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REGISTERED NUMBER: 10557731 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

MALTON ROAD DEVELOPMENTS LIMITED

MALTON ROAD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10557731)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MALTON ROAD DEVELOPMENTS LIMITED

COMPANY INFORMATION
For The Year Ended 31 March 2023







DIRECTORS: D M Todd
P J Ellis
M J Smulovitch
P Hakimi-Sefat





REGISTERED OFFICE: Hallswelle House
1 Hallswelle Road
London
NW11 0DH





REGISTERED NUMBER: 10557731 (England and Wales)





ACCOUNTANTS: Fortus Limited
Business Advisors & Accountants
Equinox House
Clifton Park, Shipton Road
York
Yorkshire
YO30 5PA

MALTON ROAD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10557731)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1 -

CURRENT ASSETS
Stocks 4,082,398 3,973,827
Debtors 5 1,236,987 75,182
Cash at bank 123 16,710
5,319,508 4,065,719
CREDITORS
Amounts falling due within one year 6 1,155,651 4,087,233
NET CURRENT ASSETS/(LIABILITIES) 4,163,857 (21,514 )
TOTAL ASSETS LESS CURRENT LIABILITIES 4,163,858 (21,514 )

CREDITORS
Amounts falling due after more than
one year

7

4,545,858

31,667
NET LIABILITIES (382,000 ) (53,181 )

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings (383,000 ) (54,181 )
SHAREHOLDERS' FUNDS (382,000 ) (53,181 )

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

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

MALTON ROAD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10557731)

BALANCE SHEET - continued
31 March 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 August 2024 and were signed on its behalf by:





M J Smulovitch - Director


MALTON ROAD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10557731)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2023


1. STATUTORY INFORMATION

Malton Road 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.

These financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

Turnover
Turnover represents rents received from properties under development, the properties are currently held in stock.

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

Investments in subsidiaries
Investments in Malton Road Developments (York) Limited are recognised at cost.

Stocks
Stock represents freehold property and associated construction costs incurred to the year end where the property is still a work in progress.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that they will be able to fund any additional requirements of the company to ensure the operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown with borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

MALTON ROAD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10557731)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023


4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 1
At 31 March 2023 1
NET BOOK VALUE
At 31 March 2023 1

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 61,489 37,611
Amounts owed by group undertakings 599 -
Other debtors 1,174,899 37,571
1,236,987 75,182

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 2,764,366
Trade creditors 56,092 2,717
Taxation and social security 49,109 24,807
Other creditors 1,040,450 1,295,343
1,155,651 4,087,233

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 4,545,858 31,667

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary 1 1,000 1,000

MALTON ROAD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10557731)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
D M Todd
Balance outstanding at start of year 37,500 -
Amounts advanced - 37,500
Amounts repaid (37,500 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 37,500

10. RELATED PARTY DISCLOSURES

Included in other debtors is a £1,129,315 loan to North Star (York) Investments Limited who are a shareholder of Malton Road Developments Limited. No interest is being charged on this loan.

Included in other debtors is a £45,485 loan to Dante Holdings Limited who are a shareholder of Malton Road Developments Limited. No interest is being charged on this loan.

Included in other creditors is a £450,000 loan from Metrop Group Limited who are a shareholder of Malton Road Developments Limited. Interest has been accrued on this loan at 12% per annum.

Included in other creditors is a £450,000 loan from Turnberry 2013 Property Investments Limited who are a shareholder of Malton Road Developments Limited. Interest has been accrued on this loan at 12% per annum.