IRIS Accounts Production v25.1.0.734 13369141 director 1.5.23 31.3.24 31.3.24 0 0 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh133691412023-04-30133691412024-03-31133691412023-05-012024-03-31133691412022-04-30133691412022-05-012023-04-30133691412023-04-3013369141ns15:EnglandWales2023-05-012024-03-3113369141ns14:PoundSterling2023-05-012024-03-3113369141ns10:Director12023-05-012024-03-3113369141ns10:PrivateLimitedCompanyLtd2023-05-012024-03-3113369141ns10:SmallEntities2023-05-012024-03-3113369141ns10:AuditExempt-NoAccountantsReport2023-05-012024-03-3113369141ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-03-3113369141ns10:SmallCompaniesRegimeForAccounts2023-05-012024-03-3113369141ns10:FullAccounts2023-05-012024-03-3113369141ns10:OrdinaryShareClass12023-05-012024-03-3113369141ns10:RegisteredOffice2023-05-012024-03-3113369141ns5:CurrentFinancialInstruments2024-03-3113369141ns5:CurrentFinancialInstruments2023-04-3013369141ns5:ShareCapital2024-03-3113369141ns5:ShareCapital2023-04-3013369141ns5:RetainedEarningsAccumulatedLosses2024-03-3113369141ns5:RetainedEarningsAccumulatedLosses2023-04-3013369141ns5:CurrentFinancialInstruments2023-05-012024-03-3113369141ns5:Secured2024-03-3113369141ns5:Secured2023-04-3013369141ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 13369141 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2023 TO 31 MARCH 2024

FOR

MENDIP AND SOMERSET HOMES LIMITED

MENDIP AND SOMERSET HOMES LIMITED (REGISTERED NUMBER: 13369141)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 1 MAY 2023 TO 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MENDIP AND SOMERSET HOMES LIMITED

COMPANY INFORMATION
for the Period 1 MAY 2023 TO 31 MARCH 2024







DIRECTOR: M P Matthews





REGISTERED OFFICE: 61 Queen Square
Bristol
United Kingdom
BS1 4JZ





REGISTERED NUMBER: 13369141 (England and Wales)





ACCOUNTANTS: Burnside
Chartered Accountants
61 Queen Square
Bristol
BS1 4JZ

MENDIP AND SOMERSET HOMES LIMITED (REGISTERED NUMBER: 13369141)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Stocks 4 543,403 -
Cash in hand 1 1
543,404 1
CREDITORS
Amounts falling due within one year 5 546,298 -
NET CURRENT (LIABILITIES)/ASSETS (2,894 ) 1
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,894

)

1

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings (2,895 ) -
SHAREHOLDERS' FUNDS (2,894 ) 1

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

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

MENDIP AND SOMERSET HOMES LIMITED (REGISTERED NUMBER: 13369141)

BALANCE SHEET - continued
31 MARCH 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 May 2025 and were signed by:





M P Matthews - Director


MENDIP AND SOMERSET HOMES LIMITED (REGISTERED NUMBER: 13369141)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 1 MAY 2023 TO 31 MARCH 2024

1. STATUTORY INFORMATION

Mendip And Somerset Homes Limited 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. 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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stock includes land purchased for development or resale.

Financial instruments
Financial assets and liabilities are recognised in the balance sheet when the company becomes party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and are measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company may not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of any direct issue costs.


MENDIP AND SOMERSET HOMES LIMITED (REGISTERED NUMBER: 13369141)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 MAY 2023 TO 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Going concern
The director has considered the company's ability to continue as a going concern for at least 12 months from the date of signing of these financial statements and has concluded that he considers the company to be a going concern. This assessment is based on the director's intention to continue to provide any financial support necessary for the foreseeable future. The director has therefore adopted the going concern basis of accounting in preparing these financial statements.

3. EMPLOYEES AND DIRECTORS

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

4. STOCKS
2024 2023
£    £   
Land for development or
resale 543,403 -

MENDIP AND SOMERSET HOMES LIMITED (REGISTERED NUMBER: 13369141)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 MAY 2023 TO 31 MARCH 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to related parties 65,000 -
Other creditors 479,798 -
Accrued expenses 1,500 -
546,298 -

Amounts owed to related parties of £65,000 as of 31 March 2024 (£Nil as of 30 April 2023) include a loan payable to a company under common control repayable on demand. The loan is interest free and is secured with a share in future cash flows from development projects.

Other creditors of £479,798 as of 31 March 2024 (£Nil as of 30 April 2023) includes a director's loan of £239,899 from M P Matthews.

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Owed to related parties 65,000 -
Other creditors 479,798 -
544,798 -

The debts are secured on land included within stock.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary 1.00 1 1

8. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Frys Well Holdings Limited, a company registered in England & Wales, that acquired the entire issued share capital of the company on 19 February 2024. Prior to that date, the company was controlled by D Obern, a former director of the company.