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Registered number: 06515370

MD Developments (New Forest) Limited

ACCOUNTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

Prepared By:
Peter Simpson FCCA MAAT
5 Juniper Close
Pennington
Lymington
Hampshire
SO41 8AZ

MD Developments (New Forest) Limited

ACCOUNTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
DIRECTORS
D. Wallbridge
SECRETARY
Mrs. S.A. Wallbridge
REGISTERED OFFICE
Yew Trees, Church Lane
Pilley
Lymington
Hampshire
SO41 5QL
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 06515370
ACCOUNTANTS
Peter Simpson FCCA MAAT
5 Juniper Close
Pennington
Lymington
Hampshire
SO41 8AZ

MD Developments (New Forest) Limited

ACCOUNTS
FOR THEYEARENDED29 FEBRUARY 2024
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

MD Developments (New Forest) Limited

BALANCE SHEET AT 29 February 2024
20242023
Notes££
CURRENT ASSETS
Debtors2281,320281,340
Cash at bank and in hand2,4347,892
283,754289,232
CREDITORS: Amounts falling due within one year3381,859385,005
NET CURRENT LIABILITIES(98,105)(95,773)
TOTAL ASSETS LESS CURRENT LIABILITIES(98,105)(95,773)
CAPITAL AND RESERVES
Called up share capital5100100
Profit and loss account(98,205)(95,873)
SHAREHOLDERS' FUNDS(98,105)(95,773)
For the year ending 29 February 2024 the company was entitled to exemption 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 directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 30 September 2024 and signed on their behalf by
.............................
D. Wallbridge
Director

MD Developments (New Forest) Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts plus work in progress.
1c. Valuation Information And Policy
Work in progress is valued at the proportion of final sales value, excluding Value Added Tax, considered by the directors to have been completed at the year end by reference to costs incurred and profit achieved to date.
Work in progress values are reviewed by the directors in light of changing property market conditions.
2. DEBTORS 20242023
££
Amounts falling due within one year
Work in progress281,137281,137
PAYE control7575
Prepayments108128
281,320281,340

MD Developments (New Forest) Limited

3. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
Directors current account194,653194,622
Other creditors187,206190,383
381,859385,005
Accruals include loan interest £186,474 (2023 - £189,651) and other accruals £732 (2023 - £732). Other creditors are balance on directors current account £194,652 (2023 - £194,621). The company expenditure has been partly covered by proceeds from a private mortgage taken out by the director and company secretary. The company has agreed to pay interest on the amount of the mortgage proceeds and other introductions on a draw down basis into the company at a flat rate of 7% per annum. It is intended that unpaid accumulated interest payment due from the company be made available to the directors from the constructed property sale proceeds. The accumulated loan interest due to the directors is therefore included in accruals rather than directors loan account.
4. EMPLOYEES
20242023
No.No.
Average number of employees--
5. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
100 Ordinary shares of £1 each100100
100100