ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Registered number: 06455491

MADDEN & WINKETT DEVELOPMENTS LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

MADDEN & WINKETT DEVELOPMENTS LTD

REGISTERED NUMBER: 06455491

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	3		12,904		12,904
			12,904		12,904
Current assets
Stocks		264,415		264,415
Cash at bank and in hand	4	541		541
		264,956		264,956
Creditors: amounts falling due within one year	5	(329,606)		(329,606)
Net current liabilities			(64,650)		(64,650)
Total assets less current liabilities			(51,746)		(51,746)
Creditors: amounts falling due after more than one year	6		(38,454)		(38,454)

Net liabilities			(90,200)		(90,200)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(90,300)	(90,300)
	(90,200)	(90,200)

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MADDEN & WINKETT DEVELOPMENTS LTD

REGISTERED NUMBER: 06455491

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2024

For the year ended 31 December 2024 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 July 2026.

Mr D J Winkett	Mr N J Madden
Director	Director

The notes on pages 3 to 6 form part of these financial statements.

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MADDEN & WINKETT DEVELOPMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Madden & Winkett Developments Ltd is a private company, limited by shares, registered in England and Wales. The company's registered office address is 6 Gordon Rowley Way, Morriston, Swansea, SA6 6PL.

The presentation currency of the financial statements is the Pound Sterling (£).

Monetary amounts in these financial statements are shown to the nearest (£).

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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MADDEN & WINKETT DEVELOPMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical 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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery

25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively 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 profit or loss.

2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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MADDEN & WINKETT DEVELOPMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	Tangible fixed assets

		Plant and machinery
		£
	Cost or valuation
	At 1 January 2024	76,852
	At 31 December 2024	76,852
	Depreciation
	At 1 January 2024	63,948
	At 31 December 2024	63,948
	Net book value
	At 31 December 2024	12,904
	At 31 December 2023	12,904

4.	Cash and cash equivalents
		2024	2023
		£	£

Cash at bank and in hand	541	541
	541	541

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MADDEN & WINKETT DEVELOPMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

5.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Other taxation and social security	1,717	1,717
Obligations under finance lease and hire purchase contracts	4,661	4,661
Other creditors	320,048	320,048
Accruals and deferred income	3,180	3,180
	329,606	329,606

6.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

Bank loans	27,596	27,596
Net obligations under finance leases and hire purchase contracts	10,858	10,858
	38,454	38,454


Amounts falling due 1-2 years
Bank loans	27,596	27,596
	27,596	27,596


	27,596	27,596

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