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REGISTERED NUMBER: 09438297 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2022

for

Master Developments Limited

Master Developments Limited (Registered number: 09438297)






Contents of the Financial Statements
for the Year Ended 28 February 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Master Developments Limited

Company Information
for the Year Ended 28 February 2022







DIRECTORS: C D Moores
N J Sellman





REGISTERED OFFICE: 7 Trinity Place
Midland Drive
Sutton Coldfield
B72 1TX





REGISTERED NUMBER: 09438297 (England and Wales)






Master Developments Limited (Registered number: 09438297)

Balance Sheet
28 February 2022

28.2.22 28.2.21
Notes £    £   
FIXED ASSETS
Investment property 4 - 7,200,000

CURRENT ASSETS
Debtors 5 5,306,324 235,495
Cash at bank 27,486 15,928
5,333,810 251,423
CREDITORS
Amounts falling due within one year 6 (993,427 ) (986,821 )
NET CURRENT ASSETS/(LIABILITIES) 4,340,383 (735,398 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,340,383

6,464,602

CREDITORS
Amounts falling due after more than one
year

7

(5,413,057

)

(5,204,372

)

PROVISIONS FOR LIABILITIES - (325,510 )
NET (LIABILITIES)/ASSETS (1,072,674 ) 934,720

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 8 - 1,387,700
Retained earnings (1,072,676 ) (452,982 )
(1,072,674 ) 934,720

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 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.

Master Developments Limited (Registered number: 09438297)

Balance Sheet - continued
28 February 2022


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 31 July 2023 and were signed on its behalf by:





C D Moores - Director


Master Developments Limited (Registered number: 09438297)

Notes to the Financial Statements
for the Year Ended 28 February 2022

1. STATUTORY INFORMATION

Master 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 NIL (2021 - NIL).

Master Developments Limited (Registered number: 09438297)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2021 7,200,000
Disposals (7,200,000 )
At 28 February 2022 -
NET BOOK VALUE
At 28 February 2022 -
At 28 February 2021 7,200,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.22 28.2.21
£    £   
Amounts owed by group undertakings 5,306,324 235,495

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.22 28.2.21
£    £   
Bank loans and overdrafts 53,355 -
Trade creditors 375 -
Amounts owed to associates 249,063 247,821
Other creditors 690,634 739,000
993,427 986,821

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.22 28.2.21
£    £   
Bank loans 5,413,057 5,204,372

8. RESERVES
Fair
value
reserve
£   
At 1 March 2021 1,387,700
Fair value adjustment (1,387,700 )

At 28 February 2022 -

9. ULTIMATE CONTROLLING PARTY

The controlling party is not known.

10. GOING CONCERN

These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company during this uncertain period.