Registration number: 06444180

Blue Cedar Homes Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Blue Cedar Homes Limited

Company Information

Directors

C D Fayers P J Goodes N I Hole J M Symons S Tofts

Registered office

Eagle House 1 Babbage Way Exeter Science Park Exeter Devon EX5 2FN

Accountants

Thompson Jenner LLP Chartered Accountants 1 Colleton Crescent Exeter Devon EX2 4DG

Blue Cedar Homes Limited

(Registration number: 06444180)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Current assets
Stocks	5	7,730,540	11,361,314
Debtors	6	535,264	313,480
Cash at bank and in hand		307,946	423,577
		8,573,750	12,098,371
Creditors: Amounts falling due within one year	7	(2,377,103)	(6,810,003)
Net assets		6,196,647	5,288,368
Capital and reserves
Called up share capital		2,500,000	2,500,000
Profit and loss account		3,696,647	2,788,368
Total equity		6,196,647	5,288,368

For the financial 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.

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 4 September 2025 and signed on its behalf by:
 

......................................... P J Goodes Director

Blue Cedar Homes Limited

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

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Eagle House
1 Babbage Way
Exeter Science Park
Exeter
Devon
EX5 2FN

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.

The financial statements are prepared in sterling, which is the functional currency of the company.

Going concern

The financial statements have been prepared on a going concern basis.

Blue Cedar Homes Limited

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

Key sources of estimation uncertainty

The preparation of the financial statements includes the use of estimates including assumptions which
are based on historical experience and other relevant factors and are reviewed on an ongoing basis.
Revisions to accounting estimates are recognised in the year in which the estimate is revised if the
revision affects only that year, or in the year of the revision and future years if the revision affects both
current and future years.

The key source of estimation and uncertainty with a significant risk of a material change to the
carrying value of assets and liabilities is construction cost.

The company regularly reviews the assumptions used in the calculation of construction and completion costs, including assessing the degree of future uncertainty from changes in macroeconomic factors.

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 and after eliminating sales within the company.

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 legal completion has taken place.

Tax

The tax expense for the period comprises current and deferred tax.

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

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position 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. No depreciation has been charged in the year as all assets have been fully depreciated. The rates previously applied, are as follows:

Asset class	Depreciation method and rate
Fixtures, fittings and equipment	10-33% straight line basis
Improvements to leasehold property	10% straight line basis

Blue Cedar Homes Limited

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

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 goods 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.

Stocks

Work in progress is measured at the lower of cost and net realisable value.

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.

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 4 (2023 - 6).

Blue Cedar Homes Limited

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

4	Tangible assets

	Furniture, fittings and equipment  £	Improvements to leasehold property  £	Total £
Cost or valuation
At 1 January 2024	57,635	6,825	64,460
At 31 December 2024	57,635	6,825	64,460
Depreciation
At 1 January 2024	57,635	6,825	64,460
At 31 December 2024	57,635	6,825	64,460
Carrying amount
At 31 December 2024	-	-	-

5

Stocks

	2024 £	2023 £
Work in progress	7,730,540	11,361,314

Blue Cedar Homes Limited

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

6

Debtors

	2024 £	2023 £
Trade debtors	178,115	121,724
Other debtors	328,723	154,398
Prepayments and accrued income	28,426	37,358
	535,264	313,480
Less non-current portion	(74,000)	(74,000)
Total current trade and other debtors	461,264	239,480

Details of non-current trade and other debtors

£74,000 (2023 - £74,000) of other debtors is classified as non current.

7

Creditors

		2024 £	2023 £
Due within one year
Loans and borrowings		1,767,491	5,164,694
Trade creditors		66,832	34,902
Taxation and social security		-	293,513
Other creditors		10,001	374,950
Accrued expenses		532,779	941,944
		2,377,103	6,810,003