Meyer Homes Limited
Unaudited Financial Statements
For the year ended 31 December 2023
Pages for Filing with Registrar
Company Registration No. 09815900 (England and Wales)
Meyer Homes Limited
Company Information
Directors
L Lin
G P Andrianopoulos
D Vanagtmael
Company number
09815900
Registered office
6th Floor
9 Appold Street
London
EC2A 2AP
Meyer Homes Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 6
Meyer Homes Limited
Statement Of Financial Position
As at 31 December 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Property, plant and equipment
3
784
1,410
Current assets
Trade and other receivables
4
356,538
128,750
Cash and cash equivalents
26,409
53,568
382,947
182,318
Payables: amounts falling due within one year
5
(383,711)
(183,708)
Net current liabilities
(764)
(1,390)
Total assets less current liabilities
20
20
Equity
Called up share capital
6
20
20
The directors of the company have elected not to include a copy of the income statement 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.
The notes on pages 2 - 6 form part of the financial statements.
The financial statements were approved by the board of directors and authorised for issue on 30 October 2024 and are signed on its behalf by:
D Vanagtmael
Director
Company Registration No. 09815900
Meyer Homes Limited
Notes to the Financial Statements
For the year ended 31 December 2023
Page 2
1
Accounting policies
Company information
Meyer Homes Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, EC2A 2AP.
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.
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 under the historical cost convention. The principal accounting policies adopted are set out below.
The company has applied the exemptions available as a small company under FRS 102 in respect of the cash flow statement and related notes.
1.2
Going concern
The company made a trueloss of £nil (2022: £nil) in the year and had net assets totalling £20 (2022: £20) at the balance sheet date. The directors will continue to meet the liabilities of the company as they fall due.
1.3
Revenue
Revenue is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the customer. Revenue from the development management fees is recognised when the service has been delivered to the customer.
1.4
Property, plant and equipment
Property, plant and equipment 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 basis:
Computer equipment
3 years straight line
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 the Income Statement.
1.5
Cash and cash equivalents
Cash and cash equivalents comprise cash in hand and at bank, recognised initially at fair value then subsequently measured at amortised cost.
1.6
Financial instruments
The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic financial instruments measured at fair value.
Meyer Homes Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
Page 3
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.
1.7
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.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Meyer Homes Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
Page 4
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons employed by the company during the year was:
Year
Year
ended
ended
2023
2022
Number
Number
Total
1
1
3
Property, plant and equipment
Computer equipment
£
Cost
At 1 January 2023 and 31 December 2023
3,746
Depreciation and impairment
At 1 January 2023
2,336
Depreciation charged in the year
626
At 31 December 2023
2,962
Carrying amount
At 31 December 2023
784
At 31 December 2022
1,410
Meyer Homes Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 5
4
Trade and other receivables
2023
2022
Amounts falling due within one year:
£
£
Amounts due from affiliated undertakings
318,375
61,252
Prepayments and accrued income
38,163
67,498
356,538
128,750
5
Payables: amounts falling due within one year
2023
2022
£
£
Trade payables
1,958
2,171
Amounts due to affiliated undertakings
324,421
121,304
Corporation tax
4,696
5,422
Other taxation and social security
15,789
15,664
Other payables
212
1,707
Accruals and deferred income
36,635
37,440
383,711
183,708
6
Share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
20 Ordinary shares of £1 each
20
20
20
20
7
Related party transactions
Amounts receivable/(payable)
2023
2022
£
£
MB New Barnet Limited
(24)
(24)
MB St Albans Limited
106,125
(69,179)
MB Woolwich Phase 4 Limited
106,125
30,627
MB Woolwich Phase 3 Limited
106,125
30,627
MARK Capital Management Limited
(324,397)
(52,100)
Meyer Homes Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
7
Related party transactions
(Continued)
Page 6
Transactions for the year
Year
Year
ended
ended
2023
2022
£
£
MB St Albans Limited
111,755
133,421
MB Woolwich Phase 4 Limited
111,755
133,421
MB Woolwich Phase 3 Limited
111,755
133,421
335,265
400,263
The transactions above and balances outstanding relate to revenue generated from development management fees.
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