REGISTERED NUMBER: 14680868 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

MN HOMES LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

C Bard

REGISTERED OFFICE:

116 Bethune Road

London

N16 5DU

REGISTERED NUMBER:

14680868 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Investment property

5

17,050,001

17,050,000

CURRENT ASSETS

Debtors

6

649,012

334,204

Cash at bank

146,709

-

795,721

334,204

CREDITORS

Amounts falling due within one year

7

(312,515

)

(37,735

)

NET CURRENT ASSETS

483,206

296,469

TOTAL ASSETS LESS CURRENT LIABILITIES

17,533,207

17,346,469

CREDITORS

Amounts falling due after more than one year

8

(6,098,440

)

(5,905,990

)

NET ASSETS

11,434,767

11,440,479

CAPITAL AND RESERVES

Called up share capital

11

11,450,314

11,450,314

Retained earnings

12

(15,547

)

(9,835

)

SHAREHOLDERS' FUNDS

11,434,767

11,440,479

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 and authorised for issue by the director and authorised for issue on 14 April 2026 and were signed by:

C Bard - Director

1.	STATUTORY INFORMATION

MN Homes Ltd 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4.	EMPLOYEES AND DIRECTORS

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

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2024

17,050,000

Additions

1

At 28 February 2025

17,050,001

NET BOOK VALUE

At 28 February 2025

17,050,001

At 29 February 2024

17,050,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Other debtors

649,012

334,204

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Other creditors

312,515

37,735

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.25

29.2.24

£

£

Bank loans (see note 9)

6,069,282

5,871,274

Other creditors

29,158

34,716

6,098,440

5,905,990

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

6,069,282

5,752,185

Repayable by instalments

Bank loans more 5 yr by instal

-

119,089

Other creditor includes Bounceback loan of £34,716 [2024 - £29,158]. The loan is unsecured with fixed interest rate and guaranteed by HM Government.

9.

LOANS

An analysis of the maturity of loans is given below:

28.2.25

29.2.24

£

£

Amounts falling due between two and five years:

Other loans - 2-5 years

29,158

34,716

28.2.25

29.2.24

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

6,069,282

5,752,185

Repayable by instalments

Bank loans more 5 yr by instal

-

119,089

10.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.25

29.2.24

£

£

Bank loans

6,069,282

5,871,274

Bank loan is secured by the way of first charge against the company's investment properties.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.25

29.2.24

value:

£

£

11,450,314

Ordinary

£1

11,450,314

11,450,314

12.

RESERVES

Retained

earnings

£

At 1 March 2024

(9,835

)

Deficit for the year

(5,712

)

At 28 February 2025

(15,547

)