Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-3112023-06-01falseNo description of principal activity1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05027493 2023-06-01 2024-05-31 05027493 2022-06-01 2023-05-31 05027493 2024-05-31 05027493 2023-05-31 05027493 c:Director1 2023-06-01 2024-05-31 05027493 d:PlantMachinery 2023-06-01 2024-05-31 05027493 d:PlantMachinery 2024-05-31 05027493 d:PlantMachinery 2023-05-31 05027493 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 05027493 d:FurnitureFittings 2023-06-01 2024-05-31 05027493 d:FurnitureFittings 2024-05-31 05027493 d:FurnitureFittings 2023-05-31 05027493 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 05027493 d:OfficeEquipment 2023-06-01 2024-05-31 05027493 d:OfficeEquipment 2024-05-31 05027493 d:OfficeEquipment 2023-05-31 05027493 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 05027493 d:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 05027493 d:OtherPropertyPlantEquipment 2024-05-31 05027493 d:OtherPropertyPlantEquipment 2023-05-31 05027493 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 05027493 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 05027493 d:FreeholdInvestmentProperty 2024-05-31 05027493 d:FreeholdInvestmentProperty 2023-05-31 05027493 d:CurrentFinancialInstruments 2024-05-31 05027493 d:CurrentFinancialInstruments 2023-05-31 05027493 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 05027493 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 05027493 d:ShareCapital 2024-05-31 05027493 d:ShareCapital 2023-05-31 05027493 d:RetainedEarningsAccumulatedLosses 2024-05-31 05027493 d:RetainedEarningsAccumulatedLosses 2023-05-31 05027493 c:FRS102 2023-06-01 2024-05-31 05027493 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 05027493 c:FullAccounts 2023-06-01 2024-05-31 05027493 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 05027493 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 05027493










MODERN PROPERTY DEVELOPMENT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024



 
MODERN PROPERTY DEVELOPMENT LIMITED
REGISTERED NUMBER: 05027493

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
81,438
92,599

Investment property
 5 
1,637,333
1,637,333

  
1,718,771
1,729,932

Current assets
  

Debtors: amounts falling due within one year
 6 
2,645
12,672

Cash at bank and in hand
  
35,106
34,857

  
37,751
47,529

Creditors: amounts falling due within one year
 7 
(495,483)
(582,143)

Net current liabilities
  
 
 
(457,732)
 
 
(534,614)

Total assets less current liabilities
  
1,261,039
1,195,318

Provisions for liabilities
  

Deferred tax
  
(56,838)
(62,105)

  
 
 
(56,838)
 
 
(62,105)

Net assets
  
1,204,201
1,133,213


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
1,204,199
1,133,211

  
1,204,201
1,133,213


Page 1

 
MODERN PROPERTY DEVELOPMENT LIMITED
REGISTERED NUMBER: 05027493
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 February 2025.




M C Reeve
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
MODERN PROPERTY DEVELOPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The presentational currency of the Company is that of GBP.

The following principal accounting policies have been applied:

 
1.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
MODERN PROPERTY DEVELOPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.Accounting policies (continued)

 
1.3

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
1.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis.

Depreciation is provided on the following basis:

Plant & machinery
-
25%
reducing balance
Fixtures & fittings
-
10%
straight line
Office equipment
-
33%
straight line
Other fixed assets
-
4%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
MODERN PROPERTY DEVELOPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.Accounting policies (continued)

 
1.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
1.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


2.


General information

The Company is a private company, limited by shares and registered in England.
Its registered number is: 05027493
Its Registered Office is: 
25 Chiltern Road
Hitchin
Hertfordshire
SG4 9PJ


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

 
MODERN PROPERTY DEVELOPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Plant & machinery
Fixtures & fittings
Office equipment
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 June 2023
102,237
5,634
1,791
61,700
171,362



At 31 May 2024

102,237
5,634
1,791
61,700
171,362



Depreciation


At 1 June 2023
72,103
1,127
597
4,936
78,763


Charge for the year on owned assets
7,533
563
597
2,468
11,161



At 31 May 2024

79,636
1,690
1,194
7,404
89,924



Net book value



At 31 May 2024
22,601
3,944
597
54,296
81,438



At 31 May 2023
30,134
4,507
1,194
56,764
92,599


5.


Investment property


Freehold investment property

£



Valuation


At 1 June 2023
1,637,333



At 31 May 2024
1,637,333

The 2024 valuations were made by the director, on an open market value for existing use basis.


2024
2023
£
£


Historic cost
1,120,683
1,120,683

1,120,683
1,120,683

Page 6

 
MODERN PROPERTY DEVELOPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


Debtors

2024
2023
£
£


Trade debtors
2,645
1,999

Amounts owed by related parties
-
750

Prepayments and accrued income
-
9,923

2,645
12,672



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
12,058
11,394

Amounts owed to related parties
17,250
-

Corporation tax
25,317
7,040

Other taxation and social security
25,146
24,230

Other creditors
413,862
537,629

Accruals and deferred income
1,850
1,850

495,483
582,143


 
Page 7