MAIDSTONE (NPR) PROPERTY LTD Filleted accounts for Companies House (small and micro)

MAIDSTONE (NPR) PROPERTY LTD Filleted accounts for Companies House (small and micro)

MAIDSTONE (NPR)PROPERTY LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 05813564
MAIDSTONE (NPR) PROPERTY LTD
Filleted Unaudited Financial Statements
31 May 2022
MAIDSTONE (NPR) PROPERTY LTD
Statement of Financial Position
31 May 2022
2022
2021
Note
£
£
£
Fixed assets
Tangible assets
4
1,300,000
1,300,000
Investments
5
–
1
------------
------------
1,300,000
1,300,001
Current assets
Debtors
6
1,406,127
554,449
Cash at bank and in hand
21,462
835,556
------------
------------
1,427,589
1,390,005
Creditors: amounts falling due within one year
7
104,840
95,031
------------
------------
Net current assets
1,322,749
1,294,974
------------
------------
Total assets less current liabilities
2,622,749
2,594,975
Creditors: amounts falling due after more than one year
8
695,486
721,389
Provisions
Taxation including deferred tax
141,000
141,000
------------
------------
Net assets
1,786,263
1,732,586
------------
------------
Capital and reserves
Called up share capital
1
1
Revaluation reserve
802,088
802,088
Profit and loss account
984,174
930,497
------------
------------
Shareholders funds
1,786,263
1,732,586
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MAIDSTONE (NPR) PROPERTY LTD
Statement of Financial Position (continued)
31 May 2022
These financial statements were approved by the board of directors and authorised for issue on 24 August 2023 , and are signed on behalf of the board by:
H Iwanier
Director
Company registration number: 05813564
MAIDSTONE (NPR) PROPERTY LTD
Notes to the Financial Statements
Year ended 31 May 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 18 Armitage Road, Golders Green, London, NW11 8RA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively .
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
4. Tangible assets
Land and buildings
£
Cost
At 1 June 2021 and 31 May 2022
1,300,000
------------
Depreciation
At 1 June 2021 and 31 May 2022
–
------------
Carrying amount
At 31 May 2022
1,300,000
------------
At 31 May 2021
1,300,000
------------
The directors considered that the cost price of the property represents the current market value.
5. Investments
Investment in subsidiary
£
Cost
At 1 June 2021
1
Disposals
( 1)
----
At 31 May 2022
–
----
Impairment
At 1 June 2021 and 31 May 2022
–
----
Carrying amount
At 31 May 2022
–
----
At 31 May 2021
1
----
6. Debtors
2022
2021
£
£
Other debtors
1,406,127
554,449
------------
---------
7. Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
25,903
26,410
Corporation tax
24,489
28,531
Other creditors
54,448
40,090
---------
--------
104,840
95,031
---------
--------
8. Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
695,486
721,389
---------
---------