Registered number
04902257
Marstone Homes Ltd
Filleted Accounts
30 September 2023
Marstone Homes Ltd
Registered number: 04902257
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Current assets
Stocks 450,000 450,000
Cash at bank and in hand 8,096 20,577
458,096 470,577
Creditors: amounts falling due within one year 4 (114,175) (147,815)
Net current assets 343,921 322,762
Net assets 343,921 322,762
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 342,921 321,762
Shareholders' funds 343,921 322,762
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M V Ganatra
Director
Approved by the board on 30 October 2023
Marstone Homes Ltd
Notes to the Accounts
for the year ended 30 September 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from rents and from the rendering of services.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2022 7,644
At 30 September 2023 7,644
Depreciation
At 1 October 2022 7,644
At 30 September 2023 7,644
Net book value
At 30 September 2023 -
4 Creditors: amounts falling due within one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 105,738 138,738
Taxation and social security costs 6,457 5,850
Other creditors 1,980 3,227
114,175 147,815
5 Related party transactions
At the end of the year, the company owed £105,738 (2022: £138,738) to Braycote Ltd, in which Mr M Ganatra is a company director.
6 Other information
Marstone Homes Ltd is a private company limited by shares and incorporated in England. Its registered office is:
14 Elgood Avenue
Northwood,
Middlesex
HA6 3QJ
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