Registered number |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2024 | 2023 | |||||
(as restated) | |||||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 3 | ||||||
Current assets | |||||||
Debtors | 4 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 5 | ( |
( |
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Net current liabilities | ( |
( |
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Total assets less current liabilities | |||||||
Creditors: amounts falling due after more than one year | 6 | ( |
( |
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Provisions for liabilities | ( |
( |
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Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Revaluation reserve | 8 | ||||||
Profit and loss account | |||||||
Shareholders' funds | |||||||
M Salamat | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated. |
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Turnover | ||||||||
Investment properties | ||||||||
Debtors and creditors receivable/payable within one year | ||||||||
Loans and borrowings | ||||||||
Taxation | ||||||||
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. |
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2 | Employees | 2024 | 2023 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
3 | Tangible fixed assets | |||||||
Investment Properties | ||||||||
£ | ||||||||
Cost or valuation | ||||||||
At 31 March 2023 as restated | ||||||||
Deficit on revaluation | ( |
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Disposals | ( |
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At 30 March 2024 | ||||||||
Depreciation | ||||||||
At 30 March 2024 | - | |||||||
Net book value | ||||||||
At 30 March 2024 | ||||||||
At 30 March 2023 | ||||||||
The investment properties were valued on an open market basis by a director of the company. The historic cost of the properties is £1,555,785 (2023 - £1,584,181). |
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4 | Debtors | 2024 | 2023 | |||||
£ | £ | |||||||
Rental income receivable | 2,763 | 21,188 | ||||||
Other taxation | 2,285 | - | ||||||
Other debtors | ||||||||
5 | Creditors: amounts falling due within one year | 2024 | 2023 | |||||
£ | £ | |||||||
Bank loans and overdrafts | ||||||||
Trade creditors | - | |||||||
Taxation and social security costs | ||||||||
Directors' loan account | 467,901 | 391,290 | ||||||
Deferred income | 1,875 | 4,175 | ||||||
Other creditors and accruals | ||||||||
6 | Creditors: amounts falling due after one year | 2024 | 2023 | |||||
£ | £ | |||||||
Bank loans | ||||||||
7 | Loans | 2024 | 2023 | |||||
£ | £ | |||||||
Creditors include: | ||||||||
Instalments falling due for payment after more than five years | 82,642 | 255,181 | ||||||
Secured bank loans | 291,123 | 374,105 | ||||||
8 | Revaluation reserve | 2024 | 2023 | |||||
£ | £ | |||||||
At 31 March 2023 as restated | ||||||||
(Loss)/gain on revaluation of land and buildings | ( |
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Deferred taxation arising on the revaluation of land and buildings | ( |
( |
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At 30 March 2024 | ||||||||
9 | Prior year adjustment | |||||||
During the year it was noted that the valuation of an investment property was overstated. As a consequence, investment properties and provisions for liabilities were both overstated. The adjustments, made to the year ended 31st March 2023 figures, are as follows: - Reduce fixed asset investment properties by £180,000. - Reduce the deferred tax provision by £34,200 - Reduce the revaluation reserve by £145,800. |
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10 | Other information | |||||||
MD ENTERPRISE BUILDING LTD is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
Enterprise House | ||||||||
Broadfield Court | ||||||||
Sheffield | ||||||||
S8 0XF |