Independent Homes (North West) Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 04184292 (England and Wales)

Independent Homes (North West) Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

DS Wills

REGISTERED OFFICE:

28 Eaton Avenue

Matrix Office Park

Buckshaw Village

Chorley

Lancashire

PR7 7NA

REGISTERED NUMBER:

04184292 (England and Wales)

ACCOUNTANTS:

McMillan & Co LLP

Chartered Accountants

28 Eaton Avenue

Matrix Office Park

Buckshaw Village

Chorley

Lancashire

PR7 7NA

FIXED ASSETS

Tangible assets

4

21,879

24,511

Investments

5

1

Investment property

6

1,964,697

1,986,577

1,989,209

CURRENT ASSETS

Debtors

7

936,198

1,374,942

Cash at bank

51,463

138,151

987,661

1,513,093

CREDITORS

Amounts falling due within one year

8

90,755

543,973

NET CURRENT ASSETS

896,906

969,120

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,883,483

2,958,329

CREDITORS

Amounts falling due after more than one
year

9

1,226,092

1,226,061

NET ASSETS

1,657,391

1,732,268

CAPITAL AND RESERVES

Called up share capital

11

1,000

Retained earnings

1,656,391

1,731,268

SHAREHOLDERS' FUNDS

1,657,391

1,732,268

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 September 2025 and were signed by:

DS Wills - Director

1.	STATUTORY INFORMATION

Independent Homes (North West) Ltd 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 (£).

The amounts in the financial statements have been rounded to the nearest £1.

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.

Preparation of consolidated financial statements

The financial statements contain information about Independent Homes (North West) Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

10% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost, as such investments are not held for resale.

Investment property

In accordance with FRS102, certain of the company's properties are held for long-term investment and are included in the Balance Sheet at their open market values. The surplus or deficit on revaluation of such properties are transferred to a fair value reserve. Depreciation is not provided in respect of freehold investment properties. This policy represents a departure from the requirements of the Companies Act, which requires depreciation to be provided on all fixed assets. The directors consider that this policy is necessary in order that the Financial Statements may give a true and fair view because current values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation. Depreciation is only one of many factors reflected in the valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Financial instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, bank loans and group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2024

43,773

Additions

2,837

At 31 December 2024

46,610

DEPRECIATION

At 1 January 2024

19,262

Charge for year

5,469

At 31 December 2024

24,731

NET BOOK VALUE

At 31 December 2024

21,879

At 31 December 2023

24,511

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

1

NET BOOK VALUE

At 31 December 2024

1

At 31 December 2023

1

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

1,964,697

NET BOOK VALUE

At 31 December 2024

1,964,697

At 31 December 2023

1,964,697

7.

DEBTORS

2024

2023

£

Amounts falling due within one year:

Trade debtors

2,497

-

Other debtors

54,408

2,364

Other loans

-

82,388

56,905

84,752

Amounts falling due after more than one year:

Amounts owed by group undertakings

724,293

1,135,190

Other debtors

155,000

879,293

1,290,190

Aggregate amounts

936,198

1,374,942

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Taxation and social security

3,507

18,796

Other creditors

87,248

525,177

90,755

543,973

Included in other creditors is the director's loan account totalling £11,121 (2023: £463,514) It is unsecured and interest free.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Bank loans

1,226,091

1,226,060

Other creditors

1

1,226,092

1,226,061

The bank loan is secured on certain of the company's assets and interest is payable at normal commercial rates.

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Bank loans

1,226,091

1,226,060

The bank loans are secured on certain assets of the company.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

1,000

Ordinary

£1

1,000

12.	RELATED PARTY DISCLOSURES

The company is controlled by DS Wills.