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REGISTERED NUMBER: 05873729 (England and Wales)










Madison Property Developments Limited

Unaudited Financial Statements

for the Period 1 January 2023 to 31 July 2023






Madison Property Developments Limited (Registered number: 05873729)






Contents of the Financial Statements
for the Period 1 January 2023 to 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Madison Property Developments Limited

Company Information
for the Period 1 January 2023 to 31 July 2023







DIRECTORS: R I Wood
D E Wood





SECRETARY: R I Wood





REGISTERED OFFICE: Boldre Mead
Southampton Road
Boldre
Hampshire
SO41 8ND





REGISTERED NUMBER: 05873729 (England and Wales)

Madison Property Developments Limited (Registered number: 05873729)

Balance Sheet
31 July 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 57 76

CURRENT ASSETS
Debtors 5 81 81

CREDITORS
Amounts falling due within one year 6 - (4,029 )
NET CURRENT ASSETS/(LIABILITIES) 81 (3,948 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

138

(3,872

)

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 38 (3,972 )
SHAREHOLDERS' FUNDS 138 (3,872 )

Madison Property Developments Limited (Registered number: 05873729)

Balance Sheet - continued
31 July 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 2023 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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 20 October 2023 and were signed on its behalf by:





R I Wood - Director


Madison Property Developments Limited (Registered number: 05873729)

Notes to the Financial Statements
for the Period 1 January 2023 to 31 July 2023

1. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

2. ACCOUNTING POLICIES

BASIS OF PREPARATION
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's functional and presentational currency is pound sterling.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES
The principal accounting policies applied in the preparation of these financial statements are set out below.
These policies have been consistently applied to all the years presented, unless otherwise stated.

GOING CONCERN
The company ceased trading on 31 July 2018 and has been dormant since this date.

TANGIBLE ASSETS
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

DEPRECIATION
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset classDepreciation method and rate
Fixtures and fittings15% straight line basis
Computer equipment25% reducing balance basis
Plant and machinery25% reducing balance basis

REVENUE RECOGNITION
Turnover represents amounts chargeable, net of value added tax, in respect of sale of properties to customers.

The company recognizes revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

TAXATION
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Madison Property Developments Limited (Registered number: 05873729)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 31 July 2023

2. ACCOUNTING POLICIES - continued
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 period 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.

CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

WORK IN PROGRESS
Work in progress is valued at the lower of cost and net realisable value. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

If the outcome of a construction contract can be estimated reliably, revenue and costs are recognised in proportion to the stage of completion of contract activity. If the cumulative contract output (costs incurred plus profits disclosed) exceeds payments on account on an individual contract, the contract is disclosed under Debtors. If there is a negative balance after deducting contract payments on account, the amount is disclosed under Creditors. Anticipated losses on contracts are recognised in full, based on an assessment of identifiable risks.

TRADE CREDITORS
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Madison Property Developments Limited (Registered number: 05873729)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 31 July 2023

2. ACCOUNTING POLICIES - continued

BORROWINGS
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

SHARE CAPITAL
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

DIVIDENDS
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023
and 31 July 2023 163 3,610 3,093 6,866
DEPRECIATION
At 1 January 2023 135 3,610 3,045 6,790
Charge for period 7 - 12 19
At 31 July 2023 142 3,610 3,057 6,809
NET BOOK VALUE
At 31 July 2023 21 - 36 57
At 31 December 2022 28 - 48 76

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation tax 81 81

Madison Property Developments Limited (Registered number: 05873729)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 31 July 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Accruals and deferred income - 4,029

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary shares £1 100 100