Registered number
07851018
M.A.Property (Norfolk) Limited
Filleted Accounts
30 September 2024
M.A.Property (Norfolk) Limited
Registered number: 07851018
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Current assets
Stocks 1,255,631 1,255,211
Debtors 3 1,909,695 1,909,845
Cash at bank and in hand 899,562 884,896
4,064,888 4,049,952
Creditors: amounts falling due within one year 4 (654,045) (652,341)
Net current assets 3,410,843 3,397,611
Net assets 3,410,843 3,397,611
Capital and reserves
Called up share capital 2 2
Profit and loss account 3,410,841 3,397,609
Shareholders' funds 3,410,843 3,397,611
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.
Mrs.L.M. Jones
Director
A.Jones
Director
Approved by the board on 16 June 2025
M.A.Property (Norfolk) 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).
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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 2 2
3 Debtors 2024 2023
£ £
Other debtors 1,909,695 1,909,845
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 3,495 1,791
Other creditors 650,550 650,550
654,045 652,341
5 Related party transactions
Within debtors are the following amounts due from companies of which A and Mrs L Jones are directors
2024 2023
£ £
Vello Limited 894,663 894,663
East Anglian Property Limited 1,014,587 1,014,587
6 Controlling party
In the opinion of the directors there is no ultimate controlling party.
7 Other information
M.A.Property (Norfolk) Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Lodge
9 Laurel Drive
Brundall
Norwich
NR13 5RE
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