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Registration number: 13846541

Markden Homes Construction Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Markden Homes Construction Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Markden Homes Construction Limited

(Registration number: 13846541)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

124,120

22,586

Current assets

 

Debtors

5

1,120,853

460,963

Cash at bank and in hand

 

3,654

26,385

 

1,124,507

487,348

Creditors: Amounts falling due within one year

6

(133,627)

(120,394)

Net current assets

 

990,880

366,954

Total assets less current liabilities

 

1,115,000

389,540

Creditors: Amounts falling due after more than one year

6

(1,006,357)

(350,176)

Provisions for liabilities

(31,030)

-

Net assets

 

77,613

39,364

Capital and reserves

 

Called up share capital

1

1

Retained earnings

77,612

39,363

Shareholders' funds

 

77,613

39,364

 

Markden Homes Construction Limited

(Registration number: 13846541)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 September 2024 and signed on its behalf by:
 

.........................................
Mr M D Ellis
Director

 

Markden Homes Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 2 Block C
14 Hulme Street
Salford
Greater Manchester
M5 4ZG
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Markden Homes Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets less estimated residual value, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

Various rates

Plant & machinery

25% reducing balance

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 3).

 

Markden Homes Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
 £

Total
£

Cost or valuation

At 1 April 2023

23,497

-

23,497

Additions

26,268

93,041

119,309

At 31 March 2024

49,765

93,041

142,806

Depreciation

At 1 April 2023

911

-

911

Charge for the year

8,224

9,551

17,775

At 31 March 2024

9,135

9,551

18,686

Carrying amount

At 31 March 2024

40,630

83,490

124,120

At 31 March 2023

22,586

-

22,586

5

Debtors

2024
£

2023
£

Prepayments

1,080

47,982

Other debtors

1,119,773

412,981

1,120,853

460,963

 

Markden Homes Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Loans and borrowings

17,256

-

Trade creditors

6,109

88,942

Amounts owed to group undertakings

160

-

Taxation and social security

9,720

6,792

Accruals and deferred income

95,637

23,260

Other creditors

4,745

1,400

133,627

120,394

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Loans and borrowings

52,743

-

Owed to group undertakings

953,614

350,176

1,006,357

350,176

Included in loans and borrowings is £69,999 (2023: £Nil) of hire purchase loans which are secured against the assets to which they relate.

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £1,200 (2023 - £Nil).

8

Parent and ultimate parent undertaking

The immediate parent company is Markden Homes Limited. The share capital of Markden Homes is owned equally by Salboy Partnerships Limited and Markden Limited. There is no ultimate controlling party.

Salboy Partnerships is a company incorporated in England and Wales, company number 13626842, registered office Unit 2 Block C, 14 Hulme Street, Salford, Greater Manchester, England, M5 4ZG.

Markden Limited is a company incorporated in England and Wales, company number 13793421, registered office Helliwell Handscomb, 15 Littlethorpe Hill, Hartshead, Liversedge, West Yorkshire, WF15 8AZ.