IRIS Accounts Production v24.2.0.383 07320671 director 1.4.23 31.3.24 31.3.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh073206712023-03-31073206712024-03-31073206712023-04-012024-03-31073206712022-03-31073206712022-04-012023-03-31073206712023-03-3107320671ns15:EnglandWales2023-04-012024-03-3107320671ns14:PoundSterling2023-04-012024-03-3107320671ns10:Director12023-04-012024-03-3107320671ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3107320671ns10:SmallEntities2023-04-012024-03-3107320671ns10:AuditExemptWithAccountantsReport2023-04-012024-03-3107320671ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3107320671ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3107320671ns10:FullAccounts2023-04-012024-03-3107320671ns10:RegisteredOffice2023-04-012024-03-3107320671ns5:CurrentFinancialInstruments2024-03-3107320671ns5:CurrentFinancialInstruments2023-03-3107320671ns5:Non-currentFinancialInstruments2024-03-3107320671ns5:Non-currentFinancialInstruments2023-03-3107320671ns5:ShareCapital2024-03-3107320671ns5:ShareCapital2023-03-3107320671ns5:CapitalRedemptionReserve2024-03-3107320671ns5:CapitalRedemptionReserve2023-03-3107320671ns5:RetainedEarningsAccumulatedLosses2024-03-3107320671ns5:RetainedEarningsAccumulatedLosses2023-03-3107320671ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-03-3107320671ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-03-3107320671ns5:Non-currentFinancialInstruments2023-04-012024-03-3107320671ns5:DeferredTaxation2023-03-3107320671ns5:DeferredTaxation2024-03-31
REGISTERED NUMBER: 07320671 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

MAYA PROPERTIES LTD

MAYA PROPERTIES LTD (REGISTERED NUMBER: 07320671)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


MAYA PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: R M Pindoria





REGISTERED OFFICE: 505 Pinner Road
Harrow
Middlesex
HA2 6EH





REGISTERED NUMBER: 07320671 (England and Wales)





ACCOUNTANTS: STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MAYA PROPERTIES LTD


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Maya Properties Ltd for the year ended 31 March 2024 which comprise the Profit and Loss, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Maya Properties Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Maya Properties Ltd and state those matters that we have agreed to state to the director of Maya Properties Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Maya Properties Ltd and its director for our work or for this report.

It is your duty to ensure that Maya Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Maya Properties Ltd. You consider that Maya Properties Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Maya Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH


20 November 2024

MAYA PROPERTIES LTD (REGISTERED NUMBER: 07320671)

BALANCE SHEET
31 MARCH 2024

31/3/24 31/3/23
Notes £ £ £ £
FIXED ASSETS
Investment property 4 1,465,000 1,465,000

CURRENT ASSETS
Debtors 5 3,469 -
Cash at bank 2,435 10,125
5,904 10,125
CREDITORS
Amounts falling due within one year 6 3,047 1,320
NET CURRENT ASSETS 2,857 8,805
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,467,857

1,473,805

CREDITORS
Amounts falling due after more than one
year

7

(1,142,879

)

(1,124,134

)

PROVISIONS FOR LIABILITIES 8 (43,840 ) (43,840 )
NET ASSETS 281,138 305,831

CAPITAL AND RESERVES
Called up share capital 100 100
Capital contribution 9 - 9,288
Retained earnings 9 281,038 296,443
SHAREHOLDERS' FUNDS 281,138 305,831

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

MAYA PROPERTIES LTD (REGISTERED NUMBER: 07320671)

BALANCE SHEET - continued
31 MARCH 2024


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 Profit and Loss has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 November 2024 and were signed by:





R M Pindoria - Director


MAYA PROPERTIES LTD (REGISTERED NUMBER: 07320671)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Maya Properties Ltd 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.

Turnover
Turnover represents rents receivable, net of value added tax. Turnover is recognised on a rent receivable basis to the balance sheet date.

Investment property
Investment property whose fair value can be measured reliably without undue cost or effort shall be measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Under pervious UK GAAP, investment property was valued on an open market basis.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Capital contribution
All long term financing transactions from the parent company are recorded at present value, using a market rate for a similar debt instrument in accordance with FRS102. The difference in the present value and book value is recognised in the capital contribution account. The notional interest charged during the year to increase the present value of the loan, is charged to the profit & loss account and then transferred from profit and loss reserve account to capital contribution.

Interest payable
Interest payable is recognised in profit and loss as they accrue, using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

MAYA PROPERTIES LTD (REGISTERED NUMBER: 07320671)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,465,000
NET BOOK VALUE
At 31 March 2024 1,465,000
At 31 March 2023 1,465,000

Fair value at 31 March 2024 is represented by:
£
Valuation in 2014 92,187
Valuation in 2015 125,000
Valuation in 2016 50,000
Valuation in 2017 40,000
Valuation in 2021 12,870
Cost 1,144,943
1,465,000

In the opinion of the directors the fair value of the investment properties as at 31 March 2024 is not significantly different to that stated above.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£ £
Prepayments and accrued income 3,469 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£ £
Directors' current accounts 1,667 -
Accrued expenses 1,380 1,320
3,047 1,320

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£ £
Bank loans more 5 yrs non-inst 962,540 961,483
Other creditors 180,339 162,651
1,142,879 1,124,134

MAYA PROPERTIES LTD (REGISTERED NUMBER: 07320671)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31/3/24 31/3/23
£ £
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 962,540 961,483

The bank loans are secured by a legal charge over the investment properties and by personal guarantee of the directors. The loans are interest only, fully repayable between 15 to 20 years period and the rates of interest charged are between 2.5% and 5% above the bank base rate.

8. PROVISIONS FOR LIABILITIES
31/3/24 31/3/23
£ £
Deferred tax 43,840 43,840

Deferred tax
£
Balance at 1 April 2023 43,840
Balance at 31 March 2024 43,840

9. RESERVES

Retained earnings is made of undistributable profit and loss reserves of £276,217 (2022: £276,217).