B D C Homes Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02864120 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

B D C HOMES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr C B Horne

Mrs J E Horne

REGISTERED OFFICE:

Unit 2 Charnwood Edge Business Park

Syston Road

Cossington

Leicester

LE7 4UZ

REGISTERED NUMBER:

02864120 (England and Wales)

ACCOUNTANTS:

Magma Audit LLP

Unit 2

Charnwood Edge Business Park

Syston Road

Leicester

LE7 4UZ

FIXED ASSETS

Tangible assets

4

268

401

Investments

5

349,413

422,450

349,681

422,851

CURRENT ASSETS

Debtors

6

2,126

10,075

Investments

7

-

190,240

Cash at bank

199,559

4,403

201,685

204,718

CREDITORS

Amounts falling due within one year

8

(12,403

)

(1,088

)

NET CURRENT ASSETS

189,282

203,630

TOTAL ASSETS LESS CURRENT LIABILITIES

538,963

626,481

CAPITAL AND RESERVES

Called up share capital

155,000

155,000

Retained earnings

9

383,963

471,481

538,963

626,481

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 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 4 September 2022 and were signed on its behalf by:

Mr C B Horne - Director

1.	STATUTORY INFORMATION

B D C Homes Limited is a limited company, limited by shares, registered in England and Wales. Its registered office address is Unit 2 Charnwood Edge Business Park, Syston Road, Cossington, Leicester, United Kingdom, LE7 4UZ and the registered number is 02864120.

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 as modified by the revaluation of certain assets.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and 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 profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2021

and 31 December 2021

2,932

DEPRECIATION

At 1 January 2021

2,531

Charge for year

133

At 31 December 2021

2,664

NET BOOK VALUE

At 31 December 2021

268

At 31 December 2020

401

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 January 2021

422,450

Additions

160,415

Disposals

(208,731

)

Revaluations

(24,721

)

At 31 December 2021

349,413

NET BOOK VALUE

At 31 December 2021

349,413

At 31 December 2020

422,450

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Corporation tax repayable

2,126

2,263

Directors' current accounts

-

7,812

2,126

10,075

7.	CURRENT ASSET INVESTMENTS

2021

2020

£

£

Other

-

190,240

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Taxation and social security

10,085

137

Other creditors

2,318

951

12,403

1,088

9.

RESERVES

The split between distributable and un-distributable reserves are as follows;

2021

£

Distributable

418,557

Un-distributable

(24,721

)

394,047

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2021 and 31 December 2020:

2021

2020

£

£

Mr C B Horne

Balance outstanding at start of year

7,812

6,943

Amounts advanced

20,180

45,869

Amounts repaid

(29,359

)

(45,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(1,367

)

7,812