Registered number
08676058
Merton Road Development Limited
Filleted Accounts
30 September 2024
Merton Road Development Limited
Registered number: 08676058
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,011,437 -
Current assets
Debtors 4 96,000 -
Cash at bank and in hand 117,443 68,869
213,443 68,869
Creditors: amounts falling due within one year 5 (3,085,504) (841)
Net current (liabilities)/assets (2,872,061) 68,028
Net assets 139,376 68,028
Capital and reserves
Called up share capital 100 100
Profit and loss account 139,276 67,928
Shareholders' funds 139,376 68,028
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.
R P Gordon
Director
Approved by the board on 9 June 2025
Merton Road Development Limited
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 represents rent receivable. Rent incentives granted, including rent free periods, are recognised against income over the lease term.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on 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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Freehold Land and buildings
£
Cost
Additions 3,011,437
At 30 September 2024 3,011,437
Depreciation
At 30 September 2024 -
Net book value
At 30 September 2024 3,011,437
4 Debtors 2024 2023
£ £
Other debtors 96,000 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 18,542 -
Other creditors 3,066,962 841
3,085,504 841
6 Related party transactions
R P Gordon and N M Gordon advanced a joint loan to the company during the year at an interest rate of 5% per annum. They have waived their right to receive interest for the year ended 30 September 2024. The amount outstanding at 30 September 2024 was £2,753,050. (2023: £nil)
7 Controlling party
The controlling parties are jointly R P Gordon and N M Gordon.
8 Other information
Merton Road Development Limited is a private company limited by shares and incorporated in England. Its registered office is:
7 Theobald Court
Theobald Street
Borehamwood
Herts.
WD6 4RN
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