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REGISTERED NUMBER: 05508903 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Maywood Developments Limited

Maywood Developments Limited (Registered number: 05508903)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Maywood Developments Limited

Company Information
for the Year Ended 30 September 2023







DIRECTOR: S Smallwood





REGISTERED OFFICE: Stanley Farm
Rushton Spencer
Macclesfield
Cheshire
SK11 0RU





REGISTERED NUMBER: 05508903 (England and Wales)





ACCOUNTANTS: Gilligans Limited
Unit 4 Lymedale Business Centre
Hooters Hall Road
Lymedale Business Park
Newcastle under Lyme
Staffordshire
ST5 9QF

Maywood Developments Limited (Registered number: 05508903)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,555 12,726

CURRENT ASSETS
Stocks 462,229 462,229
Debtors 5 984 2,023
Cash at bank 1,276 27,169
464,489 491,421
CREDITORS
Amounts falling due within one year 6 66,655 91,086
NET CURRENT ASSETS 397,834 400,335
TOTAL ASSETS LESS CURRENT
LIABILITIES

408,389

413,061

CREDITORS
Amounts falling due after more than one year 7 413,313 411,821
NET (LIABILITIES)/ASSETS (4,924 ) 1,240

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (4,925 ) 1,239
SHAREHOLDERS' FUNDS (4,924 ) 1,240

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Maywood Developments Limited (Registered number: 05508903)

Balance Sheet - continued
30 September 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 2 April 2024 and were signed by:





S Smallwood - Director


Maywood Developments Limited (Registered number: 05508903)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Maywood Developments 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. 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Maywood Developments Limited (Registered number: 05508903)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 October 2022 11,726 27,881 39,607
Additions 1,348 - 1,348
At 30 September 2023 13,074 27,881 40,955
DEPRECIATION
At 1 October 2022 10,824 16,057 26,881
Charge for year 563 2,956 3,519
At 30 September 2023 11,387 19,013 30,400
NET BOOK VALUE
At 30 September 2023 1,687 8,868 10,555
At 30 September 2022 902 11,824 12,726

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2022
and 30 September 2023 22,181
DEPRECIATION
At 1 October 2022 10,484
Charge for year 2,924
At 30 September 2023 13,408
NET BOOK VALUE
At 30 September 2023 8,773
At 30 September 2022 11,697

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Other debtors 984 2,023

Maywood Developments Limited (Registered number: 05508903)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 19,768 22,278
Hire purchase contracts 2,833 2,833
Taxation and social security - 2,142
Other creditors 44,054 63,833
66,655 91,086

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Bank loans 410,952 406,628
Hire purchase contracts 2,361 5,193
413,313 411,821

8. SECURED DEBTS

The following secured debts are included within creditors:

30.9.23 30.9.22
£    £   
Bank loans 419,277 413,519

9. ULTIMATE CONTROLLING PARTY

The controlling party is S Smallwood.