Company Registration No. 11555806 (England and Wales)
MDES Property Solutions Ltd
Unaudited accounts
for the year ended 30 September 2024
MDES Property Solutions Ltd
Unaudited accounts
Contents
MDES Property Solutions Ltd
Company Information
for the year ended 30 September 2024
Company Number
11555806 (England and Wales)
Registered Office
White House Farm
Manor Lane, Broadholme
Lincoln
Lincolnshire
LN1 2NA
United Kingdom
Accountants
M D Darby FCPA, CPAA, FIAB, ACCA/Cert:IFR, IFRS, IPSAS, IA
Templar Accounting & Business Support
Services Limited (Incorp: Blake and Co )
112 - 113 High Street,
Lincoln, Lincolnshire
LN5 7PY
MDES Property Solutions Ltd
Statement of financial position
as at 30 September 2024
Investment property
223,584
-
Cash at bank and in hand
68,143
95,138
Creditors: amounts falling due within one year
(42,760)
(51,175)
Net current assets
25,383
43,963
Total assets less current liabilities
249,455
43,963
Creditors: amounts falling due after more than one year
(95,516)
-
Provisions for liabilities
Other provisions
(50,000)
-
Called up share capital
125
125
Capital contribution reserve
56,000
46,000
Profit and loss account
47,814
(2,162)
Shareholders' funds
103,939
43,963
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 June 2025 and were signed on its behalf by
Michael Sullivan
Director
Company Registration No. 11555806
MDES Property Solutions Ltd
Notes to the Accounts
for the year ended 30 September 2024
MDES Property Solutions Ltd is a private company, limited by shares, registered in England and Wales, registration number 11555806. The registered office is White House Farm, Manor Lane, Broadholme, Lincoln, Lincolnshire, LN1 2NA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% Reducing balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
MDES Property Solutions Ltd
Notes to the Accounts
for the year ended 30 September 2024
4
Tangible fixed assets
Computer equipment
At 30 September 2024
223,584
Land & Barns at:
White House Farm
Manor Lane
Broadholme
Lincoln
Ln12NA
The valuation of some £223,584 was carried out by NatWest PLC or a
third party on their behalf.
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
7,000
-
Taxes and social security
9,543
-
Loans from directors
2,512
875
A debenture is in place in favour of National Westminster Bank PLC
dated 20/10/2023
Charged as security:
White House Farm, Lincoln, LN12NA
Under land titles: LL138396 & LL155507
MDES Property Solutions Ltd
Notes to the Accounts
for the year ended 30 September 2024
7
Creditors: amounts falling due after more than one year
2024
2023
A debenture is in place in favour of National Westminster Bank PLC
dated 20/10/2023
Charged as security:
White House Farm, Lincoln, LN12NA
Under land titles: LL138396 & LL155507
8
Provisions for liabilities
£
Additional provisions made during the period
50,000
At 30 September 2024
50,000
To renovate land due to oil and fuel earth ingress
- removal of approximately 12 inches of top soil and replace with fresh material.
- Barns to be made structural sound and removal of asbestos where necessary.
Allotted, called up and fully paid:
100 Ordinary shares "A" Class of £1 each
100
100
25 Ordinary shares "B" Class of £1 each
25
25
10
Capital contribution reserve
A capital contribution reserve has been created by the director/shareholder to support the development of the business moving forward.
This reserve will remain in place until positive cashflow is achieved.
11
Average number of employees
During the year the average number of employees was 1 (2023: 1).