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REGISTERED NUMBER: 11085337 (England and Wales)















Financial Statements for the Year Ended 31 December 2024

for

Magnolia Homes Limited

Magnolia Homes Limited (Registered number: 11085337)

Contents of the Financial Statements
for the year ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

Magnolia Homes Limited

Company Information
for the year ended 31 December 2024







DIRECTORS: Mr S M Dominic
Mrs A A Dominic





SECRETARY:





REGISTERED OFFICE: The Managers Office
65 The Old Gaol
Abingdon
Oxfordshire
OX14 3HE





REGISTERED NUMBER: 11085337 (England and Wales)





ACCOUNTANTS: Westell Accountants
3 Bradfield Court
Drayton Mill, Milton Road
Drayton
Abingdon
Oxfordshire
OX14 4EF

Magnolia Homes Limited (Registered number: 11085337)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 49,512 65,900
Investment property 5 143,000 342,656
192,512 408,556

CURRENT ASSETS
Debtors 6 6,789 165,869
Cash at bank and in hand 660,843 124,248
667,632 290,117
CREDITORS
Amounts falling due within one year 7 446,486 433,576
NET CURRENT ASSETS/(LIABILITIES) 221,146 (143,459 )
TOTAL ASSETS LESS CURRENT LIABILITIES 413,658 265,097

CREDITORS
Amounts falling due after more than one
year

8

(96,000

)

(108,000

)

PROVISIONS FOR LIABILITIES (12,378 ) (15,500 )
NET ASSETS 305,280 141,597

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 305,276 141,593
SHAREHOLDERS' FUNDS 305,280 141,597

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Magnolia Homes Limited (Registered number: 11085337)

Balance Sheet - continued
31 December 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 Board of Directors and authorised for issue on 10 June 2025 and were signed on its behalf by:




Mrs A A Dominic - Director



Mr S M Dominic - Director


Magnolia Homes Limited (Registered number: 11085337)

Notes to the Financial Statements
for the year ended 31 December 2024


1. STATUTORY INFORMATION

Magnolia 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.

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

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 year 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 year 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Magnolia Homes Limited (Registered number: 11085337)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024
and 31 December 2024 103,622
DEPRECIATION
At 1 January 2024 37,722
Charge for year 16,388
At 31 December 2024 54,110
NET BOOK VALUE
At 31 December 2024 49,512
At 31 December 2023 65,900

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 342,656
Disposals (199,656 )
At 31 December 2024 143,000
NET BOOK VALUE
At 31 December 2024 143,000
At 31 December 2023 342,656

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 6,789 99,336
Other debtors - 66,533
6,789 165,869

Magnolia Homes Limited (Registered number: 11085337)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 12,000 12,000
Trade creditors 24,024 55,962
Taxation and social security 145,646 26,487
Other creditors 264,816 339,127
446,486 433,576

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 96,000 108,000

Magnolia Homes Limited

Report of the Accountants to the Directors of
Magnolia Homes Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2024 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Westell Accountants
3 Bradfield Court
Drayton Mill, Milton Road
Drayton
Abingdon
Oxfordshire
OX14 4EF


Date: .............................................