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Registered number: 04503510














MIDDLESEX ESTATES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

 
MIDDLESEX ESTATES LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 4


 
MIDDLESEX ESTATES LIMITED
REGISTERED NUMBER:04503510

STATEMENT OF FINANCIAL POSITION
AS AT 5 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
386,882
386,882

Current assets
  

Cash at bank and in hand
  
1,904
7,958

Current liabilities
  

Creditors: amounts falling due within one year
 5 
(137,671)
(160,882)

Net current liabilities
  
 
 
(135,767)
 
 
(152,924)

Net assets
  
251,115
233,958


Capital and reserves
  

Called up share capital 
 6 
100
100

Profit and loss account
  
251,015
233,858

  
251,115
233,958


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 January 2024.



S R Khan
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
MIDDLESEX ESTATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

1.


General information

Middlesex Estates Limited is a private limited company incorporated in England and Wales with its registered office address at 9 Pebworth Road, Harrow, Middlesex, HA1 3UB.
The principal activity of the Company is that of property investment.
The Company's functional and presentational currency is £ Sterling. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises rents receivable excluding Value Added Tax. 
Rental income is recognised in the period to which it relates. Rental income received in advance is carried forward as deferred income. 

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.5

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 2

 
MIDDLESEX ESTATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

2.Accounting policies (continued)

 
2.7

Creditors

Short term creditors are measured at the transaction price.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors and loans to and from related parties.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Investment property


Freehold investment property

£



Cost


At 6 April 2022
386,882



At 5 April 2023
386,882

In the opinion of the directors the open market value for existing use of the investment property is the same as cost.




5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
2,100
2,100

Corporation tax
4,025
6,038

Other creditors
129,256
148,248

Accruals and deferred income
2,290
4,496

137,671
160,882


Page 3

 
MIDDLESEX ESTATES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

6.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100


 
Page 4