Maltings Homes Limited 10659155 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is that of residential property developers. Digita Accounts Production Advanced 6.30.9574.0 true 10659155 2023-02-01 2024-01-31 10659155 2024-01-31 10659155 core:RetainedEarningsAccumulatedLosses 2024-01-31 10659155 core:ShareCapital 2024-01-31 10659155 core:CurrentFinancialInstruments 2024-01-31 10659155 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 10659155 core:Non-currentFinancialInstruments 2024-01-31 10659155 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 10659155 bus:SmallEntities 2023-02-01 2024-01-31 10659155 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 10659155 bus:FilletedAccounts 2023-02-01 2024-01-31 10659155 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 10659155 bus:RegisteredOffice 2023-02-01 2024-01-31 10659155 bus:Director1 2023-02-01 2024-01-31 10659155 bus:Director2 2023-02-01 2024-01-31 10659155 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 10659155 countries:EnglandWales 2023-02-01 2024-01-31 10659155 2022-02-01 2023-01-31 10659155 2023-01-31 10659155 core:RetainedEarningsAccumulatedLosses 2023-01-31 10659155 core:ShareCapital 2023-01-31 10659155 core:CurrentFinancialInstruments 2023-01-31 10659155 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 10659155 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-01-31 10659155 core:Non-currentFinancialInstruments 2023-01-31 10659155 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 10659155 core:PreviouslyStatedAmount 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 10659155

Maltings Homes Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Maltings Homes Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Maltings Homes Limited

(Registration number: 10659155)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

350,552

364,910

Cash at bank and in hand

 

1,142

12

 

351,694

364,922

Creditors: Amounts falling due within one year

5

(246,874)

(242,961)

Total assets less current liabilities

 

104,820

121,961

Creditors: Amounts falling due after more than one year

5

(12,542)

(24,230)

Net assets

 

92,278

97,731

Capital and reserves

 

Called up share capital

2

2

Retained earnings

92,276

97,729

Shareholders' funds

 

92,278

97,731

For the financial year ending 31 January 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 9 October 2024 and signed on its behalf by:
 

 

Maltings Homes Limited

(Registration number: 10659155)
Balance Sheet as at 31 January 2024

.........................................
Mr A Smallwood
Director

.........................................
Mr G R Farmer
Director

 

Maltings Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 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:
1 Doncaster Road
Westwoodside
Doncaster
South Yorkshire
DN9 2ED

These financial statements were authorised for issue by the Board on 9 October 2024.

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.

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.

Tax

The tax expense for the period comprises current 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Maltings Homes Limited

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Maltings Homes Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Debtors

2024
£

2023
£

Other debtors

350,552

364,910

350,552

364,910

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

6

10,000

10,000

Corporation tax

 

23,754

22,981

Other creditors

 

208,710

208,710

Accrued expenses

 

4,410

1,270

 

246,874

242,961

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

6

12,542

24,230

 

Maltings Homes Limited

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

6

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

12,542

24,230