Company registration number 11397542 (England and Wales)
MADAN MAINI PROPERTIES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
MADAN MAINI PROPERTIES LTD
COMPANY INFORMATION
Director
Dr N Maini
Company number
11397542
Registered office
168a Uxbridge Road
Pinner
HA5 4DR
Accountants
Aequitas Accountants Ltd
Elthorne Gate
64 High Street
Pinner
Middlesex
HA5 5QA
MADAN MAINI PROPERTIES LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
MADAN MAINI PROPERTIES LTD
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
750,375
750,375
Current assets
Debtors
4
2,442
1,415
Cash at bank and in hand
4,299
57,836
6,741
59,251
Creditors: amounts falling due within one year
5
(398,997)
(455,375)
Net current liabilities
(392,256)
(396,124)
Total assets less current liabilities
358,119
354,251
Creditors: amounts falling due after more than one year
6
(357,708)
(350,695)
Net assets
411
3,556
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
311
3,456
Total equity
411
3,556

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

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

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 19 March 2025
Dr N Maini
Director
Company registration number 11397542 (England and Wales)
MADAN MAINI PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Madan Maini Properties Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 168a Uxbridge Road, Pinner, HA5 4DR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

As of the balance sheet date, the company reported net current liabilities of £392,256, primarily attributable to amounts owed to the directors totaltrueling £396,450. However, the balance sheet reflects a positive net asset position. The director has confirmed that she will not demand repayment of these balances for at least twelve months following the approval date of these financial statements and has committed to providing additional financial support as required. Therefore, the financial statements have been prepared on a going concern basis.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

MADAN MAINI PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Investment property
2024
£
Fair value
At 1 July 2023 and 30 June 2024
750,375

The above disclosed freehold property is shown at the most recent valuation.

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
738
-
0
Other debtors
18
263
Prepayments and accrued income
1,686
1,152
2,442
1,415
MADAN MAINI PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
-
0
1,075
Other creditors
398,997
454,300
398,997
455,375
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
357,708
350,695

The above disclosed bank loan is secured by a fixed charge in favour of Paragon Bank PLC against the property 91 Braithwaite Gardens, HA7 2QG.

Amounts included above which fall due after five years are as follows:
Payable other than by instalments
357,708
350,695
7
Directors' transactions

At the end of the financial year, the director was owed £396,450 (2023: £452,021). The loan is unsecured, interest-free, and repayable on demand.

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