REGISTERED NUMBER: 12394723 (England and Wales)

MMC HOMEBUILDING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A M Fraser

REGISTERED OFFICE:

Sidings House

Sidings Court

Lakeside

Doncaster

South Yorkshire

DN4 5NU

REGISTERED NUMBER:

12394723 (England and Wales)

FIXED ASSETS

Tangible assets

4

96,882

128,521

Investments

5

1

1

96,883

128,522

CURRENT ASSETS

Stocks

638,733

516,321

Debtors

6

100,469

418,261

Cash at bank

2,287

121,897

741,489

1,056,479

CREDITORS

Amounts falling due within one year

7

429,439

630,707

NET CURRENT ASSETS

312,050

425,772

TOTAL ASSETS LESS CURRENT LIABILITIES

408,933

554,294

CREDITORS

Amounts falling due after more than one year

8

710,000

400,000

NET (LIABILITIES)/ASSETS

(301,067

)

154,294

CAPITAL AND RESERVES

Called up share capital

1,800,001

1,800,001

Retained earnings

(2,101,068

)

(1,645,707

)

SHAREHOLDERS' FUNDS

(301,067

)

154,294

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 10 December 2025 and were signed by:

A M Fraser - Director

1.	STATUTORY INFORMATION

MMC Homebuilding 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.

The financial statements are presented in Sterling (GBP) which is the functional currency of the Company, rounded to the nearest £1.

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

Tangible fixed assets are stated at cost less accumulated depreciation and any accumulated impairment losses. Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line method or, if held under a finance lease, over the lease term, whichever is shorter.

Plant and machinery - 5 years straight line

Leasehold property improvements - 3 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted retrospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transactions, like the payments of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or, in the case of an out-right short-term loan, not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the Statement of Financial Position date.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Finance costs

Interest costs are recognised in the Income Statement in the period in which they are incurred. Issue costs are recognised in the Income Statement at a constant rate over the repayment period of the underlying borrowings.

Going concern

At the balance sheet date the company had net current liabilities of £301,067. With the continued support of the directors and associated companies the financial statements are prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

113,094

100,214

213,308

Additions

-

990

990

At 31 March 2025

113,094

101,204

214,298

DEPRECIATION

At 1 April 2024

48,718

36,069

84,787

Charge for year

13,613

19,016

32,629

At 31 March 2025

62,331

55,085

117,416

NET BOOK VALUE

At 31 March 2025

50,763

46,119

96,882

At 31 March 2024

64,376

64,145

128,521

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

1

NET BOOK VALUE

At 31 March 2025

1

At 31 March 2024

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

As restated

£

£

Trade debtors

54,388

72,983

Amounts owed by group undertakings

26,648

300,408

Other debtors

19,433

44,870

100,469

418,261

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

As restated

£

£

Trade creditors

181,393

112,841

Amounts owed to group undertakings

190,000

-

Taxation and social security

5,311

5,531

Other creditors

52,735

512,335

429,439

630,707

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

As restated

£

£

Other creditors

710,000

400,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

As restated

£

£

Other loans

710,000

400,000

Loan Note borrowings of the Company are secured by way of fixed and floating charges over the assets of the Company.

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11.	ULTIMATE CONTROLLING PARTY

The immediate parent undertaking is MMC Solid Wall Structures Limited, a company incorporated in England and Wales.

Gresham House BSI Housing LP (a fund registered in Guernsey) is the intermediate parent undertaking by virtue of its controlling interest in MMC Solid Wall Structures Limited.

The ultimate controlling entity is Gresham House PLC a company registered in England and Wales, by virtue of their controlling interest in Gresham House Investment Management (Guernsey) Ltd, the general partner of Gresham House BSI Housing LP.

.

12.	PRIOR-YEAR ADJUSTMENT

The opening reserves have been restated to reflect the agreed credit of interest on loan notes for the years 2022, 2023, and 2024, totalling £78,213.60. This prior-year adjustment corrects the previously stated reserves position.