PTP Accounts Production v24.3.0.553 11051842 Board of Directors Board of Directors 1.12.23 30.11.24 30.11.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh110518422023-11-30110518422024-11-30110518422023-12-012024-11-30110518422022-11-30110518422022-12-012023-11-30110518422023-11-3011051842ns15:EnglandWales2023-12-012024-11-3011051842ns14:PoundSterling2023-12-012024-11-3011051842ns10:Director12023-12-012024-11-3011051842ns10:Director22023-12-012024-11-3011051842ns10:PrivateLimitedCompanyLtd2023-12-012024-11-3011051842ns10:SmallEntities2023-12-012024-11-3011051842ns10:AuditExempt-NoAccountantsReport2023-12-012024-11-3011051842ns10:SmallCompaniesRegimeForDirectorsReport2023-12-012024-11-3011051842ns10:SmallCompaniesRegimeForAccounts2023-12-012024-11-3011051842ns10:FullAccounts2023-12-012024-11-3011051842ns10:OrdinaryShareClass12023-12-012024-11-3011051842ns10:RegisteredOffice2023-12-012024-11-3011051842ns5:CurrentFinancialInstruments2024-11-3011051842ns5:CurrentFinancialInstruments2023-11-3011051842ns5:Non-currentFinancialInstruments2024-11-3011051842ns5:Non-currentFinancialInstruments2023-11-3011051842ns5:ShareCapital2024-11-3011051842ns5:ShareCapital2023-11-3011051842ns5:RetainedEarningsAccumulatedLosses2024-11-3011051842ns5:RetainedEarningsAccumulatedLosses2023-11-3011051842ns5:PlantMachinery2023-12-012024-11-3011051842ns5:MotorVehicles2023-11-3011051842ns5:MotorVehicles2023-12-012024-11-3011051842ns5:MotorVehicles2024-11-3011051842ns5:MotorVehicles2023-11-3011051842ns5:WithinOneYearns5:CurrentFinancialInstruments2024-11-3011051842ns5:WithinOneYearns5:CurrentFinancialInstruments2023-11-3011051842ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-11-3011051842ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-11-3011051842ns5:AcceleratedTaxDepreciationDeferredTax2024-11-3011051842ns5:AcceleratedTaxDepreciationDeferredTax2023-11-3011051842ns5:TaxLossesCarry-forwardsDeferredTax2024-11-3011051842ns5:TaxLossesCarry-forwardsDeferredTax2023-11-3011051842ns5:DeferredTaxation2023-11-3011051842ns5:DeferredTaxation2023-12-012024-11-3011051842ns5:DeferredTaxation2024-11-3011051842ns10:OrdinaryShareClass12024-11-30
REGISTERED NUMBER: 11051842 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

M & S PROPERTY DEVELOPMENT (SOUTH WEST)
LTD

M & S PROPERTY DEVELOPMENT (SOUTH WEST)
LTD (REGISTERED NUMBER: 11051842)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M & S PROPERTY DEVELOPMENT (SOUTH WEST)
LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTORS: Ms M C Hembury
S A Yakub





REGISTERED OFFICE: C/O Gordon Wood Scott & Partners Limited
Dean House
94 Whiteladies Road
Clifton
Bristol
BS8 2QX





BUSINESS ADDRESS: Flat 5
Alston Lodge
23 Queens Road
Cheltenham
Gloucestershire
GL50 2LX





REGISTERED NUMBER: 11051842 (England and Wales)





ACCOUNTANTS: Gordon Wood Scott & Partners Limited
Chartered Accountants
Dean House
94 Whiteladies Road
Clifton
Bristol
BS8 2QX

M & S PROPERTY DEVELOPMENT (SOUTH WEST)
LTD (REGISTERED NUMBER: 11051842)

BALANCE SHEET
30 NOVEMBER 2024

30.11.24 30.11.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 11,240 14,987

CURRENT ASSETS
Stocks 233,994 640,296
Debtors 5 1,014 3,256
Cash at bank 11,992 39
247,000 643,591
CREDITORS
Amounts falling due within one year 6 (165,293 ) (535,594 )
NET CURRENT ASSETS 81,707 107,997
TOTAL ASSETS LESS CURRENT
LIABILITIES

92,947

122,984

CREDITORS
Amounts falling due after more than one
year

7

(5,776

)

(15,830

)

PROVISIONS FOR LIABILITIES 8 (1,901 ) (2,848 )
NET ASSETS 85,270 104,306

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 85,170 104,206
SHAREHOLDERS' FUNDS 85,270 104,306

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

M & S PROPERTY DEVELOPMENT (SOUTH WEST)
LTD (REGISTERED NUMBER: 11051842)

BALANCE SHEET - continued
30 NOVEMBER 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 February 2025 and were signed on its behalf by:




Ms M C Hembury - Director



S A Yakub - Director


M & S PROPERTY DEVELOPMENT (SOUTH WEST)
LTD (REGISTERED NUMBER: 11051842)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1. STATUTORY INFORMATION

M & S Property Development (South West) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The ability to continue trading is dependent on the willingness of the directors to continue to extend finance to the company which they are both willing and able to do and have indicated that they will continue to do so for a period of at least 12 months from the date of signature of these financial statements.

Turnover
Turnover is stated net of value added tax and represents residential house sales which are recognised on completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks consist of property for resale and are stated at the lower of cost and net realisable value. Net realisable value is based on estimated selling price less any further costs expected to be incurred to completion and disposal.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Short term debtors are measured at transaction price less any impairment.

Short term creditors are measured at transaction price.

Cash is represented by deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Other financial liabilities, including borrowings are initially measured at fair value and subsequently measured at amortised cost using the effective interest rate method, with interest expense recognised on an effective yield basis.


M & S PROPERTY DEVELOPMENT (SOUTH WEST)
LTD (REGISTERED NUMBER: 11051842)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - NIL ) .

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 December 2023
and 30 November 2024 32,899
DEPRECIATION
At 1 December 2023 17,912
Charge for year 3,747
At 30 November 2024 21,659
NET BOOK VALUE
At 30 November 2024 11,240
At 30 November 2023 14,987

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Corporation tax - 1,945
VAT 47 29
Prepayments and accrued income 967 1,282
1,014 3,256

M & S PROPERTY DEVELOPMENT (SOUTH WEST)
LTD (REGISTERED NUMBER: 11051842)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts 10,648 10,648
Other creditors - 20,000
Directors' loan accounts 153,219 503,519
Accruals and deferred income 1,426 1,427
165,293 535,594

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.11.23
£    £   
Bank loans - 2-5 years 5,776 15,830

8. PROVISIONS FOR LIABILITIES
30.11.24 30.11.23
£    £   
Deferred tax
Accelerated capital allowances 2,136 2,848
Tax losses carried forward (235 ) -
1,901 2,848

Deferred
tax
£   
Balance at 1 December 2023 2,848
Provided during year (947 )
Balance at 30 November 2024 1,901

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.24 30.11.23
value: £    £   
100 Ordinary £1 100 100

10. RELATED PARTY DISCLOSURES

The directors have loaned £153,219 (2023 : £503,519) to the company. The loans are repayable on demand. No loan interest was charged during the year.