REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023 |
FOR |
ENGLISH VILLAGE HOMES LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023 |
FOR |
ENGLISH VILLAGE HOMES LIMITED |
ENGLISH VILLAGE HOMES LIMITED (REGISTERED NUMBER: 07213124) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 April 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ENGLISH VILLAGE HOMES LIMITED |
COMPANY INFORMATION |
for the Year Ended 30 April 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Obsidian Offices |
Chantry Court |
Chester |
Cheshire |
CH1 4QN |
ENGLISH VILLAGE HOMES LIMITED (REGISTERED NUMBER: 07213124) |
ABRIDGED BALANCE SHEET |
30 April 2023 |
30.4.23 | 30.4.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
ENGLISH VILLAGE HOMES LIMITED (REGISTERED NUMBER: 07213124) |
ABRIDGED BALANCE SHEET - continued |
30 April 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
ENGLISH VILLAGE HOMES LIMITED (REGISTERED NUMBER: 07213124) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 April 2023 |
1. | STATUTORY INFORMATION |
English Village Homes Limited (company number 07213124) is a private company limited by shares, registered in England and Wales. Its registered office is 83 Ducie Street, Manchester, M1 2JQ |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company receives regular income from its investment property. The directors consider that the company has adequate resources to continue in operational existence for te foreseeable future. Therefore, the directors continue to adopt the going concern basis of accounting when preparing the annual financial statements. Furthermore, the financial statements have been prepared on the basis that continued support will be given by the company's creditors. |
Turnover |
Turnover represents rental income receivable during the year. |
Investment property |
Investment properties are properties held to earn rentals and/or capital appreciation. Investment properties are initially measured at cost plus transaction costs. Subsequently, Investment properties are measured at fair value. Investment property valuations are based upon open market value. Deferred tax is provided on these movements. Gains and losses arising from the changes in fair value are included in the Statement of Income and Retained Earnings in the period in which they arise. |
Financial instruments |
The following assets and liabilities are classified as financial instruments - Trade debtors, Trade creditors, Loans and directors' loans. Loans are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method less impairment. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Retained Earnings. |
Taxation |
Taxation for the year represents the sum of current and deferred tax. The company's liability for current tax is calculated using rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled, based upon tax rates that have been enacted or substantively enacted by the end of the reporting period. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
ENGLISH VILLAGE HOMES LIMITED (REGISTERED NUMBER: 07213124) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 April 2023 |
3. | ACCOUNTING POLICIES - continued |
Employee benefits |
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred. |
Provisions |
Provisions are recognised where it is probable that a present obligation exists as a result of an event prior to the Balance Sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2022 |
and 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
Fair value at 30 April 2023 is represented by: |
£ |
Valuation in 2013 | 7,204 |
Valuation in 2014 | 42,944 |
Valuation in 2015 | 10,000 |
Valuation in 2016 | 30,275 |
Valuation in 2017 | 5,509 |
Valuation in 2018 | (6,500 | ) |
Valuation in 2020 | 15,000 |
Valuation in 2021 | 25,000 |
Valuation in 2022 | 50,000 |
Cost | 485,568 |
665,000 |
The investment properties were valued on an open market basis on 30 April 2023 by the directors . |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
30.4.23 | 30.4.22 |
£ | £ |
Repayable otherwise than by instalments |
Property loans |
ENGLISH VILLAGE HOMES LIMITED (REGISTERED NUMBER: 07213124) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 April 2023 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.4.23 | 30.4.22 |
£ | £ |
Property loans | 156,131 | 156,131 |
The loans are secured by a floating charge over the company's properties. There are also personal guarantees by the shareholders. |
8. | PROVISIONS FOR LIABILITIES |
30.4.23 | 30.4.22 |
£ | £ |
Deferred tax | 32,800 | 32,800 |
Deferred |
tax |
£ |
Balance at 1 May 2022 |
Balance at 30 April 2023 |
9. | RELATED PARTY DISCLOSURES |
At 30 April 2023 the company owed £179,699 (2022: £183,674 to Mr I D Raffe. No interest has been charged to the company in respect of this loan which is repayable on demand and is classified in Creditors due within one year. |