Flaunden Construction Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10502175

Flaunden Construction Limited

Filleted Unaudited Financial Statements

30 November 2024

Flaunden Construction Limited

Financial Statements

Year ended 30 November 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Flaunden Construction Limited

Statement of Financial Position

30 November 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	4		5,246	8,111

Current assets

Stocks		4,864,604	4,376,326
Debtors	5	37	5,075
Cash at bank and in hand		11	6,503
		-----------	-----------
		4,864,652	4,387,904

Creditors: amounts falling due within one year	6	4,069,617		3,567,003
		-----------		-----------
Net current assets			795,035	820,901
			--------	--------
Total assets less current liabilities			800,281	829,012

Creditors: amounts falling due after more than one year	7		1,234,160	1,244,271

Provisions

Taxation including deferred tax	( 101,988)	( 98,968)
	-----------	-----------
Net liabilities	( 331,891)	( 316,291)
	-----------	-----------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 331,991)	( 316,391)
	--------	--------
Shareholders deficit	( 331,891)	( 316,291)
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 November 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Flaunden Construction Limited

Statement of Financial Position (continued)

30 November 2024

These financial statements were approved by the board of directors and authorised for issue on 29 September 2025 , and are signed on behalf of the board by:

Mrs C Jackson

Director

Company registration number: 10502175

Flaunden Construction Limited

Notes to the Financial Statements

Year ended 30 November 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5-11 Mortimer Street, London, W1T 3HS.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.

(b) Going concern

The company is currently developing properties for resale and was dependent on resolving planning issues on the properties. These planning issues have recently been resolved and the company is actively looking to sell the first phase of properties and generate sufficient revenues to fund future developments and clear current debts. As a result the directors consider the company to be a going concern for the foreseeable future.

(c) Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

(d) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

(e) Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and equipment	-	20% straight line
Office equipment	-	33 % straight line

(f) Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the property developments to their present location and condition. Interest on amounts advanced to the company to develop the properties is included in stock and amounted to £326,809 for the year (2023: £233,600).

(g) Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Financial liabilities are recognised at the obligation outstanding at the balance sheet date.

4. Tangible assets

	Plant and machinery	Equipment	Total
	£	£	£
Cost
At 1 December 2023 and 30 November 2024	16,479	1,011	17,490
	-------	------	-------
Depreciation
At 1 December 2023	8,400	979	9,379
Charge for the year	2,833	32	2,865
	-------	------	-------
At 30 November 2024	11,233	1,011	12,244
	-------	------	-------
Carrying amount
At 30 November 2024	5,246	–	5,246
	-------	------	-------
At 30 November 2023	8,079	32	8,111
	-------	------	-------

5. Debtors

	2024	2023
	£	£
Other debtors	37	5,075
	----	------

6. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	65,039	39,096
Trade creditors	22,047	25,127
Social security and other taxes	255,775	97,335
Other creditors	3,726,756	3,405,445
	-----------	-----------
	4,069,617	3,567,003
	-----------	-----------

Included in other creditors falling due within one year is £3,337,584 (2023:£3,012,787) which relate to advances made to the company to finance property developments. These advances are secured by charges on the company's properties included in stock and have also been personally guaranteed by the directors.

7. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	734,160	744,271
Other creditors	500,000	500,000
	-----------	-----------
	1,234,160	1,244,271
	-----------	-----------

Bank loans and overdrafts falling due after more than one year includes a bank loan of £728,000 (2023:£728,000) which is secured on one of the company's properties and has been personally guaranteed by the directors. Other creditors falling due after more than one year represent advances made to the company to finance property developments. The advances are repayable on the sale or rental of the developed properties and are regarded as falling due after more than one year at the balance sheet date. These creditors are secured by charges on the company's properties included in stock and have also been personally guaranteed by the directors.