Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-312023-08-01falseproperty development22truetruefalse 12576994 2023-08-01 2024-07-31 12576994 2022-08-01 2023-07-31 12576994 2024-07-31 12576994 2023-07-31 12576994 2022-08-01 12576994 c:Director1 2023-08-01 2024-07-31 12576994 d:CurrentFinancialInstruments 2024-07-31 12576994 d:CurrentFinancialInstruments 2023-07-31 12576994 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 12576994 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 12576994 d:ShareCapital 2024-07-31 12576994 d:ShareCapital 2023-07-31 12576994 d:ShareCapital 2022-08-01 12576994 d:RetainedEarningsAccumulatedLosses 2023-08-01 2024-07-31 12576994 d:RetainedEarningsAccumulatedLosses 2024-07-31 12576994 d:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 12576994 d:RetainedEarningsAccumulatedLosses 2023-07-31 12576994 d:RetainedEarningsAccumulatedLosses 2022-08-01 12576994 c:FRS102 2023-08-01 2024-07-31 12576994 c:Audited 2023-08-01 2024-07-31 12576994 c:FullAccounts 2023-08-01 2024-07-31 12576994 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 12576994 c:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 12576994 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 12576994










FE MH DEV CO LTD










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
FE MH DEV CO LTD
 

CONTENTS



Page
Balance Sheet
 
1
Statement of Changes in Equity
 
2
Notes to the Financial Statements
 
3 - 7


 
FE MH DEV CO LTD
REGISTERED NUMBER: 12576994

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
243,642
2,949,831

Cash at bank and in hand
 5 
9,237
63,634

  
252,879
3,013,465

Creditors: amounts falling due within one year
 6 
(118,973)
(1,620,757)

Net current assets
  
 
 
133,906
 
 
1,392,708

Total assets less current liabilities
  
133,906
1,392,708

  

Net assets
  
133,906
1,392,708


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
133,904
1,392,706

Shareholders' funds
  
133,906
1,392,708


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 April 2025.




................................................
A J Crowther
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 1

 
FE MH DEV CO LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 August 2023
2
1,392,706
1,392,708


Comprehensive income for the year

Profit for the year
-
141,198
141,198


Contributions by and distributions to owners

Dividends: Equity capital
-
(1,400,000)
(1,400,000)


At 31 July 2024
2
133,904
133,906



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 August 2022
2
966,952
966,954


Comprehensive income for the period

Profit for the year
-
425,754
425,754


At 31 July 2023
2
1,392,706
1,392,708


The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
FE MH DEV CO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

The company is a private company limited by shares, and is incorporated in England and Wales (12576994). The address of its registered office is 25 Oldbury Place, London, United Kingdom, W1U 5PN.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The directors have not prepared the financial statements on a going concern basis as they intend to liquidate the Company following the completion of the property development. The accounts have been prepared using the normal recognition and measurement criteria of FRS 102, only deviating from these where adequate justification exists.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
FE MH DEV CO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

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 in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due within the operating cycle fall into this category of financial instruments.

 

Page 4

 
FE MH DEV CO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 5

 
FE MH DEV CO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

  
2.10

Construction contracts

When the outcome of a contract can be measured reliably, the entity will recognise both income and costs by reference to the percentage of completion of the contract. This is normally measured by the proportion of the contract costs incurred for work performed to date compared to the estimated contract costs, except, where this would not be representative of the stage of completion. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably, and its receipt is considered probable.
If the outcome cannot be reliably measured, all costs are expensed and revenue is only recognised to the extent that it is probable that costs are recoverable.
When it is probable that a loss will occur on a contract, this is recognised in full immediately as an onerous contract provision.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Debtors

2024
2023
£
£


Trade debtors
-
179,505

Amounts owed by group undertakings
127,049
-

Amounts recoverable on long term contracts
116,593
2,770,326

243,642
2,949,831



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
9,237
63,634


Page 6

 
FE MH DEV CO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
108,612
377,884

Amounts owed to group undertakings
-
984,623

Corporation tax
-
91,328

Other taxation and social security
6,361
108,227

Accruals and deferred income
4,000
58,695

118,973
1,620,757



7.


Related party transactions

The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' not to disclose related party transactions between two or more wholly owned members of a group.


8.


Controlling party

The ultimate parent company is Frontier Estates Limited. The ultimate controlling parties throughout this and the previous  period were the directors of the parent company.
The accounts of the company are consolidated within the accounts of Frontier Estates Limited and a copy of the consolidated accounts can be obtained from the company's registered address at 25 Oldbury Place, London, W1U 5PN.


9.


Auditors' information

The audit report is unqualified. There are no matters to report.

The audit report was signed on 18 April 2025 by Abdultaiyab Pisavadi BSc FCA (Senior Statutory Auditor) on behalf of Sumer Auditco Limited.

 
Page 7