ST. ARTHUR HOMES LIMITED

Company Registration Number:
05948739 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2024

Period of accounts

Start date: 1 January 2024

End date: 31 December 2024

ST. ARTHUR HOMES LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

ST. ARTHUR HOMES LIMITED

Directors' report period ended 31 December 2024

The directors present their report with the financial statements of the company for the period ended 31 December 2024

Principal activities of the company

The principal activity of the company during the year was property investment, specialising in shared ownership.



Directors

The directors shown below have held office during the whole of the period from
1 January 2024 to 31 December 2024

Constantine Ghioules
Graham Woolfman
Nick Bull
Greg Warner-Harris


The director shown below has held office during the period of
1 January 2024 to 9 April 2024

Richard Hunt


The director shown below has held office during the period of
1 January 2024 to 6 April 2024

Richard Cohen


The director shown below has held office during the period of
9 April 2024 to 31 December 2024

Rob McHugh


Secretary Altair Consultancy Services

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
3 April 2025

And signed on behalf of the board by:
Name: Altair Consultancy Services
Status: Secretary

ST. ARTHUR HOMES LIMITED

Profit And Loss Account

for the Period Ended 31 December 2024

2024 2023


£

£
Turnover: 16,383,397 17,654,567
Cost of sales: ( 11,584,961 ) ( 12,508,020 )
Gross profit(or loss): 4,798,436 5,146,547
Distribution costs: ( 8,948,970 ) ( 3,127,376 )
Administrative expenses: ( 2,736,930 ) ( 2,739,017 )
Other operating income: 32,052
Operating profit(or loss): (6,887,464) (687,794)
Interest receivable and similar income: 5,434 3,711
Interest payable and similar charges: ( 2,869,955 ) ( 1,737,514 )
Profit(or loss) before tax: (9,751,985) (2,421,597)
Profit(or loss) for the financial year: (9,751,985) (2,421,597)

ST. ARTHUR HOMES LIMITED

Balance sheet

As at 31 December 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 42,522,974 41,763,817
Total fixed assets: 42,522,974 41,763,817
Current assets
Stocks: 4 11,475,552 14,020,399
Debtors: 5 484,078 402,689
Cash at bank and in hand: 1,770,096 641,087
Total current assets: 13,729,726 15,064,175
Creditors: amounts falling due within one year: 6 ( 42,598,993 ) ( 2,444,879 )
Net current assets (liabilities): (28,869,267) 12,619,296
Total assets less current liabilities: 13,653,707 54,383,113
Creditors: amounts falling due after more than one year: 7 ( 17,895,845 ) ( 48,873,266 )
Total net assets (liabilities): (4,242,138) 5,509,847
Capital and reserves
Called up share capital: 1,874,474 1,874,474
Profit and loss account: (6,116,612 ) 3,635,373
Total Shareholders' funds: ( 4,242,138 ) 5,509,847

The notes form part of these financial statements

ST. ARTHUR HOMES LIMITED

Balance sheet statements

For the year ending 31 December 2024 the company was entitled to exemption 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.

This report was approved by the board of directors on 3 April 2025
and signed on behalf of the board by:

Name: Constantine Ghioules
Status: Director

The notes form part of these financial statements

ST. ARTHUR HOMES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Income is measured at the fair value of the consideration received or receivable. The company generates the following income streams: Rental income receivable (after deducting lost rent from void properties). First tranche sales of Low Cost Home Ownership housing properties. Grant funding receivable from Homes England on qualifying housing properties. Rental income is recognised from the point the property is available for letting as receivable, income from first tranche sales is recognised at the point of legal completion of the sale. Revenue grants are recognised within income in the same period as the related expenditure, provided that the conditions for its receipt have been satisfied and there is reasonable assurance that the grant will be received.

    Valuation information and policy

    Investment properties consist of the retained equity elements of shared ownership property, which are held for their rental income & capital appreciation. Investment properties are measured at cost on initial recognition and subsequently at fair value determined annually by the independent external valuer and derived from current market rents and investment property yields for comparable properties. No depreciation is provided. Changes in fair value are recognised in income or expenditure.

ST. ARTHUR HOMES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 10 18

ST. ARTHUR HOMES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2024 41,700,750 63,067 41,763,817
Additions 21,624,920 1,135 21,626,055
Disposals ( 11,509,626 ) ( 17,793 ) ( 11,527,419 )
Revaluations 9,339,479 9,339,479
Transfers
At 31 December 2024 42,476,565 46,409 42,522,974
Depreciation
At 1 January 2024
Charge for year
On disposals
Other adjustments
At 31 December 2024
Net book value
At 31 December 2024 42,476,565 46,409 42,522,974
At 31 December 2023 41,700,750 63,067 41,763,817

ST. ARTHUR HOMES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Stocks

2024 2023
£ £
Stocks 11,475,552 14,020,399
Total 11,475,552 14,020,399

ST. ARTHUR HOMES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

5. Debtors

2024 2023
£ £
Prepayments and accrued income 150,000
Other debtors 334,078 402,689
Total 484,078 402,689

ST. ARTHUR HOMES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 40,936,977 1,505,009
Trade creditors 1,118,091 597,224
Taxation and social security 88,904 98,203
Accruals and deferred income 5,345 155
Other creditors 449,676 244,288
Total 42,598,993 2,444,879

ST. ARTHUR HOMES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

7. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Bank loans and overdrafts 17,895,845 48,873,266
Total 17,895,845 48,873,266