1 1 Horner Homes Ltd 06624317 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is that of property development and rental. This is unchanged since last year. Digita Accounts Production Advanced 6.30.9574.0 true 06624317 2023-07-01 2024-06-30 06624317 2024-06-30 06624317 bus:OrdinaryShareClass1 2024-06-30 06624317 core:RetainedEarningsAccumulatedLosses 2024-06-30 06624317 core:RevaluationReserve 2024-06-30 06624317 core:ShareCapital 2024-06-30 06624317 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 06624317 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 06624317 bus:SmallEntities 2023-07-01 2024-06-30 06624317 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 06624317 bus:FilletedAccounts 2023-07-01 2024-06-30 06624317 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 06624317 bus:RegisteredOffice 2023-07-01 2024-06-30 06624317 bus:Director1 2023-07-01 2024-06-30 06624317 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 06624317 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06624317 core:MotorVehicles 2023-07-01 2024-06-30 06624317 core:PlantMachinery 2023-07-01 2024-06-30 06624317 countries:England 2023-07-01 2024-06-30 06624317 2023-06-30 06624317 2022-07-01 2023-06-30 06624317 2023-06-30 06624317 bus:OrdinaryShareClass1 2023-06-30 06624317 core:RetainedEarningsAccumulatedLosses 2023-06-30 06624317 core:RevaluationReserve 2023-06-30 06624317 core:ShareCapital 2023-06-30 06624317 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 06624317 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 06624317

Horner Homes Ltd

Filleted Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Horner Homes Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Horner Homes Ltd

(Registration number: 06624317)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,500,000

1,500,000

Current assets

 

Cash at bank and in hand

 

13,590

3,114

Creditors: Amounts falling due within one year

5

(267,159)

(271,330)

Net current liabilities

 

(253,569)

(268,216)

Total assets less current liabilities

 

1,246,431

1,231,784

Creditors: Amounts falling due after more than one year

5

(5,000)

(10,000)

Provisions for liabilities

(258,897)

(258,897)

Net assets

 

982,534

962,887

Capital and reserves

 

Called up share capital

6

100

100

Revaluation reserve

824,300

824,300

Retained earnings

158,134

138,487

Shareholders' funds

 

982,534

962,887

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 March 2025
 


Mr D J Horner
Director

   
 

Horner Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
50 West End
Winteringham
Scunthorpe
North Lincolnshire
DN15 9NS

Registration number: 06624317

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration receivable for provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Horner Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance basis

Motor Vehicles

20% reducing balance basis

Investment property

Investment properties are held at fair value with the aggregate surplus or deficit shown in the profit and loss account. No depreciation is provided in respect of investment properties; this constitutes a departure from the statutory rules requiring fixed assets to be depreciated over their economic useful lives and is necessary to enable the accounts to give a true and fair view. Depreciation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers services provided in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Horner Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2023 - 1).

4

Investment properties

2024
£

At 1 July 2022

1,500,000

At 30 June 2023

1,500,000

There has been no valuation of investment property by an independent valuer.

The investment property was valued by the Director at 31 March 2023.

 

Horner Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

5,000

5,000

Amounts due to related parties

255,966

261,361

Social security and other taxes

 

4,843

3,679

Other payables

 

1,350

1,290

 

267,159

271,330

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

5,000

10,000

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100