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REGISTERED NUMBER: 03984148 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

M. D. PROPERTY RENTALS LTD

M. D. PROPERTY RENTALS LTD (REGISTERED NUMBER: 03984148)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M. D. PROPERTY RENTALS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Mr M Rhodes
Mrs D Rhodes





SECRETARY: Mrs D Rhodes





REGISTERED OFFICE: The Cottage
35 Cromford Road
Crich, Matlock
Derbyshire
DE4 5DJ





REGISTERED NUMBER: 03984148 (England and Wales)





ACCOUNTANTS: Anderson & Co
18 Diamond Avenue
Kirkby in Ashfield
Nottinghamshire
NG17 7GR

M. D. PROPERTY RENTALS LTD (REGISTERED NUMBER: 03984148)

BALANCE SHEET
31 MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 804,130 806,670

CURRENT ASSETS
Stocks 2,664 4,500
Debtors 5 1,607 1,432
Cash at bank 22,526 33,981
26,797 39,913
CREDITORS
Amounts falling due within one year 6 26,028 15,194
NET CURRENT ASSETS 769 24,719
TOTAL ASSETS LESS CURRENT
LIABILITIES

804,899

831,389

CREDITORS
Amounts falling due after more than one
year

7

(551,283

)

(551,283

)

PROVISIONS FOR LIABILITIES (1,498 ) (1,968 )
NET ASSETS 252,118 278,138

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 252,018 278,038
SHAREHOLDERS' FUNDS 252,118 278,138

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

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

M. D. PROPERTY RENTALS LTD (REGISTERED NUMBER: 03984148)

BALANCE SHEET - continued
31 MAY 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 19 February 2024 and were signed on its behalf by:





Mr M Rhodes - Director


M. D. PROPERTY RENTALS LTD (REGISTERED NUMBER: 03984148)

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

1. STATUTORY INFORMATION

M. D. Property Rentals Ltd 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.

Tangible fixed assets
No depreciation is provided on Freehold Land and Properties which, in the opinion of the Directors, have a value in excess of that shown in the Financial Statements. Depreciation is provided on other fixed assets at rates calculated to write off the cost of those assets over their expected useful life as follows:
Fixtures and Fittings15%reducing balance basis
Motor Vehicles25%reducing balance basis


Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 taxation
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 2 (2022 - 2 ) .

M. D. PROPERTY RENTALS LTD (REGISTERED NUMBER: 03984148)

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

4. TANGIBLE FIXED ASSETS
Fittings
Freehold and Motor
property equipment vehicles Totals
£    £    £    £   
COST
At 1 June 2022
and 31 May 2023 795,940 17,496 10,620 824,056
DEPRECIATION
At 1 June 2022 - 16,066 1,320 17,386
Charge for year - 215 2,325 2,540
At 31 May 2023 - 16,281 3,645 19,926
NET BOOK VALUE
At 31 May 2023 795,940 1,215 6,975 804,130
At 31 May 2022 795,940 1,430 9,300 806,670

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
PAYE and national insurance 127 55
Prepayments 1,480 1,377
1,607 1,432

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 6,295 2,985
Corporation tax 3,749 4,842
Directors' loan accounts 13,635 5,282
Accrued expenses 2,349 2,085
26,028 15,194

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Mortgage loans 551,283 551,283

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgage loans 551,283 551,283

M. D. PROPERTY RENTALS LTD (REGISTERED NUMBER: 03984148)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Mortgage loans 551,283 551,283

The Mortgage loans are secured by legal charges over the relevant Properties.