Maldon Trading Ideas Retail Limited 12204888 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is that of commercial rental properties Digita Accounts Production Advanced 6.30.9574.0 true true 12204888 2023-07-01 2024-06-30 12204888 2024-06-30 12204888 bus:OrdinaryShareClass1 2024-06-30 12204888 core:CurrentFinancialInstruments 2024-06-30 12204888 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 12204888 core:FurnitureFittingsToolsEquipment 2024-06-30 12204888 bus:SmallEntities 2023-07-01 2024-06-30 12204888 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 12204888 bus:FilletedAccounts 2023-07-01 2024-06-30 12204888 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 12204888 bus:RegisteredOffice 2023-07-01 2024-06-30 12204888 bus:Director1 2023-07-01 2024-06-30 12204888 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 12204888 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 12204888 bus:Agent1 2023-07-01 2024-06-30 12204888 core:FurnitureFittings 2023-07-01 2024-06-30 12204888 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 12204888 countries:AllCountries 2023-07-01 2024-06-30 12204888 2023-06-30 12204888 core:FurnitureFittingsToolsEquipment 2023-06-30 12204888 2022-07-01 2023-06-30 12204888 2023-06-30 12204888 bus:OrdinaryShareClass1 2023-06-30 12204888 core:CurrentFinancialInstruments 2023-06-30 12204888 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 12204888 core:FurnitureFittingsToolsEquipment 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registrar

Registration number: 12204888

Maldon Trading Ideas Retail Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Maldon Trading Ideas Retail Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Maldon Trading Ideas Retail Limited

Company Information

Directors

DA Clarkson

Registered office

3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

Bankers

Barclays Bank PLC
Chelmsford
40-41 High Street
Chelmsford
Essex
CM1 1BE

Accountants

Lambert Chapman LLP
Chartered accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

Maldon Trading Ideas Retail Limited

(Registration number: 12204888)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

445

593

Investment property

5

550,000

530,625

 

550,445

531,218

Current assets

 

Debtors

6

782

347

Cash at bank and in hand

 

10,073

9,048

 

10,855

9,395

Creditors: Amounts falling due within one year

7

(546,333)

(570,470)

Net current liabilities

 

(535,478)

(561,075)

Total assets less current liabilities

 

14,967

(29,857)

Provisions for liabilities

(111)

-

Net assets/(liabilities)

 

14,856

(29,857)

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

14,855

(29,858)

Shareholders' funds/(deficit)

 

14,856

(29,857)

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 9 December 2024
 

DA Clarkson
Director

 

Maldon Trading Ideas Retail Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

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

The address of its registered office is: 3 Warners Mill, Silks Way, Braintree, Essex, CM7 3GB, England.

These financial statements were authorised for issue by the director on 9 December 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.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Summary of disclosure exemptions

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 for the requirement to prepare consolidated financial statements, on the grounds that it is a small size group.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect to the rental of an investment property on an accrual basis. Revenue is recognised over the date of each rental period.

Tax

Current Tax is recognised in the profit and loss account, 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.

Deferred tax is recognised on material temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

 

Maldon Trading Ideas Retail Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Depreciation

Depreciation is charged so as to write off the cost or valuation of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% Reducing Balance

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.

Trade debtors

Trade debtors are amounts due from tenants in respect of rents receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 2).

 

Maldon Trading Ideas Retail Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Office equipment
 £

Total
£

Cost or valuation

At 1 July 2023

749

749

At 30 June 2024

749

749

Depreciation

At 1 July 2023

156

156

Charge for the year

148

148

At 30 June 2024

304

304

Carrying amount

At 30 June 2024

445

445

At 30 June 2023

593

593

5

Investment properties

2024
£

At 1 July

530,625

Fair value adjustments

19,375

At 30 June

550,000

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

6

Debtors

2024
£

2023
£

Prepayments

782

347

782

347

 

Maldon Trading Ideas Retail Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

 

Trade creditors

 

-

440

Amounts owed to group undertakings and undertakings in which the company has a participating interest

526,703

550,085

Taxation and social security

 

9,195

12,943

Accruals and deferred income

 

10,123

6,690

Other creditors

 

312

312

 

546,333

570,470

Amounts owed to group undertakings are not subject to interest and the full balance is not likely to be repaid within one year.

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

9

Transition to FRS 102

These financial statements are the first financial statements of Maldon Trading Ideas Retail Limited to be prepared under FRS 102. The effective date of transition to FRS 102 is 1st July 2022.

The transition to FRS 102 from FRS 105 has had no material impact on the Balance Sheet, Profit & Loss or Statement of Changes in Equity.