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Registration number: 13846606

Markden Homes SPV 1 Limited

Unaudited Financial Statements

for the Period from 13 January 2022 to 31 March 2023

 

Markden Homes SPV 1 Limited

Contents

Balance Sheet

1

Statement of Changes in Equity

2

Notes to the Unaudited Financial Statements

3 to 5

 

Markden Homes SPV 1 Limited

(Registration number: 13846606)
Balance Sheet as at 31 March 2023

Note

2023
£

Current assets

 

Stocks

4

1,345,713

Debtors

5

16,010

Cash at bank and in hand

 

1,806

 

1,363,529

Creditors: Amounts falling due within one year

6

(177,529)

Total assets less current liabilities

 

1,186,000

Creditors: Amounts falling due after more than one year

6

(1,188,092)

Net liabilities

 

(2,092)

Capital and reserves

 

Called up share capital

1

Profit and loss account

(2,093)

Shareholders' deficit

 

(2,092)

For the financial period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.

Approved and authorised by the Board on 16 November 2023 and signed on its behalf by:
 

.........................................
Ms JE Ismail
Director

 

Markden Homes SPV 1 Limited

Statement of Changes in Equity for the Period from 13 January 2022 to 31 March 2023

Share capital
£

Profit and loss account
£

Total
£

Loss for the period

-

(2,093)

(2,093)

Total comprehensive income

-

(2,093)

(2,093)

New share capital subscribed

1

-

1

At 31 March 2023

1

(2,093)

(2,092)

 

Markden Homes SPV 1 Limited

Notes to the Unaudited Financial Statements for the Period from 13 January 2022 to 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 3 Birchwood One Business Park Dewhurst Road
Birchwood
Warrington
WA3 7GB
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by its parent companies. The directors consider that these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.

 

Markden Homes SPV 1 Limited

Notes to the Unaudited Financial Statements for the Period from 13 January 2022 to 31 March 2023

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 4.

4

Stocks

2023
£

Work in progress

1,345,713

5

Debtors

2023
£

Other debtors

16,010

16,010

 

Markden Homes SPV 1 Limited

Notes to the Unaudited Financial Statements for the Period from 13 January 2022 to 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Accruals and deferred income

177,529

Creditors: amounts falling due after more than one year

2023
£

Due after one year

Owed to group undertakings

1,188,092

Included within Owed to group undertakings is £1,188,092 in relation to a loan which is secured by fixed and floating charge dated 20 February 2023 over all the property or undertaking of the company and the property at Lamphouse Way, Wolstanton.

7

Parent and ultimate parent undertaking

The immediate parent company is Markden Homes North West Limited. The share capital of Markden Homes Northwest is owned equally by Salboy Partnerships Limited and Markden Limited. There is no ultimate controlling party.

Salboy Partnerships is a company incorporated in England and Wales, company number 13626842, registered office 3 Birchwood One Business Park, Dewhurst Road, Birchwood, Warrington, WA3 7PQ.

Markden Limited is a company incorporated in England and Wales, company number 13793421, registered office Helliwell Handscomb, 15 Littlethorpe Hill, Hartshead, Liversedge, West Yorkshire, WF15 8AZ.