M.E.A. Properties Limited - Accounts to registrar (filleted) - small 18.2

M.E.A. Properties Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 03534700 (England and Wales)



















Financial Statements

for the Year Ended 31 March 2020

for

M.E.A. Properties Limited

M.E.A. Properties Limited (Registered number: 03534700)






Contents of the Financial Statements
for the Year Ended 31 March 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


M.E.A. Properties Limited

Company Information
for the Year Ended 31 March 2020







DIRECTOR: M W J Evans





SECRETARY: Mrs E L Evans





REGISTERED OFFICE: 45 Trowell Grove
Long Eaton
Nottingham
Nottinghamshire
NG10 4AY





REGISTERED NUMBER: 03534700 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

M.E.A. Properties Limited (Registered number: 03534700)

Balance Sheet
31 March 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 783 1,317
Investment property 5 340,374 340,374
341,157 341,691

CURRENT ASSETS
Debtors 6 489 923
Cash at bank 65,968 95,406
66,457 96,329
CREDITORS
Amounts falling due within one year 7 91,967 59,407
NET CURRENT (LIABILITIES)/ASSETS (25,510 ) 36,922
TOTAL ASSETS LESS CURRENT
LIABILITIES

315,647

378,613

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 315,547 378,513
SHAREHOLDERS' FUNDS 315,647 378,613

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 November 2020 and were signed by:



M W J Evans - Director


M.E.A. Properties Limited (Registered number: 03534700)

Notes to the Financial Statements
for the Year Ended 31 March 2020

1. STATUTORY INFORMATION

M.E.A. Properties Limited 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the value of rents receivable for the year. Turnover is recognised in the period to which it relates.

Investment property
Investment property is not depreciated but is revalued annually at its fair value in accordance with the Financial Reporting Standard 102 (Section 1A). Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account and transferred into a fair value reserve.

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 2 (2019 - NIL ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2019
and 31 March 2020 8,037 1,015 9,052
DEPRECIATION
At 1 April 2019 7,059 676 7,735
Charge for year 196 338 534
At 31 March 2020 7,255 1,014 8,269
NET BOOK VALUE
At 31 March 2020 782 1 783
At 31 March 2019 978 339 1,317

M.E.A. Properties Limited (Registered number: 03534700)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2020

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2019
and 31 March 2020 340,374
NET BOOK VALUE
At 31 March 2020 340,374
At 31 March 2019 340,374

Fair value at 31 March 2020 is represented by:

£   
Valuation in 2020 340,374

If the properties had not been revalued they would have been included at the following historical cost:

2020 2019
£    £   
Cost 352,947 352,947
Aggregate depreciation (76,103 ) (69,044 )

Investment property was valued on a fair value basis on 31 March 2020 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade debtors 197 631
Prepayments 292 292
489 923

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Tax - 3,679
Other creditors 46,341 30,013
Director's current account 37,258 21,768
Accruals and deferred income 8,368 3,947
91,967 59,407