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REGISTERED NUMBER: 05616197















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

METROHOMES & PROPERTY LTD

METROHOMES & PROPERTY LTD (REGISTERED NUMBER: 05616197)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


METROHOMES & PROPERTY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mrs S Wallace





REGISTERED OFFICE: Create Business Hub
Ground Floor
5 Rayleigh Road
Hutton, Brentwood.
Essex
CM13 1AB





REGISTERED NUMBER: 05616197





ACCOUNTANTS: Tish Press & Company
Create Business Hub
Ground Floor
5 Rayleigh Road
Hutton, Brentwood.
Essex
CM13 1AB

METROHOMES & PROPERTY LTD (REGISTERED NUMBER: 05616197)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,888 18,020
Investment property 5 695,973 695,973
713,861 713,993

CURRENT ASSETS
Debtors 6 1,937 2,121
Cash at bank and in hand 124,116 97,037
126,053 99,158
CREDITORS
Amounts falling due within one year 7 730,532 722,249
NET CURRENT LIABILITIES (604,479 ) (623,091 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

109,382

90,902

PROVISIONS FOR LIABILITIES 83 108
NET ASSETS 109,299 90,794

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 109,199 90,694
SHAREHOLDERS' FUNDS 109,299 90,794

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

METROHOMES & PROPERTY LTD (REGISTERED NUMBER: 05616197)

BALANCE SHEET - continued
31 MARCH 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 September 2024 and were signed by:





Mrs S Wallace - Director


METROHOMES & PROPERTY LTD (REGISTERED NUMBER: 05616197)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Metrohomes & Property Ltd is a private company, limited by shares , registered in Not specified/Other. 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

Current or deferred taxation 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

METROHOMES & PROPERTY LTD (REGISTERED NUMBER: 05616197)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 17,452 1,078 3,550 22,080
DEPRECIATION
At 1 April 2023 - 974 3,086 4,060
Charge for year - 16 116 132
At 31 March 2024 - 990 3,202 4,192
NET BOOK VALUE
At 31 March 2024 17,452 88 348 17,888
At 31 March 2023 17,452 104 464 18,020

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 695,973
NET BOOK VALUE
At 31 March 2024 695,973
At 31 March 2023 695,973

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 337
Prepayments and accrued income 1,937 1,784
1,937 2,121

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,068 1,526
Amounts owed to participating interests 714,068 714,068
Tax 6,124 1,767
Other creditors 1,988 1,988
Directors' current accounts 1,460 1,460
Accruals and deferred income 5,824 1,440
730,532 722,249

METROHOMES & PROPERTY LTD (REGISTERED NUMBER: 05616197)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

9. RESERVES
Retained
earnings
£   

At 1 April 2023 90,694
Profit for the year 18,505
At 31 March 2024 109,199