COMPANY REGISTRATION NUMBER:
09866527
|
Filleted Unaudited Financial Statements |
|
|
Report to the Directors on the Preparation of the Unaudited Statutory Accounts of
127 Homes Limited |
|
Year ended 30 November 2025
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 30 November 2025. On the balance sheet, you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view". You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited. The financial statements are provided exclusively to the directors for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
TC GROUP
3B Swallowfield Courtyard
Wolverhampton Road
Oldbury
West Midlands
B69 2JG
|
Statement of Financial Position |
|
30 November 2025
Fixed assets
|
Tangible assets |
4 |
524,006 |
524,006 |
|
|
|
|
Current assets
|
Debtors |
5 |
3,135 |
3,803 |
|
Cash at bank and in hand |
1,108 |
1,776 |
|
------- |
------- |
|
4,243 |
5,579 |
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
263,208 |
263,120 |
|
--------- |
--------- |
|
Net current liabilities |
258,965 |
257,541 |
|
--------- |
--------- |
|
Total assets less current liabilities |
265,041 |
266,465 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
7 |
335,413 |
335,413 |
|
--------- |
--------- |
|
Net liabilities |
(
70,372) |
(
68,948) |
|
--------- |
--------- |
|
|
|
|
Capital and reserves
|
Called up share capital |
8 |
100 |
100 |
|
Profit and loss account |
9 |
(
70,472) |
(
69,048) |
|
-------- |
-------- |
|
Shareholders deficit |
(
70,372) |
(
68,948) |
|
-------- |
-------- |
|
|
|
|
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 year ending 30 November 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 year 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
.
|
Statement of Financial Position (continued) |
|
30 November 2025
These financial statements were approved by the
board of directors
and authorised for issue on
31 July 2026
, and are signed on behalf of the board by:
|
Professor J M Pymm |
|
Director |
|
Company registration number:
09866527
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Notes to the Financial Statements |
|
Year ended 30 November 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 3b Swallowfield Courtyard, Wolverhampton Road, Oldbury, West Midlands, B69 2JG, England.
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.
Going concern
The financial statements have been prepared under the going concern basis with the understanding that the directors will continue to support the business for the foreseeable future.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: Disclosures in respect of financial instruments have not been presented.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Investment property Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Tangible assets
|
Investment Property |
|
£ |
|
Cost |
|
|
At 1 December 2024 and 30 November 2025 |
524,006 |
|
--------- |
|
Depreciation |
|
|
At 1 December 2024 and 30 November 2025 |
– |
|
--------- |
|
Carrying amount |
|
|
At 30 November 2025 |
524,006 |
|
--------- |
|
At 30 November 2024 |
524,006 |
|
--------- |
|
|
Investment properties, which are all leasehold, are carried at the historical cost in the financial statements. The directors hsve assessed the market value of each property at the reporting date, and do not consider this to be materially different to the historical cost.
5.
Debtors
|
2025 |
2024 |
|
£ |
£ |
|
Prepayments and accrued income |
3,135 |
3,619 |
|
Other debtors |
– |
184 |
|
------- |
------- |
|
3,135 |
3,803 |
|
------- |
------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Accruals and deferred income |
1,805 |
1,717 |
|
Director loan accounts |
261,403 |
261,403 |
|
--------- |
--------- |
|
263,208 |
263,120 |
|
--------- |
--------- |
|
|
|
7.
Creditors:
amounts falling due after more than one year
|
2025 |
2024 |
|
£ |
£ |
|
Bank loans and overdrafts |
335,413 |
335,413 |
|
--------- |
--------- |
|
|
|
Bank loans and overdrafts falling due over one year represent three interest only repayment mortgages. Three legal charges were registered at Companies House in the previous year in favour of LendInvest BTL Limited and Aldermore Bank Plc in respect of mortgages secured over the company's leasehold properties. All three charges were satisfied during the year.
8.
Called up share capital
Issued, called up and fully paid
|
2025 |
2024 |
|
No. |
£ |
No. |
£ |
|
Ordinary shares of £ 1 each |
100 |
100 |
100 |
100 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
9.
Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.
10.
Directors' advances, credits and guarantees
At the year end there was an amount of £261,403 (2024: £261,403) due jointly to Prof J M Pymm and Dr S Pymm, which is an unsecured loan and interest free.