REGISTERED NUMBER: 11683933 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Chevin Homes (Derby) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J D Fearnehough

J D Cokayne

D P Stack

REGISTERED OFFICE:

44 Friar Gate

Derby

Derbyshire

DE1 1DA

REGISTERED NUMBER:

11683933 (England and Wales)

AUDITORS:

Bates Weston Audit Ltd

Statutory Auditors

Chartered Accountants

The Mills

Canal Street

Derby

DE1 2RJ

CURRENT ASSETS

Stocks

6,860,958

10,015,442

Debtors

4

492,816

640,856

Cash at bank and in hand

89,976

147,678

7,443,750

10,803,976

CREDITORS

Amounts falling due within one year

5

7,032,837

9,953,080

NET CURRENT ASSETS

410,913

850,896

TOTAL ASSETS LESS CURRENT LIABILITIES

410,913

850,896

CREDITORS

Amounts falling due after more than one year

6

7,904

18,215

NET ASSETS

403,009

832,681

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

402,909

832,581

403,009

832,681

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

J D Fearnehough - Director

1.	STATUTORY INFORMATION

Chevin Homes (Derby) 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.

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.

Turnover

Turnover represents the invoiced value of completed property sales, excluding value added tax. Turnover is recognised on the completion date of the property sale.

Stocks and work in progress

Stocks and work in progress are valued at the lower of cost and net realisable value. Cost represents the purchase price in addition to any legal fees and refurbishment costs. Net realisable value is based on the estimated selling price less further costs expected to be incurred in completion and disposal.

At each reporting date, stock and work in progress is assessed for expected losses. If a loss is expected then the loss is recognised in full immediately in the Profit and Loss Account.

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.

Related parties

The company is a majority owned subsidiary of Chevin Group Holdings Limited. The company has taken advantage of the exemption contained within the Financial Reporting Standard and has therefore not disclosed transactions with entities which form part of the group, other than as normally disclosed in the notes to the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

12,433

14,938

Amounts owed by group undertakings

455,314

453,348

Other debtors

25,069

172,570

492,816

640,856

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,311

10,056

Other loans

5,838,117

8,384,542

Trade creditors

99,950

532,794

Tax

-

131,049

Social security and other taxes

10,749

9,868

Other creditors

8,670

12,807

Accruals and deferred income

1,065,040

871,964

7,032,837

9,953,080

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

7,904

10,311

Bank loans - 2-5 years

-

7,904

7,904

18,215

7.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Other loans

5,838,117

8,384,542

Other loans are secured against the trading stock of the company.

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Wayne Thomas FCA (Senior Statutory Auditor)

for and on behalf of Bates Weston Audit Ltd

9.	RELATED PARTY DISCLOSURES

Chevin Homes (Derby) Limited was charged for management services provided by the directors through their separately owned related companies. During the year, the total charge was £168,280 (2023: £141,900), which was fully paid before the year end.

The directors have close relations who have other loans outstanding from the company totalling £190,500 (2023: £190,500). The lending is on a commercial basis and interest paid during the year totalled £19,050 (2023: £19,050).

10.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Chevin Group Holdings Limited, a company incorporated in England and Wales, which shares the registered office as detailed on page 1. Copies of the consolidated financial statements are available from Companies House.