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REGISTERED NUMBER: 08422276 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

MADDISONS RESIDENTIAL LTD

MADDISONS RESIDENTIAL LTD (REGISTERED NUMBER: 08422276)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


MADDISONS RESIDENTIAL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Mrs D J Richards
J Richards





REGISTERED OFFICE: 18 The Pantiles
TUNBRIDGE WELLS
Kent
TN2 5TN





REGISTERED NUMBER: 08422276 (England and Wales)





ACCOUNTANTS: Wells Associates
Ground Floor Oakhurst House
77 Mount Ephraim
Tunbridge Wells
Kent
TN4 8BS

MADDISONS RESIDENTIAL LTD (REGISTERED NUMBER: 08422276)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 5,324 5,849

CURRENT ASSETS
Debtors 5 232,736 277,387
Cash at bank and in hand 724,696 629,712
957,432 907,099
CREDITORS
Amounts falling due within one year 6 (179,063 ) (153,846 )
NET CURRENT ASSETS 778,369 753,253
TOTAL ASSETS LESS CURRENT
LIABILITIES

783,693

759,102

PROVISIONS FOR LIABILITIES (1,012 ) (1,111 )
NET ASSETS 782,681 757,991

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 782,680 757,990
SHAREHOLDERS' FUNDS 782,681 757,991

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2024 and were signed on its behalf by:





Mrs D J Richards - Director


MADDISONS RESIDENTIAL LTD (REGISTERED NUMBER: 08422276)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Maddisons Residential Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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
Revenue 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.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33.33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 12 ) .

MADDISONS RESIDENTIAL LTD (REGISTERED NUMBER: 08422276)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023 9,530 11,729 21,259
Additions 3,277 - 3,277
At 29 February 2024 12,807 11,729 24,536
DEPRECIATION
At 1 March 2023 8,326 7,084 15,410
Charge for year 1,120 2,682 3,802
At 29 February 2024 9,446 9,766 19,212
NET BOOK VALUE
At 29 February 2024 3,361 1,963 5,324
At 28 February 2023 1,204 4,645 5,849

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 36,382 59,067
Other debtors 196,354 218,320
232,736 277,387

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 22,029 12,011
Taxation and social security 115,449 131,003
Other creditors 41,585 10,832
179,063 153,846

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

For the year under review the company provided a loan to Mr & Mrs Richards as follows: 2024 - £191,722 (2023 - £213,621).

The loan is repayable on demand and interest is charged at H M Revenue & Customs rate of 2.5% at all times the loan balance exceeds £10,000. The loan was repaid on 16 August 2023.