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COMPANY REGISTRATION NUMBER: 09308435

TRUELOVE HOMES LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED

5 April 2025

TRUELOVE HOMES LTD

STATEMENT OF FINANCIAL POSITION

5 April 2025

| 5 Apr 25 | 31 Mar 24
Note | £ | £

Current assets

Stock and work in progress | 5,323,677 | 4,466,388
Debtors | 5 | 1,095,888 | 1,128,845
Cash at bank and in hand | 88 | 198
| ------------- | -------------
| 6,419,653 | 5,595,431

Creditors: amounts falling due within one year | 6 | ( 4,876,319) | ( 3,666,131)
| ------------- | -------------
Net current assets | 1,543,334 | 1,929,300
| ------------- | -------------
Total assets less current liabilities | 1,543,334 | 1,929,300
| ------------- | -------------
Net assets | 1,543,334 | 1,929,300
| ------------- | -------------

Capital and reserves

Called up share capital | 1 | 1
Profit and loss account | 1,543,333 | 1,929,299
| ------------- | -------------
Shareholders funds | 1,543,334 | 1,929,300
| ------------- | -------------

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 period ending 5 April 2025 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 period 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 .

TRUELOVE HOMES LTD

STATEMENT OF FINANCIAL POSITION (continued)

5 April 2025
These financial statements were approved by the board of directors and authorised for issue on 22 January 2026 , and are signed on behalf of the board by:

Mrs J P Truelove
Director

Company registration number: 09308435

TRUELOVE HOMES LTD

NOTES TO THE FINANCIAL STATEMENTS

PERIOD FROM 1 APRIL 2024 TO 5 APRIL 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4a Eastgate, Lincoln, Lincolnshire, LN2 1QA.
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
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. The directors do not consider there to be any significant judgements or estimations in the financial statements.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover 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 material 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.
Stock and work in progress
Land and property under construction are stated at the lower of cost and net realisable value. Disposals are recognised on unconditional exchange of contracts: profits and losses arising are dealt with through the profit and loss account.
Financial instruments
The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are 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 amortised cost. Financial liabilities - trade creditors and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 3 (2024: 3 ).
5. Debtors

| 5 Apr 25 | 31 Mar 24
| £ | £
Amounts owed by group undertakings and undertakings in which the company has a participating interest | 255,094 | 255,094
Other debtors | 840,794 | 873,751
| ------------- | -------------
| 1,095,888 | 1,128,845
| ------------- | -------------

Included within other debtors is a deferred tax asset of £715,612 (2024 - £715,612).
6. Creditors: amounts falling due within one year

| 5 Apr 25 | 31 Mar 24
| £ | £
Bank loans and overdrafts | – | 795,913
Trade creditors | 33,298 | 3,480
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 4,830,271 | 2,862,988
Other creditors | 12,750 | 3,750
| ------------- | -------------
| 4,876,319 | 3,666,131
| ------------- | -------------

7. Related party transactions
Outside the group there are several connected companies, LLP's and pension schemes and loans exist with several of these entities. At the year end the company was owed £123,598 (2024 - £149,402) by these entities and owed £7,800 (2024 - £1,500) to these entities. A management charge of £16,465 (2024 - £14,702) was paid to one of the entities.
8. Controlling party
The company is ultimately controlled by Truelove Property & Construction Limited, a company incorporated and registered in England and Wales. The registered office and principle place of business of Truelove Property & Construction Limited is: 4A Eastgate Lincoln Lincolnshire LN2 1QA