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MICHAEL PATRICK HOMES LIMITED

Registered Number
13376564
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

MICHAEL PATRICK HOMES LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

BUNDY, Craig
DAVIES, Christopher

Registered Address

3 Slater Close
Totton
Southampton
SO40 8XR

Registered Number

13376564 (England and Wales)
MICHAEL PATRICK HOMES LIMITED
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3390,605205,925
390,605205,925
Current assets
Debtors1,0001,000
Cash at bank and on hand7,17145,131
8,17146,131
Creditors amounts falling due within one year4(104,062)(89,739)
Net current assets (liabilities)(95,891)(43,608)
Total assets less current liabilities294,714162,317
Creditors amounts falling due after one year5(291,500)(150,000)
Net assets3,21412,317
Capital and reserves
Called up share capital1,0001,000
Profit and loss account2,21411,317
Shareholders' funds3,21412,317
The financial statements were approved and authorised for issue by the Board of Directors on 5 February 2025, and are signed on its behalf by:
DAVIES, Christopher
Director
Registered Company No. 13376564
MICHAEL PATRICK HOMES LIMITED
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings4
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Land & buildings

Fixtures & fittings

Total

£££
Cost or valuation
At 01 June 23205,925-205,925
Additions183,340364183,704
Revaluations1,000-1,000
At 31 May 24390,265364390,629
Depreciation and impairment
Charge for year-2424
At 31 May 24-2424
Net book value
At 31 May 24390,265340390,605
At 31 May 23205,925-205,925
4.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts3,429-
Amounts owed to related parties96,47888,300
Taxation and social security-191
Accrued liabilities and deferred income4,1551,248
Total104,06289,739
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts291,500150,000
Total291,500150,000
6.Directors advances, credits and guarantees
7.Related party transactions
The amount owed to CC Carpentry as of 31st May 2024 is £96,478.16 The amount owed to CC Properties as of the 31st May 2024 is £3,428.55