| Madia Investments Limited |
| Registered number: |
00708563 |
| Directors' Report |
|
| The directors present their report and accounts for the year ended 31 December 2018. |
|
| Principal activities |
| The company's principal activity during the year continued to be the management of Grove Avenue Estate, Sutton, the freeholds of which are owned by Grove Avenue Limited, Company No.3378441, which is the holding company. |
|
| Directors |
| The following persons served as directors during the year: |
|
|
A Danaee |
|
P D Davison |
|
J Kent - Appointed 2/3/2018 |
|
M Nudd - Appointed 2/3/2018 |
|
T Jones - Resigned 26/4/2018 |
|
S Olu Idowu - Appointed 23/11/2018 |
|
| Political donations |
| The company during the year made no political donations. |
|
| Small company provisions |
| This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
| This report was approved by the board on 15 February 2019 and signed on its behalf. |
|
|
|
|
|
| Director |
|
| Madia Investments Limited |
| Registered number: |
00708563 |
| Balance Sheet |
| as at 31 December 2018 |
|
| Notes |
|
|
2018 |
|
|
2017 |
| £ |
£ |
| Current assets |
| Debtors |
3 |
|
15,616 |
|
|
14,195 |
| Cash at bank and in hand |
|
|
306,903 |
|
|
275,898 |
|
|
|
322,519 |
|
|
290,093 |
|
| Creditors: amounts falling due within one year |
4 |
|
(40,612) |
|
|
(37,249) |
|
| Net current assets |
|
|
|
281,907 |
|
|
252,844 |
|
| Total assets less current liabilities |
|
|
|
281,907 |
|
|
252,844 |
|
| Net assets |
|
|
|
281,907 |
|
|
252,844 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
2 |
|
|
2 |
| Profit and loss account |
|
|
|
281,905 |
|
|
252,842 |
|
| Shareholders' funds |
|
|
|
281,907 |
|
|
252,844 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The detailed profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| A Danaee |
| Director |
| Approved by the board on 15 February 2019 |
|
| Madia Investments Limited |
| Notes to the Accounts |
| for the year ended 31 December 2018 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises of service charges to leaseholders. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
| 2 |
Employees |
2018 |
|
2017 |
| Number |
Number |
|
|
Average number of persons employed by the company |
- |
|
- |
|
|
|
|
|
|
|
|
|
| 3 |
Debtors |
2018 |
|
2017 |
| £ |
£ |
|
|
Trade debtors |
15,616 |
|
14,195 |
|
|
|
|
|
|
15,616 |
|
14,195 |
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Trade creditors |
14,485 |
|
8,374 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
26,086 |
|
28,850 |
|
Taxation and social security costs |
41 |
|
25 |
|
|
|
|
|
|
40,612 |
|
37,249 |
|
|
|
|
|
|
|
|
|
| 5 |
Events after the reporting date |
|
|
The directors were not aware of any events after the reporting date which would materially affect the financial statements at the year end.
|
|
| 6 |
Pension commitments |
|
|
The company during the year had no pension commitments. |
|
| 7 |
Contingent liabilities |
|
|
The directors were not aware of the existence of any contingent liability at the year end. |
|
| 8 |
Related party transactions |
|
|
The company is a wholly owned subsidiary of Grove Avenue Limited (Registration Number 03378441). Grove Avenue Limited holds the 2 issued ordinary shares of Madia Investments Limited. Included in creditors is an amount owed to Grove Avenue Limited of £26,086 (2017 - £28,850). |
|
| 9 |
Controlling party |
|
|
The company for the whole of the year was controlled by the directors. |
|
| 10 |
Other information |
|
|
Madia Investments Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
C/O White and Sons |
|
104 High Street |
|
Dorking |
|
RH4 1AZ |
