Mapleton Homes Limited
Annual Report and Unaudited Financial Statements
For the year ended 31 December 2023
Pages for Filing with Registrar
Company Registration No. 04896271 (England and Wales)
Mapleton Homes Limited
Balance Sheet
As at 31 December 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
71,425
74,996
Investments
4
50
50
71,475
75,046
Current assets
Debtors
1,501
727
Cash at bank and in hand
244
2,589
1,745
3,316
Creditors: amounts falling due within one year
5
(2,017,098)
(1,923,161)
Net current liabilities
(2,015,353)
(1,919,845)
Net liabilities
(1,943,878)
(1,844,799)
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss reserves
(1,944,878)
(1,845,799)
Total equity
(1,943,878)
(1,844,799)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mapleton Homes Limited
Balance Sheet (Continued)
As at 31 December 2023
Page 2
The financial statements were approved by the board of directors and authorised for issue on 11 October 2024 and are signed on its behalf by:
A Manley
Director
Company Registration No. 04896271
Mapleton Homes Limited
Notes to the Financial Statements
For the year ended 31 December 2023
Page 3
1
Accounting policies
Company information
Mapleton Homes Limited is a private company limited by shares incorporated in England and Wales. The registered office is Betchworth House, 57-65 Station Road, Redhill, Surrey, RH1 1DL.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company continues to trade through short term funding made available by trueone of the directors who is also a shareholder. The director is confident that this support will continue. As a result the directors believe that the company will be able to continue in business and meet its liabilities as they fall due for a period of at least twelve months from the date of approval of the financial statements
1.3
Turnover
Turnover represents the income from sale of properties and consultancy services to third parties and is only recognised on exchange of contracts where there is a binding commitment on both parties and/or when the services have been delivered.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Leasehold
4% on cost
Fixtures, fittings & equipment
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Mapleton Homes Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
Page 4
1.6
Cash and cash equivalents
Cash and cash equivalents include cash in hand, balances held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company only has financial instruments classified as basic and measured at amortised cost. The company has no financial instruments that are classified as 'other' or financial instruments measured at fair value.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Taxation
The company has estimated losses of £1,778,038 (2022 - £1,682,530) available for carry forward against future trading profits.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as an expense as they fall due. Any unpaid short - term benefits for services rendered during the period are recognised as a liability.
1.11
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was: 2 (2022: 2).
Mapleton Homes Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 5
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023 and 31 December 2023
89,280
10,348
99,628
Depreciation and impairment
At 1 January 2023
14,284
10,348
24,632
Depreciation charged in the year
3,571
3,571
At 31 December 2023
17,855
10,348
28,203
Carrying amount
At 31 December 2023
71,425
71,425
At 31 December 2022
74,996
74,996
4
Fixed asset investments
2023
2022
£
£
Investments
50
50
Movements in fixed asset investments
Shares in group undertakings and participating interests
£
Cost or valuation
At 1 January 2023 & 31 December 2023
50
Carrying amount
At 31 December 2023
50
At 31 December 2022
50
Mapleton Homes Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 6
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
6,269
104
Taxation and social security
11,246
6,050
Other creditors
1,995,233
1,912,657
Accruals and deferred income
4,350
4,350
2,017,098
1,923,161
6
Retirement benefit schemes
2023
2022
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
5,472
15,392
The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
1,000
1,000
1,000
1,000
8
Related party transactions
During the year £80,000 (2022: £80,000) was paid to the directors as remuneration for their services.
Included within other creditors at the year end are amounts owed to Mr A Manley of £1,516,493 (2022: £1,500,842).
Also included within other creditors at the year end are amounts owed to Hale Oak Homes Ltd of £477,602 (2022: £410,677), a company in which Mapleton Homes Limited holds a 50% interest.