Savernake Homes Limited
Savernake Homes Limited
Registered number: 09843829
Unaudited Financial Statements
For The Year Ended
31 October 2019
Simon Porter & Co Accountants Ltd
Savernake Homes Limited
Unaudited Financial Statements
For The Year Ended
31 October 2019
Unaudited Financial Statements
Contents | |
Page | |
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Balance Sheet | 1—2 |
Notes to the Financial Statements | 3—4 |
Savernake Homes Limited
Balance Sheet
As at
31 October 2019
Balance Sheet
Registered number:
09843829
For the year ending 31 October 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
2019 | 2018 | ||||
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Notes | £ | £ | £ | £ | |
CURRENT ASSETS | |||||
Stocks | 3 |
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Debtors | 4 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 5 |
( |
( |
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NET CURRENT ASSETS (LIABILITIES) |
( |
( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
( |
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NET LIABILITIES |
( |
( |
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CAPITAL AND RESERVES | |||||
Called up share capital | 6 |
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Profit and Loss Account |
( |
( |
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SHAREHOLDERS' FUNDS | (26,550) | (21,017) | |||
Page 1
Savernake Homes Limited
Balance Sheet (continued)
As at
31 October 2019
Directors' responsibilities:
-
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. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Director
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The notes on pages 3 to 4 form part of these financial statements.
Page 2
Savernake Homes Limited
Notes to the Financial Statements
For The Year Ended
31 October 2019
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
1.3.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2018: 2)
3.
Stocks
2019 | 2018 | ||
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£ | £ | ||
Stock - work in progress |
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4.
Debtors
2019 | 2018 | ||
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£ | £ | ||
Due within one year | |||
Other debtors |
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VAT |
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Directors' loan accounts | 1,075 | 27,375 | |
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5.
Creditors: Amounts Falling Due Within One Year
2019 | 2018 | ||
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£ | £ | ||
Bank loans and overdrafts |
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Other creditors |
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Accruals and deferred income |
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Directors' loan accounts |
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Page 3
Savernake Homes Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 October 2019
6.
Share Capital
2019 | 2018 | ||
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Allotted, Called up and fully paid |
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7.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at
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Amounts advanced | Amounts repaid | Amounts written off | As at
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£ | £ | £ | £ | £ | |
Philip Watkins |
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The above loan is unsecured, interest free and repayable on demand.
8.
Related Party Transactions
During the year the company received a loan amounting to £56,055 from S Wetton, director and repaid £35,416.94 relating to the opening directors loan balance of £57,603.83. At the balance sheet date the loan was still outstanding and is presented within creditors; amounts falling due within one year.
9.
General Information
Savernake Homes Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
09843829
. The registered office is Round Shaw Farm, Ipsden Heath, Wallingford, OX10 6QR.
Page 4