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REGISTERED NUMBER: 07021398 (England and Wales)









Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Close Homes Limited

Close Homes Limited (Registered number: 07021398)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Close Homes Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mr M J Close
Mr A J Close





SECRETARY: Mrs K Close





REGISTERED OFFICE: Dovedale House
Hurricane Way
Wickford
Essex
SS11 8YB





REGISTERED NUMBER: 07021398 (England and Wales)






Close Homes Limited (Registered number: 07021398)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 13,111,579 12,341,579

CURRENT ASSETS
Debtors 5 104,521 7,081
Cash at bank 251,645 228,234
356,166 235,315
CREDITORS
Amounts falling due within one year 6 74,847 56,535
NET CURRENT ASSETS 281,319 178,780
TOTAL ASSETS LESS CURRENT LIABILITIES 13,392,898 12,520,359

CREDITORS
Amounts falling due after more than one year 7 (2,516,336 ) (1,853,940 )

PROVISIONS FOR LIABILITIES (1,250,228 ) (1,167,418 )
NET ASSETS 9,626,334 9,499,001

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 9,626,331 9,498,998
SHAREHOLDERS' FUNDS 9,626,334 9,499,001

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

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

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.

Close Homes Limited (Registered number: 07021398)

Balance Sheet - continued
30 April 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2025 and were signed on its behalf by:




Mr M J Close - Director



Mr A J Close - Director


Close Homes Limited (Registered number: 07021398)

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

1. STATUTORY INFORMATION

Close Homes 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.

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.

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 NIL (2023 - NIL).

Close Homes Limited (Registered number: 07021398)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 May 2023 12,335,635 7,430 12,343,065
Additions 439,947 - 439,947
Revaluations 331,242 - 331,242
At 30 April 2024 13,106,824 7,430 13,114,254
DEPRECIATION
At 1 May 2023 - 1,486 1,486
Charge for year - 1,189 1,189
At 30 April 2024 - 2,675 2,675
NET BOOK VALUE
At 30 April 2024 13,106,824 4,755 13,111,579
At 30 April 2023 12,335,635 5,944 12,341,579

Cost or valuation at 30 April 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2016 6,496,715 - 6,496,715
Valuation in 2017 1,431,628 - 1,431,628
Valuation in 2018 526,933 - 526,933
Valuation in 2019 1,104,600 - 1,104,600
Valuation in 2020 284,000 - 284,000
Valuation in 2021 551,497 - 551,497
Valuation in 2022 843,004 - 843,004
Valuation in 2023 1,097,258 - 1,097,258
Valuation in 2024 771,189 - 771,189
13,106,824 - 13,106,824

Close Homes Limited (Registered number: 07021398)

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

4. TANGIBLE FIXED ASSETS - continued

If the freehold properties had not been revalued they would have been included at the following historical cost:

30.4.24 30.4.23
£    £   
Cost 8,105,911 7,665,964

Value of land in freehold land and buildings 2,467,127 2,467,127

Freehold Properties were valued on an open market basis on 30 April 2024 by the directors. .

5. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Amounts owed by associates 7,331 7,081
Other debtors 97,190 -
104,521 7,081

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors - 1,485
Taxation and social security 36,296 53,150
Other creditors 38,551 1,900
74,847 56,535

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans 370,920 113,829
Other creditors 2,145,416 1,740,111
2,516,336 1,853,940

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 303,000 87,000

Close Homes Limited (Registered number: 07021398)

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

8. OTHER FINANCIAL COMMITMENTS

At the balance sheet date a balance was owed to Close Brothers Rail Limited, a company under common control, of £2,145,416. This is repayable on demand, but not expected to be recalled within the next 12 months and no interest was charged.