Chevin Homes Limited - Accounts to registrar (filleted) - small 23.2.5
Chevin Homes Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 December 2022 |
| for |
| Chevin Homes Limited |
| Chevin Homes Limited (Registered number: 04433029) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Chevin Homes Limited |
| Company Information |
| for the Year Ended 31 December 2022 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditors |
| Chartered Accountants |
| The Mills |
| Canal Street |
| Derby |
| DE1 2RJ |
| Chevin Homes Limited (Registered number: 04433029) |
| Balance Sheet |
| 31 December 2022 |
| 2022 | 2021 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Stocks |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
6 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Chevin Homes Limited (Registered number: 04433029) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2022 |
| 1. | STATUTORY INFORMATION |
| Chevin Homes Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The Company is not considered to be a going concern owing to the cessation of trade. The trading activity transferred to another subsidiary of the Group, Chevin Homes (Derby) Limited. The directors do not anticipate adjustments to the reported values arising from this strategic decision. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Turnover |
| Turnover represents the invoiced value of completed property sales, excluding value added tax. Turnover is recognised on the completion date of the property sale. |
| Stocks and work in progress |
| Stocks are valued at the lower of cost and net realisable value. Cost represents the purchase price in addition to any legal fees and refurbishment costs. Net realisable value is based on the estimated selling price less further costs expected to be incurred in completion and disposal. |
| At each reporting date, stock and work in progress is assessed for expected losses. If a loss is expected then the loss is recognised in full immediately in the Profit and Loss Account. |
| Deferred tax |
| Deferred tax arises from timing differences between taxable total profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. |
| A deferred tax asset is recognised only when it is more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing differences and losses can be deducted. |
| Provision is made at current rates for taxation deferred in respect of all material timing differences, including provisions made for potential tax arising on assets which have been revalued. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2021 - NIL). |
| Chevin Homes Limited (Registered number: 04433029) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2022 |
| 4. | DEBTORS |
| 2022 | 2021 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Taxation recoverable |
| Amounts falling due after more than one year: |
| Deferred tax | 12,300 | 13,100 |
| Aggregate amounts |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Other loans |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Other creditors |
| Accrued expenses |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Other loans - 1-2 years |
| Other loans - 2-5 years |
| 7. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2022 | 2021 |
| £ | £ |
| Within one year |
| Between one and five years |
| Chevin Homes Limited (Registered number: 04433029) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2022 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Other loans |
| Bank loans | 275,716 | 335,000 |
| Bank loans are personally indemnified by the directors. |
| Other loans in this accounting period relate to CBILS which are subject to the HM Government Guarantee. Other loans in the previous period were secured against the trading stock of the company. |
| 9. | PROVISIONS FOR LIABILITIES |
| 2022 | 2021 |
| £ | £ |
| Other provisions | - | 94,284 |
| Other |
| provisions |
| £ |
| Balance at 1 January 2022 |
| Release of provision | (94,284 | ) |
| Balance at 31 December 2022 |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 11. | ULTIMATE CONTROLLING PARTY |
| The ultimate parent company is Chevin Group Holdings Limited, a company incorporated in England and Wales, which shares the registered office as detailed on page 1. Copies of the consolidated financial statements are available from Companies House. |