Michaud Property International Ltd 11237882 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is other letting of own property. Digita Accounts Production Advanced 6.30.9574.0 true 11237882 2023-04-01 2024-03-31 11237882 2024-03-31 11237882 bus:Director1 1 2024-03-31 11237882 core:CurrentFinancialInstruments 2024-03-31 11237882 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 11237882 core:OtherResidualIntangibleAssets 2024-03-31 11237882 bus:SmallEntities 2023-04-01 2024-03-31 11237882 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11237882 bus:FilletedAccounts 2023-04-01 2024-03-31 11237882 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11237882 bus:RegisteredOffice 2023-04-01 2024-03-31 11237882 bus:Director1 2023-04-01 2024-03-31 11237882 bus:Director1 1 2023-04-01 2024-03-31 11237882 bus:Director2 2023-04-01 2024-03-31 11237882 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11237882 core:IntangibleAssetsOtherThanGoodwill 2023-04-01 2024-03-31 11237882 countries:EnglandWales 2023-04-01 2024-03-31 11237882 2023-03-31 11237882 bus:Director1 1 2023-03-31 11237882 core:OtherResidualIntangibleAssets 2023-03-31 11237882 2022-04-01 2023-03-31 11237882 2023-03-31 11237882 bus:Director1 1 2023-03-31 11237882 core:CurrentFinancialInstruments 2023-03-31 11237882 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 11237882 bus:Director1 1 2022-04-01 2023-03-31 11237882 bus:Director1 1 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 11237882

Michaud Property International Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Michaud Property International Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Michaud Property International Ltd

Company Information

Directors

Mrs PA Michaud

BCR Michaud

Registered office

Suite A4 Skylon Court
Rotherwas
Hereford
HR2 6JS

Accountants

Boon and Worth Limited
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

 

Michaud Property International Ltd

(Registration number: 11237882)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

5

143,000

140,712

Current assets

 

Debtors

1,102

917

Cash at bank and in hand

 

590

1,414

 

1,692

2,331

Creditors: Amounts falling due within one year

6

(159,802)

(163,947)

Net current liabilities

 

(158,110)

(161,616)

Total assets less current liabilities

 

(15,110)

(20,904)

Provisions for liabilities

(572)

-

Net liabilities

 

(15,682)

(20,904)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(15,782)

(21,004)

Shareholders' deficit

 

(15,682)

(20,904)

 

Michaud Property International Ltd

(Registration number: 11237882)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 November 2024 and signed on its behalf by:
 

.........................................
Mrs PA Michaud
Director

 

Michaud Property International Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite A4 Skylon Court
Rotherwas
Hereford
HR2 6JS
United Kingdom

These financial statements were authorised for issue by the Board on 7 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Michaud Property International Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Development Cost

20 % Straight Line Method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Michaud Property International Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 April 2023

20,175

20,175

At 31 March 2024

20,175

20,175

Amortisation

At 1 April 2023

20,175

20,175

At 31 March 2024

20,175

20,175

Carrying amount

At 31 March 2024

-

-

5

Investment properties

2024
£

At 1 April

140,712

Fair value adjustments

2,288

At 31 March

143,000

There has been no valuation of investment property by an independent valuer.

 

Michaud Property International Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

730

-

Accruals and deferred income

1,680

1,680

Other creditors

157,392

162,267

159,802

163,947

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Issued and paid up of £1 each

100

100

100

100

       

8

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Mrs PA Michaud

Directors' loan account

(162,267)

4,995

(120)

(157,393)

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Mrs PA Michaud

Directors' loan account

(165,204)

3,056

(120)

(162,267)