for the Period Ended 31 March 2023
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 March 2023
Principal activities of the company
Additional information
Business ReviewThe 2022/23 financial year has been the 4th year of operations for Medra Cyfyngedig. In response to the economic conditions that projected a downturn in the market sales sector, a decision was taken by the Medra Board to scale down operations and thus reduce the risk. This decision resulted in four pipeline schemes being sold at their market values to Adra to be developed as either social, intermediate or market rent properties. Medra will continue its operations into 2023/24 with one scheme, Hayfield.Overall, Medra Cyfyngedig made a loss for the year to 31 March 2023 of £110,280. The loss to date reflects the marketing, set-up and administration costs that have been necessary to ensure Medra can operate effectively. Profits are anticipated as Medra develops and sells properties on the open market.Directors and Directors’ InterestsThe directors who held office during the year were as follows:William Ellis Nixon Rhys ParryNigel Charles Sinnett Nicolette Marie Cullen Glyn Deiniol Evans None of the directors had a beneficial interest in the shares of the CompanyStatement of Directors’ ResponsibilitiesThe directors are responsible for preparing the Director’s report and the Financial Statements in accordance with applicable law and regulations.Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the profit or loss of the company for that period.In preparing these financial statements, the directors are required to:1) select suitable accounting policies and then apply them consistently;2) make judgements and estimates that are reasonable and prudent;3) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.AuditorsSo far as each director is aware, there is no relevant audit information of which the company’s auditoris unaware; and each director has taken all steps that they ought to have taken as a director in order to make themselves aware of any relevant information and to establish that the company’s auditor is aware of that information.The auditor, Beever and Struthers, is deemed to be reappointed in accordance with section 487 of the Companies Act 2006.Small Companies ProvisionsThis report was approved by the board on 06 September 2023 and has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
Directors
The directors shown below have held office during the whole of the period from
1 April 2022 to 31 March 2023
Secretary
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
2023 | 2022 | |
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| £ | £ |
Turnover: | | |
Cost of sales: | ( | |
Gross profit(or loss): | | |
Administrative expenses: | ( | ( |
Operating profit(or loss): | ( | ( |
Interest payable and similar charges: | ( | ( |
Profit(or loss) before tax: | ( | ( |
Tax: | | |
Profit(or loss) for the financial year: | ( | ( |
As at
Notes | 2023 | 2022 | |
---|---|---|---|
| £ | £ | |
Called up share capital not paid: | | | |
Fixed assets | |||
Intangible assets: | | | |
Tangible assets: | | | |
Investments: | | | |
Total fixed assets: | | | |
Current assets | |||
Stocks: | 3 | | |
Debtors: | 4 | | |
Cash at bank and in hand: | | | |
Investments: | | | |
Total current assets: | | | |
Prepayments and accrued income: | | | |
Creditors: amounts falling due within one year: | 5 | ( | ( |
Net current assets (liabilities): | | | |
Total assets less current liabilities: | | | |
Creditors: amounts falling due after more than one year: | 6 | ( | ( |
Provision for liabilities: | | | |
Accruals and deferred income: | | | |
Total net assets (liabilities): | ( | ( | |
Capital and reserves | |||
Called up share capital: | | | |
Share premium account: | | | |
Other reserves: | | | |
Profit and loss account: | ( | ( | |
Total Shareholders' funds: | ( | ( |
The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 March 2023
Basis of measurement and preparation
Turnover policy
Other accounting policies
for the Period Ended 31 March 2023
2023 | 2022 | |
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Average number of employees during the period | | |
for the Period Ended 31 March 2023
2023 | 2022 | |
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£ | £ | |
Stocks | | |
Payments on account | | |
Total | | |
for the Period Ended 31 March 2023
2023 | 2022 | |
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£ | £ | |
Other debtors | | |
Total | | |
for the Period Ended 31 March 2023
2023 | 2022 | |
---|---|---|
£ | £ | |
Bank loans and overdrafts | | |
Amounts due under finance leases and hire purchase contracts | | |
Trade creditors | | |
Taxation and social security | | |
Accruals and deferred income | | |
Other creditors | | |
Total | | |
for the Period Ended 31 March 2023
2023 | 2022 | |
---|---|---|
£ | £ | |
Bank loans and overdrafts | | |
Amounts due under finance leases and hire purchase contracts | | |
Other creditors | | |
Total | | |
for the Period Ended 31 March 2023