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REGISTERED NUMBER: 04193643 (England and Wales)





















MAYLEIGH HOUSE HOLDINGS LIMITED

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

AUDITED

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






MAYLEIGH HOUSE HOLDINGS LIMITED (REGISTERED NUMBER: 04193643)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Group Strategic Report 2

Report of the Director 3 to 4

Report of the Independent Auditors 5 to 7

Consolidated Statement of Comprehensive Income 8

Consolidated Balance Sheet 9

Company Balance Sheet 10

Consolidated Statement of Changes in Equity 11

Company Statement of Changes in Equity 12

Consolidated Cash Flow Statement 13

Notes to the Consolidated Cash Flow Statement 14

Notes to the Consolidated Financial Statements 15 to 26


MAYLEIGH HOUSE HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: A F Robinson





REGISTERED OFFICE: Mayleigh House
Orchard Hill
Little Billing
Northampton
NN3 9AD





REGISTERED NUMBER: 04193643 (England and Wales)





AUDITORS: Phipps Henson McAllister
Chartered Accountants
and Statutory Auditors
22-24 Harborough Road
Kingsthorpe
Northampton
NN2 7AZ

MAYLEIGH HOUSE HOLDINGS LIMITED (REGISTERED NUMBER: 04193643)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2023


The director presents his strategic report of the company and the group for the year ended 31 March 2023.

REVIEW OF BUSINESS
We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties we face.

We consider that our key performance indicators are those that communicate the financial performance of the group as a whole, these being turnover, profits and return on capital.

The group saw an increase in turnover of 27.6% during the year.

The group made a profit for the year after tax of £1,244,073 (2022 - £109,668). This includes exceptional profit before tax of £1,272,129 realised on the sale of property.

The return on capital employed was 4.4% (2022 - 8.2%) Return on capital is calculated as group operating profit divided by capital employed.

The directors are satisfied with the results for the year and are confident in the group's strategy going forward. The group continues to seek to develop into new niche markets.

Detailed business reviews for each of the subsidiary companies can be found in the financial statements of the individual companies.

CASH FLOW RISK
The group closely monitors and manages its cash flow. Cash flow forecasts are prepared with the objective of alerting the directors to potential future risks. It is the group's policy to ensure that adequate cash funds are available at all times to meet all outgoings.

CREDIT RISK
Credit risk is the financial exposure generated by the potential default of third parties in fulfilling their obligations. Credit risk arises for the group if it is unable to recover sums due from customers. The group sets maximum levels of credit tolerance for its customers and regularly reviews them to mitigate this risk.

CLAIMS RISK
The group closely monitors its claims ratio for all types of policy sold on an ongoing basis and have a great deal of historical claims data available to assist with this monitoring process ensuring the risk of a deterioration in the claims ratio is kept to a minimum.

ON BEHALF OF THE BOARD:





A F Robinson - Director


22 December 2023

MAYLEIGH HOUSE HOLDINGS LIMITED (REGISTERED NUMBER: 04193643)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 MARCH 2023


The director presents his report with the financial statements of the company and the group for the year ended 31 March 2023.

PRINCIPAL ACTIVITIES
The principal activities of the group in the year under review were those of the provision of a nationwide and continental motor vehicle recovery service and insuring the same.

DIVIDENDS
No dividends will be distributed for the year ended 31 March 2023.

DIRECTOR
A F Robinson held office during the whole of the period from 1 April 2022 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed
and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

MAYLEIGH HOUSE HOLDINGS LIMITED (REGISTERED NUMBER: 04193643)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 MARCH 2023


AUDITORS
The auditors, Phipps Henson McAllister, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





A F Robinson - Director


22 December 2023

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MAYLEIGH HOUSE HOLDINGS LIMITED


Opinion
We have audited the financial statements of Mayleigh House Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2023 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MAYLEIGH HOUSE HOLDINGS LIMITED


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MAYLEIGH HOUSE HOLDINGS LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- We obtained an understanding of the legal and regulatory frameworks applicable to the Company and the
sector in which they operate. We determined that the following laws and regulations were most significant:
the Companies Act 2006, UK corporate taxation laws and regulations of the Financial Conduct Authority and
the Prudential Regulation Authority with regards to the certain Group Company's operating licence and
regulatory solvency requirements.
- We obtained an understanding of how the Company is complying with those legal and regulatory frameworks
by making inquiries to the management. We corroborated our inquiries through our review of board minutes
and other papers.
- We assessed the susceptibility of the Company's financial statements to material misstatement, including how
fraud might occur. Audit procedures performed by the engagement team included:
- identifying and assessing the design effectiveness of controls management has in place to prevent and
detect fraud;
- understanding how those charged with governance considered and addressed the potential for override
of controls or other inappropriate influence over the financial reporting process;
- challenging assumptions and judgments made by management in its significant accounting estimates;
- identifying and testing journal entries, in particular any journal entries posted with unusual account
combinations; and
- assessing the extent of compliance with the relevant laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Stuart Armstrong FCCA (Senior Statutory Auditor)
for and on behalf of Phipps Henson McAllister
Chartered Accountants
and Statutory Auditors
22-24 Harborough Road
Kingsthorpe
Northampton
NN2 7AZ

22 December 2023

MAYLEIGH HOUSE HOLDINGS LIMITED (REGISTERED NUMBER: 04193643)

CONSOLIDATED
STATEMENT OF COMPREHENSIVE
INCOME
FOR THE YEAR ENDED 31 MARCH 2023

2023 2022
Notes £    £   

TURNOVER 1,924,291 1,508,597

Cost of sales 942,866 628,738
GROSS PROFIT 981,425 879,859

Administrative expenses 859,231 787,930
122,194 91,929

Other operating income 10,000 50,638
OPERATING PROFIT 132,194 142,567

Profit on sale of property 4 1,272,129 -
1,404,323 142,567

Interest receivable and similar income 1,881 39
1,406,204 142,606

Interest payable and similar expenses 5 3,000 3,000
PROFIT BEFORE TAXATION 6 1,403,204 139,606

Tax on profit 7 159,131 29,938
PROFIT FOR THE FINANCIAL YEAR 1,244,073 109,668

MAYLEIGH HOUSE HOLDINGS LIMITED (REGISTERED NUMBER: 04193643)

CONSOLIDATED BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 - 573,097
Investments 11
Shares in related undertakings 3,327 3,327
Investment property 12 33,000 414,252
36,327 990,676

CURRENT ASSETS
Debtors 13 702,969 558,348
Cash at bank and in hand 3,333,262 841,928
4,036,231 1,400,276
CREDITORS
Amounts falling due within one year 14 1,080,703 643,693
NET CURRENT ASSETS 2,955,528 756,583
TOTAL ASSETS LESS CURRENT LIABILITIES 2,991,855 1,747,259

PROVISIONS FOR LIABILITIES 16 8,250 7,728
NET ASSETS 2,983,605 1,739,531

CAPITAL AND RESERVES
Called up share capital 17 650,960 650,960
Investment property revaluation reserve 18 32,999 32,999
Retained earnings 18 2,299,646 1,055,572
SHAREHOLDERS' FUNDS 2,983,605 1,739,531

The financial statements were approved by the director and authorised for issue on 22 December 2023 and were signed by:





A F Robinson - Director


MAYLEIGH HOUSE HOLDINGS LIMITED (REGISTERED NUMBER: 04193643)

COMPANY BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 - 562,047
Investments 11 1,905,520 1,905,520
Investment property 12 - -
1,905,520 2,467,567

CURRENT ASSETS
Debtors 13 1,832 35,083
Cash at bank 719,065 48,849
720,897 83,932
CREDITORS
Amounts falling due within one year 14 1,813,209 2,193,642
NET CURRENT LIABILITIES (1,092,312 ) (2,109,710 )
TOTAL ASSETS LESS CURRENT LIABILITIES 813,208 357,857

CAPITAL AND RESERVES
Called up share capital 17 650,960 650,960
Retained earnings 18 162,248 (293,103 )
SHAREHOLDERS' FUNDS 813,208 357,857

Company's profit for the financial year 455,351 1,763

The financial statements were approved by the director and authorised for issue on 22 December 2023 and were signed by:





A F Robinson - Director


MAYLEIGH HOUSE HOLDINGS LIMITED (REGISTERED NUMBER: 04193643)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023

Investment
Called up property
share Retained revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 April 2021 650,960 945,904 32,999 1,629,863

Changes in equity
Total comprehensive income - 109,668 - 109,668
Balance at 31 March 2022 650,960 1,055,572 32,999 1,739,531

Changes in equity
Total comprehensive income - 1,244,073 - 1,244,073
Balance at 31 March 2023 650,960 2,299,645 32,999 2,983,604

MAYLEIGH HOUSE HOLDINGS LIMITED (REGISTERED NUMBER: 04193643)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2021 650,960 (294,866 ) 356,094

Changes in equity
Total comprehensive income - 1,763 1,763
Balance at 31 March 2022 650,960 (293,103 ) 357,857

Changes in equity
Total comprehensive income - 455,351 455,351
Balance at 31 March 2023 650,960 162,248 813,208

MAYLEIGH HOUSE HOLDINGS LIMITED (REGISTERED NUMBER: 04193643)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 472,816 239,289
Interest paid (3,000 ) (3,000 )
Tax paid (58,377 ) (38,999 )
Net cash from operating activities 411,439 197,290

Cash flows from investing activities
Sale of tangible fixed assets - 1
Disposal of premises 2,215,427 -
Repayment of associate loan 6,000 -
Interest received 1,881 39
Net cash from investing activities 2,223,308 40

Cash flows from financing activities
Loan repayments in year (84,250 ) (88,978 )
Repayment of director loan (59,163 ) -
Net cash from financing activities (143,413 ) (88,978 )

Increase in cash and cash equivalents 2,491,334 108,352
Cash and cash equivalents at beginning of
year

2

841,928

733,576

Cash and cash equivalents at end of year 2 3,333,262 841,928

MAYLEIGH HOUSE HOLDINGS LIMITED (REGISTERED NUMBER: 04193643)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2023


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2023 2022
£    £   
Profit before taxation 1,403,204 139,606
Depreciation charges 11,052 56,741
Profit on disposal of premises (1,272,129 ) -
Finance costs 3,000 3,000
Finance income (1,881 ) (39 )
143,246 199,308
Increase in trade and other debtors (150,621 ) (7,655 )
Increase in trade and other creditors 480,191 47,636
Cash generated from operations 472,816 239,289

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2023
31/3/23 1/4/22
£    £   
Cash and cash equivalents 3,333,262 841,928
Year ended 31 March 2022
31/3/22 1/4/21
£    £   
Cash and cash equivalents 841,928 733,576


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/22 Cash flow At 31/3/23
£    £    £   
Net cash
Cash at bank and in hand 841,928 2,491,334 3,333,262
841,928 2,491,334 3,333,262
Debt
Debts falling due within 1 year (184,250 ) 84,250 (100,000 )
(184,250 ) 84,250 (100,000 )
Total 657,678 2,575,584 3,233,262

MAYLEIGH HOUSE HOLDINGS LIMITED (REGISTERED NUMBER: 04193643)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Mayleigh House Holdings 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 General Information page.

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


Mayleigh House Holdings Limited is a company set up to be the parent company of the group.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The director has reviewed liquidity requirements across the Group and is confident that there is sufficient flexibility such that it continues to be appropriate to prepare the accounts on a going concern basis.

Basis of consolidation
The consolidated financial statements incorporate the financial statements of the company and all group undertakings, together with the group's share of the net assets and results of associated undertakings. These are adjusted, where appropriate, to conform to group accounting policies. Acquisitions are accounted for under the acquisition method. The results of companies acquired or disposed of are included in the profit and loss account after or up to the date that control passes respectively. As a consolidated profit and loss account is published, a separate profit and loss account for the parent company is omitted from the group financial statements by virtue of section 408 of the Companies Act 2006.

MAYLEIGH HOUSE HOLDINGS LIMITED (REGISTERED NUMBER: 04193643)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Turnover
The turnover shown in the income statement represents premiums for providing a car recovery and breakdown service. These amounts are accounted for on a receivable basis, the premiums allocated to the period for which cover is provided.

Creditors include a provision for unearned premiums which represents the proportion of premiums received up to the balance sheet date which relate to future accounting periods,calculated by reference to the number of days for which cover extends into future accounting periods.

Insurance Contracts

Turnover includes amounts derived from the provision of insurance contracts relating to vehicle recovery and breakdown services.

Cost of sales includes the cost of settling claims and claims handling fees. Claims paid are calculated in accordance with the terms of each insurance agreement.

Provision is made for the estimated cost of claims incurred but not settled at the balance sheet date including the cost of claims incurred but not yet reported.

Goodwill
Negative goodwill has arisen on the consolidation of the subsidiaries and represents the excess of the fair value of the group share of intangible assets acquired over the cost of investment. In accordance with FRS 102 negative goodwill is being written back in the profit and loss account. The period over which the goodwill is being amortised or written back is 20 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Straight line over 50 years
Plant and machinery - 25% on reducing balance, 20% on reducing balance and 10% on reducing balance
Fixtures and fittings - 33% on reducing balance, 25% on reducing balance and 20% on reducing balance
Motor vehicles - 25% on reducing balance, 25% on cost and 20% on reducing balance

Investments in associates
Investments in associate undertakings are recognised at cost.

Investments
Investments in subsidiaries are measured at cost less accumulated impairment.

Investment property
Investment property is shown at fair value. No depreciation is provided. Changes in fair value are recognised in the income statement.


MAYLEIGH HOUSE HOLDINGS LIMITED (REGISTERED NUMBER: 04193643)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities. Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

MAYLEIGH HOUSE HOLDINGS LIMITED (REGISTERED NUMBER: 04193643)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Critical accounting judgements and estimation uncertainty
To be able to prepare financial statements in accordance with FRS102, Mayleigh House Holdings Limited must make certain estimates and judgements that have an impact on the policies and the amounts reported in the annual accounts. The estimates and judgement are based on historical experiences and other factors including expectations of future events that are believed to be reasonable at the time such estimates and judgements are made. Actual experience may vary from these estimates.
The estimates and assumptions which have the most significant risk of causing a material adjustment to the carrying amounts of assets and liabilities are discussed below:

Tangible Assets
Mayleigh House Holdings Limited determines the estimated useful lives, residual values and related depreciation charges for its fixed assets with reference to the estimated periods that the group intends to derive future economic benefits from the use of these assets. Management will revise the depreciation charge where useful lives or residual values are materially different from those previously estimated. Actual economic lives may differ from estimated useful lives and actual residual values may differ from estimated useful values. Periodic review could result in a change in depreciable lives and residual values and therefore depreciation expenses in the future periods.

Investment Properties
The fair values of investment properties are reviewed annually, but there is an inevitable degree of judgement involved in that each property is unique and value can only ultimately be reliably tested in the market itself.

Trade debtors
In determining the recoverability of trade debtors, management provide for any trade debtors that they believe not to be recoverable.

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 574,386 485,294
Social security costs 45,712 33,582
Other pension costs 32,955 31,042
653,053 549,918

The average number of employees during the year was as follows:
2023 2022

Administrative staff 34 33

In the opinion of the directors key management personnel are considered to be the directors only.

2023 2022
£    £   
Director's remuneration 43,155 41,100
Director's pension contributions to money purchase schemes 1,295 1,233

MAYLEIGH HOUSE HOLDINGS LIMITED (REGISTERED NUMBER: 04193643)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


3. EMPLOYEES AND DIRECTORS - continued

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

4. EXCEPTIONAL ITEMS
2023 2022
£    £   
Profit on sale of property 1,272,129 -

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Other interest 3,000 3,000

6. PROFIT BEFORE TAXATION

The profit is stated after charging:

2023 2022
£    £   
Other operating leases 10,000 -
Depreciation - owned assets 11,050 56,741
Auditors' remuneration 26,670 26,619
Foreign exchange differences 5,395 134

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 158,609 37,067

Deferred tax 522 (7,129 )
Tax on profit 159,131 29,938

UK corporation tax has been charged at 19 % (2022 - 19 %).

MAYLEIGH HOUSE HOLDINGS LIMITED (REGISTERED NUMBER: 04193643)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 1,403,204 139,606
Profit multiplied by the standard rate of corporation tax in the UK of 19 %
(2022 - 19 %)

266,609

26,525

Effects of:
Capital allowances in excess of depreciation (108,161 ) -
Depreciation in excess of capital allowances - 10,542
Adjustments to tax charge in respect of previous periods 161 -
Deferred tax movement 522 (7,129 )
Total tax charge 159,131 29,938

8. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.


9. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 (50,200 )
AMORTISATION
At 1 April 2022
and 31 March 2023 (50,200 )
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

MAYLEIGH HOUSE HOLDINGS LIMITED (REGISTERED NUMBER: 04193643)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


10. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 859,825 128,790 242,898 27,002 1,258,515
Disposals (859,825 ) (128,790 ) (242,898 ) (27,002 ) (1,258,515 )
At 31 March 2023 - - - - -
DEPRECIATION
At 1 April 2022 301,141 128,316 230,523 25,438 685,418
Charge for year - 474 9,012 1,564 11,050
Eliminated on disposal (301,141 ) (128,790 ) (239,535 ) (27,002 ) (696,468 )
At 31 March 2023 - - - - -
NET BOOK VALUE
At 31 March 2023 - - - - -
At 31 March 2022 558,684 474 12,375 1,564 573,097

Company
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 April 2022 859,825 30,045 889,870
Disposals (859,825 ) (30,045 ) (889,870 )
At 31 March 2023 - - -
DEPRECIATION
At 1 April 2022 301,141 26,682 327,823
Eliminated on disposal (301,141 ) (26,682 ) (327,823 )
At 31 March 2023 - - -
NET BOOK VALUE
At 31 March 2023 - - -
At 31 March 2022 558,684 3,363 562,047

MAYLEIGH HOUSE HOLDINGS LIMITED (REGISTERED NUMBER: 04193643)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


11. FIXED ASSET INVESTMENTS

Group
Shares in
related
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 3,327
NET BOOK VALUE
At 31 March 2023 3,327
At 31 March 2022 3,327
Company
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 1,905,520
NET BOOK VALUE
At 31 March 2023 1,905,520
At 31 March 2022 1,905,520

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Autohome Limited
Registered office: Mayleigh House, Orchard Hill, Little Billing Northampton, NN3 9AD
Nature of business: Motor vehicle recovery & insurance intermediary
%
Class of shares: holding
Ordinary 100.00

Autohome Insurance Limited
Registered office: Mayleigh House, Orchard Hill, Little Billing Northampton, NN3 9AD
Nature of business: Insurer of motor vehicle recovery service
%
Class of shares: holding
Ordinary 100.00

MAYLEIGH HOUSE HOLDINGS LIMITED (REGISTERED NUMBER: 04193643)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


11. FIXED ASSET INVESTMENTS - continued

Autohome International Limited
Registered office: Mayleigh House, Orchard Hill, Little Billing Northampton, NN3 9AD
Nature of business: Motor Vehicle recovery
%
Class of shares: holding
Ordinary 100.00

Mayleigh House Investments Ltd
Registered office: Mayleigh House, Orchard Hill, Little Billing Northampton, NN3 9AD
Nature of business: Property investments
%
Class of shares: holding
Ordinary 100.00


12. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 April 2022 414,252
Disposals (381,252 )
At 31 March 2023 33,000
NET BOOK VALUE
At 31 March 2023 33,000
At 31 March 2022 414,252

If the Investment properties had not been revalued they would have been included at the following historical cost:


2023 2022
£ £
1 381,523
Cost

The Investment property was valued at £33,000 on an open market existing use basis in July 2010 by Richard Greener Estate Agents. The directors consider that the fair value of the property at 31 March 2023 is not materially different to this.

No depreciation has been provided on investment property as required by Companies Act 2006. This is in order to comply with FRS102 and to show a true and fair view.

MAYLEIGH HOUSE HOLDINGS LIMITED (REGISTERED NUMBER: 04193643)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade debtors 85,619 116,877 - 1,603
Amounts owed by group undertakings - - - 1,597
Amounts owed by participating interests - 6,000 - -
Other debtors 4,863 125 1,046 -
VAT - - 786 -
Prepayments and accrued income 612,487 435,346 - 31,883
702,969 558,348 1,832 35,083

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Other loans (see note 15) 100,000 184,250 100,000 184,250
Trade creditors 51,701 40,874 3,371 563
Provision for unearned premiums 97,982 85,267 - -
Amounts owed to group undertakings - - 1,682,237 1,920,529
Corporation tax 149,384 49,152 2,151 3,334
Social security and other taxes 34,333 24,672 - -
VAT 10,681 5,556 - 1,803
Other creditors 6,702 - - -
Directors' current accounts - 59,163 - 59,163
Accruals and deferred income 629,920 194,759 25,450 24,000
1,080,703 643,693 1,813,209 2,193,642

15. LOANS

An analysis of the maturity of loans is given below:

Group Company
2023 2022 2023 2022
£    £    £    £   
Amounts falling due within one year or on demand:
Other loans 100,000 184,250 100,000 184,250

16. PROVISIONS FOR LIABILITIES

Group
2023 2022
£    £   
Deferred tax 8,250 7,728

MAYLEIGH HOUSE HOLDINGS LIMITED (REGISTERED NUMBER: 04193643)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


16. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1 April 2022 7,728
Provided during year 1,650
Accelerated capital allowances (1,128 )
Balance at 31 March 2023 8,250

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
Value: £ £
65,096 (2022: 65,096) A Ordinary £10 650,960 650,960


18. RESERVES

Group
Investment
property
Retained revaluation
earnings reserve Totals
£    £    £   

At 1 April 2022 1,055,573 32,999 1,088,572
Profit for the year 1,244,073 1,244,073
At 31 March 2023 2,299,646 32,999 2,332,645

Company
Retained
earnings
£   

At 1 April 2022 (293,103 )
Profit for the year 455,351
At 31 March 2023 162,248

Retained Earnings
Retained earnings includes all current and prior year period retained profits and losses.

Investment Property Revaluation Reserve
Investment property revaluation reserve includes the cumulative increase in the fair value of properties at the date of reclassification in excess of any previous impaired losses.

MAYLEIGH HOUSE HOLDINGS LIMITED (REGISTERED NUMBER: 04193643)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


19. CONTINGENT LIABILITIES

There exists a cross guarantee and Debenture held by Barclays Bank Plc, between Mayleigh House Holdings Limited and Autohome Limited.

Barclays Bank Plc holds a legal charge over land at Kettering Road North, Northampton dated 16th November 2005.

20. RELATED PARTY DISCLOSURES

A F Robinson, a director, is also a director of Autohome Magyarorszag, a company incorporated in Hungary. Included within debtors are loans totalling £nil (2022 - £6,000) due from this company.

Transactions with subsidiary companies have not been disclosed because these consolidated accounts which include those companies are publicly available.

The company and the group had a loan from Couriergram Nationwide Telegram Service Limited of £100,000 (2022 - £100,000), A F Robinson is a director and shareholder of this company. Interest of £3,000 (2022 - £3,000) was paid on this loan during the year. There are no specific repayment terms and the loan is included in Creditors: amounts falling due within one year.

During the year the Group made sales of £584,746 (2022 - £578,678) and purchases of £343,992 (2022 - £301,664) with companies of which A F Robinson is a director. Debtors includes £41,902 (2022 - £49,052) owing from these companies, Creditors includes £29,848 (2022 - £29,669) owed to these companies.

The company and the group are under the control of A F Robinson.