Clayewater Homes Ltd - Accounts to registrar (filleted) - small 18.2

Clayewater Homes Ltd - Accounts to registrar (filleted) - small 18.2

CLAYEWATER HOMES LTD - Company Information

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REGISTERED NUMBER: 06719634 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2020

FOR

CLAYEWATER HOMES LTD
CLAYEWATER HOMES LTD (REGISTERED NUMBER: 06719634)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2020










Page

Balance Sheet 1

Notes to the Financial Statements 3


CLAYEWATER HOMES LTD (REGISTERED NUMBER: 06719634)

BALANCE SHEET
31 OCTOBER 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 274,973 129,233
Investment property 5 172,500 172,500
447,473 301,733

CURRENT ASSETS
Stocks 2,943,138 1,584,275
Debtors 6 135,178 363,210
Cash at bank 863,973 112,726
3,942,289 2,060,211
CREDITORS
Amounts falling due within one year 7 1,005,188 597,595
NET CURRENT ASSETS 2,937,101 1,462,616
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,384,574
1,764,349

CREDITORS
Amounts falling due after more than one
year
8
(996,712
)
(142,350
)

PROVISIONS FOR LIABILITIES (50,238 ) (22,420 )
NET ASSETS 2,337,624 1,599,579

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Fair value reserve 10 (27,767 ) (27,767 )
Retained earnings 2,363,391 1,625,346
SHAREHOLDERS' FUNDS 2,337,624 1,599,579

The notes on pages 3 to 5 form part of these financial statements

Page 1 continued...
CLAYEWATER HOMES LTD (REGISTERED NUMBER: 06719634)

BALANCE SHEET - continued
31 OCTOBER 2020


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 November 2020 and were signed by:





Mr B Webber - Director


The notes on pages 3 to 5 form part of these financial statements

Page 2
CLAYEWATER HOMES LTD (REGISTERED NUMBER: 06719634)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2020


1. STATUTORY INFORMATION

Clayewater Homes Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06719634

Registered office: Grenville House
9 Boutport Street
Barnstaple
Devon
EX31 1TZ

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Depreciation
Depreciation is calculated so as to write off the cost of an asset over the useful economic life of that asset as follows:

Plant and Machinery- 15% on written down value
Motor Vehicles- 25% on written down value
Equipment- 25% on written down value

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Page 3 continued...
CLAYEWATER HOMES LTD (REGISTERED NUMBER: 06719634)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2020


2. ACCOUNTING POLICIES - continued

Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2019 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2019 180,850
Additions 170,913
At 31 October 2020 351,763
DEPRECIATION
At 1 November 2019 51,617
Charge for year 25,173
At 31 October 2020 76,790
NET BOOK VALUE
At 31 October 2020 274,973
At 31 October 2019 129,233

Included within the net book value of £274,973 is £228,965 (2019 - £129,233) relating to assets held under hire purchase agreements. The depreciation charged to the financial statements in the year in respect of such assets amounted to £15,707 (2019 - £10,836).

5. INVESTMENT PROPERTY

The directors consider that remaining property in Taunton will no longer be developed for sale. The property was transferred out of trading stock into freehold investment properties at 31 October 2016 based on informal valuations undertaken by the directors on behalf of the Company. The directors are of the opinion that there is no material difference between these valuations and the open market value

There has been no change to this position as 31 October 2020.

Page 4 continued...
CLAYEWATER HOMES LTD (REGISTERED NUMBER: 06719634)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2020


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade debtors 92,298 92,623
Other debtors 42,880 270,587
135,178 363,210

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Hire purchase contracts 48,358 31,394
Trade creditors 472,040 191,180
Taxation and social security 150,303 92,662
Other creditors 334,487 282,359
1,005,188 597,595

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2020 2019
£    £   
Bank loans 865,260 115,260
Hire purchase contracts 131,452 27,090
996,712 142,350

9. SECURED DEBTS

The following secured debts are included within creditors:

2020 2019
£    £   
Hire purchase contracts 179,810 58,484

10. RESERVES
Fair
value
reserve
£   
At 1 November 2019
and 31 October 2020 (27,767 )

Page 5