PTP Accounts Production v23.1.0.753 10994588 director 1.11.22 31.10.23 31.10.23 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure109945882022-10-31109945882023-10-31109945882022-11-012023-10-31109945882021-10-31109945882021-11-012022-10-31109945882022-10-3110994588ns16:EnglandWales2022-11-012023-10-3110994588ns15:PoundSterling2022-11-012023-10-3110994588ns11:Director12022-11-012023-10-3110994588ns11:PrivateLimitedCompanyLtd2022-11-012023-10-3110994588ns11:SmallEntities2022-11-012023-10-3110994588ns11:AuditExempt-NoAccountantsReport2022-11-012023-10-3110994588ns11:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3110994588ns11:SmallCompaniesRegimeForAccounts2022-11-012023-10-3110994588ns11:FullAccounts2022-11-012023-10-3110994588ns11:RegisteredOffice2022-11-012023-10-3110994588ns6:CurrentFinancialInstruments2023-10-3110994588ns6:CurrentFinancialInstruments2022-10-3110994588ns6:Non-currentFinancialInstruments2023-10-3110994588ns6:Non-currentFinancialInstruments2022-10-3110994588ns6:ShareCapital2023-10-3110994588ns6:ShareCapital2022-10-3110994588ns6:FurtherSpecificReserve3ComponentTotalEquity2023-10-3110994588ns6:FurtherSpecificReserve3ComponentTotalEquity2022-10-3110994588ns6:RetainedEarningsAccumulatedLosses2023-10-3110994588ns6:RetainedEarningsAccumulatedLosses2022-10-3110994588ns6:PlantMachinery2022-11-012023-10-3110994588ns6:PlantMachinery2022-10-3110994588ns6:PlantMachinery2023-10-3110994588ns6:PlantMachinery2022-10-3110994588ns6:WithinOneYearns6:CurrentFinancialInstruments2023-10-3110994588ns6:WithinOneYearns6:CurrentFinancialInstruments2022-10-3110994588ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2023-10-3110994588ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2022-10-3110994588ns6:DeferredTaxation2022-10-3110994588ns6:DeferredTaxation2023-10-3110994588ns6:FurtherSpecificReserve3ComponentTotalEquity2022-10-3110994588ns11:Director112022-10-3110994588ns11:Director112021-10-3110994588ns11:Director112022-11-012023-10-3110994588ns11:Director112021-11-012022-10-3110994588ns11:Director112023-10-3110994588ns11:Director112022-10-311099458812022-11-012023-10-31
REGISTERED NUMBER: 10994588 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Making Neoteric Homes Limited

Making Neoteric Homes Limited (Registered number: 10994588)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Making Neoteric Homes Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: M J Khatri





REGISTERED OFFICE: 73 Romilly Drive
Watford
WD19 5EN





REGISTERED NUMBER: 10994588 (England and Wales)





ACCOUNTANTS: Euro Ashfords (UK) Ltd
2nd Floor,
39 Ludgate hill
London
EC4M 7JN

Making Neoteric Homes Limited (Registered number: 10994588)

Statement of Financial Position
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,572 7,430
Investment property 5 1,462,564 1,461,043
1,468,136 1,468,473

CURRENT ASSETS
Debtors 6 22,914 22,914
Cash at bank 2,098 2,954
25,012 25,868
CREDITORS
Amounts falling due within one year 7 93,499 97,516
NET CURRENT LIABILITIES (68,487 ) (71,648 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,399,649

1,396,825

CREDITORS
Amounts falling due after more than one
year

8

(1,032,569

)

(1,031,433

)

PROVISIONS FOR LIABILITIES 9 (8,706 ) (8,706 )
NET ASSETS 358,374 356,686

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 348,361 348,361
Retained earnings 9,913 8,225
SHAREHOLDERS' FUNDS 358,374 356,686

Making Neoteric Homes Limited (Registered number: 10994588)

Statement of Financial Position - continued
31 October 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 16 October 2024 and were signed by:





M J Khatri - Director


Making Neoteric Homes Limited (Registered number: 10994588)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Making Neoteric Homes Limited 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.

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 - 25% on reducing balance

Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit and loss in the period in which they arise.
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.
No depreciation is provided on investment properties as a result of FRS 102 section 16, this represents a departure from the requirements of the Companies Act. In the opinion of the directors these properties are held primarily for their investment potential and so their current value is of more significance than any measure consumption and to depreciate them would not give a true and fair view.
However, the amount of depreciation cannot reasonably be quantified and the amount which might otherwise have been shown cannot be separated or quantified.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 (2022 - NIL).

Making Neoteric Homes Limited (Registered number: 10994588)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 11,892
DEPRECIATION
At 1 November 2022 4,462
Charge for year 1,858
At 31 October 2023 6,320
NET BOOK VALUE
At 31 October 2023 5,572
At 31 October 2022 7,430

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022 1,461,043
Additions 1,521
At 31 October 2023 1,462,564
NET BOOK VALUE
At 31 October 2023 1,462,564
At 31 October 2022 1,461,043

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2021 1,430,641
Valuation in 2022 30,402
Valuation in 2023 1,521
1,462,564

If investment property had not been revalued it would have been included at the following historical cost:

31.10.23 31.10.22
£    £   
Cost 1,430,641 1,430,641

Investment property was valued on an open market basis on 31 October 2023 by the director .

Making Neoteric Homes Limited (Registered number: 10994588)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 7,074 7,074
Amounts owed by participating interests 15,840 15,840
22,914 22,914

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Taxation and social security (28 ) 1,955
Other creditors 93,527 95,561
93,499 97,516

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 1,032,569 1,031,433

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,032,569 1,031,433

9. PROVISIONS FOR LIABILITIES
31.10.23 31.10.22
£    £   
Deferred tax 8,706 8,706

Deferred
tax
£   
Balance at 1 November 2022 8,706
Balance at 31 October 2023 8,706

10. RESERVES
Fair
value
reserve
£   
At 1 November 2022
and 31 October 2023 348,361

Making Neoteric Homes Limited (Registered number: 10994588)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022:

31.10.23 31.10.22
£    £   
R Patel
Balance outstanding at start of year - (45,430 )
Amounts repaid - 45,430
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

M J Khatri
Balance outstanding at start of year (92,633 ) (202,623 )
Amounts repaid 546 109,990
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (92,087 ) (92,633 )

12. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owes £92,087 to the director Mr Mitesh Jaivadan Khatri which are an interest free loan to the company.

Also, at the balance sheet date Ravi IT services ltd owes £15,840 to the company where Mr Ravindra Patel is the director and 100% shareholder of the company.

13. POST BALANCE SHEET EVENTS

Mr Ravindra Tarak Jayantibhai Patel resigned as director on 03 November 2021. When he resigned, Mr Patel was bought out by Mr Khatri. That was an adjusting event and no provision needs to be provided.

14. ULTIMATE CONTROLLING PARTY

At the date of signing these accounts, ultimate controlling party was director Mr Mitesh Jaivadan Khatri and the shareholder Mrs Aarti M Khatri.