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REGISTERED NUMBER: 03152488 (England and Wales)















MADOC AND RHODES (LEA VILLAGE) LIMITED

Unaudited Financial Statements for the Year Ended 28 February 2024






MADOC AND RHODES (LEA VILLAGE) LIMITED (REGISTERED NUMBER: 03152488)






Contents of the Financial Statements
for the Year Ended 28 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MADOC AND RHODES (LEA VILLAGE) LIMITED

Company Information
for the Year Ended 28 February 2024







DIRECTOR: Mr P McGrory





REGISTERED OFFICE: 151 Lea Village
Kitts Green
Birmingham
West Midlands
B33 9SJ





REGISTERED NUMBER: 03152488 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

MADOC AND RHODES (LEA VILLAGE) LIMITED (REGISTERED NUMBER: 03152488)

Balance Sheet
28 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,688 23,758

CURRENT ASSETS
Debtors 5 206,180 180,422
Cash at bank and in hand 367,742 341,532
573,922 521,954
CREDITORS
Amounts falling due within one year 6 299,282 279,942
NET CURRENT ASSETS 274,640 242,012
TOTAL ASSETS LESS CURRENT
LIABILITIES

288,328

265,770

CREDITORS
Amounts falling due after more than one
year

7

(5,290

)

(11,965

)

PROVISIONS FOR LIABILITIES 9 (3,923 ) (5,445 )
NET ASSETS 279,115 248,360

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 11 278,115 247,360
SHAREHOLDERS' FUNDS 279,115 248,360

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MADOC AND RHODES (LEA VILLAGE) LIMITED (REGISTERED NUMBER: 03152488)

Balance Sheet - continued
28 February 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 April 2024 and were signed by:





Mr P McGrory - Director


MADOC AND RHODES (LEA VILLAGE) LIMITED (REGISTERED NUMBER: 03152488)

Notes to the Financial Statements
for the Year Ended 28 February 2024

1. STATUTORY INFORMATION

Madoc and Rhodes (Lea Village) Limited 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.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents invoiced sales of service.

The turnover results from gross premiums of £2,364,660 (2023 £2,057,422).

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

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 balance sheet date.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

MADOC AND RHODES (LEA VILLAGE) LIMITED (REGISTERED NUMBER: 03152488)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

2. ACCOUNTING POLICIES - continued

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 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 March 2023 36,193 74,814 103,990 214,997
Additions - - 1,440 1,440
Disposals - (21,447 ) (7,062 ) (28,509 )
At 28 February 2024 36,193 53,367 98,368 187,928
DEPRECIATION
At 1 March 2023 36,193 60,993 94,053 191,239
Charge for year - 6,572 4,938 11,510
Eliminated on disposal - (21,447 ) (7,062 ) (28,509 )
At 28 February 2024 36,193 46,118 91,929 174,240
NET BOOK VALUE
At 28 February 2024 - 7,249 6,439 13,688
At 28 February 2023 - 13,821 9,937 23,758

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 144,512 115,710
Owed by parent undertaking 59,961 59,961
Prepayments 1,707 4,751
206,180 180,422

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,584 9,584
Trade creditors 262,658 227,577
Corporation tax 16,108 17,978
Social security and other taxes 3,535 4,221
Other creditors 225 326
Accrued expenses 7,172 20,256
299,282 279,942

MADOC AND RHODES (LEA VILLAGE) LIMITED (REGISTERED NUMBER: 03152488)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loan 1 - 2 years 5,290 9,584
Bank loan 2 - 5 years - 2,381
5,290 11,965

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 14,874 21,549

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 3,923 5,445

Deferred
tax
£   
Balance at 1 March 2023 5,445
Provided during year (1,522 )
Balance at 28 February 2024 3,923

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

11. RESERVES
Retained
earnings
£   

At 1 March 2023 247,360
Profit for the year 43,831
Dividends (13,076 )
At 28 February 2024 278,115

12. OTHER FINANCIAL COMMITMENTS

Total financial commitments in respect of operating leases which are not included on the balance sheet amount to £14,500 (2023 - £31,900).

MADOC AND RHODES (LEA VILLAGE) LIMITED (REGISTERED NUMBER: 03152488)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

13. ULTIMATE CONTROLLING PARTY

The controlling party is Mr P McGrory.