M1 Homes Ltd - Period Ending 2015-10-31

Registration number: SC460644

M1 Homes Ltd

Unaudited Abbreviated Accounts

for the Period from 1 June 2014 to 31 October 2015

M1 Homes Ltd
Contents

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

M1 Homes Ltd
(Registration number: SC460644)
Abbreviated Balance Sheet at 31 October 2015

	Note	31 October 2015 £	31 May 2014 £
Current assets
Stocks		560,000	464,385
Debtors		1,033	601
Cash at bank and in hand		340,249	6,395
		901,282	471,381
Creditors: Amounts falling due within one year		(662,259)	(499,900)
Net assets/(liabilities)		239,023	(28,519)
Capital and reserves
Called up share capital	2	100	100
Profit and loss account		238,923	(28,619)
Shareholders' funds/(deficit)		239,023	(28,519)

For the year ending 31 October 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 27 July 2016 and signed on its behalf by:

.........................................
Mr Melvyn Douglas Stephen
Director

The notes on page 2 form an integral part of these financial statements.
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M1 Homes Ltd
Notes to the Abbreviated Accounts for the Period from 1 June 2014 to 31 October 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover comprises the total proceeds receivable for the sale of properties developed by the company.

Work in progress

Work in progress is valued at net realisable value. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

2	Share capital

Allotted, called up and fully paid shares

	31 October 2015			31 May 2014
		No.	£		No.	£
Ordinary of £1 each		100	100		100	100

3	Related party transactions

Other related party transactions

During the period the company made the following related party transactions:

Beaufort Property Company Limited
(Shareholder)
During the year the above operated a loan account with the company. There are no repayment terms and no interest is due on the balance. At the balance sheet date the amount due to Beaufort Property Company Limited was £199,939 (2014 - £199,950).

Ian Oliva
(Director)
During the year the above operated a loan account with the company. There are no repayment terms and no interest is due on the balance. At the balance sheet date the amount due to Ian Oliva was £399,950 (2014 - £299,950).

Control

The company is controlled by the director s who indirectly own 100% of the called up share capital .

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