Registered number
11211589
Meadowside Properties Ltd
Filleted Accounts
28 February 2023
Meadowside Properties Ltd
Registered number: 11211589
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,450,398 764,460
Current assets
Debtors 4 71,307 1
Cash at bank and in hand 16,364 4,113
87,671 4,114
Creditors: amounts falling due within one year 5 (11,041) (11,041)
Net current assets/(liabilities) 76,630 (6,927)
Total assets less current liabilities 1,527,028 757,533
Creditors: amounts falling due after more than one year 6 (1,288,152) (761,949)
Net assets/(liabilities) 238,876 (4,416)
Capital and reserves
Called up share capital 1 1
Revaluation reserve 7 281,000 -
Profit and loss account (42,125) (4,417)
Shareholder's funds 238,876 (4,416)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Yechezkel Taussig
Director
Approved by the board on 19 February 2024
Meadowside Properties Ltd
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Debtors
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.
Creditors
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 March 2022 764,460
Additions 408,636
Surplus on revaluation 281,000
Disposals (3,698)
At 28 February 2023 1,450,398
Depreciation
At 28 February 2023 -
Net book value
At 28 February 2023 1,450,398
At 28 February 2022 764,460
4 Debtors 2023 2022
£ £
Trade debtors 1,711 -
Inter-company transactions 69,595 -
Other debtors 1 1
71,307 1
5 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 11,041 11,041
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 944,614 389,411
Related party transactions 500 4,000
Other creditors 343,038 368,538
1,288,152 761,949
7 Revaluation reserve 2023 2022
£ £
Gain on revaluation of land and buildings 281,000 -
At 28 February 2023 281,000 -
8 Related party transactions
During the financial period, Meadowside Properties Limited paid £69,762 in property purchase fees on behalf of YFT Properties Ltd and repaid £3,500 to Kosher Media Ltd.
9 Other information
Meadowside Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
C/O Whiteside & Davies
158 Cromwell Road
Salford
M6 6DE
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