| G B Homes (SW) Limited |
|
| Balance Sheet |
|
| As at 31 July 2021 |
|
| Notes |
|
|
2021 |
|
|
2020 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
12,761 |
|
|
13,809 |
|
| Current assets |
| Stocks |
|
|
260,000 |
|
|
286,595 |
| Debtors |
4 |
|
94,929 |
|
|
7,463 |
| Cash at bank and in hand |
|
|
383,847 |
|
|
124,338 |
|
|
|
738,776 |
|
|
418,396 |
|
| Creditors: amounts falling due within one year |
5 |
|
(228,230) |
|
|
(36,641) |
|
| Net current assets |
|
|
|
510,546 |
|
|
381,755 |
|
| Total assets less current liabilities |
|
|
|
523,307 |
|
|
395,564 |
|
| Provisions for liabilities |
| Deferred taxation |
|
|
|
(2,425) |
|
|
(2,624) |
|
|
| Net assets |
|
|
|
520,882 |
|
|
392,940 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
520,782 |
|
|
392,840 |
|
| Shareholders' funds |
|
|
|
520,882 |
|
|
392,940 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
| ………………… |
| T G Blight |
| Director |
| Approved by the board on 25 April 2022 |
|
| G B Homes (SW) Limited |
|
| Notes to the Accounts |
|
| For the Year Ended 31 July 2021 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
|
|
Turnover |
|
Turnover represents the value of properties sold during the year adjusted for work in progress. |
|
|
Tangible fixed assets and depreciation |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
20% on a reducing balance basis |
|
Motor vehicles |
25% on a reducing balance basis |
|
Computer |
25% on a reducing balance basis |
|
|
|
|
Stocks |
|
Stock is valued at the lower cost and net realisable value. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. |
|
|
|
|
| 2 |
Employees |
2021 |
|
2020 |
| Number |
Number |
|
|
Average number of persons employed by the company |
|
(excluding directors) |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
Computer |
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 August 2020 |
323 |
|
5,106 |
|
17,617 |
|
23,046 |
|
Additions |
- |
|
2,969 |
|
- |
|
2,969 |
|
At 31 July 2021 |
323 |
|
8,075 |
|
17,617 |
|
26,015 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 August 2020 |
305 |
|
4,528 |
|
4,404 |
|
9,237 |
|
Charge for the year |
4 |
|
710 |
|
3,303 |
|
4,017 |
|
At 31 July 2021 |
309 |
|
5,238 |
|
7,707 |
|
13,254 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 July 2021 |
14 |
|
2,837 |
|
9,910 |
|
12,761 |
|
At 31 July 2020 |
18 |
|
578 |
|
13,213 |
|
13,809 |
|
|
| 4 |
Debtors |
2021 |
|
2020 |
| £ |
£ |
|
|
Trade debtors |
83,926 |
|
- |
|
Directors loan |
|
- |
|
5,222 |
|
Other debtors |
11,003 |
|
2,241 |
|
|
|
|
|
|
94,929 |
|
7,463 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2021 |
|
2020 |
| £ |
£ |
|
|
Bank loans and overdrafts (secured) |
3,842 |
|
- |
|
Trade creditors |
46,004 |
|
3,733 |
|
Corporation tax |
58,359 |
|
27,702 |
|
Other taxes and social security costs |
2,722 |
|
202 |
|
Other creditors |
117,303 |
|
5,004 |
|
|
|
|
|
|
228,230 |
|
36,641 |
|
|
|
|
|
|
|
|
|
|
The bank overdraft is secured on the assets of the company. |
|
|
|
|
|
|
| 6 |
Related party transactions |
|
|
At the balance sheet date the company owed the sum of £110,339 to the director in respect of an interest free loan (2020: £5,222 owed to the company). |
|
Dividends totalling £120,000 were paid to the director and his spouse in the year. |
|
|
| 7 |
Controlling party |
|
|
The company is controlled by the director and his spouse. |
|
|
| 8 |
Other information |
|
|
G B Homes (SW) Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
|
59 West End |
|
Redruth |
|
Cornwall |
|
TR15 2SQ |
|
|
Registered number: 05174747 |
