IRIS Accounts Production v24.3.0.553 14680868 director 22.2.23 29.2.24 29.2.24 0 false true false false true false Fair value model Ordinary 1.00000 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh146808682023-02-21146808682024-02-29146808682023-02-222024-02-29146808682023-02-2114680868ns15:EnglandWales2023-02-222024-02-2914680868ns14:PoundSterling2023-02-222024-02-2914680868ns10:Director12023-02-222024-02-2914680868ns10:PrivateLimitedCompanyLtd2023-02-222024-02-2914680868ns10:SmallEntities2023-02-222024-02-2914680868ns10:AuditExempt-NoAccountantsReport2023-02-222024-02-2914680868ns10:SmallCompaniesRegimeForAccounts2023-02-222024-02-2914680868ns10:FullAccounts2023-02-222024-02-2914680868ns10:OrdinaryShareClass12023-02-222024-02-29146808681ns10:OrdinaryShareClass12023-02-222024-02-2914680868ns10:RegisteredOffice2023-02-222024-02-2914680868ns5:CurrentFinancialInstruments2024-02-2914680868ns5:Non-currentFinancialInstruments2024-02-2914680868ns5:ShareCapital2024-02-2914680868ns5:RetainedEarningsAccumulatedLosses2024-02-2914680868ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2914680868ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-02-2914680868ns5:Non-currentFinancialInstruments2023-02-222024-02-2914680868ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-02-2914680868ns5:Secured2024-02-2914680868ns10:OrdinaryShareClass12024-02-2914680868ns5:RetainedEarningsAccumulatedLosses2023-02-222024-02-29
REGISTERED NUMBER: 14680868 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 22 FEBRUARY 2023 TO 29 FEBRUARY 2024

FOR

MN HOMES LTD

MN HOMES LTD (REGISTERED NUMBER: 14680868)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 22 FEBRUARY 2023 TO 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


MN HOMES LTD

COMPANY INFORMATION
FOR THE PERIOD 22 FEBRUARY 2023 TO 29 FEBRUARY 2024







DIRECTOR: C Bard





REGISTERED OFFICE: 116 Bethune Road
London
N16 5DU





REGISTERED NUMBER: 14680868 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

MN HOMES LTD (REGISTERED NUMBER: 14680868)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

Notes £   
FIXED ASSETS
Investment property 5 17,050,000

CURRENT ASSETS
Debtors 6 334,204

CREDITORS
Amounts falling due within one year 7 (37,735 )
NET CURRENT ASSETS 296,469
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,346,469

CREDITORS
Amounts falling due after more than one
year

8

(5,905,990

)
NET ASSETS 11,440,479

CAPITAL AND RESERVES
Called up share capital 11 11,450,314
Retained earnings 12 (9,835 )
SHAREHOLDERS' FUNDS 11,440,479

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 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.

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 and authorised for issue by the director and authorised for issue on 18 February 2025 and were signed by:




C Bard - Director


MN HOMES LTD (REGISTERED NUMBER: 14680868)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 22 FEBRUARY 2023 TO 29 FEBRUARY 2024

1. STATUTORY INFORMATION

MN Homes 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 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 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 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

MN HOMES LTD (REGISTERED NUMBER: 14680868)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 22 FEBRUARY 2023 TO 29 FEBRUARY 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 17,050,000
At 29 February 2024 17,050,000
NET BOOK VALUE
At 29 February 2024 17,050,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 334,204

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other creditors 37,735

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Bank loans (see note 9) 5,871,274
Other creditors 34,716
5,905,990

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 5,752,185

Repayable by instalments
Bank loans more 5 yr by instal 119,089

Other creditor includes Bounceback loan of £34,716. The loan is unsecured with fixed interest rate and guaranteed by HM Government.

9. LOANS

An analysis of the maturity of loans is given below:

£   
Amounts falling due between two and five years:
Other loans - 2-5 years 34,716

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 5,752,185

MN HOMES LTD (REGISTERED NUMBER: 14680868)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 22 FEBRUARY 2023 TO 29 FEBRUARY 2024

9. LOANS - continued
£   
Repayable by instalments
Bank loans more 5 yr by instal 119,089

10. SECURED DEBTS

The following secured debts are included within creditors:

£   
Bank loans 5,871,274

Bank loan is secured by the way of first charge against the company's investment properties.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
11,450,314 Ordinary £1 11,450,314

11,450,314 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

12. RESERVES
Retained
earnings
£   

Deficit for the period (9,835 )
At 29 February 2024 (9,835 )