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REGISTERED NUMBER: 13689159 (England and Wales)













FINANCIAL STATEMENTS

FOR THE PERIOD

31 OCTOBER 2022 TO 28 FEBRUARY 2024

FOR

MCCARTHY HOMES SW LTD

MCCARTHY HOMES SW LTD (REGISTERED NUMBER: 13689159)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 31 OCTOBER 2022 TO 28 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MCCARTHY HOMES SW LTD

COMPANY INFORMATION
FOR THE PERIOD 31 OCTOBER 2022 TO 28 FEBRUARY 2024







DIRECTORS: Mr S C McCarthy
Mr D McCarthy





REGISTERED OFFICE: The Rockery
St James Road
Torquay
Devon
TQ1 4FT





REGISTERED NUMBER: 13689159 (England and Wales)





ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND

MCCARTHY HOMES SW LTD (REGISTERED NUMBER: 13689159)

BALANCE SHEET
28 FEBRUARY 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 494,514 -

CURRENT ASSETS
Stocks 5 763,103 -
Debtors 6 972 1
Cash at bank 10,223 -
774,298 1
CREDITORS
Amounts falling due within one year 7 1,233,317 -
NET CURRENT (LIABILITIES)/ASSETS (459,019 ) 1
TOTAL ASSETS LESS CURRENT LIABILITIES 35,495 1

PROVISIONS FOR LIABILITIES 6,988 -
NET ASSETS 28,507 1

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 8 20,964 -
Retained earnings 7,542 -
SHAREHOLDERS' FUNDS 28,507 1

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

The members have not required the company to obtain an audit of its financial statements for the period ended 28 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.

MCCARTHY HOMES SW LTD (REGISTERED NUMBER: 13689159)

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 Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by:




Mr S C McCarthy - Director



Mr D McCarthy - Director


MCCARTHY HOMES SW LTD (REGISTERED NUMBER: 13689159)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 31 OCTOBER 2022 TO 28 FEBRUARY 2024


1. STATUTORY INFORMATION

McCarthy Homes SW 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 as modified by the revaluation of certain assets.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 period 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 period 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 period was NIL (2022 - NIL).

MCCARTHY HOMES SW LTD (REGISTERED NUMBER: 13689159)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 OCTOBER 2022 TO 28 FEBRUARY 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 466,562
Revaluations 27,952
At 28 February 2024 494,514
NET BOOK VALUE
At 28 February 2024 494,514

Fair value at 28 February 2024 is represented by:
£   
Valuation in 2024 494,514

5. STOCKS
2024 2022
£    £   
Stocks 763,103 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors 960 -
Amounts owed by associates 1 1
VAT 11 -
972 1

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade creditors 308 -
Amounts owed to associates 1,187,591 -
Tax 43,690 -
Accrued expenses 1,728 -
1,233,317 -

8. RESERVES
Fair
value
reserve
£   
Revaluation 20,964

At 28 February 2024 20,964

MCCARTHY HOMES SW LTD (REGISTERED NUMBER: 13689159)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 OCTOBER 2022 TO 28 FEBRUARY 2024


9. RELATED PARTY DISCLOSURES

During the year the company borrowed £716,534 from McCarthy Contracting & Development Ltd, £300,000 from McCarthy External Systems Ltd and £171,057 from McCarthy Homes Torbay Ltd, companies that are also 100% subsidiaries of McCarthy Holdings SW Ltd.

10. ULTIMATE CONTROLLING PARTY

McCarthy Homes SW Ltd is a 100% subsidiary of McCarthy Holdings SW Ltd. The parent company registered office address is: The Rockery, St James Road, Torquay, Devon, TQ1 4FT.