IRIS Accounts Production v23.2.0.158 04725033 Board of Directors Board of Directors 1.5.22 30.4.23 30.4.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh047250332022-04-30047250332023-04-30047250332022-05-012023-04-30047250332021-04-30047250332021-05-012022-04-30047250332022-04-3004725033ns10:Originalns15:EnglandWales2022-05-012023-04-3004725033ns14:PoundSterlingns10:Original2022-05-012023-04-3004725033ns10:Originalns10:Director12022-05-012023-04-3004725033ns10:Original2022-05-012023-04-3004725033ns10:Originalns10:Director22022-05-012023-04-3004725033ns10:Original2023-04-3004725033ns10:Originalns10:PrivateLimitedCompanyLtd2022-05-012023-04-3004725033ns10:Originalns10:SmallEntities2022-05-012023-04-3004725033ns10:Originalns10:AuditExempt-NoAccountantsReport2022-05-012023-04-3004725033ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-05-012023-04-3004725033ns10:SmallCompaniesRegimeForAccountsns10:Original2022-05-012023-04-3004725033ns10:Originalns10:FullAccounts2022-05-012023-04-3004725033ns10:CompanySecretary1ns10:Original2022-05-012023-04-3004725033ns10:Originalns10:RegisteredOffice2022-05-012023-04-3004725033ns10:Original2022-04-3004725033ns10:Originalns5:CurrentFinancialInstruments2023-04-3004725033ns10:Originalns5:CurrentFinancialInstruments2022-04-3004725033ns10:Originalns5:Non-currentFinancialInstruments2023-04-3004725033ns10:Originalns5:Non-currentFinancialInstruments2022-04-3004725033ns5:ShareCapitalns10:Original2023-04-3004725033ns5:ShareCapitalns10:Original2022-04-3004725033ns10:Originalns5:RevaluationReserve2023-04-3004725033ns10:Originalns5:RevaluationReserve2022-04-3004725033ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-04-3004725033ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-04-3004725033ns10:Original2021-05-012022-04-3004725033ns10:Original2022-04-3004725033ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-3004725033ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-04-3004725033ns10:Originalns5:CurrentFinancialInstruments2022-05-012023-04-3004725033ns10:Originalns5:Non-currentFinancialInstruments2022-05-012023-04-30
REGISTERED NUMBER: 04725033 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 April 2023

for

Makewood Homes Limited

Makewood Homes Limited (Registered number: 04725033)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Makewood Homes Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: S Bourke
P Bourke





SECRETARY: S Bourke





REGISTERED OFFICE: Airport House Suite 43 - 45
Purley Way
Croydon
Surrey
United Kingdom
CR0 0XZ





REGISTERED NUMBER: 04725033 (England and Wales)





ACCOUNTANTS: Ledger Sparks Limited
Airport House
Suite 43-45
Purley Way
Croydon
CR0 0XZ

Makewood Homes Limited (Registered number: 04725033)

Balance Sheet
30 April 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment property 4 1,021,000 996,034

CURRENT ASSETS
Debtors 5 1,050 2,368
Cash at bank 5,994 7,028
7,044 9,396
CREDITORS
Amounts falling due within one year 6 (281,734 ) (288,765 )
NET CURRENT LIABILITIES (274,690 ) (279,369 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

746,310

716,665

CREDITORS
Amounts falling due after more than one
year

7

(587,506

)

(587,506

)

PROVISIONS FOR LIABILITIES (3,033 ) -
NET ASSETS 155,771 129,159

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 8 191,932 170,000
Retained earnings 8 (36,163 ) (40,843 )
155,771 129,159

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Makewood Homes Limited (Registered number: 04725033)

Balance Sheet - continued
30 April 2023


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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2023 and were signed on its behalf by:




S Bourke - Director



P Bourke - Director


Makewood Homes Limited (Registered number: 04725033)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Makewood Homes Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The principal activity of the company continued to be that of buying & selling of own real estate and letting of leased real estate.

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 as modified by the revaluation of certain assets.

TURNOVER
Turnover represents rent receivable on residential properties.

INVESTMENT PROPERTY
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

FINANCIAL INSTRUMENTS
The company only enters into basic financial transactions that result in recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from bank and other third parties, loans to related parties and investments in non-puttable ordinary shares.

TAXATION
The tax expense represents the sum of the tax currently payable and deferred tax.

CURRENT TAX
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

DEFERRED TAX
Deferred tax is recognized in respect of all material timing differences that have originated but not reversed at the balance sheet date.

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 and will continue to support the company financially.

Makewood Homes Limited (Registered number: 04725033)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued

PROVISIONS FOR LIABILITIES
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the statement of comprehensive income in the year that the company becomes aware of the obligation and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in Balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2022 996,034
Revaluations 24,966
At 30 April 2023 1,021,000
NET BOOK VALUE
At 30 April 2023 1,021,000
At 30 April 2022 996,034

Fair value at 30 April 2023 is represented by:
£   
Valuation in 2009 (71,044 )
Valuation in 2021 170,000
Valuation in 2023 24,966
Cost 897,078
1,021,000

Investment property comprises three properties. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 30/04/2023 by the Directors. The valuation was made on an estimate by the Directors.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,050 2,368

The directors consider the carrying value of trade and other receivables approximate to their fair value.

Makewood Homes Limited (Registered number: 04725033)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 1,098 -
Other creditors 280,636 288,765
281,734 288,765

The directors consider the carrying amounts of current liabilities approximate to their fair values .

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 587,506 587,506

The directors consider the carrying amounts of long term liabilities approximate to their fair values.

CHARGES
Mortgage charges at Companies House have been registered by The Mortgage Works (UK) PLC and contains negative pledge for the mortgage taken by company against the properties.

8. RESERVES

PROFIT AND LOSS ACCOUNT
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders.

FAIR VALUE RESERVE
This is a non distributable reserve relating to fair value adjustments to investment properties and deferred tax calculated on fair value adjustments.

9. RELATED PARTY DISCLOSURES

As at the balance sheet date included in other creditors were amounts of £279,579 (2022 - £247,793) due to the directors.