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Company registration number: 12237999
M & H Developments Lancashire Ltd
Unaudited filleted financial statements
31 October 2023
M & H Developments Lancashire Ltd
Contents
Statement of financial position
Notes to the financial statements
M & H Developments Lancashire Ltd
Statement of financial position
31 October 2023
2023 2022
Note £ £ £ £
Current assets
Stocks 2,305,000 1,310,000
Debtors 5 11,344 82,591
Cash at bank and in hand 22,065 118,976
_______ _______
2,338,409 1,511,567
Creditors: amounts falling due
within one year 6 ( 1,014,767) ( 530,697)
_______ _______
Net current assets 1,323,642 980,870
_______ _______
Total assets less current liabilities 1,323,642 980,870
Creditors: amounts falling due
after more than one year 7 ( 1,178,505) ( 898,505)
_______ _______
Net assets 145,137 82,365
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 145,135 82,363
_______ _______
Shareholders funds 145,137 82,365
_______ _______
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 29 July 2024 , and are signed on behalf of the board by:
Mr Graham Glen Riley Harker
Director
Company registration number: 12237999
M & H Developments Lancashire Ltd
Notes to the financial statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is The Four Columns, Broughton Hall Business Park, Skipton, BD23 3AE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances and revaluation gains on investment properties. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Debtors
2023 2022
£ £
Other debtors 11,344 82,591
_______ _______
6. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 49,986 -
Corporation tax 16,311 18,812
Other creditors 948,470 511,885
_______ _______
1,014,767 530,697
_______ _______
7. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other creditors 1,178,505 898,505
_______ _______