| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 28 February 2025 |
| for |
| Tennyson Homes Limited |
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 28 February 2025 |
| for |
| Tennyson Homes Limited |
| Tennyson Homes Limited (Registered number: 03505379) |
| Contents of the Financial Statements |
| for the Year Ended 28 February 2025 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| Tennyson Homes Limited |
| Company Information |
| for the Year Ended 28 February 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Newland House |
| The Point |
| Weaver Road |
| LINCOLN |
| Lincolnshire |
| LN6 3QN |
| BANKERS: |
| 225 High Street |
| LINCOLN |
| Lincolnshire |
| LN2 1AZ |
| Tennyson Homes Limited (Registered number: 03505379) |
| Statement of Financial Position |
| 28 February 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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 were approved by the Board of Directors and authorised for issue on |
| Tennyson Homes Limited (Registered number: 03505379) |
| Notes to the Financial Statements |
| for the Year Ended 28 February 2025 |
| 1. | STATUTORY INFORMATION |
| Tennyson Homes Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| Estimates and judgements are continually evaluated by the directors and are based on historical experience and other relevant factors, including expectations of future events that are believed to be reasonable under the circumstances. |
| Tangible fixed asset lives and residual values |
| The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. Judgement is applied in determining the residual values of fixed assets by assessing the amount that the company would currently obtain for disposing of the asset in the condition it is expected to be in at the end of its useful life. The estimation of useful lives is based on historic performance as well as expectations about future use. Useful lives are reviewed to reflect current estimates of technological advancement, future investment policy, economic utilisation and the physical condition of the asset. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Stock and work in progress |
| Stocks and work in progress are valued at the lower of cost and net realisable value inclusive of attributable overheads. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
| Work in progress includes properties that are currently rented out awaiting the change in market conditions prior to their sale. |
| Financial instruments |
| Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows: |
| Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. |
| Cash at bank is classified as a basic financial instrument and is measured at transaction price. |
| Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest. |
| Tennyson Homes Limited (Registered number: 03505379) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| 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. |
| Leasing |
| Rental income from operating leases is recognised on a straight line basis over the term of the lease. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Motor |
| machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 March 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 28 February 2025 |
| DEPRECIATION |
| At 1 March 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 28 February 2025 |
| NET BOOK VALUE |
| At 28 February 2025 |
| At 29 February 2024 |
| Tennyson Homes Limited (Registered number: 03505379) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2025 |
| 5. | STOCKS |
| Included in the stocks and work in progress figures is properties that are currently being rented out, but is still held for resale and it is the intention of the directors to sell this property at the earliest opportunity. |
| The rentals received relating to these properties was £210,676 (2024: £126,670). |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| VAT |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Amounts owed to related parties |
| Tax | ( |
) |
| Social security and other taxes |
| Deposits taken | 6,000 | 7,000 |
| Directors' current accounts | 87,904 | 102,701 |
| Accrued expenses |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| The other loans balance is secured by way of a legal charge over the assets of the company. |
| Tennyson Homes Limited (Registered number: 03505379) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2025 |
| 9. | RELATED PARTY DISCLOSURES |
| The following directors had loan account balances due from the company as at 28 February 2024: |
| Mr S P Roe £4,890 (2024 - £4,890). |
| Mr H J Roe £76,051 (2024 - £90,848). |
| Mrs W J Roe £1,764 (2024 - £1,764). |
| Mrs S M O Roe £5,199 (2024 - £5,199). |
| All balances are unsecured and interest free in 2024.. |
| Included in creditors is a balance owing to H & S Roe & Sons Farms Limited of £2,106,736 (2024: £2,246,675) this amount is net of trade debtors and creditors. H & S Roe & Sons Farms Limited is a company in which the directors or their family members are shareholders excluding Mr G Finney who is not a director of H & S Roe & Sons Farms Limited, or family member. |
| During the year payments were made to H & S Roe & Sons Farms Limited totalling £32,083 (2024: £35,000) in respect to use of yard expenses and £69,200 (2024: £75,500) in respect of administration charges. |
| These balances are on an unsecured interest free basis. |