ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Registered number: 11479773

LEGACY HOMES (NO 2) LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

LEGACY HOMES (NO 2) LIMITED

REGISTERED NUMBER: 11479773

STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		-		604,417
			-		604,417
Current assets
Cash at bank and in hand	5	21		1,713
		21		1,713
Creditors: amounts falling due within one year	6	(17,459)		(219,507)
Net current liabilities			(17,438)		(217,794)
Total assets less current liabilities			(17,438)		386,623
Creditors: amounts falling due after more than one year	7		-		(490,854)

Net liabilities			(17,438)		(104,231)

Capital and reserves
Called up share capital	9	1	1
Profit and loss account		(17,439)	(104,232)
		(17,438)	(104,231)

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LEGACY HOMES (NO 2) LIMITED

REGISTERED NUMBER: 11479773

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 30 SEPTEMBER 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 on 22 September 2025.

D R Wicks

Director

The notes on pages 3 to 7 form part of these financial statements.

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LEGACY HOMES (NO 2) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.	General information

Legacy Homes (No 2) Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 3 Brook Business Centre, Cowley Mill Road, Cowely, Uxbridge, England, UB8 2FX.
The company specialises in the letting and operating of own or leased real estate

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

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.

2.4

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

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LEGACY HOMES (NO 2) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

2.5

Taxation

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 reporting date in the countries where the Company operates and generates income.

2.6

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.

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:

Long-term leasehold property

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 the Statement of comprehensive income.

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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.

Employees

The average monthly number of employees, including directors, during the year was 2 (period ended 30 September 2023 - 1).

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LEGACY HOMES (NO 2) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.	Tangible fixed assets

		Long-term leasehold property
		£
	Cost
	At 1 October 2023	658,145
	Disposals	(658,145)
	At 30 September 2024	-
	Depreciation
	At 1 October 2023	53,728
	Disposals	(53,728)
	At 30 September 2024	-
	Net book value
	At 30 September 2024	-
	At 30 September 2023	604,417

5.	Cash and cash equivalents
		2024	2023
		£	£

Cash at bank and in hand	21	1,713
	21	1,713

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LEGACY HOMES (NO 2) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Bank loans	-	20,453
Trade creditors	-	1,338
Amounts owed to group undertakings	5,059	151,746
Corporation tax	-	233
Other creditors	10,000	44,399
Accruals and deferred income	2,400	1,338
	17,459	219,507

7.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

Bank loans	-	490,854
	-	490,854

Amounts falling due within one year
Bank loans	-	20,453

Amounts falling due 2-5 years
Bank loans	-	490,854

	-	511,307

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LEGACY HOMES (NO 2) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

1 Ordinary share of £1	1	1

10.	Related party transactions
	The Company has taken advantage of the exemptions available under FRS 102 not to disclose transaction between entities that are part of a wholly owned group. Included within other creditors is an amount of £Nil (2023 - £44,399) due to the director of the company.

11.	Ultimate parent undertaking and controlling party

The immediate and ultimate parent undertaking is Legacy Homes Limited, a company incorporated in England and Wales.
The ultimate controlling party is Mr D R Wicks, a director, by virtue of his 100% shareholding in the ultimate parent undertaking.

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