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REGISTERED NUMBER: 13806481 (England and Wales)















Unaudited Financial Statements

for the Period 17 December 2021 to 31 December 2022

for

Maxika Homes (Eastbourne) Limited

Maxika Homes (Eastbourne) Limited (Registered number: 13806481)






Contents of the Financial Statements
for the Period 17 December 2021 to 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Maxika Homes (Eastbourne) Limited

Company Information
for the Period 17 December 2021 to 31 December 2022







DIRECTORS: P Smith
B Mordt





REGISTERED OFFICE: Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE





REGISTERED NUMBER: 13806481 (England and Wales)





ACCOUNTANTS: Cartwrights
Chartered Accountants and Business Advisors
Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE

Maxika Homes (Eastbourne) Limited (Registered number: 13806481)

Balance Sheet
31 December 2022

Notes £   
CURRENT ASSETS
Stocks 1,497,698
Debtors 5 100
1,497,798
CREDITORS
Amounts falling due within one year 6 218,494
NET CURRENT ASSETS 1,279,304
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,279,304

CREDITORS
Amounts falling due after more than one year 7 1,375,000
NET LIABILITIES (95,696 )

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings (95,796 )
(95,696 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2022 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.

Maxika Homes (Eastbourne) Limited (Registered number: 13806481)

Balance Sheet - continued
31 December 2022


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2024 and were signed on its behalf by:





P Smith - Director


Maxika Homes (Eastbourne) Limited (Registered number: 13806481)

Notes to the Financial Statements
for the Period 17 December 2021 to 31 December 2022

1. STATUTORY INFORMATION

Maxika Homes (Eastbourne) 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.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the continuing support of the company's directors and shareholders. If the company were unable to continue in existence for the foreseeable future, adjustments would be necessary to reduce the balance sheet values of assets to their recoverable amounts and to reclassify fixed assets as current assets.

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 period 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 period 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

Maxika Homes (Eastbourne) Limited (Registered number: 13806481)

Notes to the Financial Statements - continued
for the Period 17 December 2021 to 31 December 2022

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 100

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 7,519
Other creditors 210,975
218,494

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Other creditors 1,375,000

8. SECURED DEBTS

The following secured debts are included within creditors:

£   
Other loans 1,250,000

Included in other loans is the sum of £1,250,000 secured by a legal charge on the land and buildings held as stock in the books of the company.

9. CONTINGENT LIABILITIES

The company entered into two net profit arrangements as part of the loan agreements signed to secure funding for the purchase and development of land and buildings stock. These arrangements will result in paying out up to 60% of the net profit element on the development project after adjustments for certain finance and trading costs. As this commitment is dependent on events yet to happen it is not possible to reliably estimate the value and therefore no provision is made in these financial statements. The directors believe that the final amount could range between £80,000 and £150,000.

10. RELATED PARTY DISCLOSURES

At the balance sheet the company owed £115,210 to a company under common control.