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Company Registration No. 12713671 (England and Wales)
Maison Dover Properties Ltd Unaudited accounts for the year ended 31 July 2024
Maison Dover Properties Ltd Unaudited accounts Contents
Page
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Maison Dover Properties Ltd Company Information for the year ended 31 July 2024
Director
Richard Holdsworth
Company Number
12713671 (England and Wales)
Registered Office
12 Elm Park Gardens Dover Kent CT17 9NQ England
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Maison Dover Properties Ltd Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,159 
1,739 
Investment property
550,000 
485,000 
551,159 
486,739 
Current assets
Cash at bank and in hand
2,104 
5,267 
Creditors: amounts falling due within one year
(120,521)
(121,633)
Net current liabilities
(118,417)
(116,366)
Total assets less current liabilities
432,742 
370,373 
Creditors: amounts falling due after more than one year
(304,500)
(304,500)
Provisions for liabilities
Deferred tax
(22,385)
(10,424)
Net assets
105,857 
55,449 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
105,855 
55,447 
Shareholders' funds
105,857 
55,449 
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 18 April 2025 and were signed on its behalf by
Richard Holdsworth Director Company Registration No. 12713671
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Maison Dover Properties Ltd Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
Maison Dover Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 12713671. The registered office is 12 Elm Park Gardens, Dover, Kent, CT17 9NQ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.
3
Accounting policies
These financial statements for the year ended 31 July 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 August 2022. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in note 12 below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Transition to FRS 102 Section 1A
As part of the transition, the company has applied the requirements of Section 35 of FRS 102 (First-time Adoption). No exemption has been taken in relation to investment property, and the comparative figures have been restated to reflect fair value movements and the recognition of associated deferred tax, as required under FRS 102.
Prior period errors
During the preparation of these financial statements, the company identified two classification errors in the comparative figures: 1. A term loan was incorrectly split between creditors due within one year and due after one year. The loan was, and remains, fully repayable more than 12 months from the balance sheet date and has been reclassified accordingly. 2. A loan from a director was incorrectly included in 'Other creditors' rather than shown as part of the director’s loan account. This has also been corrected in the restated comparative figures. These errors affect the presentation only and do not impact profit or net assets.
Restatement of comparative figures
The figures for the year ended 31 July 2023 have been restated to reflect: • The fair value movement on investment property and associated deferred tax (Transition to FRS 102 Section 1A) • The reclassification of a long-term loan (Prior period errors) • The reclassification of a director loan (Prior period errors).
Presentation currency
The accounts are presented in £ sterling.
Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
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Maison Dover Properties Ltd Notes to the Accounts for the year ended 31 July 2024
Turnover
Turnover is recognised at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes, for goods and services provided in the normal course of business. The company recognises revenue when rent is received from a tenant.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% straight line
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 the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Maison Dover Properties Ltd Notes to the Accounts for the year ended 31 July 2024
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 August 2023
2,319 
At 31 July 2024
2,319 
Depreciation
At 1 August 2023
580 
Charge for the year
580 
At 31 July 2024
1,160 
Net book value
At 31 July 2024
1,159 
At 31 July 2023
1,739 
5
Investment property
2024 
£ 
Fair value at 1 August 2023
485,000 
Net gain from fair value adjustments
65,000 
At 31 July 2024
550,000 
Under FRS 105, the company accounted for investment property at cost. Prior to transition, the company revalued its investment property to fair value as at 31 July 2022. This revaluation was included in the financial statements for that year. Under FRS 102, investment properties must be carried at fair value with gains or losses recognised in profit or loss. The investment property was revalued internally at: £420,895 as at 31 July 2022 £485,000 as at 31 July 2023 £550,000 as at 31 July 2024 A gain of £64,105 arose in the year ended 31 July 2023 and has been recognised in the restated comparative profit and loss account. A deferred tax liability of £64,105 × 19% = £12,180 has also been recognised on this gain. A gain of £65,000 arose in the year ended 31 July 2024 and has been recognised in the profit and loss account. A deferred liability of £65,000 x 19% = £12,350 has also been recognised on this gain. Valuation was performed by the directors using market data and professional judgement.
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Other creditors
31,045 
31,011 
Loans from directors
89,015 
90,264 
Accruals
461 
358 
120,521 
121,633 
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Maison Dover Properties Ltd Notes to the Accounts for the year ended 31 July 2024
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
304,500 
304,500 
Aggregate of amounts that fall due for payment after five years
304,500 
304,500 
The bank loan is secured by way of fixed charge over the company’s investment property.
8
Deferred taxation
2024 
2023 
£ 
£ 
Revaluation of investment property
27,107 
14,757 
Tax losses carried forward
(4,722)
(4,333)
22,385 
10,424 
2024 
2023 
£ 
£ 
Provision at start of year
10,424 
(1,669)
Charged to the profit and loss account
11,961 
12,093 
Provision at end of year
22,385 
10,424 
9
Loans to directors
The director has loaned money to the company. At the balance sheet date, the amount owed to the director was £89,015 (2023 - £90,264). No interest has been charged and the loan is repayable on demand.
10
Transactions with related parties
During the period the company borrowed money from companies under common control. At the balance sheet date, the amount owed by Maison Dover Properties Ltd was £31,045 (2023 - £31,011).
11
Average number of employees
During the year the average number of employees was 1 (2023: 1).
12
Reconciliations on adoption of FRS 102
Reconciliation of equity
1 August 2022 
31 July 2023 
£ 
£ 
Capital and reserves (as previously stated)
1,768 
3,437 
Investment property
64,105 
Deferred tax
1,669 
(12,093)
Capital and reserves (as restated)
3,437 
55,449 
These adjustments are limited to reclassification and the deferred tax impact of revaluation. No changes have been made to retained earnings in respect of these reclassifications.
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