2023-03-012024-02-292024-02-29false13888977MMW DEVELOPMENTS 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MMW DEVELOPMENTS LTD

Registered Number
13888977
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

MMW DEVELOPMENTS LTD
Company Information
for the year from 1 March 2023 to 29 February 2024

Director

HARP, Steven Michael

Registered Address

1 Gemini Court, 42a Throwley Way
Sutton
SM1 4AF

Registered Number

13888977 (England and Wales)
MMW DEVELOPMENTS LTD
Statement of Financial Position
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investment property4283,600-
283,600-
Current assets
Debtors52,814-
Cash at bank and on hand1,509100
4,323100
Creditors amounts falling due within one year6(11,574)-
Net current assets (liabilities)(7,251)100
Total assets less current liabilities276,349100
Creditors amounts falling due after one year7(284,690)-
Net assets(8,341)100
Capital and reserves
Called up share capital100100
Profit and loss account(8,441)-
Shareholders' funds(8,341)100
The financial statements were approved and authorised for issue by the Director on 21 November 2024, and are signed on its behalf by:
HARP, Steven Michael
Director
Registered Company No. 13888977
MMW DEVELOPMENTS 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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
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.
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
2.Average number of employees

20242023
Average number of employees during the year10
3.Deferred tax
The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate (25%) when the asset is expected to be realised.
4.Investment property
The fair value of the investment property has been arrived at on the basis of a valuation made by the directors on an open market value basis by reference to market evidence of transactions prices for similar properties.

£
Additions283,600
At 29 February 24283,600
5.Debtors: amounts due after one year

2024

2023

££
Deferred tax asset, debtors2,814-
Total2,814-
6.Creditors: amounts due within one year

2024

2023

££
Other creditors11,574-
Total11,574-
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts51,550-
Other creditors233,140-
Total284,690-
8.Further information regarding the company's financial position
Paragon Bank PLC contains floating charge. Floating charge covers all the property, 29 Grenvile Court, Overstrand Ave, Littlehampton, West Sussex BN16 2JS.