Company No:
Contents
2023 | 2022 | |||
£ | £ | |||
Current assets | ||||
Stocks |
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Debtors | 3 |
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Cash at bank and in hand |
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960,414 | 959,766 | |||
Creditors: amounts falling due within one year | 4 | (
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Net current liabilities | (26,253) | (23,599) | ||
Total assets less current liabilities | (26,253) | (23,599) | ||
Net liabilities | (
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Capital and reserves | ||||
Called-up share capital | 5 |
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Profit and loss account | (
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Total shareholders' deficit | (
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Director's responsibilities:
The financial statements of Makinson Homes Limited (registered number:
Michael Sheldon
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Makinson Homes Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales, registered number 09228379. The address of the Company's registered office is 2nd Floor, Stratus House, Emperor Way, Exeter, Devon, EX1 3QS, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £26,253. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
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Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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£ | £ | ||
VAT recoverable |
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£ | £ | ||
Amounts owed to director |
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Accruals |
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£ | £ | ||
Allotted, called-up and fully-paid | |||
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Transactions with the entity's director
2023 | 2022 | ||
£ | £ | ||
Amounts owed to director | 984,868 | 980,982 |
During the year the director maintained a current account with the company. At the year end the company owed the director £984,868 (2022: £980,982). No interest is charged on this balance and there is no set date for repayment.