Company Registration No. 04323287 (England and Wales)
Fdc Homes Limited
Unaudited accounts
for the year ended 30 April 2024
Fdc Homes Limited
Unaudited accounts
Contents
Fdc Homes Limited
Company Information
for the year ended 30 April 2024
Directors
D R Kingston
R Wilson
R L Limmer
E J K Thackray
Company Number
04323287 (England and Wales)
Registered Office
42 Ethelburga Drive
Lyminge
Folkestone
CT18 8JJ
England
Accountants
NATALIE FIELD ACCOUNTANCY LTD
Fdc Homes Limited
Statement of financial position
as at 30 April 2024
Tangible assets
35,334
43,097
Investment property
1,101,307
1,101,307
Inventories
1,336,712
1,304,131
Cash at bank and in hand
123,563
269,367
Creditors: amounts falling due within one year
(1,229,519)
(1,201,679)
Net current assets
727,424
879,068
Total assets less current liabilities
1,864,069
2,023,476
Provisions for liabilities
Deferred tax
(33,274)
(33,274)
Net assets
1,830,795
1,990,202
Called up share capital
50,000
50,000
Profit and loss account
1,780,795
1,940,202
Shareholders' funds
1,830,795
1,990,202
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 April 2025 and were signed on its behalf by
R L Limmer
Director
Company Registration No. 04323287
Fdc Homes Limited
Notes to the Accounts
for the year ended 30 April 2024
Fdc Homes Limited is a private company, limited by shares, registered in England and Wales, registration number 04323287. The registered office is 42 Ethelburga Drive, Lyminge, Folkestone, CT18 8JJ, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
5% straight line
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
15% reducing balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Fdc Homes Limited
Notes to the Accounts
for the year ended 30 April 2024
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
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Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 May 2023
22,285
57,955
80,240
At 30 April 2024
22,285
58,781
81,066
At 1 May 2023
2,321
34,822
37,143
Charge for the year
4,991
3,598
8,589
At 30 April 2024
7,312
38,420
45,732
At 30 April 2024
14,973
20,361
35,334
At 30 April 2023
19,964
23,133
43,097
Fair value at 1 May 2023
1,101,307
At 30 April 2024
1,101,307
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Investments
Subsidiary undertakings
Valuation at 30 April 2024
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Fdc Homes Limited
Notes to the Accounts
for the year ended 30 April 2024
Amounts falling due within one year
Amounts due from group undertakings etc.
468,534
498,136
Other debtors
22,997
5,113
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Creditors: amounts falling due within one year
2024
2023
Amounts owed to group undertakings and other participating interests
1,022,205
1,001,071
Taxes and social security
2,381
2,741
Other creditors
188,399
184,436
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Transactions with related parties
During the year the company provided administration services to Mereyton Homes Limited, in the sum of £Nil (2023: £15,000). At 30 April 2024 the amount due to Mereyton Homes Limited was £1,022,205 (2023: £1,001,071).
Mereyton Homes Limited provided property development services to the company totalling £Nil (2023: £0) during the year.
Included within other debtors is a balance of £468,534 (2023: £498,135) due from Escape Holiday Ventures Limited, a wholly owned subsidiary of the company.
At the balance sheet date the company owed the directors £182,445 (2023: £184,189). Interest on these balances are paid to the directors at a rate of 5.25%. All directors’ remuneration paid by the company was done so under normal market conditions.
The ultimate controlling party of the company is the Kingston family, who hold 100% of the issued share capital of the parent company collectively, although no individual member of the family has ultimate control.
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Average number of employees
During the year the average number of employees was 4 (2023: 4).