Company registration number 15186126 (England and Wales)
MAPLEWELL HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 19 JULY 2024
SOMERBYS LIMITED
CHARTERED ACCOUNTANTS
30 NELSON STREET
LEICESTER
LE1 7BA
MAPLEWELL HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
MAPLEWELL HOLDINGS LIMITED
BALANCE SHEET
- 1 -
2024
Notes
£
£
Fixed assets
Investment property
4
2,400,000
Investments
5
4,698,629
7,098,629
Current assets
Debtors
6
100
Cash at bank and in hand
25,348
25,448
Creditors: amounts falling due within one year
7
(21,319)
Net current assets
4,129
Total assets less current liabilities
7,102,758
Creditors: amounts falling due after more than one year
8
(1,618,500)
Provisions for liabilities
(184,902)
Net assets
5,299,356
Capital and reserves
Called up share capital
3,589,481
Profit and loss reserves
1,709,875
Total equity
5,299,356
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 19 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
MAPLEWELL HOLDINGS LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 14 November 2024 and are signed on its behalf by:
Mr T M Reynolds
Director
Company Registration No. 15186126
MAPLEWELL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 19 JULY 2024
- 3 -
1
Accounting policies
Company information
Maplewell Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 20 Regent Street, Nottingham, NG1 5BQ.
1.1
Reporting period
The company was incorporate on 4 October 2023, and changed its accounting reference date to 19 July 2024 to coincide with the completion of the group reorganisation and demerger. As a result of this, the current figures represent the period from 4 October 2023 to 19 July 2024.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.3
Turnover
Turnover represents amounts receivable for rental income which is recognised on a straight line basis over the lease term.
1.4
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
MAPLEWELL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 19 JULY 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
MAPLEWELL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 19 JULY 2024
- 5 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
Number
Total
2
4
Investment property
2024
£
Fair value
At 4 October 2023
Additions in relation to group reorganisation and demerger
2,400,000
At 19 July 2024
2,400,000
The fair value of the investment properties were arrived at on the basis of a valuation carried out by the directors of the company. The valuations were made on an open market basis by reference to market evidence of transaction prices for similar properties.
5
Fixed asset investments
2024
£
Shares in group undertakings and participating interests
4,698,629
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 4 October 2023
-
Additions in relation to group reorganisation and demerger
7,185,277
Disposals in relation to group reorganisation and demerger
(2,486,648)
At 19 July 2024
4,698,629
Carrying amount
At 19 July 2024
4,698,629
MAPLEWELL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 19 JULY 2024
- 6 -
6
Debtors
2024
Amounts falling due within one year:
£
Other debtors
100
7
Creditors: amounts falling due within one year
2024
£
Other creditors
21,319
8
Creditors: amounts falling due after more than one year
2024
£
Bank loans and overdrafts
1,618,500
Bank loans amounting to £1,618,500 are secured by way of fixed and floating charges over the property and other assets of the company.