Buxton Homes Midlands Limited Filleted accounts for Companies House (small and micro)

BUXTON HOMES MIDLANDS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 02390644

Buxton Homes Midlands Limited

Filleted Unaudited Financial Statements

31 July 2020

Buxton Homes Midlands Limited

Statement of Financial Position

31 July 2020

	2020	2019
Note	£	£

Current assets

Debtors	4	18,982	1,365,659
		--------	------------
Net current assets		18,982	1,365,659
		--------	------------
Total assets less current liabilities		18,982	1,365,659
		--------	------------

Capital and reserves

Called up share capital	10,000	10,000
Share premium account	8,982	8,982
Profit and loss account	–	1,346,677
	--------	------------
Shareholders funds	18,982	1,365,659
	--------	------------

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 income and retained earnings has not been delivered.

For the year ending 31 July 2020 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 were approved by the board of directors and authorised for issue on 29 March 2021 , and are signed on behalf of the board by:

Mr S W Buxton

Director

Company registration number: 02390644

Buxton Homes Midlands Limited

Notes to the Financial Statements

Year ended 31 July 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8 Gleneagles Court, Brighton Road, Crawley, West Sussex, RH10 3RU.

2. Statement of compliance

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

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of W & R Buxton Homes Limited which can be obtained from Companies House. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

4. Debtors

	2020	2019
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	18,982	1,365,659
	--------	------------

5. Related party transactions

The company is a wholly owned subsidiary of W & R Buxton Homes Limited and has taken advantage of the exemption available in accordance with the FRS102 not to disclose transactions with W & R Buxton Homes Limited or other wholly owned subsidiaries within the group.

6. Controlling party

The company is a subsidiary of W & R Buxton Homes Limited which is the ultimate parent company incorporated in England and Wales. The largest and smallest group in which the results of the company are consolidated is that of W&R Buxton Homes Limited, incorporated in England and Wales. The consolidated accounts of this company are available to the public and may be obtained from Companies House. No other group accounts include the results of the company. In the opinion of the directors there is no ultimate controlling party.