2 false false false false false false false false false false true false false false false false false No description of principal activity 2022-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 3,097 3,097 2,680 2,680 417 xbrli:pure xbrli:shares iso4217:GBP 04906342 2022-10-01 2023-09-30 04906342 2023-09-30 04906342 2022-09-30 04906342 2021-10-01 2022-09-30 04906342 2022-09-30 04906342 2021-09-30 04906342 core:PlantMachinery 2022-10-01 2023-09-30 04906342 bus:Director1 2022-10-01 2023-09-30 04906342 core:PlantMachinery 2022-09-30 04906342 core:WithinOneYear 2023-09-30 04906342 core:WithinOneYear 2022-09-30 04906342 core:ShareCapital 2023-09-30 04906342 core:ShareCapital 2022-09-30 04906342 core:RetainedEarningsAccumulatedLosses 2023-09-30 04906342 core:RetainedEarningsAccumulatedLosses 2022-09-30 04906342 core:PlantMachinery 2022-09-30 04906342 bus:Director1 2022-09-30 04906342 bus:Director1 2023-09-30 04906342 bus:Director1 2021-09-30 04906342 bus:Director1 2022-09-30 04906342 bus:Director1 2021-10-01 2022-09-30 04906342 bus:SmallEntities 2022-10-01 2023-09-30 04906342 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 04906342 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 04906342 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 04906342 bus:FullAccounts 2022-10-01 2023-09-30
COMPANY REGISTRATION NUMBER: 04906342
May Business Estates Limited
Filleted Unaudited Financial Statements
For the year ended
30 September 2023
May Business Estates Limited
Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
417
Current assets
Debtors
6
19,000
19,000
Creditors: amounts falling due within one year
7
96,447
93,791
--------
--------
Net current liabilities
77,447
74,791
--------
--------
Total assets less current liabilities
( 77,447)
( 74,374)
--------
--------
Net liabilities
( 77,447)
( 74,374)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 77,547)
( 74,474)
--------
--------
Shareholder deficit
( 77,447)
( 74,374)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 26 September 2024 , and are signed on behalf of the board by:
D M Duddy
Director
Company registration number: 04906342
May Business Estates Limited
Notes to the Financial Statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hyde House, The Hyde, Edgware Road, London, NW9 6LA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rent.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Plant and machinery
£
Cost
At 1 October 2022
3,097
Disposals
( 3,097)
-------
At 30 September 2023
-------
Depreciation
At 1 October 2022
2,680
Disposals
( 2,680)
-------
At 30 September 2023
-------
Carrying amount
At 30 September 2023
-------
At 30 September 2022
417
-------
6. Debtors
2023
2022
£
£
Other debtors
19,000
19,000
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
724
Amounts owed to group undertakings and undertakings in which the company has a participating interest
90,678
79,908
Corporation tax
5,140
Other creditors
5,769
8,019
--------
--------
96,447
93,791
--------
--------
8. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
D M Duddy
( 4,769)
( 4,769)
-------
----
-------
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
D M Duddy
( 1,776)
( 2,993)
( 4,769)
-------
-------
-------
9. Related party transactions
During the year the company received rent from May Investments Ltd, a company controlled by the director, D M Duddy , in the sum of £nil (2022 £33,333). At the balance sheet the there was £19,000 (2022: £19,000) due by May Investments Ltd to the company.
10. Controlling party
The company is a 100% subsidiary of Cubetown (Stockport) Ltd, a company registered in England and Wales. The registered office address is Hyde House, The Hyde, Edgware Road, London NW9 6LA. D M Duddy is the controlling party of this company.