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Company No: 09556111 (England and Wales)

MALDON HOMES LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

MALDON HOMES LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

MALDON HOMES LIMITED

BALANCE SHEET

As at 31 March 2025
MALDON HOMES LIMITED

BALANCE SHEET (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 85 127
Investment property 4 700,000 700,000
700,085 700,127
Current assets
Debtors 5 1,530 1,404
Cash at bank and in hand 138,056 136,601
139,586 138,005
Creditors: amounts falling due within one year 6 ( 598,367) ( 606,442)
Net current liabilities (458,781) (468,437)
Total assets less current liabilities 241,304 231,690
Provision for liabilities ( 24,000) ( 24,000)
Net assets 217,304 207,690
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 217,204 207,590
Total shareholder's funds 217,304 207,690

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Maldon Homes Limited (registered number: 09556111) were approved and authorised for issue by the Director on 23 May 2025. They were signed on its behalf by:

Mr A Ollis
Director
MALDON HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
MALDON HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Maldon Homes Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents property rental income recognised on a straight line basis over the life of the tenancy.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Office equipment 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses observable market prices, adjusted if necessary for any difference in nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 April 2024 3,163 3,163
At 31 March 2025 3,163 3,163
Accumulated depreciation
At 01 April 2024 3,036 3,036
Charge for the financial year 42 42
At 31 March 2025 3,078 3,078
Net book value
At 31 March 2025 85 85
At 31 March 2024 127 127

4. Investment property

Investment property
£
Valuation
As at 01 April 2024 700,000
As at 31 March 2025 700,000

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2025 2024
£ £
Historic cost 604,069 604,069

5. Debtors

2025 2024
£ £
Prepayments 1,530 1,404

6. Creditors: amounts falling due within one year

2025 2024
£ £
Amounts owed to director 576,257 580,706
Accruals and deferred income 16,278 18,436
Taxation and social security 1,182 7,300
Other creditors 4,650 0
598,367 606,442

7. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

Included within the profit and loss reserve is £95,931 (2024: £95,931) of distributable reserves relating to the revaluation of investment properties.

8. Related party transactions

Loans exist between the director and the company, which are included within other creditors. Interest of £23,250 (2023: £36,500) has been charged on the loans during the year. The loans are repayable on demand and at the year end, the balance owed were as follows:

Mr A Ollis: £576,257 (2023: £580,706)