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COMPANY REGISTRATION NUMBER: SC766653
Modern Housing Developments Limited
Filleted Unaudited Financial Statements
31 July 2024
Modern Housing Developments Limited
Financial Statements
Period from 20 April 2023 to 31 July 2024
Contents
Page
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
3
Modern Housing Developments Limited
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Modern Housing Developments Limited
Period from 20 April 2023 to 31 July 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the period ended 31 July 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
GILLILAND & COMPANY Chartered Accountants
216 West George Street Glasgow G2 2PQ
13 January 2025
Modern Housing Developments Limited
Statement of Financial Position
31 July 2024
31 Jul 24
Note
£
£
Current assets
Debtors
4
5,485,563
Cash at bank and in hand
63
------------
5,485,626
Creditors: amounts falling due within one year
5
5,000
------------
Net current assets
5,480,626
------------
Total assets less current liabilities
5,480,626
Creditors: amounts falling due after more than one year
6
5,480,624
------------
Net assets
2
------------
Capital and reserves
Called up share capital
2
----
Shareholders funds
2
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 July 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 financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 13 January 2025 , and are signed on behalf of the board by:
Mr A Smith
Director
Company registration number: SC766653
Modern Housing Developments Limited
Notes to the Financial Statements
Period from 20 April 2023 to 31 July 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 216 West George Street, Glasgow, G2 2PQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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 of value.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Debtors
31 Jul 24
£
Other debtors
5,485,563
------------
5. Creditors: amounts falling due within one year
31 Jul 24
£
Other creditors
5,000
-------
6. Creditors: amounts falling due after more than one year
31 Jul 24
£
Bank loans and overdrafts
5,480,624
------------