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MEDVALE HOUSE (MAIDSTONE) LIMITED

Registered Number
12551026
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

MEDVALE HOUSE (MAIDSTONE) LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors | GRAY, James Richard
| HILLEN, Kenneth James Gribben
| PATEL, Nilesh Suresh

Registered Address | 128 City Road
| London
| EC1V 2NX

Registered Number | 12551026 (England and Wales)

MEDVALE HOUSE (MAIDSTONE) LIMITED
Balance Sheet as at
31 December 2024

| Notes | 2024 |  | 2023
--- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
Current assets |  |  |  |  |  |  |  |
Stocks | 3 | 19,458,428 |  |  |  | 17,072,650 |  |
Debtors | 4 | 391,035 |  |  |  | 340,435 |  |
Cash at bank and on hand |  | 1,800 |  |  |  | 1,162 |  |
|  | 19,851,263 |  |  |  | 17,414,247 |  |
Creditors amounts falling due within one year | 5 | (19,863,306) |  |  |  | (11,796,723) |  |
Net current assets (liabilities) |  |  |  | (12,043) |  |  |  | 5,617,524
Total assets less current liabilities |  |  |  | (12,043) |  |  |  | 5,617,524
Creditors amounts falling due after one year | 6 |  |  | - |  |  |  | (5,612,738)
Net assets |  |  |  | (12,043) |  |  |  | 4,786
Capital and reserves |  |  |  |  |  |  |  |
Called up share capital |  |  |  | 1 |  |  |  | 1
Revaluation reserve |  |  |  | 153,321 |  |  |  | 153,321
Profit and loss account |  |  |  | (165,365) |  |  |  | (148,536)
Shareholders' funds |  |  |  | (12,043) |  |  |  | 4,786

- The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
- The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
- The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
- These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
- The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 9 April 2026, and are signed on its behalf by:
HILLEN, Kenneth James Gribben Director Registered Company No. 12551026

MEDVALE HOUSE (MAIDSTONE) LIMITED
Notes to the Financial Statements
for the year ended 31 December 2024

1. | Accounting policies
--- | ---

| Statutory information
--- | ---
| The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| Statement of compliance
--- | ---
| The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

| Going concern
--- | ---
| At the time of approving the financial statements , the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

| Revenue from sale of goods
--- | ---
| 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.

| Foreign currency translation
--- | ---
| Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

| Tangible fixed assets and depreciation
--- | ---
| All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

| Stocks and work in progress
--- | ---
| Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2. | Average number of employees
--- | ---

|  | 2024 |  | 2023
| Average number of employees during the year | 3 |  | 3

3. | Stocks
--- | ---

|  | 2024 |  | 2023
--- | --- | --- | --- | ---
|  | £ |  | £
| Work in progress | 19,458,428 |  | 17,072,650
| Total | 19,458,428 |  | 17,072,650

4. | Debtors: amounts due within one year
--- | ---

|  | 2024 |  | 2023
--- | --- | --- | --- | ---
|  | £ |  | £
| Amounts owed by group undertakings | 1,379 |  | 3,242
| Other debtors | 389,656 |  | 337,193
| Total | 391,035 |  | 340,435

| 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.

5. | Creditors: amounts due within one year
--- | ---

|  | 2024 |  | 2023
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade creditors / trade payables | 70,037 |  | 3,306
| Amounts owed to related parties | 19,332,330 |  | 11,332,478
| Other creditors | 455,428 |  | 455,428
| Accrued liabilities and deferred income | 5,511 |  | 5,511
| Total | 19,863,306 |  | 11,796,723

| 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.

6. | Creditors: amounts due after one year
--- | ---

|  | 2024 |  | 2023
--- | --- | --- | --- | ---
|  | £ |  | £
| Bank borrowings and overdrafts | - |  | 5,612,738
| Total | - |  | 5,612,738

| Long 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.

7. | Controlling party
--- | ---
| The ultimate controlling party is Convivia Homes Holdings Ltd. The registered address of the parent undertaking is 128 City Road, London, United Kingdom, EC1V 2NX.