Registered number
12238115
MAYFAIR ESTATE GROUP LTD
Unaudited Filleted Accounts
30 September 2024
TEMPLETONS (HOLDINGS) LIMITED
CHARTERED ACCOUNTANTS
309 HOE STREET
WALTHAMSTOW
LONDON E17 9BG
MAYFAIR ESTATE GROUP LTD
Registered number: 12238115
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 490,000 490,000
Current assets
Cash at bank and in hand 85,077 59,751
Creditors: amounts falling due within one year 4 (416,737) (409,395)
Net current liabilities (331,660) (349,644)
Total assets less current liabilities 158,340 140,356
Provisions for liabilities (28,836) (28,836)
Net assets 129,504 111,520
Capital and reserves
Called up share capital 22 22
Revaluation reserve 5 122,932 122,932
Profit and loss account 6,550 (11,434)
Shareholders' funds 129,504 111,520
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
S C Mohindra
Director
Approved by the board on 1 May 2025
MAYFAIR ESTATE GROUP LTD
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration receivable. Turnover includes rental income from Investment property.
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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost / Valuation
At 1 October 2023 490,000
At 30 September 2024 490,000
Depreciation
At 30 September 2024 -
Net book value
At 30 September 2024 490,000
At 30 September 2023 490,000
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 1,536 -
Other creditors 415,201 409,395
416,737 409,395
5 Revaluation reserve 2024 2023
£ £
At 1 October 2023 122,932 122,932
At 30 September 2024 122,932 122,932
This related to the gain arising on the revaluation of the company's investment properties as at
30 September 2023, based on a valuation conducted by the directors of the company based
on open market values. The directors are not aware of any material change in value since the
date of valuation.
6 Controlling party
The company was under the control of Mr Rajan Mohindra & Mr Rohin Mohindra as shareholders of the company throughout the year.
7 Other information
MAYFAIR ESTATE GROUP LTD is a private company limited by shares and incorporated in England. Its registered office is:
309 Hoe Street
Walthamstow
London
E17 9BG
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