2023-03-012024-02-292024-02-29false11225000MDM PROPERTY LTD2024-10-2041201iso4217:GBPxbrli:pure112250002023-03-01112250002024-02-29112250002023-03-012024-02-29112250002022-03-01112250002023-02-28112250002022-03-012023-02-2811225000bus:SmallEntities2023-03-012024-02-2911225000bus:AuditExempt-NoAccountantsReport2023-03-012024-02-2911225000bus:FullAccounts2023-03-012024-02-2911225000bus:PrivateLimitedCompanyLtd2023-03-012024-02-2911225000core:WithinOneYear2024-02-2911225000core:AfterOneYear2024-02-2911225000core:WithinOneYear2023-02-2811225000core:AfterOneYear2023-02-2811225000core:ShareCapital2024-02-2911225000core:SharePremium2024-02-2911225000core:RevaluationReserve2024-02-2911225000core:OtherReservesSubtotal2024-02-2911225000core:RetainedEarningsAccumulatedLosses2024-02-2911225000core:ShareCapital2023-02-2811225000core:SharePremium2023-02-2811225000core:RevaluationReserve2023-02-2811225000core:OtherReservesSubtotal2023-02-2811225000core:RetainedEarningsAccumulatedLosses2023-02-2811225000core:LandBuildings2024-02-2911225000core:PlantMachinery2024-02-2911225000core:Vehicles2024-02-2911225000core:FurnitureFittings2024-02-2911225000core:OfficeEquipment2024-02-2911225000core:NetGoodwill2024-02-2911225000core:IntangibleAssetsOtherThanGoodwill2024-02-2911225000core:ListedExchangeTraded2024-02-2911225000core:UnlistedNon-exchangeTraded2024-02-2911225000core:LandBuildings2023-02-2811225000core:PlantMachinery2023-02-2811225000core:Vehicles2023-02-2811225000core:FurnitureFittings2023-02-2811225000core:OfficeEquipment2023-02-2811225000core:NetGoodwill2023-02-2811225000core:IntangibleAssetsOtherThanGoodwill2023-02-2811225000core:ListedExchangeTraded2023-02-2811225000core:UnlistedNon-exchangeTraded2023-02-2811225000core:LandBuildings2023-03-012024-02-2911225000core:PlantMachinery2023-03-012024-02-2911225000core:Vehicles2023-03-012024-02-2911225000core:FurnitureFittings2023-03-012024-02-2911225000core:OfficeEquipment2023-03-012024-02-2911225000core:NetGoodwill2023-03-012024-02-2911225000core:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-2911225000core:ListedExchangeTraded2023-03-012024-02-2911225000core:UnlistedNon-exchangeTraded2023-03-012024-02-2911225000core:MoreThanFiveYears2023-03-012024-02-2911225000core:Non-currentFinancialInstruments2024-02-2911225000core:Non-currentFinancialInstruments2023-02-2811225000dpl:CostSales2023-03-012024-02-2911225000dpl:DistributionCosts2023-03-012024-02-2911225000core:LandBuildings2023-03-012024-02-2911225000core:PlantMachinery2023-03-012024-02-2911225000core:Vehicles2023-03-012024-02-2911225000core:FurnitureFittings2023-03-012024-02-2911225000core:OfficeEquipment2023-03-012024-02-2911225000dpl:AdministrativeExpenses2023-03-012024-02-2911225000core:NetGoodwill2023-03-012024-02-2911225000core:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-2911225000dpl:GroupUndertakings2023-03-012024-02-2911225000dpl:ParticipatingInterests2023-03-012024-02-2911225000dpl:GroupUndertakingscore:ListedExchangeTraded2023-03-012024-02-2911225000core:ListedExchangeTraded2023-03-012024-02-2911225000dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-03-012024-02-2911225000core:UnlistedNon-exchangeTraded2023-03-012024-02-2911225000dpl:CostSales2022-03-012023-02-2811225000dpl:DistributionCosts2022-03-012023-02-2811225000core:LandBuildings2022-03-012023-02-2811225000core:PlantMachinery2022-03-012023-02-2811225000core:Vehicles2022-03-012023-02-2811225000core:FurnitureFittings2022-03-012023-02-2811225000core:OfficeEquipment2022-03-012023-02-2811225000dpl:AdministrativeExpenses2022-03-012023-02-2811225000core:NetGoodwill2022-03-012023-02-2811225000core:IntangibleAssetsOtherThanGoodwill2022-03-012023-02-2811225000dpl:GroupUndertakings2022-03-012023-02-2811225000dpl:ParticipatingInterests2022-03-012023-02-2811225000dpl:GroupUndertakingscore:ListedExchangeTraded2022-03-012023-02-2811225000core:ListedExchangeTraded2022-03-012023-02-2811225000dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-03-012023-02-2811225000core:UnlistedNon-exchangeTraded2022-03-012023-02-2811225000core:NetGoodwill2024-02-2911225000core:IntangibleAssetsOtherThanGoodwill2024-02-2911225000core:LandBuildings2024-02-2911225000core:PlantMachinery2024-02-2911225000core:Vehicles2024-02-2911225000core:FurnitureFittings2024-02-2911225000core:OfficeEquipment2024-02-2911225000core:AfterOneYear2024-02-2911225000core:WithinOneYear2024-02-2911225000core:ListedExchangeTraded2024-02-2911225000core:UnlistedNon-exchangeTraded2024-02-2911225000core:ShareCapital2024-02-2911225000core:SharePremium2024-02-2911225000core:RevaluationReserve2024-02-2911225000core:OtherReservesSubtotal2024-02-2911225000core:RetainedEarningsAccumulatedLosses2024-02-2911225000core:NetGoodwill2023-02-2811225000core:IntangibleAssetsOtherThanGoodwill2023-02-2811225000core:LandBuildings2023-02-2811225000core:PlantMachinery2023-02-2811225000core:Vehicles2023-02-2811225000core:FurnitureFittings2023-02-2811225000core:OfficeEquipment2023-02-2811225000core:AfterOneYear2023-02-2811225000core:WithinOneYear2023-02-2811225000core:ListedExc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MDM PROPERTY LTD

Registered Number
11225000
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

MDM PROPERTY LTD
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

EDGE, Philip Adam
WASLEY, Mark James
WOOD, Mark Victor

Registered Address

The Courtyard Offices Wheldrake Lane
Elvington
York
YO41 4AZ

Registered Number

11225000 (England and Wales)
MDM PROPERTY LTD
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Called up share capital not paid200200
Fixed assets
Tangible assets317,13917,489
Investment property41,527,0001,320,521
1,544,1391,338,010
Current assets
Debtors41,54013,486
Cash at bank and on hand21587,479
41,755100,965
Creditors amounts falling due within one year5(227,573)(229,366)
Net current assets (liabilities)(185,618)(128,201)
Total assets less current liabilities1,358,5211,209,809
Creditors amounts falling due after one year6(1,059,967)(893,789)
Provisions for liabilities7(63,250)(56,407)
Net assets235,304259,613
Capital and reserves
Called up share capital200200
Other reserves346,87963,544
Profit and loss account(111,775)195,869
Shareholders' funds235,304259,613
The financial statements were approved and authorised for issue by the Board of Directors on 20 October 2024, and are signed on its behalf by:
WASLEY, Mark James
Director
Registered Company No. 11225000
MDM PROPERTY LTD
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
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).
Revenue from rendering of services
Revenue 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Straight Line 5 years

Straight line (years)
Fixtures and fittings5
Investment property
Investment properties are initially included at cost of purchased investment property and directly attributable expenditure. Investment properties are included in the balance sheet at fair value at the balance sheet date. Revaluation gains are recognised in the income statement. The gains are held in a non-distributable fair value reserve going forward. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
2.Average number of employees
The average number of employees in the year includes directors. The directors were not remunerated.

20242023
Average number of employees during the year22
3.Tangible fixed assets

Fixtures & fittings

Total

££
Cost or valuation
At 01 March 2318,33318,333
Additions3,6183,618
At 29 February 2421,95121,951
Depreciation and impairment
At 01 March 23844844
Charge for year3,9683,968
At 29 February 244,8124,812
Net book value
At 29 February 2417,13917,139
At 28 February 2317,48917,489
Depreciation rate is Straight Line - 5 years.
4.Investment property

£
Fair value at 01 March 231,320,521
Additions170,462
Fair value adjustments36,017
At 29 February 241,527,000
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables350-
Bank borrowings and overdrafts953953
Amounts owed to related parties225,870217,347
Other creditors40011,066
Total227,573229,366
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts1,059,967893,789
Total1,059,967893,789
A bounce back loan was taken out in May 2020 totalling £8,580. The carrying value at year end was £5,958 (2023: £6,912). The final repayment is due May 2026.
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)63,25056,407
Total63,25056,407