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Company registration number: 07209318
MARA HOMES SHROPSHIRE LIMITED
31 March 2023
HEYWOODS
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
MARA HOMES SHROPSHIRE LIMITED
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
MARA HOMES SHROPSHIRE LIMITED
DIRECTORS AND OTHER INFORMATION
Directors Mr R I Cambray
Mrs M E Cambray
Company number 07209318
Registered office Countrywide House
Knights Way
Shrewsbury
Shropshire
SY3 8DE
Business address New House Farm
Pulverbatch
Shrewsbury
Shropshire
SY3 8DE
Accountants Heywoods
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
MARA HOMES SHROPSHIRE LIMITED
CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MARA HOMES SHROPSHIRE LIMITED
YEAR ENDED 31 MARCH 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mara Homes Shropshire Limited for the year ended 31 March 2023 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Mara Homes Shropshire Limited, as a body, in accordance with the terms of our engagement letter dated 18 May 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Mara Homes Shropshire Limited and state those matters that we have agreed to state to the board of directors of Mara Homes Shropshire Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mara Homes Shropshire Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Mara Homes Shropshire Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Mara Homes Shropshire Limited. You consider that Mara Homes Shropshire Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Mara Homes Shropshire Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Heywoods
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
24 November 2023
MARA HOMES SHROPSHIRE LIMITED
STATEMENT OF FINANCIAL POSITION
31 MARCH 2023
2023 2022
Note £ £ £ £
Current assets
Stock and work-in-progress 219,253 219,253
Cash at bank and in hand 46 196
_______ _______
219,299 219,449
Creditors: amounts falling due
within one year 5 ( 223,359) ( 222,986)
_______ _______
Net current liabilities ( 4,060) ( 3,537)
_______ _______
Total assets less current liabilities ( 4,060) ( 3,537)
_______ _______
Net liabilities ( 4,060) ( 3,537)
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account ( 4,062) ( 3,539)
_______ _______
Shareholders deficit ( 4,060) ( 3,537)
_______ _______
For the year 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 November 2023 , and are signed on behalf of the board by:
Mr R I Cambray
Director
Company registration number: 07209318
MARA HOMES SHROPSHIRE LIMITED
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 31 MARCH 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2021 2 ( 2,986) ( 2,984)
Loss for the year ( 553) ( 553)
_______ _______ _______
Total comprehensive income for the year - ( 553) ( 553)
_______ _______ _______
At 31 March 2022 and 1 April 2022 2 ( 3,539) ( 3,537)
Loss for the year ( 523) ( 523)
_______ _______ _______
Total comprehensive income for the year - ( 523) ( 523)
_______ _______ _______
At 31 March 2023 2 ( 4,062) ( 4,060)
_______ _______ _______
MARA HOMES SHROPSHIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Countrywide House, Knights Way, Shrewsbury, Shropshire, SY3 8DE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company is currently insolvent and is dependant upon the continued support of the directors.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Stocks and work-in-progress
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Construction contracts
Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 74,005 74,005
Other creditors 149,354 148,981
_______ _______
223,359 222,986
_______ _______
6. Directors advances, credits and guarantees
Balance brought forward and o/standing Balance brought forward and o/standing
2023 2022
£ £
Mr R I Cambray 146,983 146,983
_______ _______
The balance on the director's loan account is shown within other creditors.