Martin Homes Hassocks Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11506673 (England and Wales)

MARTIN HOMES HASSOCKS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D S Martin

J N Webb

REGISTERED OFFICE:

25 Berkeley Square

London

W1J 6HN

REGISTERED NUMBER:

11506673 (England and Wales)

ACCOUNTANTS:

Hilden Park Accountants Limited

Hilden Park House

79 Tonbridge Road

Hildenborough

Tonbridge

Kent

TN11 9BH

CURRENT ASSETS

Stocks

1,150,000

2,400,000

Debtors

13,419

11,917

Cash at bank

-

161,342

1,163,419

2,573,259

CREDITORS

Amounts falling due within one year

10,734

147,458

NET CURRENT ASSETS

1,152,685

2,425,801

TOTAL ASSETS LESS CURRENT LIABILITIES

1,152,685

2,425,801

CREDITORS

Amounts falling due after more than one year

1,163,694

2,458,670

NET LIABILITIES

(11,009

)

(32,869

)

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

(21,009

)

(42,869

)

(11,009

)

(32,869

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 August 2021 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2022 and were signed on its behalf by:

J N Webb - Director

D S Martin - Director

1.	STATUTORY INFORMATION

Martin Homes Hassocks 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 recognised at the fair value of the consideration received or receivable for goods and services

provided in the normal course of business , and is shown net of VAT and other sales related taxes . The fair

value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration

is the present value of the future receipts. The difference between the fair value of the consideration and

the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the

goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be

measured reliably, it is probable that the economic benefits associated with the transaction will flow to the

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

Revenue from contracts for the provision of professional services is recognised by reference to the stage of

completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.

The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly

staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably,

revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered .

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost

comprises direct materials and, where applicable, direct labour costs and those overheads that have been

incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and

replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of

stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss

in profit or loss. Reversals of impairment losses are also 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 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.

3.	EMPLOYEES AND DIRECTORS

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