COMPANY REGISTRATION NUMBER:
14072739
Stancliffe Homes (Oxcroft) Ltd |
|
Filleted Unaudited Abridged Financial Statements |
|
Stancliffe Homes (Oxcroft) Ltd |
|
Abridged Statement of Financial Position |
|
30 June 2024
Current Assets
Stocks |
2,713,059 |
|
1,290,142 |
Debtors |
34,313 |
|
4,567,742 |
Cash at bank and in hand |
501,689 |
|
727,116 |
|
------------ |
|
------------ |
|
3,249,061 |
|
6,585,000 |
|
|
|
|
Creditors: amounts falling due within one year |
3,162,508 |
|
6,129,621 |
|
------------ |
|
------------ |
Net Current Assets |
|
86,553 |
455,379 |
|
|
-------- |
--------- |
Total Assets Less Current Liabilities |
|
86,553 |
455,379 |
|
|
-------- |
--------- |
Net Assets |
|
86,553 |
455,379 |
|
|
-------- |
--------- |
|
|
|
|
Capital and Reserves
Called up share capital |
5 |
|
1 |
1 |
Profit and loss account |
|
86,552 |
455,378 |
|
|
-------- |
--------- |
Shareholders Funds |
|
86,553 |
455,379 |
|
|
-------- |
--------- |
|
|
|
|
|
These abridged 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 abridged statement of comprehensive income has not been delivered.
For the year ending 30 June 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 abridged financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.
Stancliffe Homes (Oxcroft) Ltd |
|
Abridged Statement of Financial Position (continued) |
|
30 June 2024
These abridged financial statements were approved by the
board of directors
and authorised for issue on
5 February 2025
, and are signed on behalf of the board by:
Mr S Jones |
Mr S Jones |
Director |
Director |
|
|
Company registration number:
14072739
Stancliffe Homes (Oxcroft) Ltd |
|
Notes to the Abridged Financial Statements |
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Year Ended 30 June 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 Office 3 Markham Lane, Markham Vale, Chesterfield, S44 5HY.
2.
Statement of compliance
These abridged 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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Revenue is recognised as the fair value of the consideration received or receivable of a newly built residential property sale when unconditionally exchanged at the year end.
Income tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Work in progress
Work in progress is stated at the lower of cost and net realisable value. Land with planning includes undeveloped land and land under development and is initially recorded at cost. Work in progress comprises direct materials, labour costs, site overheads, associated professional charges and other attributable overheads. Net realisable value represents the estimated selling prices less all estimated costs of completion and overheads. Regular reviews are carried out to identify any impairment in the value of the land. Provision would be made to reflect any irrecoverable amounts.
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
2
).
5.
Called up share capital
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
1 |
1 |
1 |
1 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
6.
Related party transactions
During the year the company made/(received) short term loans to related parties. The balance outstanding due from/(to) related parties at 30 June 2024 are as follows:
|
|
2024 |
2023 |
|
|
£ |
£ |
|
Amounts owed to entities holding a controlling interest |
(
848,132) |
(
4,183,245) |
|
|
|
|
The loans are unsecured, interest free and repayable on demand.
7.
Controlling party
The directors consider the ultimate parent undertaking to be Stancliffe Homes Limited, a company registered in England and Wales. The parent company's registered office address is Office 3 Markham Lane, Markham Vale, Chesterfield, England, S44 5HY.