A & B Homes Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 01680522 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

A & B HOMES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Bernardez

Mrs D Bernardez

SECRETARY:

Mrs D Bernardez

REGISTERED OFFICE:

The Milepost

Chilworth Road

Chilworth

Southampton

SO16 7JS

REGISTERED NUMBER:

01680522 (England and Wales)

ACCOUNTANTS:

Carter & Coley

Chartered Accountants

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

FIXED ASSETS

Tangible assets

4

7,411

7,809

Investments

5

2

2

7,413

7,811

CURRENT ASSETS

Stocks

6

3,626,745

4,238,939

Debtors

7

161,784

126,851

Cash at bank and in hand

3,213,212

2,147,971

7,001,741

6,513,761

CREDITORS

Amounts falling due within one year

8

3,359,797

3,221,862

NET CURRENT ASSETS

3,641,944

3,291,899

TOTAL ASSETS LESS CURRENT LIABILITIES

3,649,357

3,299,710

PROVISIONS FOR LIABILITIES

1,853

1,326

NET ASSETS

3,647,504

3,298,384

CAPITAL AND RESERVES

Called up share capital

404,250

404,250

Retained earnings

3,243,254

2,894,134

SHAREHOLDERS' FUNDS

3,647,504

3,298,384

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 23 October 2023 and were signed on its behalf by:

J Bernardez - Director

Mrs D Bernardez - Director

1.	STATUTORY INFORMATION

A & B 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.

Turnover

Turnover represents work done during the year, exclusive of Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Investments in associates

Investments in associate undertakings are recognised at 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 Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2022

71,011

49,748

17,010

137,769

Additions

1,100

-

-

1,100

At 31 March 2023

72,111

49,748

17,010

138,869

DEPRECIATION

At 1 April 2022

66,943

47,616

15,401

129,960

Charge for year

775

320

403

1,498

At 31 March 2023

67,718

47,936

15,804

131,458

NET BOOK VALUE

At 31 March 2023

4,393

1,812

1,206

7,411

At 31 March 2022

4,068

2,132

1,609

7,809

5.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 April 2022

and 31 March 2023

2

NET BOOK VALUE

At 31 March 2023

2

At 31 March 2022

2

6.

STOCKS

2023

2022

£

£

Work-in-progress

3,626,745

4,238,939

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

96,576

61,799

Amounts recoverable on contract

38,915

41,286

Other debtors

26,293

23,766

161,784

126,851

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

109,884

175,999

Amounts owed to participating interests

2,820,522

2,716,513

Taxation and social security

137,843

150,017

Other creditors

291,548

179,333

3,359,797

3,221,862

9.	RELATED PARTY DISCLOSURES

TRANSACTIONS WITH ASSOCIATED COMPANIES

A non interest bearing loan on which no terms of repayment have been agreed. The amount due to an associated company at the balance sheet date amounted to £2,820,522 (2022 - £2,716,513).

TRANSACTIONS WITH DIRECTORS

A non interest bearing loan on which no terms of repayment have been agreed. The amount due to the directors at the balance sheet date amounted to £2,719 (2022 - £76,277).