Company Registration No. 05853038 (England and Wales)
Principal Homes Limited
Unaudited accounts
for the year ended 30 June 2026
Principal Homes Limited
Statement of financial position
as at 30 June 2026
Tangible assets
772,422
404,578
Inventories
92,002
609,208
Cash at bank and in hand
39,160
393,400
Creditors: amounts falling due within one year
(372,115)
(389,972)
Net current assets
303,838
707,737
Total assets less current liabilities
1,076,260
1,112,315
Provisions for liabilities
Deferred tax
(1,850)
(2,444)
Net assets
1,074,410
1,109,871
Called up share capital
1,000
1,000
Profit and loss account
1,073,410
1,108,871
Shareholders' funds
1,074,410
1,109,871
For the year ending 30 June 2026 the company was entitled to exemption from audit 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 September 2026 and were signed on its behalf by
Shaun Watcham
Director
Company Registration No. 05853038
Principal Homes Limited
Notes to the Accounts
for the year ended 30 June 2026
Principal Homes Limited is a private company, limited by shares, registered in England and Wales, registration number 05853038. The registered office is OAK HOUSE CHURCH LANE, GREAT HOLLAND, FRINTON-ON-SEA, CO13 0JS, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance Basis
Motor vehicles
25% Reducing Balance Basis
Computer equipment
25% Reducing Balance Basis
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Principal Homes Limited
Notes to the Accounts
for the year ended 30 June 2026
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 July 2025
394,802
5,125
19,000
1,037
419,964
Additions
369,846
-
-
588
370,434
At 30 June 2026
764,648
5,125
19,000
1,625
790,398
At 1 July 2025
-
3,503
10,985
898
15,386
Charge for the year
-
405
2,004
181
2,590
At 30 June 2026
-
3,908
12,989
1,079
17,976
At 30 June 2026
764,648
1,217
6,011
546
772,422
At 30 June 2025
394,802
1,622
8,015
139
404,578
Work in progress
92,002
609,208
Amounts falling due within one year
Accrued income and prepayments
-
100
Amounts falling due after more than one year
Other debtors
544,791
95,001
7
Creditors: amounts falling due within one year
2026
2025
Taxes and social security
14
31,858
Loans from directors
371,052
354,786
Principal Homes Limited
Notes to the Accounts
for the year ended 30 June 2026
8
Deferred taxation
2026
2025
Accelerated capital allowances
1,850
2,444
Provision at start of year
2,444
2,677
Credited to the profit and loss account
(594)
(233)
Provision at end of year
1,850
2,444
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Interest free loans made to the Company
177,393
11,133
-
188,526
Interest free loans made to the Company
177,393
11,133
-
188,526
11
Average number of employees
During the year the average number of employees was 2 (2025: 2).