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Registration number: 14095998

W Madden (Property) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

W Madden (Property) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

W Madden (Property) Limited

Company Information

Directors

Mr Timothy David Madden

Mr Nicholas Iain Madden

Mr Paul Andrew Wilkinson

Registered office

Swinnow View
Swinnow Lane
Leeds
West Yorkshire
LS13 4TZ

Accountants

Fullertons Limited
Chartered Certified AccountantsManchester House
50A Oxford Road
Guiseley
Leeds
LS20 8AB

 

W Madden (Property) Limited

(Registration number: 14095998)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,765,498

1,765,498

Current assets

 

Debtors

5

48,665

-

Cash at bank and in hand

 

16,420

24,498

 

65,085

24,498

Creditors: Amounts falling due within one year

6

(44,847)

(29,302)

Net current assets/(liabilities)

 

20,238

(4,804)

Net assets

 

1,785,736

1,760,694

Capital and reserves

 

Called up share capital

7

59

59

Capital redemption reserve

204

204

Retained earnings

1,785,473

1,760,431

Shareholders' funds

 

1,785,736

1,760,694

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 April 2025 and signed on its behalf by:
 

.........................................
Mr Timothy David Madden
Director

 

W Madden (Property) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

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

The address of its registered office is:
Swinnow View
Swinnow Lane
Leeds
West Yorkshire
LS13 4TZ
England

These financial statements were authorised for issue by the Board on 8 April 2025.

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 except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises property rents receivable in the ordinary course of the company’s activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

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.

 

W Madden (Property) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Investment properties

2024
£

At 1 January

1,765,498

At 31 December

1,765,498

The properties were transferred at market value from W Madden (Insulation) Limited on 12 December 2022 as part of a restructuring of that company. The directors are of the opinion that the value has not changed since.

5

Debtors

Current

2024
£

2023
£

Other debtors

48,665

-

 

48,665

-

 

W Madden (Property) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

43,347

27,801

Accruals and deferred income

1,500

1,501

44,847

29,302

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £0.01 each

5,841

58.41

5,841

58.41

Ordinary A shares of £0.01 each

45

0.45

45

0.45

5,886

58.86

5,886

58.86

8

Related party transactions

Summary of transactions with other related parties

At the balance sheet date and included in other debtors is an amount of £48,665 ( 2023 : £Nil ) due from one of the company's tenants W Madden (Insulation) Limited a company with the same directors.