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REGISTERED NUMBER: 04106158 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Melford Construction Limited

Melford Construction Limited (Registered number: 04106158)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Melford Construction Limited

Company Information
for the year ended 31 October 2024







DIRECTORS: Mr P A Wright
Mr C J Wright





REGISTERED OFFICE: The Riverside Business Park
Gravel Lane
Banks
Southport
Merseyside
PR9 8DE





REGISTERED NUMBER: 04106158 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Ltd
13a Duke Street
Southport
Merseyside
PR8 1LS

Melford Construction Limited (Registered number: 04106158)

Balance Sheet
31 October 2024

2024 2023
Notes £ £
FIXED ASSETS
Intangible assets 4 758 1,071
Tangible assets 5 149,661 173,498
Investment property 6 398,121 398,121
548,540 572,690

CURRENT ASSETS
Stocks 1,614,571 1,928,042
Debtors 7 205,356 191,038
Cash at bank and in hand 11,699 34,874
1,831,626 2,153,954
CREDITORS
Amounts falling due within one year 8 (515,456 ) (738,590 )
NET CURRENT ASSETS 1,316,170 1,415,364
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,864,710

1,988,054

CREDITORS
Amounts falling due after more than one year 9 - (2,502 )

PROVISIONS FOR LIABILITIES (11,852 ) (14,384 )
NET ASSETS 1,852,858 1,971,168

CAPITAL AND RESERVES
Called up share capital 12 2,100 2,100
Retained earnings 1,850,758 1,969,068
SHAREHOLDERS' FUNDS 1,852,858 1,971,168

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.

Melford Construction Limited (Registered number: 04106158)

Balance Sheet - continued
31 October 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 28 July 2025 and were signed on its behalf by:





Mr P A Wright - Director


Melford Construction Limited (Registered number: 04106158)

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

1. STATUTORY INFORMATION

Melford Construction 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the net sales value excluding VAT of properties constructed and sold during the year and other contracting work done where the right to consideration existed in the year.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investment property
Investment property is stated at fair value which the directors consider to be not materially different to cost at either 31 October 2024 or 31 October 2023.

Stocks
Stocks consist of land purchased for development and construction cost of properties either in progress or completed but unsold at 31 October 2024. Stocks are valued at the lower of cost and net realisable value.

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.

Melford Construction Limited (Registered number: 04106158)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Long term contracts
Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments received on account.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Computer
software
£
COST
At 1 November 2023
and 31 October 2024 3,136
AMORTISATION
At 1 November 2023 2,065
Amortisation for year 313
At 31 October 2024 2,378
NET BOOK VALUE
At 31 October 2024 758
At 31 October 2023 1,071

Melford Construction Limited (Registered number: 04106158)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 November 2023 281,741 14,436 184,438 6,080 486,695
Additions - - 5,850 1,731 7,581
Disposals - - (3,300 ) (3,451 ) (6,751 )
At 31 October 2024 281,741 14,436 186,988 4,360 487,525
DEPRECIATION
At 1 November 2023 195,688 10,740 100,981 5,788 313,197
Charge for year 8,605 369 21,364 584 30,922
Eliminated on disposal - - (2,860 ) (3,395 ) (6,255 )
At 31 October 2024 204,293 11,109 119,485 2,977 337,864
NET BOOK VALUE
At 31 October 2024 77,448 3,327 67,503 1,383 149,661
At 31 October 2023 86,053 3,696 83,457 292 173,498

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
COST
At 1 November 2023
and 31 October 2024 93,064
DEPRECIATION
At 1 November 2023 40,716
Charge for year 13,087
At 31 October 2024 53,803
NET BOOK VALUE
At 31 October 2024 39,261
At 31 October 2023 52,348

6. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 November 2023
and 31 October 2024 398,121
NET BOOK VALUE
At 31 October 2024 398,121
At 31 October 2023 398,121

Melford Construction Limited (Registered number: 04106158)

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

7. DEBTORS
2024 2023
£ £
Amounts falling due within one year:
Trade debtors 26,270 700
Amounts recoverable
on contracts 14,532 14,532
Other debtors 150,681 159,588
191,483 174,820

Amounts falling due after more than one year:
Other debtors 13,873 16,218

Aggregate amounts 205,356 191,038

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts (see note 10) 277,084 551,753
Hire purchase contracts 2,502 30,021
Trade creditors 164,197 126,259
Taxation and social security 7,698 22,985
Other creditors 63,975 7,572
515,456 738,590

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Hire purchase contracts - 2,502

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£ £
Amounts falling due within one year or on demand:
Bank loans - less than 1 year 277,084 551,753

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans 277,084 551,753
Hire purchase contracts 2,502 32,523
279,586 584,276

Melford Construction Limited (Registered number: 04106158)

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

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
2,000 Ordinary £1 2,000 2,000
100 Ordinary A £1 100 100
2,100 2,100

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2024 and 31 October 2023:

2024 2023
£ £
Mr P A Wright
Balance outstanding at start of year 68,141 9,507
Amounts advanced 117,705 110,751
Amounts repaid (125,536 ) (52,117 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 60,310 68,141

Mr C J Wright
Balance outstanding at start of year 71,597 33,178
Amounts advanced 67,145 66,812
Amounts repaid (65,020 ) (28,393 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 73,722 71,597

The above balances were partially repaid within 9 months of the year-end. The loans are repayable on demand and bear interest at commercial rate charged annually in arrears.

14. RELATED PARTY DISCLOSURES

Creditors include an interest-free loan of £54,272 (2023: Debtor £9,112) due to P.A.Wright & Son Limited, a company which is controlled by a director, Mr.P.A.Wright. There are no fixed repayment terms.

15. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director, Mr.P.A.Wright, who is the majority shareholder.