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ATKINSON HOMES LIMITED

Registered Number
02381846
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

ATKINSON HOMES LIMITED
Company Information
for the year from 1 November 2023 to 31 October 2024

Directors

Mr B ATKINSON
Mr S ATKINSON
MR B M TURNER

Company Secretary

Mr S ATKINSON

Registered Address

1 Brancana Court
East Lakes Business Park
Penrith
CA11 9BB

Registered Number

02381846 (England and Wales)
ATKINSON HOMES LIMITED
Statement of Financial Position
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3101,870125,904
Investment property42,503,0003,363,000
2,604,8703,488,904
Current assets
Stocks58,925,0786,386,960
Debtors6924,093190,679
Cash at bank and on hand640,764747,051
10,489,9357,324,690
Creditors amounts falling due within one year7(4,616,783)(2,277,434)
Net current assets (liabilities)5,873,1525,047,256
Total assets less current liabilities8,478,0228,536,160
Creditors amounts falling due after one year8(1,273,338)(1,571,641)
Provisions for liabilities9(379,240)(3,229)
Net assets6,825,4446,961,290
Capital and reserves
Called up share capital113113
Revaluation reserve1,528,0781,833,438
Profit and loss account5,297,2535,127,739
Shareholders' funds6,825,4446,961,290
The financial statements were approved and authorised for issue by the Board of Directors on 11 June 2025, and are signed on its behalf by:
Mr S ATKINSON
Director
Registered Company No. 02381846
ATKINSON HOMES LIMITED
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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/or 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.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
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
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 November 23102,750141,335244,085
Additions-9,9249,924
At 31 October 24102,750151,259254,009
Depreciation and impairment
At 01 November 2392,40125,780118,181
Charge for year2,58731,37133,958
At 31 October 2494,98857,151152,139
Net book value
At 31 October 247,76294,108101,870
At 31 October 2310,349115,555125,904
4.Investment property

£
Fair value at 01 November 233,363,000
Disposals(860,000)
At 31 October 242,503,000
5.Stocks

2024

2023

££
Work in progress8,925,0786,386,960
Total8,925,0786,386,960
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables631,741-
Other debtors187,80219,398
Prepayments and accrued income104,550171,281
Total924,093190,679
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables8,53186,607
Bank borrowings and overdrafts615,720195,719
Taxation and social security127,322103,327
Other creditors357,473124,448
Accrued liabilities and deferred income3,507,7371,767,333
Total4,616,7832,277,434
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. Bank borrowings and overdrafts are secured on the assets of the company.
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts1,273,3381,571,641
Total1,273,3381,571,641
Bank borrowings and overdrafts are secured on the assets of the company.
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)379,2403,229
Total379,2403,229
10.Related party transactions
Atkinson Homes Limited and Atkinson Building Contractors Limited are under common control. The balances and transactions for the period have been summarised below. Purchases £4,271,997 Sales £155,227 Creditor balance £3,376,323 Amounts outstanding and owed to Atkinson Building Contractors Limited at the balance sheet date are interest free, unsecured and repayable on demand. At the year end, 3 shareholders were owed a total balance of £174,097 (2023 - £57,867) which is included in other creditors. Amounts are unsecured, interest free and repayable on demand. At the year end, the 2 directors were owed a total of £183,026 (2023 - £58,886) which is included in other creditors. Amounts are unsecured, interest free and repayable on demand.