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REGISTERED NUMBER: 01354345 (England and Wales)


















SOUTH MEADOW HOMES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024






SOUTH MEADOW HOMES LIMITED (REGISTERED NUMBER: 01354345)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SOUTH MEADOW HOMES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: Martin Guy Thomas
Michael Guy Thomas





SECRETARY: Martin Guy Thomas





REGISTERED OFFICE: 33 Main Street
Pembroke
Pembrokeshire
SA71 4JS





REGISTERED NUMBER: 01354345 (England and Wales)





ACCOUNTANTS: Llewelyn Davies
Chartered Accountants
50 Queen Street
Pembroke Dock
Pembrokeshire
SA72 6JE

SOUTH MEADOW HOMES LIMITED (REGISTERED NUMBER: 01354345)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,940 42,602

CURRENT ASSETS
Stocks 5 4,264,500 4,195,500
Debtors 6 150,918 137,097
Cash at bank and in hand 3,615,738 3,300,963
8,031,156 7,633,560
CREDITORS
Amounts falling due within one year 7 324,355 179,438
NET CURRENT ASSETS 7,706,801 7,454,122
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,738,741

7,496,724

PROVISIONS FOR LIABILITIES 7,985 9,522
NET ASSETS 7,730,756 7,487,202

CAPITAL AND RESERVES
Called up share capital 83 83
Capital redemption reserve 17 17
Retained earnings 7,730,656 7,487,102
SHAREHOLDERS' FUNDS 7,730,756 7,487,202

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

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

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 26 July 2025 and were signed on its behalf by:



Martin Guy Thomas - Director


SOUTH MEADOW HOMES LIMITED (REGISTERED NUMBER: 01354345)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

South Meadow 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.

Given the current trading performance and the strong financial position of the company, the directors are confident that the accounts can be prepared on a going concern basis.

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

SOUTH MEADOW HOMES LIMITED (REGISTERED NUMBER: 01354345)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2023
and 31 October 2024 307,195 21,500 886 329,581
DEPRECIATION
At 1 November 2023 268,598 17,673 708 286,979
Charge for year 9,646 957 59 10,662
At 31 October 2024 278,244 18,630 767 297,641
NET BOOK VALUE
At 31 October 2024 28,951 2,870 119 31,940
At 31 October 2023 38,597 3,827 178 42,602

5. STOCKS
2024 2023
£    £   
Land 1,554,500 1,564,500
Work-in-progress 2,710,000 2,631,000
4,264,500 4,195,500

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 6,480 -
VAT 11,484 4,223
Prepayments and accrued income 3,126 3,046
21,090 7,269

Amounts falling due after more than one year:
Recoverable bonds 129,828 129,828

Aggregate amounts 150,918 137,097

SOUTH MEADOW HOMES LIMITED (REGISTERED NUMBER: 01354345)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 11,918 33,301
Amounts owed to group undertakings 213,339 213,140
Tax 82,474 (75,332 )
Social security and other taxes 8,197 4,511
Wages control 534 434
Pensions control 314 134
Accrued expenses 7,579 3,250
324,355 179,438

8. RELATED PARTY DISCLOSURES

As described below, the director Martin Guy Thomas controls the company's parent company,
Forgped Limited. During the year the company was charged £nil (2023 - £nil) in respect of
management charges by Forgped Limited. At the balance sheet date the company owed Forgped
Limited £213,339 (2023 - £213,140).

In addition, the director Martin Guy Thomas has an interest in Guy Thomas & Co, estate agents. During the year the company was charged £9,705 (2023 - £4,750) in respect of estate agents' selling fees by Guy Thomas & Co. At the balance sheet date the company owed Guy Thomas & Co. £nil (2023 - £nil).

All transactions were on an 'arms length' basis.

9. ULTIMATE CONTROLLING PARTY

The company is a wholly-owned subsidiary of Forgped Limited. The director Martin Guy Thomas
controls Forgped Limited.