Registered number
12352865
Monel Homes Limited
Filleted Abridged Accounts
31 December 2024
Monel Homes Limited
Registered number: 12352865
Abridged Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,035,021 1,580,551
Current assets
Debtors 309 292
Cash at bank and in hand 16,011 8,374
16,320 8,666
Creditors: amounts falling due within one year - (2,342)
Net current assets 16,320 6,324
Total assets less current liabilities 3,051,341 1,586,875
Creditors: amounts falling due after more than one year (2,965,234) (1,538,175)
Net assets 86,107 48,700
Capital and reserves
Called up share capital 1 1
Profit and loss account 86,106 48,699
Shareholder's funds 86,107 48,700
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
Charles Okafor
Director
Approved by the board on 4 June 2025
Monel Homes Limited
Notes to the Abridged Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The abridged accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings No depreciation
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Total
£
Cost
At 1 January 2024 1,580,551
Additions 1,454,470
At 31 December 2024 3,035,021
Depreciation
At 31 December 2024 -
Net book value
At 31 December 2024 3,035,021
At 31 December 2023 1,580,551
4 Other information
Monel Homes Limited is a private company limited by shares and incorporated in England. Its registered office is:
43 Tiger Court
Burton on Trent
Staffordshire
DE14 3PR
Monel Homes Limited 12352865 false 2024-01-01 2024-12-31 2024-12-31 VT Final Accounts April 2024 Charles Okafor No description of principal activity 12352865 2023-01-01 2023-12-31 12352865 core:WithinOneYear 2023-12-31 12352865 core:AfterOneYear 2023-12-31 12352865 core:ShareCapital 2023-12-31 12352865 core:RetainedEarningsAccumulatedLosses 2023-12-31 12352865 2024-01-01 2024-12-31 12352865 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 12352865 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 12352865 bus:Director40 2024-01-01 2024-12-31 12352865 1 2024-01-01 2024-12-31 12352865 2 2024-01-01 2024-12-31 12352865 countries:England 2024-01-01 2024-12-31 12352865 bus:FRS102 2024-01-01 2024-12-31 12352865 bus:AbridgedAccounts 2024-01-01 2024-12-31 12352865 2024-12-31 12352865 core:WithinOneYear 2024-12-31 12352865 core:AfterOneYear 2024-12-31 12352865 core:ShareCapital 2024-12-31 12352865 core:RetainedEarningsAccumulatedLosses 2024-12-31 12352865 2023-12-31 iso4217:GBP xbrli:pure