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REGISTERED NUMBER: 00331789 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Maylands Green Estate Co. Limited

Maylands Green Estate Co. Limited (Registered number: 00331789)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Maylands Green Estate Co. Limited

Company Information
for the Year Ended 31 December 2023







Directors: N H Chaplin MRICS
R M Chaplin MRICS





Secretary: A L Kyle





Registered office: 84 Market Place
Romford
Essex
RM1 3JE





Registered number: 00331789 (England and Wales)





Accountants: Pinkham Blair
Chartered Accountants
87a High Street
The Old Town
Hemel Hempstead
Hertfordshire
HP1 3AH

Maylands Green Estate Co. Limited (Registered number: 00331789)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Investments 4 35,001 35,001
Investment property 5 2,164,060 2,163,420
2,199,061 2,198,421

Current assets
Stocks 75,003 75,003
Debtors 6 734,211 683,865
Cash at bank 31,332 56,656
840,546 815,524
Creditors
Amounts falling due within one year 7 1,912,127 1,960,457
Net current liabilities (1,071,581 ) (1,144,933 )
Total assets less current liabilities 1,127,480 1,053,488

Provisions for liabilities 162,968 161,968
Net assets 964,512 891,520

Capital and reserves
Called up share capital 8 75,000 75,000
Share premium 124,900 124,900
Other reserves 50,000 50,000
Retained earnings 714,612 641,620
Shareholders' funds 964,512 891,520

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 directors acknowledge their 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.

Maylands Green Estate Co. Limited (Registered number: 00331789)

Balance Sheet - 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 Board of Directors and authorised for issue on 20 September 2024 and were signed on its behalf by:





N H Chaplin MRICS - Director


Maylands Green Estate Co. Limited (Registered number: 00331789)

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

1. Statutory information

Maylands Green Estate Co. 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents sales of development land and property and rents receivable on investment property. Property sales are recognised when there is an exchange of unconditional contracts. Rental income is recognised in the period to which the rent relates.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks include work in progress and are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost of stock comprises land acquisition, construction, infrastructure and other development expenditure. No interest charges or other overheads are included in stocks.

The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and loans to and from related parties.

Financial assets that are measured at cost and 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 profit or loss.


Maylands Green Estate Co. Limited (Registered number: 00331789)

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

2. Accounting policies - continued
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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 3 (2022 - 3 ) .

4. Fixed asset investments
Shares in
group Other
undertakings investments Totals
£ £ £
Cost
At 1 January 2023
and 31 December 2023 15,001 20,000 35,001
Net book value
At 31 December 2023 15,001 20,000 35,001
At 31 December 2022 15,001 20,000 35,001

Maylands Green Estate Co. Limited (Registered number: 00331789)

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

5. Investment property
Total
£
Fair value
At 1 January 2023 2,163,420
Revaluations 4,000
Impairments (3,360 )
At 31 December 2023 2,164,060
Net book value
At 31 December 2023 2,164,060
At 31 December 2022 2,163,420


6. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 11,651 16,096
Amounts owed by group undertakings 697,429 645,953
Other debtors 25,131 21,816
734,211 683,865

7. Creditors: amounts falling due within one year
2023 2022
£ £
Amounts owed to group undertakings 1,887,599 1,933,922
Taxation and social security 925 987
Other creditors 23,603 25,548
1,912,127 1,960,457

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
75,000 Ordinary £1.00 75,000 75,000

9. Contingent liabilities

The company's assets are subject to a legal charge and debenture in respect of bank loans totalling £2,405,000 held by the group.

Maylands Green Estate Co. Limited (Registered number: 00331789)

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

10. Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£ £
N H Chaplin MRICS
Balance outstanding at start of year 15,000 15,000
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,000 15,000

The loan is interest bearing at HM Revenue & Customs rates and repayable on demand.

11. Related party disclosures

The company owed £18,348 (2022: £18,348) to Togo Homes Limited. N H Chaplin and R M Chaplin are directors of Togo Homes Limited.

12. Ultimate controlling party

The ultimate parent company is Maylands Green Limited, registered in England and Wales. Group accounts are available from Companies House, Cardiff.

Registered Office:
84 Market Place,
Romford,
Essex,
RM1 3JE

13. Non-distributable reserves

Retained earnings comprises a deficit of £269,067 on distributable reserves and a surplus of £983,679 on non-distributable reserves.