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REGISTERED NUMBER: 03534212 (England and Wales)

















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

MEERA DEVELOPMENTS LIMITED

MEERA DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03534212)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


MEERA DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr P Barai
Mrs S P Barai





SECRETARY: Mrs S P Barai





REGISTERED OFFICE: 505 Pinner Road
Harrow
Middlesex
HA2 6EH





REGISTERED NUMBER: 03534212 (England and Wales)





ACCOUNTANTS: STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MEERA DEVELOPMENTS LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Meera Developments Limited for the year ended 31 March 2023 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Meera Developments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Meera Developments Limited and state those matters that we have agreed to state to the Board of Directors of Meera Developments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Meera Developments Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Meera Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Meera Developments Limited. You consider that Meera Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Meera Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH


16 November 2023

MEERA DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03534212)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 73,781 235
Investment property 5 2,400,000 2,400,000
2,473,781 2,400,235

CURRENT ASSETS
Debtors 6 45,000 276,000
Cash at bank 427,178 281,936
472,178 557,936
CREDITORS
Amounts falling due within one year 7 59,232 50,336
NET CURRENT ASSETS 412,946 507,600
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,886,727

2,907,835

CREDITORS
Amounts falling due after more than one year 8 (528,226 ) (481,375 )

PROVISIONS FOR LIABILITIES (233,977 ) (219,959 )
NET ASSETS 2,124,524 2,206,501

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 2,124,424 2,206,401
SHAREHOLDERS' FUNDS 2,124,524 2,206,501

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

MEERA DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03534212)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 November 2023 and were signed on its behalf by:





Mr P Barai - Director


MEERA DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03534212)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Meera Developments 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 rent receivable, net of value added tax.

Turnover is recognised when the company has a right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.33% on reducing balance

Investment property
Investment property whose fair value can be measured reliably without undue cost or effort shall be measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

MEERA DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03534212)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 2,372 - 850 3,222
Additions - 75,154 - 75,154
At 31 March 2023 2,372 75,154 850 78,376
DEPRECIATION
At 1 April 2022 2,172 - 815 2,987
Charge for year 30 1,566 12 1,608
At 31 March 2023 2,202 1,566 827 4,595
NET BOOK VALUE
At 31 March 2023 170 73,588 23 73,781
At 31 March 2022 200 - 35 235

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 2,400,000
NET BOOK VALUE
At 31 March 2023 2,400,000
At 31 March 2022 2,400,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2005 227,764
Valuation in 2012 140,000
Valuation in 2014 571,619
Valuation in 2015 330,000
Valuation in 2016 30,000
Valuation in 2017 125,000
Valuation in 2019 (15,906 )
Valuation in 2022 125,000
Cost 866,523
2,400,000

MEERA DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03534212)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. INVESTMENT PROPERTY - continued

In the opinion of the directors the fair value of the investment properties as at 31 March 2023 is not significantly different to that stated above.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by connected company 45,000 276,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 41,175 45,553
Hire purchase contracts 7,390 -
Tax - 1,145
Social security and other taxes 33 -
Directors' current accounts 6,475 139
Accrued expenses 4,159 3,499
59,232 50,336

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 27,709 43,677
Bank loans - 2-5 years 30,899 63,163
Bank loans more 5 yr by instal 411,248 374,535
Hire purchase contracts 58,370 -
528,226 481,375

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 411,248 374,535

MEERA DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03534212)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 511,031 526,928

The bank loans and mortgages are secured against the company's investment properties. The repayments on these loans varies and the rates of interest also varies between 2.77% to 6.45% per annum.

10. CALLED UP SHARE CAPITAL

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

11. RESERVES
Retained
earnings
£   

At 1 April 2022 2,206,401
Deficit for the year (29,777 )
Dividends (52,200 )
At 31 March 2023 2,124,424

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, the company paid dividends of £52,200 (2022: £52,200) to the directors.

At the year end, the company owed £6,475 (2022: £139) to the directors.

13. RELATED PARTY DISCLOSURES

At the year end the company was owed £45,000 (2022: £Nil) by Flawless Beauty By Sheetal Ltd, a company in which one of the directors has a beneficial interest. The amount owed is recoverable on demand and is interest free.

14. ULTIMATE CONTROLLING PARTY

The directors are the ultimate controllers as they hold all of the issued share capital of the company.