REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
FOR |
M&CO HOMES HAWKINGE (NORTH) LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
FOR |
M&CO HOMES HAWKINGE (NORTH) LTD |
M&CO HOMES HAWKINGE (NORTH) LTD (REGISTERED NUMBER: 13027661) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Report of the Accountants | 7 |
M&CO HOMES HAWKINGE (NORTH) LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
45 Queen Street |
Deal |
Kent |
CT14 6EY |
M&CO HOMES HAWKINGE (NORTH) LTD (REGISTERED NUMBER: 13027661) |
BALANCE SHEET |
29 FEBRUARY 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
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. |
M&CO HOMES HAWKINGE (NORTH) LTD (REGISTERED NUMBER: 13027661) |
BALANCE SHEET - continued |
29 FEBRUARY 2024 |
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 |
M&CO HOMES HAWKINGE (NORTH) LTD (REGISTERED NUMBER: 13027661) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
1. | STATUTORY INFORMATION |
M&Co Homes Hawkinge (North) Ltd is a |
The financial statements are presented in round pounds £ sterling. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Stocks |
Work in progress is valued at the lower of cost and net realisable value of the unsold properties. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
Directors' current accounts | 30,750 | - |
VAT |
Prepayments and accrued income |
M&CO HOMES HAWKINGE (NORTH) LTD (REGISTERED NUMBER: 13027661) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued |
Amounts owed by group companies represents an amount owed by M&Co Homes Hawkinge (South) Limited. |
Other debtors include £1,500 owed to Real Time Business Limited, a company controlled by the Director. |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Accrued expenses |
Amounts owed to Group undertakings represent amounts owed to: |
M&Co Homes Limited (the parent company): £2,311,912 |
M&Co Homes Hawkinge (West) Ltd (a group company): £132,140 |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other loans (see note 7) |
Long term creditors represents a loan from Shawbrook bank, interest is payable on this loan at 6.25% above Term SONIA. |
The security over the loan includes a personal guarantee from the Director as well as a Debenture over the assets of the Company and the assets of group Companies M&Co Homes Hawkinge (South) Ltd and M&Co Homes Hawkinge (West) Ltd. |
7. | LOANS |
The amounts due to group companies have no fixed terms of repayment. |
8. | CONTINGENT LIABILITIES |
The company has provided a cross guarantee to lenders of the holding company, M & Co Homes Limited, for facilities provided to the company. The loan from the holding company has no fixed terms of repayment. |
9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
M&CO HOMES HAWKINGE (NORTH) LTD (REGISTERED NUMBER: 13027661) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued |
Loans to directors have been repaid within 9 months of the year end. |
10. | ULTIMATE CONTROLLING PARTY |
The controlling party is E R D Morgan. |
The ultimate controlling party is |
11. | GOING CONCERN |
The accounts are prepared on a going concern basis, the Director and the Ultimate Holding Company will support the Company for the next 12 months. |
M&CO HOMES HAWKINGE (NORTH) LTD |
REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF |
M&CO HOMES HAWKINGE (NORTH) LTD |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 29 February 2024 set out on pages one to seven and you consider that the company is exempt from an audit. |
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
45 Queen Street |
Deal |
Kent |
CT14 6EY |
Date: ............................................. |