Make One Holdings Ltd - Limited company accounts 20.1

REGISTERED NUMBER: 12302074 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31st December 2021

for

Make One Holdings Ltd

Page

Company Information

1

Report of the Directors

2

Report of the Accountants

3

Profit and loss account

4

Balance Sheet

5

Notes to the Financial Statements

7

DIRECTORS:

Mr D Westwood

Mr M L Field

REGISTERED OFFICE:

Central Chambers

227 London Road

Hadleigh

Benfleet

Essex

SS7 2RF

REGISTERED NUMBER:

12302074 (England and Wales)

ACCOUNTANTS:

Field & Co LLP

Central Chambers

227 London Road

Hadleigh

Benfleet

Essex

SS7 2RF

The directors present their report with the financial statements of the Company for the year ended 31st December 2021.

PRINCIPAL ACTIVITY

The principal activity of the Company in the year under review was that of a holding company.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st January 2021 to the date of this report.

Mr D Westwood

Mr M L Field

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mr D Westwood - Director

24th May 2022

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st December 2021 set out on pages four to fourteen and you consider that the Company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Field & Co LLP

Central Chambers

227 London Road

Hadleigh

Benfleet

Essex

SS7 2RF

Date: .............................................

TURNOVER

1,133,291

357,750

Administrative expenses

1,098,015

301,358

OPERATING PROFIT

4

35,276

56,392

Income from shares in group undertakings

320,000

85,000

355,276

141,392

Interest payable and similar expenses

5

86

-

PROFIT BEFORE TAXATION

355,190

141,392

Tax on profit

6

(7,088

)

12,877

PROFIT FOR THE FINANCIAL YEAR

362,278

128,515

FIXED ASSETS

Tangible assets

8

30,469

18,164

Investments

9

115,200

200

145,669

18,364

CURRENT ASSETS

Debtors

10

685,541

229,734

Cash at bank and in hand

53,834

82,700

739,375

312,434

CREDITORS

Amounts falling due within one year

11

861,030

222,398

NET CURRENT (LIABILITIES)/ASSETS

(121,655

)

90,036

TOTAL ASSETS LESS CURRENT LIABILITIES

24,014

108,400

CREDITORS

Amounts falling due after more than one year

12

(15,000

)

(18,000

)

PROVISIONS FOR LIABILITIES

(5,789

)

(3,451

)

NET ASSETS

3,225

86,949

CAPITAL AND RESERVES

Called up share capital

13

106

100

Retained earnings

14

3,119

86,849

SHAREHOLDERS' FUNDS

3,225

86,949

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31st December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 24th May 2022 and were signed on its behalf by:

Mr D Westwood - Director

1.	STATUTORY INFORMATION

Make One Holdings 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.

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.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2020 - 6 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

Period

6.11.19

Year Ended

to

31.12.21

31.12.20

£

£

Depreciation - owned assets

14,422

8,988

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

6.11.19

Year Ended

to

31.12.21

31.12.20

£

£

Interest payable

86

-

6.

TAXATION

Analysis of the tax (credit)/charge

The tax (credit)/charge on the profit for the year was as follows:

Period

6.11.19

Year Ended

to

31.12.21

31.12.20

£

£

Current tax:

UK corporation tax

(9,426

)

9,426

Deferred tax

2,338

3,451

Tax on profit

(7,088

)

12,877

7.

DIVIDENDS

Period

6.11.19

Year Ended

to

31.12.21

31.12.20

£

£

Ordinary Shares shares of £1 each

Final

446,008

41,666

8.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1st January 2021

27,152

Additions

26,727

At 31st December 2021

53,879

DEPRECIATION

At 1st January 2021

8,988

Charge for year

14,422

At 31st December 2021

23,410

NET BOOK VALUE

At 31st December 2021

30,469

At 31st December 2020

18,164

9.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st January 2021

200

Additions

115,000

At 31st December 2021

115,200

NET BOOK VALUE

At 31st December 2021

115,200

At 31st December 2020

200

The Company's investments at the Balance Sheet date in the share capital of companies include the following:

CE Sourcing Limited

Registered office: Central Chambers, 227 London Road, Hadleigh, Benfleet, Essex SS7 2RF

Nature of business: Investment Company

%

Class of shares:

holding

Ordinary Shares

100.00

Ordinary A Shares

100.00

31/12/21

31/12/20

£

£

Aggregate capital and reserves

2,968

3,621

Profit for the year/period

319,347

86,397

Make One Construct Limited

Registered office: Central Chambers, 227 London Road, Hadleigh, Benfleet, Essex SS7 2RF

Nature of business: Construction

%

Class of shares:

holding

Ordinary

100.00

31/12/21

31/12/20

£

£

Aggregate capital and reserves

138,708

36,656

Profit for the year/period

102,052

46,190

Falkus Joinery Limited

Registered office: Central Chambers, 227 London Road, Hadleigh, Benfleet, Essex SS7 2RF

Nature of business: Joinery

%

Class of shares:

holding

Ordinary Shares

100.00

31/12/21

£

Aggregate capital and reserves

1,877,484

Profit for the period/year

951,908

10.

DEBTORS

31/12/21

31/12/20

£

£

Amounts falling due within one year:

Trade debtors

56,629

-

Amounts owed by group undertakings

508,003

7,546

Other debtors

120,909

137,188

685,541

144,734

Amounts falling due after more than one year:

Other debtors

-

85,000

Aggregate amounts

685,541

229,734

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/21

31/12/20

£

£

Payments on account

-

42,000

Trade creditors

187,192

66,412

Amounts owed to group undertakings

537,588

-

Taxation and social security

51,313

40,087

Other creditors

84,937

73,899

861,030

222,398

12.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/21

31/12/20

£

£

Other creditors

15,000

18,000

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/21

31/12/20

value:

£

£

100

Ordinary Shares

£1

100

100

1

Ordinary "A" Share

£1

1

-

1

Ordinary "B" Share

£1

1

-

1

Ordinary "C" Share

£1

1

-

1

Ordinary "D" Share

£1

1

-

1

Ordinary "E" Share

£1

1

-

1

Ordinary "F" Share

£1

1

-

106

100

Allotted and issued:

Number:

Class:

Nominal

31/12/21

31/12/20

value:

£

£

1

Ordinary "A" Shares

£1

1

-

1

Ordinary "B" Shares

£1

1

-

1

Ordinary "C" Shares

£1

1

-

1

Ordinary "D" Shares

£1

1

-

1

Ordinary "E" Shares

£1

1

-

1

Ordinary "F" Shares

£1

1

-

6

-

The following shares were issued during the year for cash at par :

1 Ordinary "A" Share share of £1

1 Ordinary "B" Share share of £1

1 Ordinary "C" Share share of £1

1 Ordinary "D" Share share of £1

1 Ordinary "E" Share share of £1

1 Ordinary "F" Share share of £1

14.

RESERVES

Retained

earnings

£

At 1st January 2021

86,849

Profit for the year

362,278

Dividends

(446,008

)

At 31st December 2021

3,119

15.	RELATED PARTY DISCLOSURES

During the year Make One Holdings Limited charged Make One London Limited £1,047,691 (2020 £239,417) for management services.

At the year end Make One Holdings Limited owed Make One London Limited £537,587 (2020: £7,124) via an interest free inter company loan account.

During the period Make One Holdings Limited charged Make One Construct Limited £85,600 (2020: £118,334) for management service, of which £42,000 remained outstanding at the year end.

At the year end Make One Construct Limited owed Make One Holdings £24,149 (2020: £422) via an interest free inter company loan account.

At the year end CE Sourcing Limited owed Make One Holdings Limited £405,000 (2020: £85,000) via an interest free inter company loan account.

At the year end Falkus Joinery Limited owed Make One Holdings Limited £24,605 via an interest free inter company loan.

At the year end Meyrin House Developments Limited owed Make One Holdings Limited £54,247 via an interest free inter company loan.

16.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr D Westwood.