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REGISTERED NUMBER: 10744849 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

MJD DESIGNER HOMES LTD

MJD DESIGNER HOMES LTD (REGISTERED NUMBER: 10744849)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


MJD DESIGNER HOMES LTD (REGISTERED NUMBER: 10744849)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 59,448 78,121

CURRENT ASSETS
Stocks 5 1,313,482 793,443
Debtors 6 295,648 378,177
Cash at bank 87,536 64,579
1,696,666 1,236,199
CREDITORS
Amounts falling due within one year 7 (288,545 ) (248,789 )
NET CURRENT ASSETS 1,408,121 987,410
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,467,569

1,065,531

CREDITORS
Amounts falling due after more than one year 8 (641,024 ) (88,684 )

PROVISIONS FOR LIABILITIES (11,200 ) -
NET ASSETS 815,345 976,847

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 815,245 976,747
SHAREHOLDERS' FUNDS 815,345 976,847

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MJD DESIGNER HOMES LTD (REGISTERED NUMBER: 10744849)

BALANCE SHEET - continued
30 APRIL 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 November 2024 and were signed on its behalf by:





M R Duncan - Director


MJD DESIGNER HOMES LTD (REGISTERED NUMBER: 10744849)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

MJD Designer Homes Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10744849

Registered office: Suite A
Portland House
60-64 Framfield Road
Uckfield
East Sussex
TN22 5AR

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses

Fixtures and Fittings25% Reducing balance
Motor Vehicles20% Straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


MJD DESIGNER HOMES LTD (REGISTERED NUMBER: 10744849)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 97,934
Additions 1,083
At 30 April 2024 99,017
DEPRECIATION
At 1 May 2023 19,813
Charge for year 19,756
At 30 April 2024 39,569
NET BOOK VALUE
At 30 April 2024 59,448
At 30 April 2023 78,121

5. STOCKS
2024 2023
£    £   
Inventories 1,313,482 793,443

MJD DESIGNER HOMES LTD (REGISTERED NUMBER: 10744849)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by related companies 247,847 234,847
Other debtors 47,801 143,330
295,648 378,177

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,644 10,298
Taxation and social security 72,642 189,030
Other creditors 205,259 49,461
288,545 248,789

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 641,024 25,337
Other creditors - 63,347
641,024 88,684

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 626,179 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 651,668 35,635

The bank loan is secured the property developments held in stock.