ER HOMES LIMITED

Company Registration Number:
10538606 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2025

Period of accounts

Start date: 1 April 2024

End date: 31 March 2025

ER HOMES LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2025

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

ER HOMES LIMITED

Directors' report period ended 31 March 2025

The directors present their report with the financial statements of the company for the period ended 31 March 2025

Principal activities of the company

To carry out market development , include the sale of land (as custom build plots or development opportunities) as well as the construction and sale of completed homes

Political and charitable donations

The company made a pre-tax loss of £12k after management recharges, audit fees and other costs. Due to the uncertainty relating to the sale of the Hambledon stock unit , Board considered it inappropriate to make the planned gift aid payment arising from prior year profits

Additional information

Business review During the year, the company made one sale of two plots to the Developer of an affordable homes scheme being built on behalf of English Rural Housing Association at West Kingsdown. The anticipated sale of the one remaining stock plot at Hambledon did not complete in the financial year , however it did go on to complete in April 2025. Principal risks As the core activity is selling completed homes or plots in the open market, the main risks to the Company relate to a deterioration in economic conditions, resulting in a reduced demand for its product and a consequent impact on cash flow and profitability. Results The company made a pre-tax loss of £12k after management recharges, audit fees and other costs. Due to the uncertainty relating to the sale of the Hambledon stock unit , Board considered it inappropriate to make the planned gift aid payment arising from prior year profits and consequently a tax liability of £16k crystalised and was paid. ER Homes Limited continues to have access to the inter-company loan facility to fund any on-going construction and operating costs in the event of suitable opportunities arising. Going concern The Company has access to a £3m revolving credit facility with its parent, English Rural, of which £530k was drawn at the end of the period (2024 - £454k). The sale of Hambledon stock unit in April 2025, for £600k has enabled the loan to be settled in full. There are no current revenue generating contracts or commitments, however the Company retains sufficient resources to service any medium term management and operating costs. As the Board has an expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, being a period of at least twelve months after the date on which the report and financial statements are signed, it continues to adopt the going concern basis in the financial statements.



Directors

The directors shown below have held office during the whole of the period from
1 April 2024 to 31 March 2025

Eddie Smy
 Richard DeVille
 Philip O'Dwyer
 Katherine Singleton

Secretary Eddie Smy

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
31 July 2025

And signed on behalf of the board by:
Name: Philip O'Dwyer
Status: Director

ER HOMES LIMITED

Profit And Loss Account

for the Period Ended 31 March 2025

2025 2024


£
£
Turnover: 290,000 766,266
Cost of sales: ( 274,053 ) ( 641,460 )
Gross profit(or loss): 15,947 124,806
Administrative expenses: ( 28,350 ) ( 31,042 )
Operating profit(or loss): (12,403) 93,764
Interest receivable and similar income: 534
Interest payable and similar charges: ( 29,018 )
Profit(or loss) before tax: (11,869) 64,746
Tax: ( 15,908 )
Profit(or loss) for the financial year: (27,777) 64,746

ER HOMES LIMITED

Balance sheet

As at 31 March 2025

Notes 2025 2024


£
£
Current assets
Stocks: 3 590,318 548,766
Debtors: 4 0 12,000
Cash at bank and in hand: 5,292 32,738
Total current assets: 595,610 593,504
Net current assets (liabilities): 595,610 593,504
Total assets less current liabilities: 595,610 593,504
Creditors: amounts falling due after more than one year: 5 ( 530,000 ) ( 454,000 )
Accruals and deferred income: ( 28,741 ) ( 74,858 )
Total net assets (liabilities): 36,869 64,646
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 36,868 64,645
Total Shareholders' funds: 36,869 64,646

The notes form part of these financial statements

ER HOMES LIMITED

Balance sheet statements

For the year ending 31 March 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 31 July 2025
and signed on behalf of the board by:

Name: Philip O'Dwyer
Status: Director

The notes form part of these financial statements

ER HOMES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2025

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents income received from the sale of land and property on the open market and is recognised in relation to the period in which the legal completion of sales is confirmed. The costs associated with these sales are recognised as cost of sales in the same period.

    Other accounting policies

    Properties developed for outright sale which have not been sold at 31 March are shown as stock at the lower of cost and net realisable value. Taxation including deferred taxation Deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, except that deferred tax assets are only recognised to the extent that they are regarded as more likely than not to be recoverable. Deferred tax balances are not discounted. Cash and cash equivalents Cash and cash equivalents comprise cash at bank Interest payable Borrowing costs are interest and other costs incurred in connection with the borrowing of funds to support development. Interest costs on borrowings to support the development of schemes have been capitalised against individual schemes the borrowing has supported.

ER HOMES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2025

  • 2. Employees

    2025 2024
    Average number of employees during the period 0 0

ER HOMES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2025

3. Stocks

2025 2024
£ £
Stocks 590,318 548,766
Total 590,318 548,766

ER HOMES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2025

4. Debtors

2025 2024
£ £
Other debtors 0 12,000
Total 0 12,000
Debtors due after more than one year: 0 12,000

ER HOMES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2025

5. Creditors: amounts falling due after more than one year note

2025 2024
£ £
Other creditors 530,000 454,000
Total 530,000 454,000

ER HOMES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2025

6. Financial Commitments

For 2024 , £290,500 had been authorised by Board but not yet contracted . For 2025, the figure was zero.