Shrewsbury Homes (N1) Limited 30/11/2022 iXBRL

SHREWSBURY HOMES (N1) LIMITED - Company Information

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Company registration number: 09314807

SHREWSBURY HOMES (N1) LIMITED

30 November 2022

HEYWOODS

Chartered Accountants

Countrywide House

Knights Way

Shrewsbury

Shropshire

SY1 3AB

SHREWSBURY HOMES (N1) LIMITED

Contents

Directors and other information

Accountants report

Statement of financial position

Statement of changes in equity

Notes to the financial statements

SHREWSBURY HOMES (N1) LIMITED

DIRECTORS AND OTHER INFORMATION


	Director	Mr J M Morris


	Company number	09314807


	Registered office	Countrywide House
		Knights Way
		Shrewsbury
		Shropshire
		SY1 3AB


	Business address	Black Lion Court
		Pulverbatch
		Shrewsbury
		Shropshire
		SY5 8EA


	Accountants	Heywoods
		Countrywide House
		Knights Way
		Shrewsbury
		Shropshire
		SY1 3AB

SHREWSBURY HOMES (N1) LIMITED

CHARTERED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE

UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SHREWSBURY HOMES (N1) LIMITED

YEAR ENDED 30 NOVEMBER 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Shrewsbury Homes (N1) Limited for the year ended 30 November 2022 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the director of Shrewsbury Homes (N1) Limited, as a body, in accordance with the terms of our engagement letter dated 12 May 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Shrewsbury Homes (N1) Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Shrewsbury Homes (N1) Limited and its director as a body for our work or for this report.

It is your duty to ensure that Shrewsbury Homes (N1) Limited 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 Shrewsbury Homes (N1) Limited. You consider that Shrewsbury Homes (N1) Limited 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 Shrewsbury Homes (N1) Limited. 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.

Heywoods

Chartered Accountants

Countrywide House

Knights Way

Shrewsbury

Shropshire

SY1 3AB

13 April 2023

SHREWSBURY HOMES (N1) LIMITED

STATEMENT OF FINANCIAL POSITION

30 NOVEMBER 2022

		2022		2021
	Note	£	£	£	£

Fixed assets
Tangible assets	5	183,768		146,070
		_______		_______
			183,768		146,070

Current assets
Stock and Work-in-Progress		3,026,667		4,080,469
Debtors	6	641,715		823,344
Cash at bank and in hand		1,617,839		1,453,053
		_______		_______
		5,286,221		6,356,866
Creditors: amounts falling due
within one year	7	( 3,579,609)		( 4,733,824)
		_______		_______
Net current assets			1,706,612		1,623,042
			_______		_______
Total assets less current liabilities			1,890,380		1,769,112

Creditors: amounts falling due
after more than one year	8		( 26,994)		-

Provisions for liabilities			( 39,522)		( 27,417)

			_______		_______
Net assets			1,823,864		1,741,695
			_______		_______

Capital and reserves
Called up share capital			26		26
Profit and loss account			1,823,838		1,741,669
			_______		_______
Shareholder funds			1,823,864		1,741,695
			_______		_______

For the year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 13 April 2023 , and are signed on behalf of the board by:

Mr J M Morris

Director

Company registration number: 09314807

SHREWSBURY HOMES (N1) LIMITED

STATEMENT OF CHANGES IN EQUITY

YEAR ENDED 30 NOVEMBER 2022

	Called up share capital	Profit and loss account	Total
	£	£	£


At 1 December 2020	26	1,704,352	1,704,378

Profit for the year		233,317	233,317
	_______	_______	_______
Total comprehensive income for the year	-	233,317	233,317

Dividends paid and payable		( 196,000)	( 196,000)
	_______	_______	_______
Total investments by and distributions to owners	-	( 196,000)	( 196,000)

	_______	_______	_______
At 30 November 2021 and 1 December 2021	26	1,741,670	1,741,696

Profit for the year		222,168	222,168
	_______	_______	_______
Total comprehensive income for the year	-	222,168	222,168

Dividends paid and payable		( 140,000)	( 140,000)
	_______	_______	_______
Total investments by and distributions to owners	-	( 140,000)	( 140,000)

	_______	_______	_______
At 30 November 2022	26	1,823,838	1,823,864
	_______	_______	_______

SHREWSBURY HOMES (N1) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 NOVEMBER 2022

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Countrywide House, Knights Way, Shrewsbury, Shropshire, SY1 3AB.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the value of the consideration received or receivable for services supplied, net of discounts and Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	15 %	reducing balance
Fittings fixtures and equipment	-	15 %	reducing balance
Motor vehicles	-	25 %	reducing balance

Construction contracts

Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2021: 6 ).

5. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 1 December 2021	37,381	13,617	132,387	183,385
Additions	1,600	1,362	76,315	79,277
Disposals	-	-	( 13,234)	( 13,234)
	_______	_______	_______	_______
At 30 November 2022	38,981	14,979	195,468	249,428
	_______	_______	_______	_______
Depreciation
At 1 December 2021	13,427	2,450	21,438	37,315
Charge for the year	3,593	1,739	31,362	36,694
Disposals	-	-	( 8,349)	( 8,349)
	_______	_______	_______	_______
At 30 November 2022	17,020	4,189	44,451	65,660
	_______	_______	_______	_______
Carrying amount
At 30 November 2022	21,961	10,790	151,017	183,768
	_______	_______	_______	_______
At 30 November 2021	23,954	11,167	110,949	146,070
	_______	_______	_______	_______

6. Debtors

	2022	2021
	£	£
Trade debtors	185,712	373,787
Other debtors	456,003	449,557
	_______	_______
	641,715	823,344
	_______	_______

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	73,384	47,014
Trade creditors	283,237	520,238
Corporation tax	33,275	16,652
Social security and other taxes	12,174	12,288
Other creditors	3,177,539	4,137,632
	_______	_______
	3,579,609	4,733,824
	_______	_______

There are registered charges on the 27 July 2020 in respect of a fixed and floating charge in favour of Nat West Bank Plc 19 October 2020 and in respect of land purchase agreement.

8. Creditors: amounts falling due after more than one year

	2022	2021
	£	£
Other creditors	26,994	-
	_______	_______

9. Directors advances, credits and guarantees

	During the year the director entered into the following advances and credits with the company:

2022
		Balance brought forward	Advances /(credits) to the director	Balance o/standing
		£	£	£
	Mr J M Morris	( 105,263)	103,819	( 1,444)
		_______	_______	_______

2021
		Balance brought forward	Advances /(credits) to the director	Balance o/standing
		£	£	£
	Mr J M Morris	( 4,756)	( 100,507)	( 105,263)
		_______	_______	_______