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Registered number: 13787894
Maxwell Homes Winchester Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Coastal Accountants Ltd
Chartered Certified Accountants
Office 2 Unit 3 Mitchell Point
Ensign Way, Hamble
Southampton
SO31 4RF
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13787894
31 December 2023 31 December 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 165,719 118,011
165,719 118,011
CURRENT ASSETS
Stocks 5 1,808,392 561,505
Debtors 6 43,653 43,377
Cash at bank and in hand 6,904 23,899
1,858,949 628,781
Creditors: Amounts Falling Due Within One Year 7 (2,481,915 ) (796,804 )
NET CURRENT ASSETS (LIABILITIES) (622,966 ) (168,023 )
TOTAL ASSETS LESS CURRENT LIABILITIES (457,247 ) (50,012 )
Creditors: Amounts Falling Due After More Than One Year 8 (63,022 ) (29,205 )
NET LIABILITIES (520,269 ) (79,217 )
CAPITAL AND RESERVES
Called up share capital 11 1 1
Profit and Loss Account (520,270 ) (79,218 )
SHAREHOLDERS' FUNDS (520,269) (79,217)
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Christopher Southcott
Director
25/03/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Maxwell Homes Winchester Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13787894 . The registered office is The Gables Calcot Mount Business Park, Calcot Lane, Curdridge, Southampton, Hampshire, SO32 2BN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% straight line
Plant & Machinery 15% straight line
Motor Vehicles 10% straight line
Computer Equipment 20% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 4)
4 4
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4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 1,200 134,790 - 2,949 138,939
Additions - 5,939 68,965 1,900 76,804
As at 31 December 2023 1,200 140,729 68,965 4,849 215,743
Depreciation
As at 1 January 2023 120 20,218 - 590 20,928
Provided during the period 120 21,109 6,897 970 29,096
As at 31 December 2023 240 41,327 6,897 1,560 50,024
Net Book Value
As at 31 December 2023 960 99,402 62,068 3,289 165,719
As at 1 January 2023 1,080 114,572 - 2,359 118,011
5. Stocks
31 December 2023 31 December 2022
£ £
Work in progress 1,808,392 561,505
6. Debtors
31 December 2023 31 December 2022
£ £
Due within one year
Trade debtors 359 -
Prepayments and accrued income 4,561 2,500
Other debtors 10,735 730
VAT 27,998 40,147
43,653 43,377
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Page 5
7. Creditors: Amounts Falling Due Within One Year
31 December 2023 31 December 2022
£ £
Net obligations under finance lease and hire purchase contracts 28,616 18,210
Trade creditors 148,593 48,661
Bank loans and overdrafts 1,552,277 3,168
Other taxes and social security 6,302 6,794
Net wages - 528
Other creditors 280,277 432,983
Accruals and deferred income 1,848 2,045
Director's loan account 464,002 284,415
2,481,915 796,804
8. Creditors: Amounts Falling Due After More Than One Year
31 December 2023 31 December 2022
£ £
Net obligations under finance lease and hire purchase contracts 63,022 29,205
63,022 29,205
9. Secured Creditors
Of the creditors the following amounts are secured.
31 December 2023 31 December 2022
£ £
Net obligations under finance lease and hire purchase contracts 91,638 -
Bank loans and overdrafts 156,087 -
10. Obligations Under Finance Leases and Hire Purchase
31 December 2023 31 December 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 28,616 18,210
Later than one year and not later than five years 63,022 29,205
91,638 47,415
91,638 47,415
11. Share Capital
31 December 2023 31 December 2022
£ £
Allotted, Called up and fully paid 1 1
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