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REGISTERED NUMBER: 03152488 (England and Wales)















MADOC AND RHODES (LEA VILLAGE) LIMITED

Unaudited Financial Statements for the Year Ended 28 February 2023






MADOC AND RHODES (LEA VILLAGE) LIMITED (REGISTERED NUMBER: 03152488)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MADOC AND RHODES (LEA VILLAGE) LIMITED

Company Information
for the Year Ended 28 February 2023







DIRECTOR: Mr P McGrory





REGISTERED OFFICE: 151 Lea Village
Kitts Green
Birmingham
West Midlands
B33 9SJ





REGISTERED NUMBER: 03152488 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

MADOC AND RHODES (LEA VILLAGE) LIMITED (REGISTERED NUMBER: 03152488)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,758 29,360

CURRENT ASSETS
Debtors 5 180,422 117,281
Cash at bank and in hand 341,532 379,077
521,954 496,358
CREDITORS
Amounts falling due within one year 6 279,942 281,209
NET CURRENT ASSETS 242,012 215,149
TOTAL ASSETS LESS CURRENT
LIABILITIES

265,770

244,509

CREDITORS
Amounts falling due after more than one
year

7

(11,965

)

(18,771

)

PROVISIONS FOR LIABILITIES 9 (5,445 ) (5,165 )
NET ASSETS 248,360 220,573

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 11 247,360 219,573
SHAREHOLDERS' FUNDS 248,360 220,573

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MADOC AND RHODES (LEA VILLAGE) LIMITED (REGISTERED NUMBER: 03152488)

Balance Sheet - continued
28 February 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 director and authorised for issue on 27 November 2023 and were signed by:





Mr P McGrory - Director


MADOC AND RHODES (LEA VILLAGE) LIMITED (REGISTERED NUMBER: 03152488)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Madoc and Rhodes (Lea Village) Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents invoiced sales of service.

The turnover results from gross premiums of £2,057,422 (2022 £1,927,136).

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

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.

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.

MADOC AND RHODES (LEA VILLAGE) LIMITED (REGISTERED NUMBER: 03152488)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 March 2022 36,193 74,038 103,324 213,555
Additions - 776 666 1,442
At 28 February 2023 36,193 74,814 103,990 214,997
DEPRECIATION
At 1 March 2022 36,193 58,647 89,355 184,195
Charge for year - 2,346 4,698 7,044
At 28 February 2023 36,193 60,993 94,053 191,239
NET BOOK VALUE
At 28 February 2023 - 13,821 9,937 23,758
At 28 February 2022 - 15,391 13,969 29,360

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 115,710 55,126
Owed by parent undertaking 59,961 59,961
Prepayments 4,751 2,194
180,422 117,281

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,584 9,584
Trade creditors 227,577 223,433
Corporation tax 17,978 16,253
Social security and other taxes 4,221 3,526
Other creditors 326 681
Accrued expenses 20,256 27,732
279,942 281,209

MADOC AND RHODES (LEA VILLAGE) LIMITED (REGISTERED NUMBER: 03152488)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loan 1 - 2 years 9,584 9,584
Bank loan 2 - 5 years 2,381 9,187
11,965 18,771

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 21,549 28,355

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 5,445 5,165

Deferred
tax
£   
Balance at 1 March 2022 5,165
Provided during year 280
Balance at 28 February 2023 5,445

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

11. RESERVES
Retained
earnings
£   

At 1 March 2022 219,573
Profit for the year 59,005
Dividends (31,218 )
At 28 February 2023 247,360

12. OTHER FINANCIAL COMMITMENTS

Total financial commitments in respect of operating leases which are not included on the balance sheet amount to £31,900 (2022 - £49,300).

MADOC AND RHODES (LEA VILLAGE) LIMITED (REGISTERED NUMBER: 03152488)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

13. ULTIMATE CONTROLLING PARTY

The controlling party is Mr P McGrory.