REGISTERED NUMBER: 03225737 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Courtfield Homes Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R K Paterson

C M Paterson

REGISTERED OFFICE:

Henleaze House

13 Harbury Road

Bristol

BS9 4PN

REGISTERED NUMBER:

03225737 (England and Wales)

ACCOUNTANTS:

Verinder Powell Associates Ltd

Suite 5 Corum 2

Corum Office Park

Crown Way

Warmley

Bristol

BS30 8FJ

FIXED ASSETS

Tangible assets

4

2,550

1,910

Investments

5

200

-

Investment property

6

3,260,000

2,803,526

3,262,750

2,805,436

CURRENT ASSETS

Debtors

7

48,041

85,770

Cash at bank

852,994

849,374

901,035

935,144

CREDITORS

Amounts falling due within one year

8

29,412

31,829

NET CURRENT ASSETS

871,623

903,315

TOTAL ASSETS LESS CURRENT LIABILITIES

4,134,373

3,708,751

CREDITORS

Amounts falling due after more than one year

9

(185,692

)

(214,330

)

PROVISIONS FOR LIABILITIES

(445,329

)

(314,730

)

NET ASSETS

3,503,352

3,179,691

CAPITAL AND RESERVES

Called up share capital

189

189

Retained earnings

3,503,163

3,179,502

3,503,352

3,179,691

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2025 and were signed on its behalf by:

R K Paterson - Director

1.	STATUTORY INFORMATION

Courtfield Homes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

There have been no material departures from the Financial Reporting Standard 102 1A.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Tangible fixed assets

Tangible fixed 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 is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

- 33% on reducing balance

Investments in associates

Investments in associate undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2024

6,741

Additions

1,452

At 31 March 2025

8,193

DEPRECIATION

At 1 April 2024

4,831

Charge for year

812

At 31 March 2025

5,643

NET BOOK VALUE

At 31 March 2025

2,550

At 31 March 2024

1,910

5.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

Additions

200

At 31 March 2025

200

NET BOOK VALUE

At 31 March 2025

200

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

2,803,526

Additions

18,090

Disposals

(19,000

)

Revaluations

497,384

Impairments

(40,000

)

At 31 March 2025

3,260,000

NET BOOK VALUE

At 31 March 2025

3,260,000

At 31 March 2024

2,803,526

The fair value of the investment properties has been arrived at by a valuation by the directors at their open market value at 31 March 2025 based on similar properties.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

1,215

645

Other debtors

46,826

85,125

48,041

85,770

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

7,954

8,460

Trade creditors

3,518

6,884

Taxation and social security

8,458

1,809

Other creditors

9,482

14,676

29,412

31,829

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

185,692

214,330

Included in bank loans in notes 8 and 9 is an amount of £10,000 (2024 - £18,666) which is unsecured and guaranteed by the government.

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

183,646

204,124

The bank loans are secured by:

- fixed and floating charges in respect of the company's investment properties in favour of Belmont Green Finance Limited t/a Vida Homeloans; and

- a negative pledge in favour of Belmont Green Finance Limited t/a Vida Homeloans.

11.	PENSION COMMITMENTS

Included in the balance sheet are pensions payable of £53 (2024 - £53). The company participates in a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

12.	RELATED PARTY DISCLOSURES

Loans from related parties

Key management

Total

2025

£

£

At start of period

6,251

6,251

Advanced

5,281

5,281

Repaid

(11,403

)

(11,403

)

At end of period

129

129

Key management

Total

2024

£

£

At start of period

4,958

4,958

Advanced

5,090

5,090

Repaid

(3,797

)

(3,797

)

At end of period

6,251

6,251

Loans from key management are interest free and repayable on demand.

Loans to related parties

Other related parties

Total

2025

£

£

At start of period

-

-

Advanced

41,408

41,408

Repaid

-

-

At end of period

41,408

41,408

Other related parties

Total

2024

£

£

At start of period

-

-

Advanced

-

-

Repaid

-

-

At end of period

-

-

Loans to other related parties are repayable on demand, and interest is charged at a rate of 5%.