Registration number:
for the Period from 1 December 2023 to
Market Street Regen Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Market Street Regen Limited
Company Information
Directors |
Mr Mustaq Bhailok Mr Mehboob Bhailok |
Registered office |
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Market Street Regen Limited
(Registration number: 11402543)
Balance Sheet as at 31 December 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
4 |
4 |
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Retained earnings |
146,589 |
147,987 |
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Shareholders' funds |
146,593 |
147,991 |
For the financial period 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:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Market Street Regen Limited
Notes to the Unaudited Financial Statements for the Period from 1 December 2023 to 31 December 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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 the fair value of rental income received or receivable in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises deferred 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.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Market Street Regen Limited
Notes to the Unaudited Financial Statements for the Period from 1 December 2023 to 31 December 2024
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures and fittings |
12.5% on cost |
Office equipment |
33% on cost |
Investment property
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.
Market Street Regen Limited
Notes to the Unaudited Financial Statements for the Period from 1 December 2023 to 31 December 2024
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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.
Financial instruments
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Market Street Regen Limited
Notes to the Unaudited Financial Statements for the Period from 1 December 2023 to 31 December 2024
Tangible assets |
Fixtures and fittings |
Office equipment |
Total |
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Cost or valuation |
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At 1 December 2023 |
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Additions |
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At 31 December 2024 |
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Depreciation |
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At 1 December 2023 |
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Charge for the period |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 30 November 2023 |
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Investment properties |
2024 |
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At 1 December 2022 |
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At 31 December 2023 |
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Debtors |
Current |
2024 |
2023 |
Other debtors |
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Market Street Regen Limited
Notes to the Unaudited Financial Statements for the Period from 1 December 2023 to 31 December 2024
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Accruals and deferred income |
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Loans and borrowings |
2024 |
2023 |
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Current loans and borrowings |
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Directors' loan accounts |
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Amounts due to related undertakings |
3,069,331 |
3,114,261 |
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Directors' loan accounts and amounts due to related undertakings are non-interest bearing and have no formal repayment terms.