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REGISTERED NUMBER: 06264639 (England and Wales)















Borne Homes Limited

Unaudited Financial Statements

for the Year Ended 31 July 2024






Borne Homes Limited (Registered number: 06264639)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Borne Homes Limited

Company Information
for the year ended 31 July 2024







Directors: F A Bellenger
J Hughes
J Hughes
D Hughes





Secretary: G A Hughes





Registered office: Second Floor LHS
10 Bull Plain
Hertford
Hertfordshire
SG14 1DT





Registered number: 06264639 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Borne Homes Limited (Registered number: 06264639)

Balance Sheet
31 July 2024

2024 2023
Notes £ £ £ £
Fixed assets
Investment property 4 470,000 470,000

Current assets
Debtors 5 108,251 109,299
Cash at bank 11,652 5,158
119,903 114,457
Creditors
Amounts falling due within one year 6 5,859 5,776
Net current assets 114,044 108,681
Total assets less current liabilities 584,044 578,681

Creditors
Amounts falling due after more than one
year

7

(352,420

)

(352,394

)

Provisions for liabilities (30,489 ) (37,838 )
Net assets 201,135 188,449

Capital and reserves
Called up share capital 9 100 100
Fair value reserve 10 168,661 199,150
Retained earnings 10 32,374 (10,801 )
Shareholders' funds 201,135 188,449

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.

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 11 February 2025 and were signed on its behalf by:



J Hughes - Director


Borne Homes Limited (Registered number: 06264639)

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


1. Statutory information

Borne 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

Turnover
Turnover represents rent receivable, excluding value added tax, during the year.

Investment property
Investment Property, which is property held to earn rentals and/or for capital appreciation is initially recognised at costs which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in the fair value are recognised in the profit and loss. Deferred taxation is provided on gains at the rate expected to apply when the property is sold.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from the bank and other third parties, loans to related parties, and investment in ordinary shares.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Borne Homes Limited (Registered number: 06264639)

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


2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. Employees and directors

The average number of employees during the year was 4 (2023 - 4 ) .

4. Investment property
Total
£
Fair value
At 1 August 2023
and 31 July 2024 470,000
Net book value
At 31 July 2024 470,000
At 31 July 2023 470,000

5. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors - 500
Amounts owed by group undertakings 105,814 107,189
Other debtors 2,437 1,610
108,251 109,299

6. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors - 160
Amounts owed to group undertakings 138 -
Other creditors 5,721 5,616
5,859 5,776

7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans 352,420 352,394

Borne Homes Limited (Registered number: 06264639)

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


8. Secured debts

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans 352,420 352,394

Paratus Amc Limited holds a fixed and floating charge over the assets of the company.

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100

10. Reserves
Retained Fair value
earnings reserve Totals
£ £ £

At 1 August 2023 (10,801 ) 199,150 188,349
Profit for the year 12,686 12,686
Property revaluation 30,489 (30,489 ) -
At 31 July 2024 32,374 168,661 201,035