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Registration number: 03148905

Merritt Homes South East Limited
Unaudited Financial Statements - Companies house filing
for the Year Ended 31 March 2026

Merritt Homes South East Limited

Contents

Statement of Financial Position | 1 to 2
Notes to the Unaudited Financial Statements | 3 to 6

Merritt Homes South East Limited

(Registration number: 03148905)
Statement of Financial Position as at 31 March 2026

| Note | 2026 £ | 2025 £
Fixed assets |  |  |
Tangible assets | 4 | 22,790 | 28,488
Current assets |  |  |
Stocks | 5 | 776,051 | 699,903
Debtors | 6 | 28,524 | 9,196
Cash at bank and in hand |  | 4,433 | 5,211
|  | 809,008 | 714,310
Creditors: Amounts falling due within one year | 7 | (500,107) | (423,095)
Net current assets |  | 308,901 | 291,215
Total assets less current liabilities |  | 331,691 | 319,703
Creditors: Amounts falling due after more than one year | 7 | (420,000) | (330,000)
Net liabilities |  | (88,309) | (10,297)
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Profit and loss account |  | (88,409) | (10,397)
Shareholders' deficit |  | (88,309) | (10,297)

For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 8 July 2026 and signed on its behalf by:

Merritt Homes South East Limited

(Registration number: 03148905)
Statement of Financial Position as at 31 March 2026

......................................... Mr O C Merritt Director |  |

Merritt Homes South East Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY, United Kingdom.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Merritt Homes South East Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 20% reducing balance
Office equipment | 20% reducing balance
Motor vehicles | 20% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Merritt Homes South East Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as other creditors and loans from related parties.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2025 - 2).

4 | Tangible assets

| Plant and machinery £ | Office equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 April 2025 | 1,875 | 7,780 | 39,300 | 48,955
At 31 March 2026 | 1,875 | 7,780 | 39,300 | 48,955
Depreciation
At 1 April 2025 | 1,149 | 5,170 | 14,148 | 20,467
Charge for the year | 147 | 521 | 5,030 | 5,698
At 31 March 2026 | 1,296 | 5,691 | 19,178 | 26,165
Carrying amount
At 31 March 2026 | 579 | 2,089 | 20,122 | 22,790
At 31 March 2025 | 726 | 2,610 | 25,152 | 28,488

5 | Stocks

| 2026 £ | 2025 £
Work in progress | 776,051 | 699,903

6 | Debtors

| 2026 £ | 2025 £
Other debtors | 28,524 | 9,196
| 28,524 | 9,196

Merritt Homes South East Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

7 | Creditors

Creditors: amounts falling due within one year

| 2026 £ | 2025 £
Taxation and social security | 1,700 | 13
Accruals and deferred income | 26,383 | 7,555
Other creditors | 472,024 | 415,527
| 500,107 | 423,095

Creditors: amounts falling due after more than one year

| Note | 2026 £ | 2025 £
Loans and borrowings | 8 | 420,000 | 330,000

8 | Loans and borrowings

Non-current loans and borrowings

| 2026 £ | 2025 £
Other borrowings | 420,000 | 330,000

9 | Related party transactions

Other creditors disclosed within amounts due within one year contain loans from directors totalling £458,700 (2025 - £413,590). The loan is unsecured, interest free, and repayable on demand.

10 | Going concern

The financial statements have been prepared on a going concern basis due to the continuing support of the directors.