IRIS Accounts Production v24.3.0.553 14096478 Board of Directors 1.6.23 31.5.24 31.5.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh140964782023-05-31140964782024-05-31140964782023-06-012024-05-31140964782022-05-09140964782022-05-102023-05-31140964782023-05-3114096478ns15:EnglandWales2023-06-012024-05-3114096478ns14:PoundSterling2023-06-012024-05-3114096478ns10:Director12023-06-012024-05-3114096478ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3114096478ns10:SmallEntities2023-06-012024-05-3114096478ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3114096478ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3114096478ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3114096478ns10:FullAccounts2023-06-012024-05-3114096478ns5:CurrentFinancialInstruments2024-05-3114096478ns5:CurrentFinancialInstruments2023-05-3114096478ns5:ShareCapital2024-05-3114096478ns5:ShareCapital2023-05-3114096478ns5:RetainedEarningsAccumulatedLosses2024-05-3114096478ns5:RetainedEarningsAccumulatedLosses2023-05-3114096478ns10:RegisteredOffice2023-06-012024-05-3114096478ns5:LandBuildings2023-05-3114096478ns5:LandBuildings2023-06-012024-05-3114096478ns5:LandBuildings2024-05-3114096478ns5:LandBuildings2023-05-3114096478ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-05-3114096478ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-311409647812023-06-012024-05-31
REGISTERED NUMBER: 14096478 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

MAUN RIVER DEVELOPMENTS LIMITED

MAUN RIVER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 14096478)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Statement of Financial Position 1

Notes to the Financial Statements 2 to 4


MAUN RIVER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 14096478)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 - 182,173

CURRENT ASSETS
Stocks 199,852 -
Debtors 5 346,480 356,771
Cash at bank 1,206 11,639
547,538 368,410
CREDITORS
Amounts falling due within one year 6 (571,533 ) (567,104 )
NET CURRENT LIABILITIES (23,995 ) (198,694 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(23,995

)

(16,521

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (24,095 ) (16,621 )
(23,995 ) (16,521 )

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

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

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 29 November 2024 and were signed on its behalf by:





P M Dermody - Director


MAUN RIVER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 14096478)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Maun River Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 14096478

Registered office: 5 Sutherland Drive
West Bridgford
Nottingham
Nottinghamshire
NG2 7BX

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.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reports. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

(a) Critical accounting estimates and assumptions

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

MAUN RIVER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 14096478)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

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 statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 2 (2023 - 2 ) .

MAUN RIVER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 14096478)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 June 2023 182,173
Disposals (182,173 )
At 31 May 2024 -
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 182,173

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 346,480 356,771

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors - 2,995
Other creditors 571,533 564,109
571,533 567,104

7. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
SASS Loan Account 77,559 160,000

The SASS Loan contains a fixed charge over the assets to which they relate.

8. RELATED PARTY DISCLOSURES

All transactions undertaken with the directors are deemed to be conducted under normal market conditions and/or are not material.

9. POST BALANCE SHEET EVENTS

There were no material events up to the date of approval of the financial statements by the board.