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Registered number: 01966279
Castle Homes (Developments) Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Deans
Gibson House Hurricane Court
Hurricane Close
Stafford
ST16 1GZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01966279
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 27,877 20,116
27,877 20,116
CURRENT ASSETS
Stocks 5 - 333,255
Debtors 6 704,722 694,900
Cash at bank and in hand 247,051 80,153
951,773 1,108,308
Creditors: Amounts Falling Due Within One Year 7 (103,143 ) (165,772 )
NET CURRENT ASSETS (LIABILITIES) 848,630 942,536
TOTAL ASSETS LESS CURRENT LIABILITIES 876,507 962,652
Creditors: Amounts Falling Due After More Than One Year 8 - (54,172 )
NET ASSETS 876,507 908,480
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 876,407 908,380
SHAREHOLDERS' FUNDS 876,507 908,480
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr K D O'Donoghue
Director
3 June 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Castle Homes (Developments) Limited is a private company, limited by shares, registered in England & Wales.  The company's registered number and registered office address can be found on the Company Information page.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of section 1a "Small Entities" and the Companies Act 2006.  The financial statements have been prepared under the historical cost convention.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.
2.2. Turnover
The Policies adopted for the recognition of turnover are as follows:
Design and build projects
Turnover is recognised at the fair value of the consideration received or receivable for properties and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
Revenue from the sale of properties is recognised when the significant risks and rewards of ownership of the property have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction can be measured reliably.
Interest Receivable
Interest income is recognised using the effective interest method is recognised as the company's right to receive payment is established.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.  Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.
Plant & Machinery 20% RB
Motor Vehicles 25% RB
Fixtures & Fittings 20% RB
2.4. Leasing and Hire Purchase Contracts
Assets acquired under hire purchase contracts are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset.  The related obligations, net of future finance charges, are included in creditors.
Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
2.5. Stocks and Work in Progress
Work in progress is valued at the lower of cost and net realisable value.
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2.6. Taxation
Taxation for the year 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.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements.  Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
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.
2.7. Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.  Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2024 13,583 55,704 4,583 73,870
Additions 16,000 - 100 16,100
Disposals (6,884 ) - - (6,884 )
As at 31 December 2024 22,699 55,704 4,683 83,086
Depreciation
As at 1 January 2024 11,774 37,652 4,328 53,754
Provided during the period 3,515 4,513 71 8,099
Disposals (6,644 ) - - (6,644 )
As at 31 December 2024 8,645 42,165 4,399 55,209
Net Book Value
As at 31 December 2024 14,054 13,539 284 27,877
As at 1 January 2024 1,809 18,052 255 20,116
5. Stocks
2024 2023
£ £
Work in progress - 333,255
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6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 1,495 3,764
Other debtors 703,227 679,276
Corporation tax recoverable assets - 10,777
VAT - 1,083
704,722 694,900
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 374 490
Other loans 58,576 -
Corporation tax 7,805 -
VAT 1,844 -
Accruals and deferred income 6,090 10,711
Directors' loan accounts 28,454 154,571
103,143 165,772
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans - 54,172
9. Loans
An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due within one year or on demand:
Other loans 58,576 -
2024 2023
£ £
Amounts falling due between one and five years:
Other loans - 54,172
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
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