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Registered number: 03122905
Mayfield Asset And Property Management Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 December 2023
Mayfield Asset & Property Management Ltd
Contents
Page
Company Information 1
Abridged Balance Sheet 2—3
Notes to the Abridged Financial Statements 4—5
Page 1
Company Information
Directors Mr Anthony McDonagh
Mr Michael Nolloth
Secretary Ms Nida Khan
Company Number 03122905
Registered Office 2nd Floor
6 Princes Street
London
W1B 2LG
Accountants Mayfield Asset & Property Management Ltd
2nd Floor
6 Princes Street
London
W1B 2LG
Page 1
Page 2
Abridged Balance Sheet
Registered number: 03122905
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 13,279 13,023
13,279 13,023
CURRENT ASSETS
Debtors 5 418,567 526,983
Investments 13,333 13,333
Cash at bank and in hand 531,527 713,559
963,427 1,253,875
Creditors: Amounts Falling Due Within One Year (309,116 ) (555,015 )
NET CURRENT ASSETS (LIABILITIES) 654,311 698,860
TOTAL ASSETS LESS CURRENT LIABILITIES 667,590 711,883
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,446 ) (6,446 )
NET ASSETS 661,144 705,437
CAPITAL AND RESERVES
Called up share capital 6 2 2
Profit and Loss Account 661,142 705,435
SHAREHOLDERS' FUNDS 661,144 705,437
Page 2
Page 3
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 December 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Michael Nolloth
Director
06/09/2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Abridged Financial Statements
1. General Information
Mayfield Asset And Property Management Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03122905 . The registered office is 2nd Floor, 6 Princes Street, London, W1B 2LG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Turnover
Turnover from management fees is recognised when the fair value of the consideration received or receivable, for the provision of managing services, is provided and is shown net of VAT and other sales related taxes.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery Over the life of the asset
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2022: 12)
12 12
4. Tangible Assets
Total
£
Cost
As at 1 January 2023 75,282
Additions 3,787
As at 31 December 2023 79,069
Depreciation
As at 1 January 2023 62,259
Provided during the period 3,531
As at 31 December 2023 65,790
Net Book Value
As at 31 December 2023 13,279
As at 1 January 2023 13,023
Page 4
Page 5
5. Debtors
2023 2022
£ £
Due after more than one year
Director's Loan 4,712 8,728
Directors' loan tax 4,478 4,478
Amounts owed by subsidiaries 246,711 246,711
255,901 259,917
6. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
Page 5