Registered number
09284101
MD Rentals & Developments Ltd
Unaudited Filleted Accounts
30 April 2024
MD Rentals & Developments Ltd
Registered number: 09284101
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 260,000 260,000
Current assets
Debtors 4 - 37,883
Cash at bank and in hand 6,236 6,789
6,236 44,672
Creditors: amounts falling due within one year 5 (69,977) (75,948)
Net current liabilities (63,741) (31,276)
Total assets less current liabilities 196,259 228,724
Creditors: amounts falling due after more than one year 6 (186,918) (186,918)
Net assets 9,341 41,806
Capital and reserves
Called up share capital 1 1
Revaluation reserve 7 59,614 59,614
Profit and loss account (50,274) (17,809)
Shareholder's funds 9,341 41,806
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M Dunn
Director
Approved by the board on 9 April 2025
MD Rentals & Developments Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings not depreciated
Plant and machinery over 3 years
Fixtures, fittings, tools and equipment over 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 May 2023 260,000 1,266 261,266
At 30 April 2024 260,000 1,266 261,266
Depreciation
At 1 May 2023 - 1,266 1,266
At 30 April 2024 - 1,266 1,266
Net book value
At 30 April 2024 260,000 - 260,000
At 30 April 2023 260,000 - 260,000
4 Debtors 2024 2023
£ £
Other debtors - 37,883
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,329 6,329
Other creditors 63,648 69,619
69,977 75,948
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 186,918 186,918
7 Revaluation reserve 2024 2023
£ £
At 1 May 2023 59,614 -
Gain on revaluation of land and buildings - 59,614
At 30 April 2024 59,614 59,614
8 Loans by directors
Description and conditions B/fwd Repaid to Introduced by C/fwd
£ £ £ £
Mr M Dunn
Directors Loan 68,720 (7,550) 954 62,124
68,720 (7,550) 954 62,124
At the end of the financial year the business owed Mr Dunn £62,124. This amount is repayable on demand and is included in Other creditors.
9 Other information
MD Rentals & Developments Ltd is a private company limited by shares and incorporated in England. Its registered office is:
367 Chester Road
Little Sutton
Ellesmere Port
Cheshire
CH66 3RQ
8 Charges
Paratus AMC Limited holds a fixed charge over the freehold property of the company in respect of a mortgage in amount of £80,825.
Lendinvest Btl Limited holds a fixed charge over the freehold property of the company in respect of a mortgage outstanding.
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