Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312024-01-01falseDevelopment of building projects78truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04973610 2024-01-01 2024-12-31 04973610 2023-01-01 2023-12-31 04973610 2024-12-31 04973610 2023-12-31 04973610 c:Director4 2024-01-01 2024-12-31 04973610 d:MotorVehicles 2024-01-01 2024-12-31 04973610 d:MotorVehicles 2024-12-31 04973610 d:MotorVehicles 2023-12-31 04973610 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 04973610 d:FurnitureFittings 2024-01-01 2024-12-31 04973610 d:FurnitureFittings 2024-12-31 04973610 d:FurnitureFittings 2023-12-31 04973610 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 04973610 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 04973610 d:CurrentFinancialInstruments 2024-12-31 04973610 d:CurrentFinancialInstruments 2023-12-31 04973610 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 04973610 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04973610 d:ShareCapital 2024-12-31 04973610 d:ShareCapital 2023-12-31 04973610 d:RetainedEarningsAccumulatedLosses 2024-12-31 04973610 d:RetainedEarningsAccumulatedLosses 2023-12-31 04973610 c:FRS102 2024-01-01 2024-12-31 04973610 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 04973610 c:FullAccounts 2024-01-01 2024-12-31 04973610 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04973610 d:HirePurchaseContracts d:WithinOneYear 2024-12-31 04973610 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 04973610 2 2024-01-01 2024-12-31 04973610 6 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 04973610










HEYFORD HOMES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
HEYFORD HOMES LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 10


 
HEYFORD HOMES LIMITED
REGISTERED NUMBER: 04973610

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
19,895

Investments
 5 
1
101

  
1
19,996

Current assets
  

Debtors: amounts falling due within one year
 7 
1,047,414
175,973

Cash at bank and in hand
  
177,820
433,823

  
1,225,234
609,796

Creditors: amounts falling due within one year
 8 
(968,579)
(257,849)

Net current assets
  
 
 
256,655
 
 
351,947

Total assets less current liabilities
  
256,656
371,943

  

Net assets
  
256,656
371,943


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
256,556
371,843

  
256,656
371,943


Page 1

 
HEYFORD HOMES LIMITED
REGISTERED NUMBER: 04973610
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M J Tracey
Director

Date: 26 August 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
HEYFORD HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Heyford Homes Limited is a private company limited by shares and registered in England and Wales. Its registered number is 04973610. Its registered head office is located at Chantry House High Street, Coleshill, Birmingham, B46 3BP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention 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.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have considered the position of the business including its trading forecasts and projected future cashflows. Although the Company was loss making in 2024, the Company signed a new house building contract in May 2024. The directors also considered the strong net asset position of the Company at the year-end. On the basis of the above, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, including at least twelve months from the date of approval of the financial statements. 
For this reason, the directors consider that the adoption of the going concern basis in preparing the financial statements is appropriate.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue is recognised on construction contracts by reference to the services performed to date as a percentage of total services to be performed. Where the outcome of a contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the statement of financial position date. Profit is only recognised on a construction contract when the final outcome can be assessed with reasonable certainty. Expected losses are recognised immediately.

Revenue is recognised on house sales at legal completion.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
HEYFORD HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
50%
Fixtures and fittings
-
25%

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
HEYFORD HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.10

Pensions

Defined contribution pension plan

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 payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
HEYFORD HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
3
4



Other
4
4

7
8

Page 6

 
HEYFORD HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost


At 1 January 2024
41,392
62,481
103,873



At 31 December 2024

41,392
62,481
103,873



Depreciation


At 1 January 2024
22,420
61,558
83,978


Charge for the year
18,972
923
19,895



At 31 December 2024

41,392
62,481
103,873



Net book value



At 31 December 2024
-
-
-



At 31 December 2023
18,972
923
19,895


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 January 2024
101


Disposals
(100)



At 31 December 2024
1




Page 7

 
HEYFORD HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Stocks

2024
2023
£
£

Raw materials and consumables
-
38,105

Work in progress
-
(38,105)


There was no impairment loss recognised in respect of stock in either 2021 or 2020

Page 8

 
HEYFORD HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Debtors

2024
2023
£
£


Trade debtors
655,433
3,676

Amounts owed by group undertakings
286
10,921

Amounts owed by related parties
19,222
18,982

Other debtors
212,569
94,082

Prepayments and accrued income
155,364
48,262

Deferred taxation
4,540
50

1,047,414
175,973


Amounts owed by group undertakings and related parties are interest free, unsecured and repayable on demand.


8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
356,481
10,870

Amounts owed to group undertakings
7,281
21,638

Other taxation and social security
201,848
39,553

Obligations under finance lease and hire purchase contracts
-
14,768

Other creditors
80,365
54,057

Accruals and deferred income
322,604
116,963

968,579
257,849


Amounts owed to group undertakings are interest free, unsecured and repayable on demand.


9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
-
14,768

Page 9

 
HEYFORD HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Related party transactions


Amounts owed to related parties 2024
Amounts owed to related parties 2023
Amounts owed by related parties 2024
Amounts owed by related parties 2023
£
£
£
£

Cannock SP Limited
-
-
17,422
17,422
MP Suites LLP
-
-
1,800
1,560
Heyford Contracting Limited
7,281
10,038
-
-
Heyford Holdings Limited
-
2,079
286
-
Heyford Group Limited
-
9,521
-
-
7,281
21,638
19,508
18,982

M J Tracey is a director of Cannock SP Limited and a designated member of MP Suites LLP, and also a director of Heyford Holdings Limited, which is the ultimate controlling party of Heyford Homes Limited. 

Heyford Homes (Hankelow) LLP is an associate of the company. During the year, revenue has been recognised from a contract with Heyford Homes (Hankelow) LLP of £Nil (2023: £13,367). Heyford Homes (Hankelow) LLP was dissolved on 30 April 2024.


11.


Controlling party

The Company's ultimate parent company is Heyford Holdings Limited, a company incorporated and registered in England and Wales. Heyford Holdings Limited has no ultimate controlling party.

 
Page 10