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Registered Number: 11450480
England and Wales

 

 

 

MODEL PROPERTY LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 August 2022

End date: 31 July 2023
You consider that the company is exempt from an audit for the period ended 31 July 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.


In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.


We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.



....................................................
TaxEdify
Accountants & Tax Advisors
19 Cheetham Hill Road
Manchester
M4 4FY
16 October 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 1,160,971    1,137,573 
1,160,971    1,137,573 
Current assets      
Debtors 277,000    277,000 
Cash at bank and in hand 8,949    67,058 
285,949    344,058 
Creditors: amount falling due within one year (7,079)   (36,362)
Net current assets 278,870    307,696 
 
Total assets less current liabilities 1,439,841    1,445,269 
Creditors: amount falling due after more than one year (1,258,742)   (1,258,742)
Provisions for liabilities (43,866)   (43,866)
Net assets 137,233    142,661 
 

Capital and reserves
     
Called up share capital 4 2    2 
Special Reserves 5 187,009    187,009 
Profit and loss account (49,778)   (44,350)
Shareholders' funds 137,233    142,661 
 


For the year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 16 October 2024 and were signed by:


-------------------------------
Dr Muhammad Ashfaq
Director
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General Information
MODEL PROPERTY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11450480, registration address 11 Blenheim Close, Hale, Altrincham, WA14 2RX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 August 2022 1,137,573    1,137,573 
Additions 23,398    23,398 
Disposals  
At 31 July 2023 1,160,971    1,160,971 
Depreciation
At 01 August 2022  
Charge for year  
On disposals  
At 31 July 2023  
Net book values
Closing balance as at 31 July 2023 1,160,971    1,160,971 
Opening balance as at 01 August 2022 1,137,573    1,137,573 


4.

Share Capital

Authorised
2 Ordinary shares of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
2 Ordinary shares of £1.00 each  
 

5.

Special Reserves

2023
£
  2022
£
Non-distributable Reserves b/fwd 187,009   
Non-distributable Reserves During the Year   187,009 
187,009    187,009 

6.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
Proficient Medics Limited(6,000)(6,000)
Famous Property Limited(28,840)(26,906)4,254 (26,906)
Model Homes Ltd277,000 277,000 



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