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Registration number: 03668903

Patrick Family Homes Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Patrick Family Homes Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Patrick Family Homes Limited

Company Information

Directors

I K Patrick-Valentine

A J Patrick

D G Patrick

Registered office

4 The Axium Centre Dorchester Road
Lytchett Minster
Poole
Dorset
BH16 6FE

Accountants

Addicus Plus Limited
Chartered Certified Accountants4 The Axium Centre Dorchester Road
Lytchett Minster
Poole
Dorset
BH16 6FE

 

Patrick Family Homes Limited

(Registration number: 03668903)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

657,000

630,000

Current assets

 

Cash at bank and in hand

 

5,434

2,024

Creditors: Amounts falling due within one year

5

(1,205)

(1,221)

Net current assets

 

4,229

803

Total assets less current liabilities

 

661,229

630,803

Creditors: Amounts falling due after more than one year

5

(296,826)

(295,067)

Provisions for liabilities

(8,755)

(6,855)

Net assets

 

355,648

328,881

Capital and reserves

 

Called up share capital

20,000

20,000

Retained earnings

335,648

308,881

Shareholders' funds

 

355,648

328,881

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Patrick Family Homes Limited

(Registration number: 03668903)
Balance Sheet as at 31 March 2025

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 April 2025 and signed on its behalf by:
 

I K Patrick-Valentine
Director

   
     
 

Patrick Family Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
4 The Axium Centre Dorchester Road
Lytchett Minster
Poole
Dorset
BH16 6FE
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Patrick Family Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2024 - 1).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 April 2024

630,000

630,000

Revaluations

27,000

27,000

At 31 March 2025

657,000

657,000

Depreciation

Carrying amount

At 31 March 2025

657,000

657,000

At 31 March 2024

630,000

630,000

 

Patrick Family Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Included within the net book value of land and buildings above is £657,000 (2024 - £630,000) in respect of freehold land and buildings.
 

Revaluation

The fair value of the company's Freehold property was revalued on 31 March 2025. An independent valuer was not involved.
Investment properties were valued on an open market basis on 31st March 2025 by the directors.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £431,000 (2024 - £431,000).

5

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Taxation and social security

365

381

Accruals and deferred income

840

840

1,205

1,221

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

6

296,826

295,067

6

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Other borrowings

296,826

295,067

 

Patrick Family Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2025
£

2024
£

Remuneration

3,000

3,000