0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-08-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP SC474601 2023-08-01 2024-07-31 SC474601 2024-07-31 SC474601 2023-07-31 SC474601 2022-08-01 2023-07-31 SC474601 2023-07-31 SC474601 2022-07-31 SC474601 bus:LeadAgentIfApplicable 2023-08-01 2024-07-31 SC474601 bus:Director2 2023-08-01 2024-07-31 SC474601 core:WithinOneYear 2024-07-31 SC474601 core:WithinOneYear 2023-07-31 SC474601 core:AfterOneYear 2024-07-31 SC474601 core:AfterOneYear 2023-07-31 SC474601 core:ShareCapital 2024-07-31 SC474601 core:ShareCapital 2023-07-31 SC474601 core:RetainedEarningsAccumulatedLosses 2024-07-31 SC474601 core:RetainedEarningsAccumulatedLosses 2023-07-31 SC474601 bus:Director1 2023-08-01 2024-07-31 SC474601 bus:SmallEntities 2023-08-01 2024-07-31 SC474601 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 SC474601 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 SC474601 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 SC474601 bus:FullAccounts 2023-08-01 2024-07-31 SC474601 core:AllAssociates 2023-08-01 2024-07-31
COMPANY REGISTRATION NUMBER: SC474601
West of Scotland New Homes Limited (formerly Modern Housing New Homes Contracts Limited)
Filleted Unaudited Financial Statements
31 July 2024
West of Scotland New Homes Limited (formerly Modern Housing New Homes Contracts Limited)
Financial Statements
Year ended 31 July 2024
Contents
Page
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
3
West of Scotland New Homes Limited (formerly Modern Housing New Homes Contracts Limited)
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of West of Scotland New Homes Limited (formerly Modern Housing New Homes Contracts Limited)
Year ended 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of West of Scotland New Homes Limited (formerly Modern Housing New Homes Contracts Limited) for the year ended 31 July 2024, which comprise the statement of financial position 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the director of West of Scotland New Homes Limited (formerly Modern Housing New Homes Contracts Limited). Our work has been undertaken solely to prepare for your approval the financial statements of West of Scotland New Homes Limited (formerly Modern Housing New Homes Contracts Limited) and state those matters that we have agreed to state to you in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than West of Scotland New Homes Limited (formerly Modern Housing New Homes Contracts Limited) and its director for our work or for this report.
It is your duty to ensure that West of Scotland New Homes Limited (formerly Modern Housing New Homes Contracts 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 West of Scotland New Homes Limited (formerly Modern Housing New Homes Contracts Limited). You consider that West of Scotland New Homes Limited (formerly Modern Housing New Homes Contracts 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 West of Scotland New Homes Limited (formerly Modern Housing New Homes Contracts 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.
GILLILAND & COMPANY Chartered Accountants
216 West George Street Glasgow G2 2PQ
20 January 2025
West of Scotland New Homes Limited (formerly Modern Housing New Homes Contracts Limited)
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
£
Current assets
Debtors
4
820,919
824,327
Cash at bank and in hand
1,842
3,618
---------
---------
822,761
827,945
Creditors: amounts falling due within one year
5
86,983
83,436
---------
---------
Net current assets
735,778
744,509
---------
---------
Total assets less current liabilities
735,778
744,509
Creditors: amounts falling due after more than one year
6
26,852
32,408
---------
---------
Net assets
708,926
712,101
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
708,826
712,001
---------
---------
Shareholder funds
708,926
712,101
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 20 January 2025 , and are signed on behalf of the board by:
Mrs D Smith
Director
Company registration number: SC474601
West of Scotland New Homes Limited (formerly Modern Housing New Homes Contracts Limited)
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 216 West George Street, Glasgow, G2 2PQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change of value.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
4. Debtors
2024
2023
£
£
Trade debtors
24,000
Amounts owed by group undertakings and undertakings in which the company has a participating interest
820,669
728,569
Other debtors
250
71,758
---------
---------
820,919
824,327
---------
---------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
5,556
5,556
Trade creditors
2,098
Corporation tax
79,927
74,282
Other creditors
1,500
1,500
--------
--------
86,983
83,436
--------
--------
6. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
26,852
32,408
--------
--------
7. Related party transactions
£339,241 (2023: £339,241) was owed from Modern Housing Limited, parent, as at 31st July 2024. The balance owed to the company from Modern Housing New Homes Limited amounted to £461,160 (2023: £374,060) as at 31st July 2024. £15,268 (2023: £15,268) was owed from Lapday Limited. Modern Housing New Homes Limited and Lapday Limited are fellow subsidiaries of Modern Housing Limited.
8. Controlling party
The company was under the control of Mr & Mrs Smith throughout the current period. Mr & Mrs Smith own the entire share capital of Modern Housing Limited. Modern Housing Limited own the entire share capital of Modern Housing New Homes Contracts Limited.