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Registration number: 12982706

Coquet Valley Homes Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Coquet Valley Homes Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Coquet Valley Homes Ltd

Company Information

Directors

C. Aird

Mrs J. Aird

Registered office

2 East End Cottages
East Road
Longhorsley
Morpeth
Northumberland
NE65 8SY

 

Coquet Valley Homes Ltd

(Registration number: 12982706)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,958

4,437

Investment property

5

336,734

336,734

 

339,692

341,171

Current assets

 

Debtors

6

-

1,029

Cash at bank and in hand

 

22,307

17,141

 

22,307

18,170

Creditors: Amounts falling due within one year

7

(142,142)

(141,904)

Net current liabilities

 

(119,835)

(123,734)

Total assets less current liabilities

 

219,857

217,437

Creditors: Amounts falling due after more than one year

7

(229,372)

(229,372)

Net liabilities

 

(9,515)

(11,935)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(9,615)

(12,035)

Shareholders' deficit

 

(9,515)

(11,935)

For the financial year ending 31 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 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 21 July 2025 and signed on its behalf by:
 

.........................................
C. Aird
Director

 

Coquet Valley Homes Ltd

Notes to the Unaudited Financial Statements for the
Year Ended 31 October 2024

1

General information

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

The address of its registered office is:
2 East End Cottages
East Road
Longhorsley
Morpeth
Northumberland
NE65 8SY

These financial statements were authorised for issue by the Board on 21 July 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.

These financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.
The company meets its day to day working capital requirements through cash generated from operations and shareholder borrowings.
The company’s forecasts and projections for the next twelve months show that the company should be able to continue in operational existence for that period, taking into account reasonable possible changes in trading performance.
Based on the factors set out above the directors believe that it remains 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;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Coquet Valley Homes Ltd

Notes to the Unaudited Financial Statements for the
Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

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:

Asset class

Depreciation method and rate

Fixtures and Fittings

Straight line over 4 years

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Coquet Valley Homes Ltd

Notes to the Unaudited Financial Statements for the
Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 November 2023

5,916

5,916

At 31 October 2024

5,916

5,916

Depreciation

At 1 November 2023

1,479

1,479

Charge for the year

1,479

1,479

At 31 October 2024

2,958

2,958

Carrying amount

At 31 October 2024

2,958

2,958

At 31 October 2023

4,437

4,437

5

Investment properties

2024
£

At 1 November

336,734

At 31 October

336,734

There has been no valuation of investment property by an independent valuer.

 

Coquet Valley Homes Ltd

Notes to the Unaudited Financial Statements for the
Year Ended 31 October 2024 (continued)

6

Debtors

2024
£

2023
£

Prepayments

-

1,029

-

1,029

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Other creditors

142,142

141,904

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

229,372

229,372

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

229,372

229,372