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Company Registration No. 11450480 (England and Wales)
MODEL PROPERTY LIMITED Unaudited accounts for the year ended 31 July 2022
MODEL PROPERTY LIMITED Unaudited accounts Contents
Page
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MODEL PROPERTY LIMITED Company Information for the year ended 31 July 2022
Director
MR MUHAMMAD ASHFAQ
Company Number
11450480 (England and Wales)
Registered Office
11 BLENHEIM CLOSE HALE ALTRINCHAM WA14 2RX ENGLAND
Accountants
THE TAXCOM ACCOUNTANTS LLP 109 CHEETHAM HILL ROAD MANCHESTER M8 8PY
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MODEL PROPERTY LIMITED Statement of financial position as at 31 July 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
800,000 
- 
Investment property
- 
569,125 
800,000 
569,125 
Current assets
Debtors
31,300 
(4,949)
Cash at bank and in hand
67,058 
3,865 
98,358 
(1,084)
Creditors: amounts falling due within one year
(93,798)
(367,592)
Net current assets/(liabilities)
4,560 
(368,676)
Total assets less current liabilities
804,560 
200,449 
Creditors: amounts falling due after more than one year
(613,500)
(232,990)
Provisions for liabilities
Deferred tax
(43,866)
- 
Net assets/(liabilities)
147,194 
(32,541)
Capital and reserves
Called up share capital
2 
2 
Revaluation reserve
187,009 
- 
Profit and loss account
(39,817)
(32,543)
Shareholders' funds
147,194 
(32,541)
For the year ending 31 July 2022 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 October 2023 and were signed on its behalf by
MR MUHAMMAD ASHFAQ Director Company Registration No. 11450480
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MODEL PROPERTY LIMITED Notes to the Accounts for the year ended 31 July 2022
1
Statutory information
MODEL PROPERTY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11450480. The registered office is 11 BLENHEIM CLOSE, HALE, ALTRINCHAM, WA14 2RX, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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MODEL PROPERTY LIMITED Notes to the Accounts for the year ended 31 July 2022
4
Tangible fixed assets
Land & buildings 
£ 
Cost or valuation
At valuation 
At 1 August 2021
- 
Revaluations
230,875 
Transfer from investment property
569,125 
At 31 July 2022
800,000 
Depreciation
At 31 July 2022
- 
Net book value
At 31 July 2022
800,000 
5
Investment property
2022 
£ 
Fair value at 1 August 2021
569,125 
Transfers to tangible fixed assets
(569,125)
At 31 July 2022
- 
6
Debtors
2022 
2021 
£ 
£ 
Amounts falling due after more than one year
Accrued income and prepayments
- 
(4,949)
Other debtors
31,300 
- 
31,300 
(4,949)
7
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Other creditors
4,949 
- 
Loans from directors
87,849 
366,842 
Accruals
1,000 
750 
93,798 
367,592 
8
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
607,500 
226,990 
Other creditors
6,000 
6,000 
613,500 
232,990 
9
Share capital
2022 
2021 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
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MODEL PROPERTY LIMITED Notes to the Accounts for the year ended 31 July 2022
10
Transactions with related parties
Long-term other creditors' amount of £6,000 is the loan received from a related company, Proficient Medics Limited. Long-term other debtors' amount of £31,300 is the loan provided to a related company, Model Homes Limited.
11
Average number of employees
During the year the average number of employees was 0 (2021: 0).
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