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REGISTERED NUMBER: 09892409 (England and Wales)














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 25,289 33,469

CURRENT ASSETS
Stocks 1,827,352 1,705,909
Debtors 5 11,399 5,641
1,838,751 1,711,550
CREDITORS
Amounts falling due within one year 6 1,217,496 944,003
NET CURRENT ASSETS 621,255 767,547
TOTAL ASSETS LESS CURRENT LIABILITIES 646,544 801,016

CREDITORS
Amounts falling due after more than one year 7 902,415 880,660
NET LIABILITIES (255,871 ) (79,644 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (255,971 ) (79,744 )
SHAREHOLDERS' FUNDS (255,871 ) (79,644 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 March 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 February 2025 and were signed on its behalf by:




Mr K G Richardson - Director



Mrs E V Richardson - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09892409

Registered office: Ebenezer House
Ryecroft
Newcastle-under-Lyme
Staffordshire
ST5 2BE

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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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 3 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 62,728 1,024 15,771 79,523
Additions - 249 - 249
At 30 March 2024 62,728 1,273 15,771 79,772
DEPRECIATION
At 1 April 2023 36,265 256 9,533 46,054
Charge for period 6,616 254 1,559 8,429
At 30 March 2024 42,881 510 11,092 54,483
NET BOOK VALUE
At 30 March 2024 19,847 763 4,679 25,289
At 31 March 2023 26,463 768 6,238 33,469

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 41,200 15,771 56,971
Transfer to ownership - (15,771 ) (15,771 )
At 30 March 2024 41,200 - 41,200
DEPRECIATION
At 1 April 2023 23,819 9,533 33,352
Charge for period 4,345 1,559 5,904
Transfer to ownership - (11,092 ) (11,092 )
At 30 March 2024 28,164 - 28,164
NET BOOK VALUE
At 30 March 2024 13,036 - 13,036
At 31 March 2023 17,381 6,238 23,619

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 199
Other debtors 11,399 5,442
11,399 5,641

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 29,553 67,198
Hire purchase contracts 4,900 8,054
Trade creditors 25,241 19,174
Amounts owed to group undertakings 674,896 671,037
Taxation and social security 8,446 10,440
Other creditors 474,460 168,100
1,217,496 944,003

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 591,561 564,906
Hire purchase contracts 10,854 15,754
Other creditors 300,000 300,000
902,415 880,660

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 596,114 607,243
Hire purchase contracts 15,754 23,808
611,868 631,051

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.