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REGISTERED NUMBER: 07505491 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2024

for

MEADOWBANK HOME BUILDERS LIMITED

MEADOWBANK HOME BUILDERS LIMITED (REGISTERED NUMBER: 07505491)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MEADOWBANK HOME BUILDERS LIMITED

Company Information
for the Year Ended 31st March 2024







DIRECTOR: S M Perry





REGISTERED OFFICE: 89 Leigh Road
Eastleigh
Hampshire
SO50 9DQ





REGISTERED NUMBER: 07505491 (England and Wales)





ACCOUNTANTS: Graham Martin & Co
Accountants
89 Leigh Road
Eastleigh
Hampshire
SO50 9DQ

MEADOWBANK HOME BUILDERS LIMITED (REGISTERED NUMBER: 07505491)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 778,315 817,108

CURRENT ASSETS
Stocks 920,000 1,595,456
Debtors 5 1,300,977 770,330
Cash at bank and in hand 1,503 49,229
2,222,480 2,415,015
CREDITORS
Amounts falling due within one year 6 2,800,456 3,072,953
NET CURRENT LIABILITIES (577,976 ) (657,938 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

200,339

159,170

CREDITORS
Amounts falling due after more than one
year

7

(14,167

)

(21,667

)

PROVISIONS FOR LIABILITIES (3,493 ) -
NET ASSETS 182,679 137,503

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 182,678 137,502
SHAREHOLDERS' FUNDS 182,679 137,503

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.

MEADOWBANK HOME BUILDERS LIMITED (REGISTERED NUMBER: 07505491)

Balance Sheet - continued
31st March 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 director and authorised for issue on 25th November 2024 and were signed by:





S M Perry - Director


MEADOWBANK HOME BUILDERS LIMITED (REGISTERED NUMBER: 07505491)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Meadowbank Home Builders 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.

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.
Plant and machinery etc - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

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.

MEADOWBANK HOME BUILDERS LIMITED (REGISTERED NUMBER: 07505491)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

2. ACCOUNTING POLICIES - continued

Freehold property
The company does not provide for depreciation with respect to its freehold land.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 20 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st April 2023 755,543 166,659 922,202
Disposals - (39,833 ) (39,833 )
At 31st March 2024 755,543 126,826 882,369
DEPRECIATION
At 1st April 2023 - 105,094 105,094
Charge for year 15,111 12,626 27,737
Eliminated on disposal - (28,777 ) (28,777 )
At 31st March 2024 15,111 88,943 104,054
NET BOOK VALUE
At 31st March 2024 740,432 37,883 778,315
At 31st March 2023 755,543 61,565 817,108

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 196,543
Amounts owed by participating interests 1,074,144 346,954
Other debtors 226,833 226,833
1,300,977 770,330

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,820,146 2,275,558
Trade creditors 216,425 55,269
Taxation and social security 31,991 168,466
Other creditors 731,894 573,660
2,800,456 3,072,953

MEADOWBANK HOME BUILDERS LIMITED (REGISTERED NUMBER: 07505491)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 14,167 21,667

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2024 and 31st March 2023:

2024 2023
£    £   
S M Perry
Balance outstanding at start of year 548,272 1,192,402
Amounts advanced 190,152 420,900
Amounts repaid (49,671 ) (1,065,030 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 688,753 548,272

9. RELATED PARTY DISCLOSURES

At 31st March 2024 the company was owed £1,074,144 (2023: £346,954) by 2 Hats Development & Leisure Limited.

This loan is interest free and repayable on demand.

This is a company in which the director, S.M. Perry is a major shareholder and director.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S M Perry.