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MDP BEDFORD LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST DECEMBER 2023






MDP BEDFORD LTD (REGISTERED NUMBER: 10512746)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 7

MDP BEDFORD LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTOR: M M Din





REGISTERED OFFICE: Unit 15 Fenlake Road Industrial Estate
Fenlake Road
Bedford
Bedfordshire
MK42 0HB





REGISTERED NUMBER: 10512746 (England and Wales)





ACCOUNTANTS: HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN

MDP BEDFORD LTD (REGISTERED NUMBER: 10512746)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,530,000 1,244,263

CURRENT ASSETS
Debtors 5 696 -
Cash at bank 2,157 710
2,853 710
CREDITORS
Amounts falling due within one year 6 272,359 275,389
NET CURRENT LIABILITIES (269,506 ) (274,679 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,260,494

969,584

CREDITORS
Amounts falling due after more than one year 7 (789,830 ) (763,985 )

PROVISIONS FOR LIABILITIES (113,385 ) (50,073 )
NET ASSETS 357,279 155,526

CAPITAL AND RESERVES
Called up share capital 1 1
Non-distributable reserves 382,792 173,427
Retained earnings (25,514 ) (17,902 )
357,279 155,526

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MDP BEDFORD LTD (REGISTERED NUMBER: 10512746)

BALANCE SHEET - continued
31ST DECEMBER 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 24th September 2024 and were signed by:





M M Din - Director


MDP BEDFORD LTD (REGISTERED NUMBER: 10512746)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

MDP Bedford Ltd 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 as modified by the revaluation of certain assets.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover represents rental income receivable from tenants of the company's investment property portfolio.

Investment property
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. No formal valuation has taken place during the year by a professional independent valuer. The current fair value is based on a recognised valuation model.

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 1 (2022 - 1 ) .

MDP BEDFORD LTD (REGISTERED NUMBER: 10512746)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st January 2023 1,244,263
Additions 13,060
Revaluations 272,677
At 31st December 2023 1,530,000
NET BOOK VALUE
At 31st December 2023 1,530,000
At 31st December 2022 1,244,263

Fair value at 31st December 2023 is represented by:
£   
Valuation in 2021 223,500
Valuation in 2023 272,677
Cost 1,033,823
1,530,000

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,033,823 1,020,763

Investment properties were valued on a fair value bases basis on 31st December 2023 by Mr M M Din, the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 396 -
Prepayments and accrued income 300 -
696 -

MDP BEDFORD LTD (REGISTERED NUMBER: 10512746)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,400 7,400
Trade creditors 1,259 1,139
Amounts owed to participating interests 19,150 19,150
Other creditors 1,925 -
Directors' current accounts 241,425 245,950
Accruals and deferred income 1,200 1,750
272,359 275,389

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 9,927 17,875
Mortgage loans 428,284 428,284
Amounts owed to participating interests 351,619 317,826
789,830 763,985

ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MDP BEDFORD LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MDP Bedford Ltd for the year ended 31st December 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of MDP Bedford Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MDP Bedford Ltd and state those matters that we have agreed to state to the director of MDP Bedford Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MDP Bedford Ltd and its director for our work or for this report.

It is your duty to ensure that MDP Bedford Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MDP Bedford Ltd. You consider that MDP Bedford Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of MDP Bedford Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN


25th September 2024