Company registration number 07412469 (England and Wales)
CANHAM HOMES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
CANHAM HOMES LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
CANHAM HOMES LTD
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
23,780
-
0
Investments
5
234,344
234,344
258,124
234,344
Current assets
Stocks
14,172,896
5,459,546
Debtors
6
3,218,044
126,310
Cash at bank and in hand
1,624,186
697,460
19,015,126
6,283,316
Creditors: amounts falling due within one year
7
(10,627,728)
(941,052)
Net current assets
8,387,398
5,342,264
Total assets less current liabilities
8,645,522
5,576,608
Creditors: amounts falling due after more than one year
8
(6,523,646)
(3,707,767)
Net assets
2,121,876
1,868,841
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
2,121,776
1,868,741
Total equity
2,121,876
1,868,841

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

CANHAM HOMES LTD
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 25 April 2025 and are signed on its behalf by:
Mr M Canham
Director
Company Registration No. 07412469
CANHAM HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

Canham Homes Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Canham Business Centre, 426 Vale Road, Tonbridge, Kent, United Kingdom, TN9 1SW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention and are modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance. Construction is not carried out under contract and therefore there is no right to consideration until production is complete and a contract to purchase is in place.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
5 years
Computers
4 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

CANHAM HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

Stocks relate to the cost of land and associated costs in relation to its development. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Impairment is made of any non-recoverable costs, if appropriate.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

CANHAM HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
2
CANHAM HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023
-
0
Additions
23,780
At 30 April 2024
23,780
Depreciation and impairment
At 1 May 2023 and 30 April 2024
-
0
Carrying amount
At 30 April 2024
23,780
At 30 April 2023
-
0
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
234,344
234,344

Company name: Lynwood House Limited

Nature of business: Development of building properties

Registered office: Canham Business Centre, 426 Vale Road, Tonbridge, Kent, TN9 1SW

Shares held: 50 Ordinary 1 Shares, 50% of total shareholding.

6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
20,821
5,235
Other debtors
3,197,223
121,075
3,218,044
126,310
CANHAM HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
6,572,981
-
0
Trade creditors
552,208
812,267
Amounts owed to joint ventures
518,929
50,001
Corporation tax
98,500
51,534
Other taxation and social security
11,129
-
0
Other creditors
2,873,981
27,250
10,627,728
941,052

Bank loans comprises two loans, both repayable within 12 months. Loan one bears interest at 8.5% per annum and is secured by way of a fixed charge over the land at Egerton. Loan two bears interest at 10.75% per annum and is secured by way of a fixed charge over the land at Cranbrook.

8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,208,646
-
0
Other creditors
5,315,000
3,707,767
6,523,646
3,707,767

The bank loan is repayable in 24 months and interest is accrued at 9.75% per annum. The loan is secured by way of a fixed charge over the land at Frittenden.

 

9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
41,630
25,490
2024-04-302023-05-01falsefalsefalse25 April 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr M CanhamMrs S Budd074124692023-05-012024-04-30074124692024-04-30074124692023-04-3007412469core:OtherPropertyPlantEquipment2024-04-3007412469core:OtherPropertyPlantEquipment2023-04-3007412469core:CurrentFinancialInstrumentscore:WithinOneYear2024-04-3007412469core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-3007412469core:Non-currentFinancialInstrumentscore:AfterOneYear2024-04-3007412469core:Non-currentFinancialInstrumentscore:AfterOneYear2023-04-3007412469core:CurrentFinancialInstruments2024-04-3007412469core:CurrentFinancialInstruments2023-04-3007412469core:Non-currentFinancialInstruments2024-04-3007412469core:Non-currentFinancialInstruments2023-04-3007412469core:ShareCapital2024-04-3007412469core:ShareCapital2023-04-3007412469core:RetainedEarningsAccumulatedLosses2024-04-3007412469core:RetainedEarningsAccumulatedLosses2023-04-3007412469bus:Director12023-05-012024-04-3007412469core:FurnitureFittings2023-05-012024-04-3007412469core:ComputerEquipment2023-05-012024-04-30074124692022-05-012023-04-3007412469core:OtherPropertyPlantEquipment2023-04-3007412469core:OtherPropertyPlantEquipment2023-05-012024-04-3007412469core:WithinOneYear2024-04-3007412469core:WithinOneYear2023-04-3007412469bus:PrivateLimitedCompanyLtd2023-05-012024-04-3007412469bus:SmallCompaniesRegimeForAccounts2023-05-012024-04-3007412469bus:FRS1022023-05-012024-04-3007412469bus:AuditExemptWithAccountantsReport2023-05-012024-04-3007412469bus:Director22023-05-012024-04-3007412469bus:FullAccounts2023-05-012024-04-30xbrli:purexbrli:sharesiso4217:GBP