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Registered number: 12964786
Mostdudno Properties Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2024
WAC (Whale & Company) Limited
Chartered Accountants & Business Advisors
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 12964786
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 210,000 210,000
210,000 210,000
CURRENT ASSETS
Debtors 5 - 4,972
Cash at bank and in hand 10,682 10,955
10,682 15,927
Creditors: Amounts Falling Due Within One Year 6 (101,693 ) (132,278 )
NET CURRENT ASSETS (LIABILITIES) (91,011 ) (116,351 )
TOTAL ASSETS LESS CURRENT LIABILITIES 118,989 93,649
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (3,725 ) (3,725 )
NET ASSETS 115,264 89,924
CAPITAL AND RESERVES
Called up share capital 8 100 100
Fair value reserve 9 15,924 15,924
Profit and Loss Account 99,240 73,900
SHAREHOLDERS' FUNDS 115,264 89,924
Page 1
Page 2
For the year ending 31 October 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr C R Clark
Director
9th June 2025
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Fair value reserve Profit and Loss Account Total
£ £ £ £
As at 1 November 2022 100 15,924 50,214 66,238
Profit for the year and total comprehensive income - - 23,686 23,686
As at 31 October 2023 and 1 November 2023 100 15,924 73,900 89,924
Profit for the year and total comprehensive income - - 25,340 25,340
As at 31 October 2024 100 15,924 99,240 115,264
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Mostdudno Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12964786 . The registered office is Ryknild House, Burnett Road, Streetly, Sutton Coldfield, B74 3EL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.  The financial statements are presented in pounds sterling, rounded to the nearest pound.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover comprises the fair value of the consideration received or receivable from rental income and ancilliary services in the ordinary course of the company's activities.  Turnover is shown net of value added tax.  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.
2.4. Investment Properties
All investment properties are carried at fair value derived from the current market prices for comparable real estate as determined annually by the directors. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Financial Instruments
Classification
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilties such as trade and other debtors and creditors and loans from banks.
Recognition and measurement
With the exception of investment property financial assets and liabilities are initially measured at transaction price and subsequently measured at amortised cost. Investment property is initially measured at transaction price and subsequently at fair value.
Impairment
Financial assets that are measured at 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 the Profit and Loss Account. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.
2.6. Taxation
The tax expense for the period comprises current 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. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date. The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
2.7. 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.
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Page 5
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Investment Property
2024
£
Fair Value
As at 1 November 2023 and 31 October 2024 210,000
The properties have been valued, by the directors, from the current market prices for comparable real estate, having due regard to the tenancies in place at the balance sheet date.  There has not been any valuation by an independent valuer.
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 190,351 190,351
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 4,920
Other debtors - 52
- 4,972
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,372 -
Other loans 83,999 115,399
Corporation tax 6,600 5,825
VAT 1,276 2,263
Other creditors 3,300 3,300
Accruals and deferred income 5,146 5,491
101,693 132,278
Other Loans
This represents a loan from a director with a carrying amount of £83,999 (2023 - £115,399), which  is denominated in GBP with a nominal interest rate of 0%.  There is no repayment date set at this time.
7. Deferred Taxation
Deferred taxation has been provided on the fair value gains and losses at the tax rate ruling at the date of the financial statements.
2024 2023
£ £
Other timing differences 3,725 3,725
Page 5
Page 6
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Reserves
Fair Value Reserve
£
As at 1 November 2023 15,924
As at 31 October 2024 15,924
Page 6