)/assets
  
 
 
(1,091)

Total assets less current liabilities
  
(1,091)

  

Net (liabilities)/assets
  
(1,091)


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
(1,191)

  
(1,091)


Page 1

 
P & E HOMES LTD
REGISTERED NUMBER: 13221395
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 February 2025.




................................................
David John Jacobs
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
P & E HOMES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

The Company is a private company limited by share capital, incorporated in England and Wales. The principal activity of the Company throughout the year was that of property devlopment and sales.The company was incorporated on the 24th February 2021 and commenced trading on the 1st March 2023.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts have been prepared on a going concern basis. This assumes the continued support of the directors which they have pledged for the foreseeable future. 

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
P & E HOMES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 0 (2023 - 0).


4.


Stocks

29 February
2024
£

Work in progress
259,516

259,516



5.


Debtors

29 February
2024
£


Amounts owed by group undertakings
50

Other debtors
4,618

4,668


Page 4

 
P & E HOMES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Creditors: Amounts falling due within one year

29 February
2024
£

Bank overdrafts
60

Trade creditors
21,708

Amounts owed to group undertakings
242,557

Accruals and deferred income
950

265,275



7.


Controlling party

There is no overall controlling party.

 
Page 5