Registered number
14687032
Melbeck Developments Ltd
Unaudited Filleted Accounts
28 February 2024
Melbeck Developments Ltd
Registered number: 14687032
Balance Sheet
as at 28 February 2024
Notes 2024
£
Fixed assets
Investment property 4 450,000
Current assets
Debtors 5 1,810
Cash at bank and in hand 88,516
90,326
Creditors: amounts falling due within one year 6 (127,861)
Net current liabilities (37,535)
Total assets less current liabilities 412,465
Creditors: amounts falling due after more than one year 7 (339,152)
Provisions for liabilities (18,303)
Net assets 55,010
Capital and reserves
Called up share capital 100
Fair value reserve 9 57,595
Profit and loss account (2,685)
Shareholders' funds 55,010
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Miss J F Lancaster
Director
Approved by the board on 24/11/2024.
Melbeck Developments Ltd
Notes to the Accounts
for the period from 23 February 2023 to 28 February 2024
1 Statutory information
Melbeck Developments Ltd is a private company, limited by shares, registered in England and Wales.
The company's registered number and registered office address are as below:
Registered number: 14687032
Registered office: 2 Bewerley Mews
Melbeck Close
Menston
LS29 6RS
The presentation currency of the financial statements is the Pound Sterling, which is the functional currency of the company, rounded to the nearest £1.
2 Accounting policies
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" 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.
Turnover
Turnover represents rents received and receivable, excluding VAT.
Investment property
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
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.
2 Accounting policies (continued)
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
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.
3 Employees 2024
Number
Average number of persons employed by the company 3
4 Investment property
Total
£
Fair value
Additions 373,207
Fair value gain 76,793
At 28 February 2024 450,000
Historical cost
At 28 February 2024 373,207
The investment property was valued on an open market basis on 28 February 2024 by the directors.
5 Debtors 2024
£
Trade debtors 610
Other debtors 1,200
1,810
6 Creditors: amounts falling due within one year 2024
£
Accruals and deferred income 775
Directors' current account 125,886
Other creditors 1,200
127,861
7 Creditors: amounts falling due after one year 2024
£
Bank loans 339,152
8 Loans 2024
£
Creditors include:
Instalments falling due for payment after more than five years 339,152
Secured bank loans 339,152
Bank loans are secured over the properties to which they relate.
9 Fair value reserve 2024
£
Reserve transfer 57,595
At 28 February 2024 57,595
10 Related party transactions
During the year £125,986 was advanced from and £100 was repaid to the directors. An amount of £125,886 remained due to the directors at the period end.
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