2022-08-312023-08-302023-08-30false09185705DAVID MEWS FREEHOLD 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DAVID MEWS FREEHOLD LTD

Registered Number
09185705
(England and Wales)

Unaudited Financial Statements for the Year ended
30 August 2023

DAVID MEWS FREEHOLD LTD
Company Information
for the year from 31 August 2022 to 30 August 2023

Director

Bikaramjit Singh Dosanjh

Registered Address

Able House
61 Gorst Road
London
NW10 6LS

Registered Number

09185705 (England and Wales)
DAVID MEWS FREEHOLD LTD
Balance Sheet as at
30 August 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets330,00030,000
Tangible assets43,271,6543,273,084
3,301,6543,303,084
Current assets
Stocks51,0001,000
Debtors602,890457,890
Cash at bank and on hand41650
603,931459,540
Creditors amounts falling due within one year6(1,579,914)(1,454,911)
Net current assets (liabilities)(975,983)(995,371)
Total assets less current liabilities2,325,6712,307,713
Creditors amounts falling due after one year7(1,511,250)(1,511,250)
Provisions for liabilities8(92,282)(92,282)
Net assets722,139704,181
Capital and reserves
Called up share capital1,0001,000
Profit and loss account721,139703,181
Shareholders' funds722,139704,181
The financial statements were approved and authorised for issue by the Director on 23 April 2024, and are signed on its behalf by:
Bikaramjit Singh Dosanjh
Director
Registered Company No. 09185705
DAVID MEWS FREEHOLD LTD
Notes to the Financial Statements
for the year ended 30 August 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Judgements and key sources of estimation uncertainty
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Turnover policy
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.
Revenue from sale of goods
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Office Equipment253
Investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account. No depreciation is provided in respect of investment properties.
Stocks and work in progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
2.Average number of employees

20232022
Average number of employees during the year11
3.Intangible assets

Other

Total

££
Cost or valuation
At 31 August 2230,00030,000
At 30 August 2330,00030,000
Net book value
At 30 August 2330,00030,000
At 30 August 2230,00030,000
4.Tangible fixed assets

Land & buildings

Office Equipment

Total

£££
Cost or valuation
At 31 August 223,250,00043,5183,293,518
Additions3,1751,4754,650
At 30 August 233,253,17544,9933,298,168
Depreciation and impairment
At 31 August 22-20,43420,434
Charge for year-6,0806,080
At 30 August 23-26,51426,514
Net book value
At 30 August 233,253,17518,4793,271,654
At 30 August 223,250,00023,0843,273,084
5.Stocks

2023

2022

££
Other stocks1,0001,000
Total1,0001,000
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables8,11340
Taxation and social security17,37215,705
Other creditors1,525,1831,409,919
Accrued liabilities and deferred income29,24629,247
Total1,579,9141,454,911
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
7.Creditors: amounts due after one year

2023

2022

££
Other creditors1,511,2501,511,250
Total1,511,2501,511,250
8.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)92,28292,282
Total92,28292,282