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REGISTERED NUMBER: 13228471 (England and Wales)













MHW DEVELOPMENTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28TH FEBRUARY 2024






MHW DEVELOPMENTS LTD (REGISTERED NUMBER: 13228471)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MHW DEVELOPMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28TH FEBRUARY 2024







DIRECTOR: Mr R M Williams





REGISTERED OFFICE: 28 Heol Y Deri
Aberdare
CF44 0BP





REGISTERED NUMBER: 13228471 (England and Wales)





ACCOUNTANTS: Carston ETL
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

MHW DEVELOPMENTS LTD (REGISTERED NUMBER: 13228471)

STATEMENT OF FINANCIAL POSITION
28TH FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,172 24,259
Investment property 5 331,324 249,724
347,496 273,983

CURRENT ASSETS
Debtors 6 3,930 6,469
Cash at bank 35,882 1,094
39,812 7,563
CREDITORS
Amounts falling due within one year 7 185,025 246,279
NET CURRENT LIABILITIES (145,213 ) (238,716 )
TOTAL ASSETS LESS CURRENT LIABILITIES 202,283 35,267

CREDITORS
Amounts falling due after more than one year 8 (103,806 ) -

PROVISIONS FOR LIABILITIES (16,015 ) -
NET ASSETS 82,462 35,267

CAPITAL AND RESERVES
Called up share capital 9 2 2
Fair value reserve 10 35,917 -
Retained earnings 46,543 35,265
SHAREHOLDERS' FUNDS 82,462 35,267

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

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

MHW DEVELOPMENTS LTD (REGISTERED NUMBER: 13228471)

STATEMENT OF FINANCIAL POSITION - continued
28TH 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29th November 2024 and were signed by:





Mr R M Williams - Director


MHW DEVELOPMENTS LTD (REGISTERED NUMBER: 13228471)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2024


1. STATUTORY INFORMATION

Mhw Developments 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.

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.
Motor vehicles - 25% straight line on cost

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.

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 statement of financial position date.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1st March 2023
and 28th February 2024 32,345
DEPRECIATION
At 1st March 2023 8,086
Charge for year 8,087
At 28th February 2024 16,173
NET BOOK VALUE
At 28th February 2024 16,172
At 28th February 2023 24,259

MHW DEVELOPMENTS LTD (REGISTERED NUMBER: 13228471)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st March 2023 249,724
Additions 33,711
Revaluations 47,889
At 28th February 2024 331,324
NET BOOK VALUE
At 28th February 2024 331,324
At 28th February 2023 249,724

Fair value at 28th February 2024 is represented by:
£   
Valuation in 2024 47,889
Cost 283,435
331,324

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 3,930 6,469

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security - 2,581
Other creditors 185,025 243,698
185,025 246,279

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 103,806 -

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

MHW DEVELOPMENTS LTD (REGISTERED NUMBER: 13228471)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2024


10. RESERVES
Fair
value
reserve
£   
Revaluation in the year 35,917

At 28th February 2024 35,917