REGISTERED NUMBER: |
Unaudited Financial Statements For The Year Ended 30th March 2024 |
for |
CW Homes Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements For The Year Ended 30th March 2024 |
for |
CW Homes Limited |
CW Homes Limited (Registered number: 08853279) |
Contents of the Financial Statements |
For The Year Ended 30th March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
CW Homes Limited |
Company Information |
For The Year Ended 30th March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1st Floor |
5 Century Court |
Tolpits Lane |
Watford |
Hertfordshire |
WD18 9PX |
CW Homes Limited (Registered number: 08853279) |
Balance Sheet |
30th March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Investments | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve |
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 |
CW Homes Limited (Registered number: 08853279) |
Notes to the Financial Statements |
For The Year Ended 30th March 2024 |
1. | STATUTORY INFORMATION |
CW Homes Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Plant and machinery | - |
Computer equipment | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
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 year 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 31st March 2023 |
and 30th March 2024 |
DEPRECIATION |
At 31st March 2023 |
Charge for year |
At 30th March 2024 |
NET BOOK VALUE |
At 30th March 2024 |
At 30th March 2023 |
CW Homes Limited (Registered number: 08853279) |
Notes to the Financial Statements - continued |
For The Year Ended 30th March 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 31st March 2023 |
Revaluations | (9,814 | ) |
At 30th March 2024 |
NET BOOK VALUE |
At 30th March 2024 |
At 30th March 2023 |
Fair value at 30th March 2024 is represented by: |
£ |
Valuation in 2019 | 385,901 |
Valuation in 2020 | 65,469 |
Valuation in 2022 | (13,359 | ) |
Valuation in 2023 | (35,032 | ) |
Valuation in 2024 | (9,814 | ) |
Cost | 1,593,835 |
1,987,000 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by associates |
TDS Deposit Receivable |
Other debtors | 42 | - |
Prepayments and accrued income |
Prepayments |
7. | CURRENT ASSET INVESTMENTS |
2024 | 2023 |
£ | £ |
Unlisted investments | 100 | 100 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Tenant Deposit | 9,219 | 9,219 |
Amounts owed to associates | 13,057 | - |
Directors' current accounts | 1,673 | 52 |
Accrued expenses |
CW Homes Limited (Registered number: 08853279) |
Notes to the Financial Statements - continued |
For The Year Ended 30th March 2024 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans - 2-5 years |
Bank loans more 5 yr by instal |
Other loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 1,262,552 | 1,261,015 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
Other loan |
The bank loans are secured by a fixed loan over the properties held by the company. The securities are on the respective properties on which the loan has been taken out with the lender. |
Within other loans, £140,000 of the balance is secured by a second charge over one of the investment properties held by the company. |
The Directors have given a personal guarantee in respect of the bank loans and other loans. |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 30th March 2024 and 30th March 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
12. | ULTIMATE CONTROLLING PARTY |
The company is ultimately controlled by the Directors by virtue of their joint 100% shareholding. |