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REGISTERED NUMBER: 06561531 (England and Wales)












Financial Statements

for the Year Ended 31 March 2023

for

Mclaren Sports Homes Ltd

Mclaren Sports Homes Ltd (Registered number: 06561531)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mclaren Sports Homes Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: K Lewis
C A Lewis





REGISTERED OFFICE: Archwood House
46/48 Long Street
Middleton
Manchester
M24 6UQ





REGISTERED NUMBER: 06561531 (England and Wales)





ACCOUNTANTS: Archwood Accountants
Archwood House
46-48 Long Street
Middleton
Manchester
M24 6UQ

Mclaren Sports Homes Ltd (Registered number: 06561531)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,061 11,114

CURRENT ASSETS
Stocks 5 150,000 220,000
Debtors 6 57,537 111,687
Cash at bank 30,382 10,008
237,919 341,695
CREDITORS
Amounts falling due within one year 7 82,924 238,289
NET CURRENT ASSETS 154,995 103,406
TOTAL ASSETS LESS CURRENT
LIABILITIES

176,056

114,520

CREDITORS
Amounts falling due after more than one year 8 (48,811 ) (64,524 )

PROVISIONS FOR LIABILITIES (4,465 ) -
NET ASSETS 122,780 49,996

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 122,778 49,994
SHAREHOLDERS' FUNDS 122,780 49,996

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.

Mclaren Sports Homes Ltd (Registered number: 06561531)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2023 and were signed on its behalf by:





K Lewis - Director


Mclaren Sports Homes Ltd (Registered number: 06561531)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Mclaren Sports 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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Mclaren Sports Homes Ltd (Registered number: 06561531)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 320 31,832 2,158 34,310
Additions - 16,895 - 16,895
At 31 March 2023 320 48,727 2,158 51,205
DEPRECIATION
At 1 April 2022 274 21,760 1,162 23,196
Charge for year 7 6,742 199 6,948
At 31 March 2023 281 28,502 1,361 30,144
NET BOOK VALUE
At 31 March 2023 39 20,225 797 21,061
At 31 March 2022 46 10,072 996 11,114

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 16,895
At 31 March 2023 16,895
DEPRECIATION
Charge for year 4,224
At 31 March 2023 4,224
NET BOOK VALUE
At 31 March 2023 12,671

Mclaren Sports Homes Ltd (Registered number: 06561531)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. STOCKS
31.3.23 31.3.22
£    £   
Stock and work in progress 150,000 220,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 57,537 111,687

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts (see note 9) 19,964 46,533
Hire purchase contracts 2,865 -
Trade creditors 47,774 49,346
Tax 13 48
Social security and other taxes 7,803 6,951
VAT 442 32,736
Other creditors 2,358 2,466
Directors' current accounts 305 736
Accruals and deferred income 1,400 99,473
82,924 238,289

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans (see note 9) 41,225 64,524
Hire purchase contracts 7,586 -
48,811 64,524

9. LOANS

An analysis of the maturity of loans is given below:

31.3.23 31.3.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 25,421
Bank loans 19,964 21,112
19,964 46,533

Amounts falling due between one and two years:
Bank loans - 1-2 years 15,643 20,865

Mclaren Sports Homes Ltd (Registered number: 06561531)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. LOANS - continued
31.3.23 31.3.22
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 25,582 43,659

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Hire purchase contracts 10,451 -