Otley Homes Limited - Filleted accounts

Registered number

12823311

Otley Homes Limited

Filleted Accounts

31 October 2025

Otley Homes Limited
Registered number:		12823311
Balance Sheet
as at 31 October 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		24,139			37,126

Current assets
Stocks		320,000			855,000
Debtors	4	39,291			45,629
Cash at bank and in hand		94			1,514
		359,385			902,143

Creditors: amounts falling due within one year	5	(660,146)			(987,145)

Net current liabilities			(300,761)			(85,002)

Total assets less current liabilities			(276,622)			(47,876)

Creditors: amounts falling due after more than one year	6		(9,997)			(21,994)

Provisions for liabilities			(4,587)			(7,054)


Net liabilities			(291,206)			(76,924)

Capital and reserves
Called up share capital			101			101
Profit and loss account			(291,307)			(77,025)

Shareholders' funds			(291,206)			(76,924)

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr S Johnson
Director
Approved by the board on 24 April 2026

Otley Homes Limited
Notes to the Accounts
for the year ended 31 October 2025

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	over 4 years

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

1	Accounting policies (cont'd)

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			2		2


3	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 November 2024	25,530		29,990		55,520
	At 31 October 2025	25,530		29,990		55,520

	Depreciation
	At 1 November 2024	10,272		8,122		18,394
	Charge for the year	5,489		7,498		12,987
	At 31 October 2025	15,761		15,620		31,381

	Net book value
	At 31 October 2025	9,769		14,370		24,139
	At 31 October 2024	15,258		21,868		37,126


4	Debtors			2025		2024
£					£

	Trade debtors			34,700		37,200
	Prepayments and accrued income			1,580		5,417
	Other debtors			3,011		3,012
				39,291		45,629


5	Creditors: amounts falling due within one year			2025		2024
£					£

	Bank loans and overdrafts			314,597		667,212
	Obligations under finance lease and hire purchase contracts			11,996		11,996
	Trade creditors			726		1,978
	Taxation and social security costs			588		556
	Director's loan account			309,031		301,089
	Accruals and deferred income			1,405		605
	Other creditors			21,803		3,709
				660,146		987,145


6	Creditors: amounts falling due after one year			2025		2024
£					£

	Obligations under finance lease and hire purchase contracts			9,997		21,994


7	Related party transactions

	During the year, the company made sales amounting to £nil (2024 – £224,196) to Mrs K Johnson, the spouse of Mr S Johnson, a director and the controlling party. The sales were made on an arm's length basis. An amount of £34,700 (2024 - £37,200) was outstanding from the company at the period end.

	During the year, the company made sales amounting to £11,207 (2024 – £118,933) to Otley Homes SVP Limited, which is a company under common control. The sales were made on an arm's length basis. In relation to the sales no amounts were outstanding from the company at the period end.

	During the year the company loaned £18,094 to Otley Homes SVP Limited, a company under common control. No interest has been charged and the loan is repayable on demand. At 31 October 2025 the company was owed £21,803 (2024 - £3,709) by Otley Homes SVP Limited.

8	Controlling party

	By virtue of his shareholding, Mr S Johnson is the controlling party.


9	Other information

	Otley Homes Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Bury Lodge
	Bury Road
	Stowmarket
	Suffolk
	IP14 1JA