Company registration number 13892202 (England and Wales)
LATIMER HOMES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
LATIMER HOMES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
LATIMER HOMES LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 1 -
30 September 2024
30 November 2023
Notes
£
£
£
£
Current assets
Stocks
3,416,245
2,515,143
Debtors
3
2,479,235
1,388,446
Cash at bank and in hand
100
100
5,895,580
3,903,689
Creditors: amounts falling due within one year
Other creditors
505,055
1,642,257
Net current assets
5,390,525
2,261,432
Creditors: amounts falling due after more than one year
4
(5,395,301)
(2,264,594)
Net liabilities
(4,776)
(3,162)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(4,876)
(3,262)
Total equity
(4,776)
(3,162)
For the financial period ended 30 September 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 of its financial statements for the period in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 23 June 2025
Mr N J Jarvis
Director
Company registration number 13892202 (England and Wales)
LATIMER HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information
Latimer Homes Limited is a private company limited by shares incorporated in England and Wales. The registered office is Como House, Warwick Road, Kingston Upon Thames, United Kingdom, KT1 4DW.
1.1
Reporting period
The financial statements are prepared for the 10 month period from 1 December 2023 to 30 September 2024. This shorter reporting period is due to a change in the company's accounting reference date. Consequently, the comparative figures presented for the year ended 30 November 2023 are not directly comparable to the current period.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
2023
Number
Number
Total
1
1
LATIMER HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
- 3 -
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
2,479,235
1,388,446
4
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
3,129,309
Amounts owed to group undertakings
2,265,992
2,264,594
5,395,301
2,264,594
5
Related Party Disclosures
'Other debtors' includes the sum of £2,479,235 (2023: £1,388,446) owed by Glenwood Homes Ltd of which N Jarvis is a director.
'Other creditors' includes the sum of £14,161 (2023: £1,579) owed to Diadem Homes Ltd of which N Jarvis is a director.
6
Ultimate controlling party
The controlling party is Glenwood Homes (UPR) Limited.
The ultimate controlling party is N J Jarvis.