Company Registration No. 06800183 (England and Wales)
Quality Yorkshire Homes Limited
Unaudited accounts
for the year ended 30 June 2024
Quality Yorkshire Homes Limited
Unaudited accounts
Contents
Quality Yorkshire Homes Limited
Company Information
for the year ended 30 June 2024
Directors
David Oldroyd
S Ayton
Company Number
06800183 (England and Wales)
Registered Office
Enclave Daw Lane
Horbury
Wakefield
West Yorkshire
WF4 5DR
England
Accountants
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
Quality Yorkshire Homes Limited
Accountants' report
Accountants' report to the board of directors of Quality Yorkshire Homes Limited on the preparation of the unaudited statutory accounts for the year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Quality Yorkshire Homes Limited for the year ended
30 June 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Quality Yorkshire Homes Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Quality Yorkshire Homes Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Quality Yorkshire Homes Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Quality Yorkshire Homes Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Quality Yorkshire Homes Limited. You consider that Quality Yorkshire Homes Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Quality Yorkshire Homes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
7 March 2025
Quality Yorkshire Homes Limited
Statement of financial position
as at 30 June 2024
Tangible assets
2,711
2,885
Investment property
1,956,884
1,662,675
Cash at bank and in hand
28,272
11,931
Creditors: amounts falling due within one year
(253,746)
(192,086)
Net current liabilities
(212,974)
(169,320)
Total assets less current liabilities
1,746,621
1,496,240
Creditors: amounts falling due after more than one year
(1,183,589)
(1,029,803)
Provisions for liabilities
Deferred tax
(143,372)
(120,559)
Net assets
419,660
345,878
Called up share capital
2
2
Revaluation reserve
430,116
380,413
Profit and loss account
(10,458)
(34,537)
Shareholders' funds
419,660
345,878
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 10 March 2025 and were signed on its behalf by
S Ayton
Director
Company Registration No. 06800183
Quality Yorkshire Homes Limited
Notes to the Accounts
for the year ended 30 June 2024
Quality Yorkshire Homes Limited is a private company, limited by shares, registered in England and Wales, registration number 06800183. The registered office is Enclave Daw Lane, Horbury, Wakefield, West Yorkshire, WF4 5DR, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% on cost
Motor vehicles
33% on cost
Fixtures & fittings
Between 10% and 33% on cost
Computer equipment
33% on cost
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. The properties were revalued by the Director at the year end. The gain on revaluation is unrealised and hence, not available for distribution.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Quality Yorkshire Homes Limited
Notes to the Accounts
for the year ended 30 June 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 July 2023
721
3,250
10,896
2,440
17,307
At 30 June 2024
721
3,250
10,896
3,264
18,131
At 1 July 2023
721
3,250
8,875
1,576
14,422
Charge for the year
-
-
577
421
998
At 30 June 2024
721
3,250
9,452
1,997
15,420
At 30 June 2024
-
-
1,444
1,267
2,711
At 30 June 2023
-
-
2,021
864
2,885
Fair value at 1 July 2023
1,662,675
Net gain from fair value adjustments
66,271
The investment properties were revalued by the Directors at the year end
Amounts falling due within one year
Other debtors
12,500
10,835
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
1,341
-
Other creditors
12,500
10,835
Loans from directors
239,129
180,475
Quality Yorkshire Homes Limited
Notes to the Accounts
for the year ended 30 June 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
1,060,589
996,689
Other creditors
123,000
33,114
Aggregate of amounts that fall due for payment after five years
1,060,589
996,689
Included in long term creditors are bank loans secured on investment properties. Personal guarantees have been provided.
9
Deferred taxation
2024
2023
Revaluation of investment property
143,372
126,804
Tax losses carried forward
-
(6,245)
Provision at start of year
120,559
-
Charged to the profit and loss account
22,813
120,559
Provision at end of year
143,372
120,559
Comparatives have been restated for deferred tax provision on revaluation of investment properties, and deferred tax asset on taxable losses
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).