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Registered number: 09405810
MAYBANK PROPERTIES LIMITED
Financial Statements
For The Year Ended 31 January 2024
Accounting and Allied Services Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09405810
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 572 698
Investment Properties 5 1,000,000 1,000,000
1,000,572 1,000,698
CURRENT ASSETS
Debtors 6 51,605 51,605
Cash at bank and in hand 2,124 2,509
53,729 54,114
Creditors: Amounts Falling Due Within One Year 7 (165,099 ) (185,899 )
NET CURRENT ASSETS (LIABILITIES) (111,370 ) (131,785 )
TOTAL ASSETS LESS CURRENT LIABILITIES 889,202 868,913
Creditors: Amounts Falling Due After More Than One Year 8 (308,332 ) (308,332 )
NET ASSETS 580,870 560,581
CAPITAL AND RESERVES
Called up share capital 9 1 1
Revaluation reserve 10 588,950 588,950
Profit and Loss Account (8,081 ) (28,370 )
SHAREHOLDERS' FUNDS 580,870 560,581
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr KUMARAPPAR SABARATNAM
Director
23/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
MAYBANK PROPERTIES LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 09405810 . The registered office is 32 Box lane, Heronswood, Hemelk Hempstead, Herdfordshire, HP3 0DJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 18%
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
1 1
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 February 2023 851
As at 31 January 2024 851
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 February 2023 153
Provided during the period 126
As at 31 January 2024 279
Net Book Value
As at 31 January 2024 572
As at 1 February 2023 698
5. Investment Property
2024
£
Fair Value
As at 1 February 2023 and 31 January 2024 1,000,000
6. Debtors
2024 2023
£ £
Due within one year
Paxford properties 44,680 44,680
Riborough property 6,870 6,870
Botwealleas propery 55 55
51,605 51,605
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors (1 ) (1 )
Corporation tax 288 288
Other creditors 500 500
Fairwayepropertiesltd 60,000 60,000
Director's loan account 104,312 125,112
165,099 185,899
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 308,332 308,332
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4
Page 5
10. Reserves
Revaluation Reserve
£
As at 1 February 2023 588,950
As at 31 January 2024 588,950
Page 5