2022-03-012023-02-282023-02-28false11225000MDM PROPERTY LTD2023-11-2841201iso4217:GBPxbrli:pure112250002022-03-01112250002023-02-28112250002022-03-012023-02-28112250002021-03-01112250002022-02-28112250002021-03-012022-02-2811225000bus:SmallEntities2022-03-012023-02-2811225000bus:AuditExempt-NoAccountantsReport2022-03-012023-02-2811225000bus:FullAccounts2022-03-012023-02-2811225000bus:PrivateLimitedCompanyLtd2022-03-012023-02-2811225000core:WithinOneYear2023-02-2811225000core:AfterOneYear2023-02-2811225000core:WithinOneYear2022-02-2811225000core:AfterOneYear2022-02-2811225000core:ShareCapital2023-02-2811225000core:SharePremium2023-02-2811225000core:RevaluationReserve2023-02-2811225000core:OtherReservesSubtotal2023-02-2811225000core:RetainedEarningsAccumulatedLosses2023-02-2811225000core:ShareCapital2022-02-2811225000core:SharePremium2022-02-2811225000core:RevaluationReserve2022-02-2811225000core:OtherReservesSubtotal2022-02-2811225000core:RetainedEarningsAccumulatedLosses2022-02-2811225000core:LandBuildings2023-02-2811225000core:PlantMachinery2023-02-2811225000core:Vehicles2023-02-2811225000core:FurnitureFittings2023-02-2811225000core:OfficeEquipment2023-02-2811225000core:NetGoodwill2023-02-2811225000core:IntangibleAssetsOtherThanGoodwill2023-02-2811225000core:ListedExchangeTraded2023-02-2811225000core:UnlistedNon-exchangeTraded2023-02-2811225000core:LandBuildings2022-02-2811225000core:PlantMachinery2022-02-2811225000core:Vehicles2022-02-2811225000core:FurnitureFittings2022-02-2811225000core:OfficeEquipment2022-02-2811225000core:NetGoodwill2022-02-2811225000core:IntangibleAssetsOtherThanGoodwill2022-02-2811225000core:ListedExchangeTraded2022-02-2811225000core:UnlistedNon-exchangeTraded2022-02-2811225000core:LandBuildings2022-03-012023-02-2811225000core:PlantMachinery2022-03-012023-02-2811225000core:Vehicles2022-03-012023-02-2811225000core:FurnitureFittings2022-03-012023-02-2811225000core:OfficeEquipment2022-03-012023-02-2811225000core:NetGoodwill2022-03-012023-02-2811225000core:IntangibleAssetsOtherThanGoodwill2022-03-012023-02-2811225000core:ListedExchangeTraded2022-03-012023-02-2811225000core:UnlistedNon-exchangeTraded2022-03-012023-02-2811225000core:MoreThanFiveYears2022-03-012023-02-2811225000core:Non-currentFinancialInstruments2023-02-2811225000core:Non-currentFinancialInstruments2022-02-2811225000dpl:CostSales2022-03-012023-02-2811225000dpl:DistributionCosts2022-03-012023-02-2811225000core:LandBuildings2022-03-012023-02-2811225000core:PlantMachinery2022-03-012023-02-2811225000core:Vehicles2022-03-012023-02-2811225000core:FurnitureFittings2022-03-012023-02-2811225000core:OfficeEquipment2022-03-012023-02-2811225000dpl:AdministrativeExpenses2022-03-012023-02-2811225000core:NetGoodwill2022-03-012023-02-2811225000core:IntangibleAssetsOtherThanGoodwill2022-03-012023-02-2811225000dpl:GroupUndertakings2022-03-012023-02-2811225000dpl:ParticipatingInterests2022-03-012023-02-2811225000dpl:GroupUndertakingscore:ListedExchangeTraded2022-03-012023-02-2811225000core:ListedExchangeTraded2022-03-012023-02-2811225000dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-03-012023-02-2811225000core:UnlistedNon-exchangeTraded2022-03-012023-02-2811225000dpl:CostSales2021-03-012022-02-2811225000dpl:DistributionCosts2021-03-012022-02-2811225000core:LandBuildings2021-03-012022-02-2811225000core:PlantMachinery2021-03-012022-02-2811225000core:Vehicles2021-03-012022-02-2811225000core:FurnitureFittings2021-03-012022-02-2811225000core:OfficeEquipment2021-03-012022-02-2811225000dpl:AdministrativeExpenses2021-03-012022-02-2811225000core:NetGoodwill2021-03-012022-02-2811225000core:IntangibleAssetsOtherThanGoodwill2021-03-012022-02-2811225000dpl:GroupUndertakings2021-03-012022-02-2811225000dpl:ParticipatingInterests2021-03-012022-02-2811225000dpl:GroupUndertakingscore:ListedExchangeTraded2021-03-012022-02-2811225000core:ListedExchangeTraded2021-03-012022-02-2811225000dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-03-012022-02-2811225000core:UnlistedNon-exchangeTraded2021-03-012022-02-2811225000core:NetGoodwill2023-02-2811225000core:IntangibleAssetsOtherThanGoodwill2023-02-2811225000core:LandBuildings2023-02-2811225000core:PlantMachinery2023-02-2811225000core:Vehicles2023-02-2811225000core:FurnitureFittings2023-02-2811225000core:OfficeEquipment2023-02-2811225000core:AfterOneYear2023-02-2811225000core:WithinOneYear2023-02-2811225000core:ListedExchangeTraded2023-02-2811225000core:UnlistedNon-exchangeTraded2023-02-2811225000core:ShareCapital2023-02-2811225000core:SharePremium2023-02-2811225000core:RevaluationReserve2023-02-2811225000core:OtherReservesSubtotal2023-02-2811225000core:RetainedEarningsAccumulatedLosses2023-02-2811225000core:NetGoodwill2022-02-2811225000core:IntangibleAssetsOtherThanGoodwill2022-02-2811225000core:LandBuildings2022-02-2811225000core:PlantMachinery2022-02-2811225000core:Vehicles2022-02-2811225000core:FurnitureFittings2022-02-2811225000core:OfficeEquipment2022-02-2811225000core:AfterOneYear2022-02-2811225000core:WithinOneYear2022-02-2811225000core:ListedExc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MDM PROPERTY LTD

Registered Number
11225000
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

MDM PROPERTY LTD
Company Information
for the year from 1 March 2022 to 28 February 2023

Directors

EDGE, Philip Adam
WASLEY, Mark James

Registered Address

The Courtyard Offices Wheldrake Lane
Elvington
York
YO41 4AZ

Registered Number

11225000 (England and Wales)
MDM PROPERTY LTD
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Called up share capital not paid200200
Fixed assets
Tangible assets617,4891,261
Investment property71,320,521672,445
1,338,010673,706
Current assets
Debtors813,4869,453
Cash at bank and on hand87,479499
100,9659,952
Creditors amounts falling due within one year9(229,366)(203,002)
Net current assets (liabilities)(128,201)(192,850)
Total assets less current liabilities1,209,809480,856
Creditors amounts falling due after one year10(893,789)(420,113)
Provisions for liabilities11(56,407)(11,767)
Net assets259,61348,976
Capital and reserves
Called up share capital200200
Other reserves63,54463,544
Profit and loss account195,869(14,768)
Shareholders' funds259,61348,976
The financial statements were approved and authorised for issue by the Board of Directors on 28 November 2023, and are signed on its behalf by:
WASLEY, Mark James
Director
Registered Company No. 11225000
MDM PROPERTY LTD
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
4.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Straight Line 5 years

Straight line (years)
Plant and machinery5
Fixtures and fittings5
Investment property policy
Investment properties are initially included at cost of purchased investment property and directly attributable expenditure. Investment properties are included in the balance sheet at fair value at the balance sheet date. Revaluation gains are recognised in the income statement. The gains are held in a non-distributable fair value reserve going forward. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
5.Employee information
The average number of employees in the year includes directors. The directors were not remunerated.

20232022
Average number of employees during the year22
6.Property, plant and equipment

Fixtures & fittings

Total

££
Cost or valuation
At 01 March 221,4881,488
Additions16,84516,845
At 28 February 2318,33318,333
Depreciation and impairment
At 01 March 22227227
Charge for year617617
At 28 February 23844844
Net book value
At 28 February 2317,48917,489
At 28 February 221,2611,261
Depreciation rate is Straight Line - 5 years.
7.Investment property

£
Fair value at 01 March 22672,445
Additions540,662
Fair value adjustments107,414
At 28 February 231,320,521
8.Debtors

2023

2022

££
Trade debtors / trade receivables6,6629,453
Other debtors6,824-
Total13,4869,453
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables-8,987
Bank borrowings and overdrafts953-
Amounts owed to related parties217,347193,203
Other creditors11,066568
Accrued liabilities and deferred income-244
Total229,366203,002
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts893,789420,113
Total893,789420,113
A bounce back loan was taken out in May 2020 totalling £8,580. The carrying value at year end was £5,958 (2022: £7,865). The final repayment is due May 2026.
11.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)56,40711,767
Total56,40711,767