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Company Registration No. 12068882 (England and Wales)
Midlands Property Specialists Limited Unaudited accounts for the year ended 30 June 2023
Midlands Property Specialists Limited Unaudited accounts Contents
Page
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Midlands Property Specialists Limited Company Information for the year ended 30 June 2023
Directors
Mr P S Bindra Mrs S K Bindra
Company Number
12068882 (England and Wales)
Registered Office
1 JUNO CLOSE GLENFIELD LEICESTER LE3 8SX UNITED KINGDOM
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Midlands Property Specialists Limited Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,359,759 
330,816 
Current assets
Debtors
87,904 
- 
Cash at bank and in hand
19,393 
26,128 
107,297 
26,128 
Creditors: amounts falling due within one year
(34,661)
(14,440)
Net current assets
72,636 
11,688 
Total assets less current liabilities
1,432,395 
342,504 
Creditors: amounts falling due after more than one year
(1,059,971)
(370,380)
Net assets/(liabilities)
372,424 
(27,876)
Capital and reserves
Called up share capital
434,100 
4 
Profit and loss account
(61,676)
(27,880)
Shareholders' funds
372,424 
(27,876)
For the year ending 30 June 2023 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 directors acknowledge their 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 of Directors and authorised for issue on 25 October 2023 and were signed on its behalf by
Mr P S Bindra Director Company Registration No. 12068882
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Midlands Property Specialists Limited Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
Midlands Property Specialists Limited is a private company, limited by shares, registered in England and Wales, registration number 12068882. The registered office is 1 JUNO CLOSE, GLENFIELD, LEICESTER, LE3 8SX, UNITED KINGDOM.
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:
Land & buildings
Not depreciated
4
Tangible fixed assets
Land & buildings 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 July 2022
330,816 
- 
330,816 
Additions
1,020,542 
29,330 
1,049,872 
At 30 June 2023
1,351,358 
29,330 
1,380,688 
Depreciation
On disposals
20,929 
- 
20,929 
At 30 June 2023
20,929 
- 
20,929 
Net book value
At 30 June 2023
1,330,429 
29,330 
1,359,759 
At 30 June 2022
330,816 
- 
330,816 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
87,904 
- 
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Midlands Property Specialists Limited Notes to the Accounts for the year ended 30 June 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Other creditors
34,161 
14,440 
Accruals
500 
- 
34,661 
14,440 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
332,605 
272,919 
Loans from directors
727,366 
97,461 
1,059,971 
370,380 
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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