1 January 2024 false No description of principal activity Taxfiler 2024.6 10536700business:PrivateLimitedCompanyLtd2024-01-012024-12-31 105367002023-12-31 105367002024-01-012024-12-31 10536700business:AuditExemptWithAccountantsReport2024-01-012024-12-31 10536700business:FilletedAccounts2024-01-012024-12-31 105367002024-12-31 10536700business:Director12024-01-012024-12-31 10536700business:Director22024-01-012024-12-31 10536700business:RegisteredOffice2024-01-012024-12-31 105367002023-12-31 10536700core:WithinOneYear2024-12-31 10536700core:WithinOneYear2023-12-31 10536700core:AfterOneYear2024-12-31 10536700core:AfterOneYear2023-12-31 10536700core:ShareCapitalcore:PreviouslyStatedAmount2024-12-31 10536700core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 10536700core:CapitalContributionReservecore:PreviouslyStatedAmount2024-12-31 10536700core:CapitalContributionReservecore:PreviouslyStatedAmount2023-12-31 10536700core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-12-31 10536700core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 10536700core:PreviouslyStatedAmount2024-12-31 10536700core:PreviouslyStatedAmount2023-12-31 10536700business:SmallEntities2024-01-012024-12-31 10536700countries:EnglandWales2024-01-012024-12-31 10536700core:PlantMachinery2024-01-012024-12-31 10536700core:MotorVehicles2024-01-012024-12-31 10536700core:ComputerEquipment2024-01-012024-12-31 10536700core:PlantMachinery2023-12-31 10536700core:MotorVehicles2023-12-31 10536700core:ComputerEquipment2023-12-31 10536700core:PlantMachinery2024-12-31 10536700core:MotorVehicles2024-12-31 10536700core:ComputerEquipment2024-12-31 10536700core:WithinOneYear2024-01-012024-12-31 10536700core:AfterOneYear2024-01-012024-12-31 10536700core:AcceleratedTaxDepreciationDeferredTax2024-12-31 10536700core:AcceleratedTaxDepreciationDeferredTax2023-12-31 105367002022-12-31 10536700core:OtherProvisionsContingentLiabilities2023-12-31 10536700core:OtherProvisionsContingentLiabilities2024-12-31 10536700business:OrdinaryShareClass12024-01-012024-12-31 10536700business:OrdinaryShareClass12023-01-012023-12-31 10536700business:Director112024-01-012024-12-31 10536700business:Director112024-12-31 10536700business:Director222024-01-012024-12-31 10536700business:Director222024-12-31 105367002023-01-012023-12-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 10536700 (England and Wales)
CASTLEGATE HOMES LINCOLN LIMITED Unaudited accounts for the year ended 31 December 2024
CASTLEGATE HOMES LINCOLN LIMITED Unaudited accounts Contents
Page
- 2 -
CASTLEGATE HOMES LINCOLN LIMITED Company Information for the year ended 31 December 2024
Directors
Robert Leonard John Goodridge Jason Robert Goddridge
Company Number
10536700 (England and Wales)
Registered Office
Willerby Lodge, Bransby Fields Sturton By Stow Lincoln United Kingdom LN1 2SA UNITED KINGDOM
Accountants
M D Darby FCPA, CPAA, FIAB, ACCA/Cert:IFR, IFRS, IPSAS, IA Templar Accounting & Business Support Services Limited (Incorp: Blake and Co ) 112 - 113 High Street, Lincoln, Lincolnshire LN5 7PY
- 3 -
CASTLEGATE HOMES LINCOLN LIMITED Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
39,828 
49,786 
Current assets
Inventories
1,468,466 
879,087 
Debtors
15,335 
22,053 
Cash at bank and in hand
33,640 
73,345 
1,517,441 
974,485 
Creditors: amounts falling due within one year
(823,389)
(244,391)
Net current assets
694,052 
730,094 
Total assets less current liabilities
733,880 
779,880 
Creditors: amounts falling due after more than one year
(12,500)
(22,500)
Provisions for liabilities
Deferred tax
(23,544)
(23,544)
Other provisions
(75,000)
(75,000)
(98,544)
(98,544)
Net assets
622,836 
658,836 
Capital and reserves
Called up share capital
100 
100 
Capital contribution reserve
500,000 
500,000 
Profit and loss account
122,736 
158,736 
Shareholders' funds
622,836 
658,836 
For the year ending 31 December 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 May 2025 and were signed on its behalf by
Robert Leonard John Goodridge Director Company Registration No. 10536700
- 4 -
CASTLEGATE HOMES LINCOLN LIMITED Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
CASTLEGATE HOMES LINCOLN LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10536700. The registered office is Willerby Lodge, Bransby Fields, Sturton By Stow, Lincoln, United Kingdom, LN1 2SA, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completed construction.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing balance
Motor vehicles
20% Reducing balance
Computer equipment
20% Reducing balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Hire Purchase & Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
- 5 -
CASTLEGATE HOMES LINCOLN LIMITED Notes to the Accounts for the year ended 31 December 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2024
72,292 
35,145 
5,792 
113,229 
At 31 December 2024
72,292 
35,145 
5,792 
113,229 
Depreciation
At 1 January 2024
47,526 
13,833 
2,084 
63,443 
Charge for the year
4,954 
4,262 
742 
9,958 
At 31 December 2024
52,480 
18,095 
2,826 
73,401 
Net book value
At 31 December 2024
19,812 
17,050 
2,966 
39,828 
At 31 December 2023
24,766 
21,312 
3,708 
49,786 
5
Inventories
2024 
2023 
£ 
£ 
Raw materials
7,916 
647 
Work in progress
1,460,550 
878,440 
1,468,466 
879,087 
Raw materials at cost as at December 31st 2023 held in inventory amounted to: £7,916 Land-bank south side of: Tillbridge Lane. Plot 1. WIP £706.032 Plot 2. WIP £554,518 Plot 3. £100,000 Plot 4. £100,000
- 6 -
CASTLEGATE HOMES LINCOLN LIMITED Notes to the Accounts for the year ended 31 December 2024
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
5,235 
11,953 
Other debtors
5,100 
100 
10,335 
12,053 
Amounts falling due after more than one year
Other debtors
5,000 
10,000 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
610,448 
63,216 
Trade creditors
51,011 
11,488 
Taxes and social security
844 
3,339 
Loans from directors
159,691 
165,153 
Accruals
1,395 
1,195 
823,389 
244,391 
An initial BBL is in place for £50,000 over a 5yr term with a fixed interest rate of 2.5% pa to date the current liability is £10,000 A Bank Loan is in place standing at £600,448 at the year end. Directors loan account balances stand at £159,691 The directors appreciated these monies are supporting the company and future withdrawal's would take place in line with positive cash flows.
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
12,500 
22,500 
A bounce back loan is in place with the high street bankers to the original value of: £50,000 Interest of 2.5% pa is accruing over 5 yr. term. to date £12,500 falling due after 12 months Yr 2. £10,000 Yr 3. ££2,250
- 7 -
CASTLEGATE HOMES LINCOLN LIMITED Notes to the Accounts for the year ended 31 December 2024
9
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
23,544 
23,544 
2024 
2023 
£ 
£ 
Provision at start of year
23,544 
23,544 
Provision at end of year
23,544 
23,544 
A cumulative deferred taxation reserve of some £23,544 is in place due to accelerated capital allowances. This reserve will reverse in future periods creating a tax liability at the prevailing rate on the day.
10
Provisions for liabilities
£ 
At 1 January 2024
75,000 
At 31 December 2024
75,000 
On purchase of the new site it has been agreed to create this provision due to drainage issues and provision of utility services. The utility services are now installed and the site drainage issue has been addressed. As at the period end date all four plots required the clear top soil to be replaced too 600mm below surface to be compliant. Therefore the remaining provision has been left in place to support this process of £75,000
11
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
12
Capital commitments
2024 
2023 
£ 
£ 
No further capital commitments at the date of these statements. were in place
13
Guarantees provided on behalf of directors
Maximum Liability Under Guarantees 
Amount paid and liability incurred 
£ 
£ 
Robert Leonard John Goodridge
Joint & Several Personal Guarantee
100,000 
- 
Jason Robert Goddridge
Joint & Several Personal Guarantee
100,000 
- 
200,000 
- 
There are two joint and several director's personal guarantee's in place supporting the company's loan facilities to the value of some £100,000 per director.
- 8 -
CASTLEGATE HOMES LINCOLN LIMITED Notes to the Accounts for the year ended 31 December 2024
14
Average number of employees
During the year the average number of employees was 3 (2023: 3).
- 9 -