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REGISTERED NUMBER: 10553060 (England and Wales)














Financial Statements for the Year Ended 31 December 2023

for

Mad Homes Limited

Mad Homes Limited (Registered number: 10553060)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Mad Homes Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Ms M S Argueta de Harvey





REGISTERED OFFICE: The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY





REGISTERED NUMBER: 10553060 (England and Wales)





ACCOUNTANTS: Nordens
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY

Mad Homes Limited (Registered number: 10553060)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 285,637 422,473

CURRENT ASSETS
Cash at bank 6,948 6,647

CREDITORS
Amounts falling due within one year 5 111,277 115,358
NET CURRENT LIABILITIES (104,329 ) (108,711 )
TOTAL ASSETS LESS CURRENT LIABILITIES 181,308 313,762

CREDITORS
Amounts falling due after more than one year 6 87,601 87,599
NET ASSETS 93,707 226,163

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 7 103,164 240,000
Retained earnings (9,459 ) (13,839 )
93,707 226,163

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Mad Homes Limited (Registered number: 10553060)

Statement of Financial Position - continued
31 December 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 16 April 2024 and were signed by:





Ms M S Argueta de Harvey - Director


Mad Homes Limited (Registered number: 10553060)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Mad Homes 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 as modified by the revaluation of certain assets.

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.
Computer equipment - 25% 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 statement of financial position date.

Going concern
The financial statements have been prepared on the going concern basis. The director is of the opinion that the shareholders will continue to support it, and provide adequate funding when necessary to enable it to meet its obligations for the foreseeable future, being for a period of at least twelve months from the date of approval of the financial statements.

3. EMPLOYEES AND DIRECTORS

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

Mad Homes Limited (Registered number: 10553060)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Computer
property property equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2023 400,836 21,637 200 422,673
Revaluations (136,836 ) - - (136,836 )
At 31 December 2023 264,000 21,637 200 285,837
DEPRECIATION
At 1 January 2023
and 31 December 2023 - - 200 200
NET BOOK VALUE
At 31 December 2023 264,000 21,637 - 285,637
At 31 December 2022 400,836 21,637 - 422,473

Cost or valuation at 31 December 2023 is represented by:

Improvements
Freehold to Computer
property property equipment Totals
£    £    £    £   
Valuation in 2023 264,000 21,637 200 285,837

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

31.12.23 31.12.22
£    £   
Cost 400,836 160,836

Value of land in freehold land and buildings 400,836 160,836

Properties were valued on an open market basis on 31 December 2023 by Ms M S Argueta de Harvey. .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other creditors 111,277 115,358

Mad Homes Limited (Registered number: 10553060)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Other creditors 87,601 87,599

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 87,601 87,599

Other creditors represents a mortgage for the properties held; this mortgage has a charge over two of the properties.

7. RESERVES
Revaluation
reserve
£   
At 1 January 2023 240,000
Revaluation on property (136,836 )

At 31 December 2023 103,164

8. RELATED PARTY DISCLOSURES

The Director, Ms M S Argueta de Harvey, is considered to be key management personnel.