Registered number: 06515370 | ||||||||
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 | ||||||||
SECRETARY | ||||||||
REGISTERED OFFICE | ||||||||
Hampshire | ||||||||
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 Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
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 | ||||||||||
2024 | 2023 | |||||||||
Notes | £ | £ | ||||||||
CURRENT ASSETS | ||||||||||
Debtors | 2 | |||||||||
Cash at bank and in hand | ||||||||||
283,754 | 289,232 | |||||||||
CREDITORS: Amounts falling due within one year | 3 | |||||||||
NET CURRENT LIABILITIES | ( | (95,773) | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ( | ( | ||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 5 | |||||||||
Profit and loss account | (98,205) | (95,873) | ||||||||
SHAREHOLDERS' FUNDS | ( | ( | ||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
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 | 2024 | 2023 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Work in progress | 281,137 | 281,137 | ||||||
PAYE control | 75 | 75 | ||||||
Prepayments | 108 | 128 | ||||||
281,320 | 281,340 | |||||||
MD Developments (New Forest) Limited | ||||||||
3. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Directors current account | 194,653 | 194,622 | ||||||
Other creditors | 187,206 | 190,383 | ||||||
381,859 | 385,005 | |||||||
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 | ||||||
2024 | 2023 | |||||
No. | No. | |||||
Average number of employees | - | |||||
5. SHARE CAPITAL | 2024 | 2023 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
100 | 100 | |||||||
100 | 100 | |||||||