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REGISTERED NUMBER: 13444346 (England and Wales)










Mary Bamber Developments Limited

Unaudited Financial Statements

for the Year Ended 31 October 2022






Mary Bamber Developments Limited (Registered number: 13444346)






Contents of the Financial Statements
for the year ended 31 October 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mary Bamber Developments Limited

Company Information
for the year ended 31 October 2022







DIRECTORS: Mr M T Parry
Mr H Vaughan





REGISTERED OFFICE: Brenig House Parc Busnes Cartrefi Conwy
Mochdre
Colwyn Bay
United Kingdom
LL28 5EF





REGISTERED NUMBER: 13444346 (England and Wales)





ACCOUNTANTS: Salisbury & Company
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

Mary Bamber Developments Limited (Registered number: 13444346)

Balance Sheet
31 October 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,196 -

CURRENT ASSETS
Stocks 7,251,659 3,598,453
Debtors 5 100 65,633
Cash at bank 1,488 3,309
7,253,247 3,667,395
CREDITORS
Amounts falling due within one year 6 3,134,217 520,373
NET CURRENT ASSETS 4,119,030 3,147,022
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,145,226

3,147,022

CREDITORS
Amounts falling due after more than one year 7 (5,060,828 ) (3,227,595 )

PROVISIONS FOR LIABILITIES (4,977 ) -
NET LIABILITIES (920,579 ) (80,573 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (920,679 ) (80,673 )
(920,579 ) (80,573 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 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.

Mary Bamber Developments Limited (Registered number: 13444346)

Balance Sheet - continued
31 October 2022


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 October 2023 and were signed on its behalf by:





Mr M T Parry - Director


Mary Bamber Developments Limited (Registered number: 13444346)

Notes to the Financial Statements
for the year ended 31 October 2022

1. STATUTORY INFORMATION

Mary Bamber Developments 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.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Turnover represents the total of completed house sales and development sales.

Turnover is recognised to the extent that it is probable that the future economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - 10% on cost

Stocks
Stocks are valued at the lower of cost and estimated net realisable value. Net realisable value is based on estimated selling price less additional costs to complete and disposal.

Work in progress is valued at cost incurred to date in respect of development costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Going concern
The sale of developments currently recognised in stock will facilitate the settlement of the funding arrangements currently recognised. At the time of approving the financial statements, the directors are confident that such sales will take place within the foreseeable future. Accordingly the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Mary Bamber Developments Limited (Registered number: 13444346)

Notes to the Financial Statements - continued
for the year ended 31 October 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 28,320
At 31 October 2022 28,320
DEPRECIATION
Charge for year 2,124
At 31 October 2022 2,124
NET BOOK VALUE
At 31 October 2022 26,196

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 100 65,633

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 23,536 140,003
Amounts owed to related parties 2,130,312 256,684
Taxation and social security 16,342 -
Other creditors 964,027 123,686
3,134,217 520,373

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 5,060,828 3,227,595

The bank loans and overdrafts are secured by a fixed and floating charge over the assets of the company.

8. RELATED PARTY DISCLOSURES

At the balance sheet date amounts totalling £3,645 (2021: £300) were owed to Seel Plant Hire Limited a company in which M Parry and H Vaughan have a controlling interest.

At the balance sheet date amounts totalling £2,126,667 (2021: £256,384) were owed to Brenig Construction Limited a company in which M Parry and H Vaughan have a controlling interest.