NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
Macbuild Homes Ltd is a private company limited by shares and incorporated in England and Wales. The address of the registered office is disclosed on the company information page.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
As at 31 January 2024 the company had net liabilities of £187,875 (2023 - £111,118). The director has a reasonable expectation that the company had adequate resources to continue operational existence for the foreseeable future, due to the loans from group and associated companies. For this reason the director continues to adopt the going concern basis of accounting in preparing the annual financial statements.
Revenue consists of services provided to other entities and property sales and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount or they are recognised in the profit or loss in the year in which they are incurred.
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 other third parties, loans to related parties and investments in ordinary shares.
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The average monthly number of employees, including the director, during the year was 1 (2023 - 2).
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