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REGISTERED NUMBER: 07724606 (England and Wales)















Maycroft Homes Limited

Unaudited Financial Statements for the Year Ended 31 August 2023






Maycroft Homes Limited (Registered number: 07724606)






Contents of the Financial Statements
for the year ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Maycroft Homes Limited

Company Information
for the year ended 31 August 2023







DIRECTORS: S Reeves- Parry
M A Costello





SECRETARY: S Reeves- Parry





REGISTERED OFFICE: One New Street
Wells
Somerset
BA5 2LA





REGISTERED NUMBER: 07724606 (England and Wales)





ACCOUNTANTS: Webb & Co Ltd
Accountants and Business Advisers
One New Street
Wells
Somerset
BA5 2LA

Maycroft Homes Limited (Registered number: 07724606)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 7,642 10,186

CURRENT ASSETS
Stocks 979,261 1,142,596
Debtors 4 35,347 33,307
Cash at bank 104,017 42,173
1,118,625 1,218,076
CREDITORS
Amounts falling due within one year 5 812,295 1,195,775
NET CURRENT ASSETS 306,330 22,301
TOTAL ASSETS LESS CURRENT
LIABILITIES

313,972

32,487

CREDITORS
Amounts falling due after more than one
year

6

(17,500

)

(27,500

)

PROVISIONS FOR LIABILITIES (1,911 ) (2,547 )
NET ASSETS 294,561 2,440

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 294,559 2,438
294,561 2,440

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

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

Maycroft Homes Limited (Registered number: 07724606)

Balance Sheet - continued
31 August 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2023 and were signed on its behalf by:





S Reeves- Parry - Director


Maycroft Homes Limited (Registered number: 07724606)

Notes to the Financial Statements
for the year ended 31 August 2023

1. 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.
Plant and machinery - 33.3% on cost and 10% on cost
Motor vehicles - 20% on cost

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 Profit and Loss Account, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

2. EMPLOYEES AND DIRECTORS

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

Maycroft Homes Limited (Registered number: 07724606)

Notes to the Financial Statements - continued
for the year ended 31 August 2023

3. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 September 2022
and 31 August 2023 18,934 38,776 57,710
DEPRECIATION
At 1 September 2022 8,748 38,776 47,524
Charge for year 2,544 - 2,544
At 31 August 2023 11,292 38,776 50,068
NET BOOK VALUE
At 31 August 2023 7,642 - 7,642
At 31 August 2022 10,186 - 10,186

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,047 -
Other debtors 31,300 33,307
35,347 33,307

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 562,085 1,047,228
Hire purchase contracts - 6,462
Trade creditors 2,150 28,510
Taxation and social security 218,560 91,615
Other creditors 29,500 21,960
812,295 1,195,775

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 17,500 27,500

Maycroft Homes Limited (Registered number: 07724606)

Notes to the Financial Statements - continued
for the year ended 31 August 2023

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts - 6,462
Bank loans 552,085 857,228
552,085 863,690

The bank loans are secured by a fixed and floating charge, dated 23 March 2023, over the property and land at The Glade, Common Road, Headley. Thatcham.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:


Number:

Class:
Nominal
Value:

2023


2022
£ p £ p
2 Ordinary £1.00 - 2.00
198 Ordinary £0.01 1.98 -
1 Ordinary A £0.01 0.01 -
1 Ordinary B £0.01 0.01 -
2.00 2.00

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2023 and 31 August 2022:

2023 2022
£    £   
S Reeves- Parry
Balance outstanding at start of year - -
Amounts advanced 8,969 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,969 -

M A Costello
Balance outstanding at start of year - -
Amounts advanced 8,969 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,969 -

The directors' loans were repaid post year end.