Beehive Homes (Southwest) Ltd 31/03/2023 iXBRL

Beehive Homes (Southwest) Ltd 31/03/2023 iXBRL

BEEHIVE HOMES (SOUTHWEST) LTD - Company Information

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Company registration number: 12538237
Beehive Homes (Southwest) Ltd
Unaudited filleted financial statements
31 March 2023
Beehive Homes (Southwest) Ltd
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Beehive Homes (Southwest) Ltd
Directors and other information
Directors Mr D A Wills
Mr A Brimacombe
Mr D A Bennetton
Mr J S Battle
Company number 12538237
Registered office 274 Fort Austin Avenue
Plymouth
PL6 5SR
Accountants Wills Accountants Ltd
2 Endeavour House
Parkway Court, Longbridge Road
Plymouth
PL6 9LR
Beehive Homes (Southwest) Ltd
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Investments 5 39,459 9
_______ _______
39,459 9
Current assets
Stocks 350,000 -
Cash at bank and in hand 1,740 -
_______ _______
351,740 -
Creditors: amounts falling due
within one year 6 ( 391,455) ( 25)
_______ _______
Net current liabilities ( 39,715) ( 25)
_______ _______
Total assets less current liabilities ( 256) ( 16)
_______ _______
Net liabilities ( 256) ( 16)
_______ _______
Capital and reserves
Called up share capital 4 4
Profit and loss account ( 260) ( 20)
_______ _______
Shareholders deficit ( 256) ( 16)
_______ _______
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge 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 December 2023 , and are signed on behalf of the board by:
Mr D A Wills
Director
Company registration number: 12538237
Beehive Homes (Southwest) Ltd
Statement of changes in equity
Year ended 31 March 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2021 4 - 4
Loss for the year ( 20) ( 20)
_______ _______ _______
Total comprehensive income for the year - ( 20) ( 20)
_______ _______ _______
At 31 March 2022 and 1 April 2022 4 ( 20) ( 16)
Loss for the year ( 240) ( 240)
_______ _______ _______
Total comprehensive income for the year - ( 240) ( 240)
_______ _______ _______
At 31 March 2023 4 ( 260) ( 256)
_______ _______ _______
Beehive Homes (Southwest) Ltd
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 274 Fort Austin Avenue, Plymouth, PL6 5SR.
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.
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.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
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, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: Nil).
5. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 April 2022 9 9
Additions 39,450 39,450
_______ _______
At 31 March 2023 39,459 39,459
_______ _______
Impairment
At 1 April 2022 and 31 March 2023 - -
_______ _______
Carrying amount
At 31 March 2023 39,459 39,459
_______ _______
At 31 March 2022 9 9
_______ _______
6. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts - 20
Director loan accounts 352,005 5
Other creditors 39,450 -
_______ _______
391,455 25
_______ _______
7. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr D A Wills ( 2) ( 88,000) ( 88,002)
Mr A Brimacombe ( 1) ( 88,000) ( 88,001)
Mr D A Bennetton ( 1) ( 88,000) ( 88,001)
Mr J S Battle ( 1) ( 88,000) ( 88,001)
_______ _______ _______
( 5) ( 352,000) ( 352,005)
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr D A Wills ( 2) - ( 2)
Mr A Brimacombe ( 1) - ( 1)
Mr D A Bennetton ( 1) - ( 1)
Mr J S Battle ( 1) - ( 1)
_______ _______ _______
( 5) - ( 5)
_______ _______ _______
The loans are unsecured, repayable on demand and attract no interest.
8. Going Concern
The company has net liabilities. The company is therefore reliant upon the continued financial support of its directors in order to continue operations. The directors have indicated their willingness to provide financial support to ensure that the company has sufficient resources to meet third parties debts as they fall due. Accordingly the accounts have been prepared on a going concern basis. If the support of the directors were withdrawn, then the going concern basis may not be acceptable. Adjustments may then have to be made to adjust the value of the assets to their recoverable amounts, to provide for any further liabilities that might arise, and to reclassify fixed assets and long term loans as current assets and current liabilities.