Beacon Hill Homes Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11217028 (England and Wales)

Unaudited Financial Statements for the Year Ended 29 February 2020

for

Beacon Hill Homes Ltd

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

W E Anthony

R J Williams

REGISTERED OFFICE:

Electra House

1a Gilberd Road

Colchester

Essex

CO2 7LR

REGISTERED NUMBER:

11217028 (England and Wales)

ACCOUNTANTS:

JTF

Chartered Certified Accountants

Electra House

1A Gilberd Road

Colchester

Essex

CO2 7LR

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Beacon Hill Homes Ltd for the year ended 29 February 2020 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Beacon Hill Homes Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Beacon Hill Homes Ltd and state those matters that we have agreed to state to the Board of Directors of Beacon Hill Homes Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Beacon Hill Homes Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Beacon Hill Homes Ltd. You consider that Beacon Hill Homes Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Beacon Hill Homes Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

JTF

Chartered Certified Accountants

Electra House

1A Gilberd Road

Colchester

Essex

CO2 7LR

24 November 2020

FIXED ASSETS

Tangible assets

4

6,655

6,532

CURRENT ASSETS

Stocks

887,135

684,623

Debtors

5

14,350

6,926

Cash at bank

50,429

4,627

951,914

696,176

CREDITORS

Amounts falling due within one year

6

168,324

45,204

NET CURRENT ASSETS

783,590

650,972

TOTAL ASSETS LESS CURRENT LIABILITIES

790,245

657,504

CREDITORS

Amounts falling due after more than one year

7

790,235

657,494

NET ASSETS

10

10

CAPITAL AND RESERVES

Called up share capital

8

10

10

SHAREHOLDERS' FUNDS

10

10

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2020 in accordance with Section 476 of the Companies Act 2006.

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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 November 2020 and were signed on its behalf by:

W E Anthony - Director

1.	STATUTORY INFORMATION

Beacon Hill Homes Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Furniture and fixtures

-

10% on cost

Office equipment

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2019

7,893

Additions

1,941

Disposals

(74

)

At 29 February 2020

9,760

DEPRECIATION

At 1 March 2019

1,287

Charge for year

1,818

At 29 February 2020

3,105

NET BOOK VALUE

At 29 February 2020

6,655

At 28 February 2019

6,606

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.2.20

28.2.19

£

£

Other debtors

14,350

6,926

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.2.20

28.2.19

£

£

Trade creditors

4,053

3,000

Taxation and social security

-

77

Other creditors

164,271

42,127

168,324

45,204

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

29.2.20

28.2.19

£

£

Other creditors

790,235

657,494

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

29.2.20

28.2.19

value:

£

£

4

Ordinary A

£1

4

4

1

Ordinary B

£1

1

1

5

Ordinary C

£1

5

5

10

10

The Ordinary A Shares will have full rights in the company with regard to voting, dividend and capital distribution. A dividend may be paid in respect of this class of share to the exclusion of any other class of share currently in issue. Where a dividend is declared in respect of all classes of share the company may, by ordinary resolution, differentiate between this and any or all other classes as to the amount or percentage of dividend payable but by default the shares in this class shall be deemed to rank pari passu with any other share class currently in issue, unless the rights attached to such other class specify otherwise.

The Ordinary B Shares and the Ordinary C Shares will have no rights in the company with regard to voting and capital distribution. A dividend may be paid in respect of each of these classes of share to the exclusion of any other class of share currently in issue. Where a dividend is declared in respect of all classes of share the company may, by ordinary resolution, differentiate between these and any or all other classes as to the amount or percentage of dividend payable but by default the shares in these classes shall be deemed to rank pari passu with any other share class currently in issue, unless the rights attached to such other class specify otherwise.

9.	RELATED PARTY DISCLOSURES

During the period, the company was provided with a loan by one of the directors. The loan is repayable upon the director giving notice of one year plus one day. The balance of the loan at the end of the year was £790,235 (2019: £657,494. Interest is payable at the rate of 2% per annum. The amount of interest charged in the period was £12,741 ( 2019: £2,256).

In addition, the company was also provided with an interest-free loan, repayable on demand, by one of the directors. The balance outstanding at the end of the year was £163,181 (2019: 41,329).