Churcham Homes Norton Limited 12010588 false 2023-08-01 2024-12-31 2024-12-31 The principal activity of the company is that of construction of domestic buildings. Digita Accounts Production Advanced 6.30.9574.0 true true 12010588 2023-08-01 2024-12-31 12010588 2024-12-31 12010588 bus:Consolidated 2024-12-31 12010588 core:CurrentFinancialInstruments 2024-12-31 12010588 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 12010588 bus:SmallEntities 2023-08-01 2024-12-31 12010588 bus:Audited 2023-08-01 2024-12-31 12010588 bus:FilletedAccounts 2023-08-01 2024-12-31 12010588 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-12-31 12010588 bus:RegisteredOffice 2023-08-01 2024-12-31 12010588 bus:Director1 2023-08-01 2024-12-31 12010588 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-12-31 12010588 countries:EnglandWales 2023-08-01 2024-12-31 12010588 2022-08-01 2023-07-31 12010588 2023-07-31 12010588 core:CurrentFinancialInstruments 2023-07-31 12010588 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 iso4217:GBP xbrli:pure

Registration number: 12010588

Prepared for the registrar
Churcham Homes Norton Limited
Annual Report and Financial Statements
for the Period from 1 August 2023 to 31 December 2024

Churcham Homes Norton Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Financial Statements | 3 to 7

Churcham Homes Norton Limited

Company Information

Director | Mr S D Hall

Registered office | 5 Huntley Business Park Ross Road Huntley Gloucester GL19 3FF

Auditors | Hazlewoods LLP Staverton Court Staverton Cheltenham GL51 0UX

Churcham Homes Norton Limited

(Registration number: 12010588)
Balance Sheet as at 31 December 2024

| Note | 31 December 2024 £ | 31 July 2023 £
Current assets |  |  |
Debtors | 4 | 17,500 | 85,000
Cash at bank and in hand |  | 748 | 2,349
|  | 18,248 | 87,349
Creditors: Amounts falling due within one year | 5 | (9,808) | (73,323)
Net assets |  | 8,440 | 14,026
Capital and reserves |  |  |
Called up share capital |  | 1 | 1
Profit and loss account |  | 8,439 | 14,025
Shareholders' funds |  | 8,440 | 14,026

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 April 2026

Mr S D Hall
Director

Churcham Homes Norton Limited

Notes to the Financial Statements for the Period from 1 August 2023 to 31 December 2024

| 1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
5 Huntley Business Park
Ross Road
Huntley
Gloucester
GL19 3FF

| 2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Name of parent of group

These financial statements are consolidated in the financial statements of Churcham Homes Holdings Limited.

The financial statements of Churcham Homes Holdings Limited may be obtained from the company's registered office: Unit 5, Huntley Business Park, Ross Road, Huntley, Gloucestershire, GL19 3FF..

Going concern

Following the completion of the site’s development, the directors intend to informally wind down the company, ensuring all its obligations from the development are fully met. Accordingly, the directors do not consider it appropriate to prepare the financial statements on a going concern basis and this includes, where applicable, writing the company's assets down to their net realisable value and making provisions against contracts that have become onerous at the reporting date. No material adjustments arose as a result of ceasing to apply the going concern basis of accounting.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Judgements

No significant judgements have been made by management in preparing these financial statements.

Churcham Homes Norton Limited

Notes to the Financial Statements for the Period from 1 August 2023 to 31 December 2024

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Churcham Homes Norton Limited

Notes to the Financial Statements for the Period from 1 August 2023 to 31 December 2024

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Churcham Homes Norton Limited

Notes to the Financial Statements for the Period from 1 August 2023 to 31 December 2024

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

| 3 | Staff numbers

The average number of persons employed by the company (including the director) during the period was as follows:

| 1 August 2023 to 31 December 2024 No. | Year ended 31 July 2023 No.
Average number of employees | 1 | 1

| 4 | Debtors

| 31 December 2024 £ | 31 July 2023 £
Amounts owed from group undertakings | 17,500 | 85,000
| 17,500 | 85,000

Churcham Homes Norton Limited

Notes to the Financial Statements for the Period from 1 August 2023 to 31 December 2024

| 5 | Creditors

| 31 December 2024 £ | 31 July 2023 £
Due within one year |  |
Taxation and social security | 7,457 | 71,405
Accruals and deferred income | 2,351 | 1,918
| 9,808 | 73,323

| 6 | Parent and ultimate parent undertaking

The ultimate parent is Churcham Homes Holdings Limited, incorporated in the United Kingdom. Churcham Homes Holdings Limited is the most senior entity producing publicly available financial statements. These statements are available upon request from Companies House.

| 7 | Audit report

The Independent Auditor's Report was unqualified. We draw attention to Note 2 to the financial statements which explains that the directors intend to informally wind down the company following the completion of the site’s development and the directors do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in Note 2. Our opinion is not modified in respect of this matter. The name of the Senior Statutory Auditor who signed the audit report on 17 April 2026 was Paul Fussell, who signed for and on behalf of Hazlewoods LLP.