COMPANY REGISTRATION NUMBER:
15182060
CARVALL HOMES OAKWOOD LTD |
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
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CARVALL HOMES OAKWOOD LTD |
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STATEMENT OF FINANCIAL POSITION |
|
31 October 2024
Current assets
Debtors |
4 |
1,882,646 |
|
Cash at bank and in hand |
162,913 |
|
|
------------- |
|
|
2,045,559 |
|
|
|
|
|
Creditors: amounts falling due within one year |
5 |
2,045,552 |
|
|
------------- |
|
Net current assets |
|
7 |
|
|
---- |
Total assets less current liabilities |
|
7 |
|
|
---- |
Net assets |
|
7 |
|
|
---- |
|
|
|
|
Capital and reserves
Called up share capital |
6 |
|
2 |
Profit and loss account |
|
5 |
|
|
---- |
Shareholders funds |
|
7 |
|
|
---- |
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|
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31st October 2024 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 financial statements for the period in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
1 July 2025
, and are signed on behalf of the board by:
Company registration number:
15182060
CARVALL HOMES OAKWOOD LTD |
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NOTES TO THE FINANCIAL STATEMENTS |
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PERIOD FROM 2nd OCTOBER 2023 TO 31st OCTOBER 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kirkstone, Hazel Way, Chipstead, Surrey, CR5 3PJ.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Construction contracts
Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end. Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred. The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4.
Debtors
|
31 Oct 24 |
|
£ |
Amounts owed by customers on construction contracts |
1,650,000 |
Amounts due from related parties |
230,000 |
Other debtors |
2,646 |
|
------------- |
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1,882,646 |
|
------------- |
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|
5.
Creditors:
amounts falling due within one year
|
31 Oct 24 |
|
£ |
Bank loans |
1,602,342 |
Trade creditors |
28,917 |
Corporation tax |
1 |
Other funding loans |
393,992 |
Other creditors |
20,300 |
|
------------- |
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2,045,552 |
|
------------- |
|
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6.
Called up share capital
Issued, called up and fully paid
|
31 Oct 24 |
|
No. |
£ |
Ordinary shares of £ 1 each |
2 |
2 |
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