1 August 2023 v2025.21.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activity00falsetruexbrli:purexbrli:sharesiso4217:GBP135354642023-08-012024-07-31135354642024-07-31135354642023-07-3113535464core:WithinOneYear2024-07-3113535464core:WithinOneYear2023-07-3113535464core:AfterOneYear2024-07-3113535464core:AfterOneYear2023-07-3113535464core:RetainedEarningsAccumulatedLosses2024-07-3113535464core:RetainedEarningsAccumulatedLosses2023-07-3113535464bus:Director12023-08-012024-07-3113535464bus:RegisteredOffice2023-08-012024-07-311353546412023-08-012024-07-31135354642022-08-012023-07-3113535464countries:EnglandWales2023-08-012024-07-3113535464bus:AuditExemptWithAccountantsReport2023-08-012024-07-3113535464bus:PrivateLimitedCompanyLtd2023-08-012024-07-3113535464bus:SmallEntities2023-08-012024-07-3113535464bus:AbridgedAccounts2023-08-012024-07-31
Company registration number:
13535464
Blue Owl Homes Limited
Unaudited Filleted Abridged Financial Statements for the year ended
31 July 2024
James W A Cruickshank & Co
Inglewood, Wreay Syke, Wreay, CA4 0RL, United Kingdom
Blue Owl Homes Limited
Abridged Statement of Financial Position
31 July 2024
20242023
££
Current assets    
Stocks
1,011,275
 
2,018,737
 
Debtors
5,082
 
9,402
 
Cash at bank and in hand
435
 
641
 
1,016,792
 
2,028,780
 
Creditors: amounts falling due within one year
(702,697
)
(859,492
)
Net current assets
314,095
 
1,169,288
 
Total assets less current liabilities 314,095   1,169,288  
Creditors: amounts falling due after more than one year
(411,758
)
(1,251,624
)
Provisions for liabilities
(204,241
)
(204,241
)
Net liabilities
(301,904
)
(286,577
)
Capital and reserves    
Profit and loss account
(301,904
)
(286,577
)
Shareholders deficit
(301,904
)
(286,577
)
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 members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements.
All of the members have consented to the preparation of the abridged statement of financial position for the year ended
31 July 2024
in accordance with Section 444(2A) of the Companies Act 2006.
These
abridged 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.
These
abridged financial statements
were approved by the board of directors and authorised for issue on
28 April 2025
, and are signed on behalf of the board by:
Miss S Rainsbury
Director
Company registration number:
13535464
Blue Owl Homes Limited
Notes to the Abridged Financial Statements
Year ended
31 July 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
43 Mulberry Way
,
Chineham
,
Basingstoke
,
RG24 8TZ
, England.

2 Statement of compliance

These
abridged financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
abridged financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
abridged financial statements
are prepared in sterling, which is the functional currency of the company.

Stocks

Work in progress is valued at the lower of cost and net realisable value. Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Operating leases

A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Taxation

Taxation for the period 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

4 Average number of employees

The average number of persons employed by the company during the year was Nil (2023: Nil).