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Registration number: 09970193

Finewood Homes Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2025

 

Finewood Homes Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Finewood Homes Limited

Company Information

Directors

Mr G Thompson

Mrs J Thompson

Registered office

4 Burywick
Harpenden
Herts
AL5 2AE

Accountants

Sterling Grove Accountants Limited
Chartered Certified AccountantsFawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

 

Finewood Homes Limited

(Registration number: 09970193)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

13,382

16,793

Current assets

 

Stocks

5

5,449,237

6,206,679

Debtors

6

29,533

1,769

Cash at bank and in hand

 

1,277,180

228,035

 

6,755,950

6,436,483

Creditors: Amounts falling due within one year

7

(6,967,568)

(6,488,897)

Net current liabilities

 

(211,618)

(52,414)

Net liabilities

 

(198,236)

(35,621)

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

(199,236)

(36,621)

Shareholders' deficit

 

(198,236)

(35,621)

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

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 13 May 2025 and signed on its behalf by:
 

.........................................
Mr G Thompson
Director

 

Finewood Homes Limited

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

1

General information

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

The address of its registered office is:
4 Burywick
Harpenden
Herts
AL5 2AE
England

These financial statements were authorised for issue by the Board on 13 May 2025.

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.

Going concern

The director of the company has undertaken to provide financial support for a period of at least 12 months from the date of approval of these financial statements and as a result consider it appropriate to prepare the financial statements on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts the company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity;

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Finewood Homes Limited

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

Asset class

Depreciation method and rate

Office equipment

Straight line 25%

Motor vehicles

Reducing balance 25%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stock represents development properties and are stated at the lower of cost and net realisable value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

 

Finewood Homes Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2024

368

24,640

25,008

Additions

856

-

856

At 31 January 2025

1,224

24,640

25,864

Depreciation

At 1 February 2024

130

8,085

8,215

Charge for the year

128

4,139

4,267

At 31 January 2025

258

12,224

12,482

Carrying amount

At 31 January 2025

966

12,416

13,382

At 31 January 2024

238

16,555

16,793

5

Stocks

2025
£

2024
£

Properties completed or under construction

5,449,237

6,206,679

6

Debtors

2025
£

2024
£

Prepayments

1,453

1,352

Other debtors

28,080

417

29,533

1,769

 

Finewood Homes Limited

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

7

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

14,885

1,393

Taxation and social security

1,459

35,551

Accruals and deferred income

2,035

2,010

Other creditors

6,949,189

6,449,943

6,967,568

6,488,897