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REGISTERED NUMBER: 04522426 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Classic Homes (Staffs) Limited
T/A
Classic Refurb Limited

Classic Homes (Staffs) Limited (Registered number: 04522426)
T/A Classic Refurb Limited






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Classic Homes (Staffs) Limited
T/A Classic Refurb Limited

Company Information
for the Year Ended 30 September 2024







DIRECTOR: P Follows





REGISTERED OFFICE: 2 Pinewood Avenue
Cannock
Staffordshire
WS11 4AZ





REGISTERED NUMBER: 04522426 (England and Wales)





ACCOUNTANTS: Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD

Classic Homes (Staffs) Limited (Registered number: 04522426)
T/A Classic Refurb Limited

Balance Sheet
30 September 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,077 3,771
Investment property 5 376,000 690,000
379,077 693,771

CURRENT ASSETS
Debtors 6 422,130 240,795
Cash at bank 6,245 131,248
428,375 372,043
CREDITORS
Amounts falling due within one year 7 (80,729 ) (141,148 )
NET CURRENT ASSETS 347,646 230,895
TOTAL ASSETS LESS CURRENT
LIABILITIES

726,723

924,666

CREDITORS
Amounts falling due after more than one
year

8

(96,866

)

(209,280

)

PROVISIONS FOR LIABILITIES (42,956 ) (71,930 )
NET ASSETS 586,901 643,456

CAPITAL AND RESERVES
Called up share capital 10 4 4
Fair value reserve 11 136,980 215,792
Retained earnings 449,917 427,660
SHAREHOLDERS' FUNDS 586,901 643,456

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Classic Homes (Staffs) Limited (Registered number: 04522426)
T/A Classic Refurb Limited

Balance Sheet - continued
30 September 2024


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 director and authorised for issue on 3 April 2025 and were signed by:





P Follows - Director


Classic Homes (Staffs) Limited (Registered number: 04522426)
T/A Classic Refurb Limited

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Classic Homes (Staffs) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Classic Homes (Staffs) Limited (Registered number: 04522426)
T/A Classic Refurb Limited

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2023
and 30 September 2024 12,167 4,971 9,600 2,179 28,917
DEPRECIATION
At 1 October 2023 9,943 4,705 8,319 2,179 25,146
Charge for year 334 40 320 - 694
At 30 September 2024 10,277 4,745 8,639 2,179 25,840
NET BOOK VALUE
At 30 September 2024 1,890 226 961 - 3,077
At 30 September 2023 2,224 266 1,281 - 3,771

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 690,000
Disposals (314,000 )
At 30 September 2024 376,000
NET BOOK VALUE
At 30 September 2024 376,000
At 30 September 2023 690,000

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2023 287,722
Valuation in 2024 (107,786 )
Cost 196,064
376,000

Investment property was valued on an open market basis on 30 September 2024 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 67,660 55,795
Amounts owed by participating interests 354,470 185,000
422,130 240,795

Classic Homes (Staffs) Limited (Registered number: 04522426)
T/A Classic Refurb Limited

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 12,273 11,686
Trade creditors 24,082 22,154
Taxation and social security 41,879 39,595
Other creditors 2,495 67,713
80,729 141,148

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 96,866 209,280

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 81,182 183,123

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 109,139 220,966

All loans are secured on the value of the freehold properties held by the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
4 Ordinary £1 4 4

11. RESERVES
Fair
value
reserve
£   
At 1 October 2023 215,792
Transfer (78,812 )

At 30 September 2024 136,980

Classic Homes (Staffs) Limited (Registered number: 04522426)
T/A Classic Refurb Limited

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

12. RELATED PARTY DISCLOSURES

Y Move Properties Limited

A company in which Mr Follows is a director and shareholder


At the year ending 30 September 2024 there was a loan due from Y Move Properties Ltd of £354,470 (2023 - £185,000). This is an interest free loan and there are no fixed repayment terms in operation.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Classic Homes (Staffs) Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Classic Homes (Staffs) Limited for the year ended 30 September 2024 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Classic Homes (Staffs) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Classic Homes (Staffs) Limited and state those matters that we have agreed to state to the director of Classic Homes (Staffs) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Classic Homes (Staffs) Limited and its director for our work or for this report.

It is your duty to ensure that Classic Homes (Staffs) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Classic Homes (Staffs) Limited. You consider that Classic Homes (Staffs) 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 financial statements of Classic Homes (Staffs) 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 financial statements.






Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD


3 April 2025