Registered number
01833227
Cadeby Homes Limited
Filleted Accounts
30 September 2024
Cadeby Homes Limited
Registered number: 01833227
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 95,178 126,438
Current assets
Stocks 5,335,097 5,735,253
Debtors 4 63,553 1,424,025
Investments held as current assets 5 840,000 825,000
Cash at bank and in hand 556 1,162
6,239,206 7,985,440
Creditors: amounts falling due within one year 6 158,697 (3,055,475)
Net current assets 6,397,903 4,929,965
Total assets less current liabilities 6,493,081 5,056,403
Creditors: amounts falling due after more than one year 7 (4,880,447) (2,553,677)
Provisions for liabilities (17,019) (17,019)
Net assets 1,595,615 2,485,707
Capital and reserves
Called up share capital 2,000 2,000
Profit and loss account 1,593,615 2,483,707
Shareholders' funds 1,595,615 2,485,707
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr L P Massarella (Jnr)
Director
Approved by the board on 24 April 2025
Cadeby Homes Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% straight line
Plant and machinery 33% reducing balance
Fixtures, fittings, tools and equipment 15% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any forseeable losses where appropriate.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 12 10
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 141,845 114,647 256,492
Additions 5,400 - 5,400
At 30 September 2024 147,245 114,647 261,892
Depreciation
At 1 October 2023 79,122 50,932 130,054
Charge for the year 14,562 22,098 36,660
At 30 September 2024 93,684 73,030 166,714
Net book value
At 30 September 2024 53,561 41,617 95,178
At 30 September 2023 62,723 63,715 126,438
4 Debtors 2024 2023
£ £
Trade debtors - 51,992
Other debtors 63,553 1,372,033
63,553 1,424,025
5 Investments held as current assets 2024 2023
£ £
Fair value
Listed investments 840,000 825,000
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts (785,429) (747,653)
Obligations under finance lease and hire purchase contracts - (1,448)
Trade creditors 489,333 3,722,142
Taxation and social security costs (6,765) 30,634
Other creditors 144,164 51,800
(158,697) 3,055,475
The bank loans and overdraft are secured by mortgage charges over freehold property stock and land held for development. The bank loans carry interest at 2.5% over LIBOR.
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,304,000 -
Other creditors 2,576,447 2,553,677
4,880,447 2,553,677
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
L P Massarella (Snr)
Interest free loan 802,185 126,625 (81,855) 846,955
M A Massarella
Interest free loan 1,751,492 - (22,000) 1,729,492
2,553,677 126,625 (103,855) 2,576,447
9 Other information
Cadeby Homes Limited is a private company limited by shares and incorporated in England. Its registered office is:
LAM House
Grange Road
Hugglescote
Coalville
LE67 2BT
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