REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 April 2023 to 30 March 2024 |
for |
Jacob Homes 1 Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 April 2023 to 30 March 2024 |
for |
Jacob Homes 1 Limited |
Jacob Homes 1 Limited (Registered number: 09892409) |
Contents of the Financial Statements |
for the Period 1 April 2023 to 30 March 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 2 |
Jacob Homes 1 Limited (Registered number: 09892409) |
Balance Sheet |
30 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 were approved by the Board of Directors and authorised for issue on |
Jacob Homes 1 Limited (Registered number: 09892409) |
Notes to the Financial Statements |
for the Period 1 April 2023 to 30 March 2024 |
1. | STATUTORY INFORMATION |
Jacob Homes 1 Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on a going concern basis notwithstanding the deficit in net assets. The main creditors of the company are Jacob Homes Limited and Jacob Homes 2 Limited whom are owed £291,584, and £278,706 respectively. The director is satisfied that the shareholders are prepared to continue to support the development of the company for the next year. |
Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax. |
Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced on service contracts. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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. |
Jacob Homes 1 Limited (Registered number: 09892409) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 30 March 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 period 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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2023 |
Additions |
At 30 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for period |
At 30 March 2024 |
NET BOOK VALUE |
At 30 March 2024 |
At 31 March 2023 |
Jacob Homes 1 Limited (Registered number: 09892409) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 30 March 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
Transfer to ownership | - | (15,771 | ) | (15,771 | ) |
At 30 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for period |
Transfer to ownership | - | (11,092 | ) | (11,092 | ) |
At 30 March 2024 |
NET BOOK VALUE |
At 30 March 2024 |
At 31 March 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts |
Other creditors |
Jacob Homes 1 Limited (Registered number: 09892409) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 30 March 2024 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts | 15,754 | 23,808 |
A fixed charge over the freehold property known as 8 Birch Heath is held by SPF Bridging Ltd, this charge contain a negative pledge. |
Hire purchase liabilities are secured against assets to which they relate. |
9. | ULTIMATE CONTROLLING PARTY |
The ultimate parent undertaking and controlling party is Jacob Homes Ltd. The registered office for Jacob Homes Ltd is Ebenezer House, Ryecroft, Newcastle-Under-Lyme, Staffordshire, England, ST5 2BE. |