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Company No: 09228379 (England and Wales)

MAKINSON HOMES LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2023
Pages for filing with the registrar

MAKINSON HOMES LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2023

Contents

MAKINSON HOMES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 September 2023
MAKINSON HOMES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2023
2023 2022
£ £
Current assets
Stocks 954,019 954,019
Debtors 3 4,170 3,522
Cash at bank and in hand 2,225 2,225
960,414 959,766
Creditors: amounts falling due within one year 4 ( 986,667) ( 983,365)
Net current liabilities (26,253) (23,599)
Total assets less current liabilities (26,253) (23,599)
Net liabilities ( 26,253) ( 23,599)
Capital and reserves
Called-up share capital 5 100 100
Profit and loss account ( 26,353 ) ( 23,699 )
Total shareholders' deficit ( 26,253) ( 23,599)

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Makinson Homes Limited (registered number: 09228379) were approved and authorised for issue by the Director on 29 July 2024. They were signed on its behalf by:

Michael Sheldon
Director
MAKINSON HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
MAKINSON HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
1. Accounting policies

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.

General information and basis of accounting

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 £.

Going concern

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.

Impairment of assets

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Debtors

2023 2022
£ £
VAT recoverable 4,170 3,522

4. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to director 984,868 980,982
Accruals 1,799 2,383
986,667 983,365

5. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

6. Related party transactions

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.