Metropolitan & District Securities Limit - Accounts to registrar (filleted)

REGISTERED NUMBER: 02719089 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

METROPOLITAN & DISTRICT SECURITIES

LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

R G Sachdev

D A Osborne

Mrs J Baskaran

REGISTERED OFFICE:

Regent House

Theobald Street

Borehamwood

WD6 4RS

REGISTERED NUMBER:

02719089 (England and Wales)

ACCOUNTANTS:

STGCA LLP t/a Sterling

Chartered Accountants

505 Pinner Road

Harrow

Middlesex

HA2 6EH

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Metropolitan & District Securities Limited for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Metropolitan & District Securities Limited, as a body, in accordance with the terms of our engagement letter dated 17 January 2014. Our work has been undertaken solely to prepare for your approval the financial statements of Metropolitan & District Securities Limited and state those matters that we have agreed to state to the Board of Directors of Metropolitan & District Securities Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Metropolitan & District Securities Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Metropolitan & District Securities Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Metropolitan & District Securities Limited. You consider that Metropolitan & District Securities Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Metropolitan & District Securities Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

STGCA LLP t/a Sterling

Chartered Accountants

505 Pinner Road

Harrow

Middlesex

HA2 6EH

30 December 2025

FIXED ASSETS

Tangible assets

4

404

594

Investments

5

2,805

3,209

3,399

CURRENT ASSETS

Stocks

6

3,568,412

43,266,091

Other debtors

7

4,200,199

6,333,641

Cash at bank

132,461

182,824

7,901,072

49,782,556

CREDITORS

Amounts falling due within one year

8

(565,635

)

(42,303,792

)

NET CURRENT ASSETS

7,335,437

7,478,764

TOTAL ASSETS LESS CURRENT
LIABILITIES

7,338,646

7,482,163

CAPITAL AND RESERVES

Called up share capital

9

5,500,003

Retained earnings

1,838,643

1,982,160

SHAREHOLDERS' FUNDS

7,338,646

7,482,163

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 December 2025 and were signed on its behalf by:

R G Sachdev - Director

1.	STATUTORY INFORMATION

Metropolitan & District Securities Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Metropolitan & District Securities Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks and work in progress

Long term work in progress represent direct costs incurred on the contracts. Provision is made for the full amount of foreseeable losses on contract. Profit is recognised on long term contracts if the final outcome can be assessed with reasonable certainty. No profit has been recognised to date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

760

DEPRECIATION

At 1 April 2024

166

Charge for year

190

At 31 March 2025

356

NET BOOK VALUE

At 31 March 2025

404

At 31 March 2024

594

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

2,805

NET BOOK VALUE

At 31 March 2025

2,805

At 31 March 2024

2,805

The company's investments at the Balance Sheet date in the share capital of companies include the following:

MDS (Nottingham) Ltd

Registered office: Regent House, Theobald Street, Elstree, Borehamwood, Hertfordshire WD6 4RS

Nature of business: Property development

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

Aggregate capital and reserves

(2,260

)

(2,226

)

(Loss)/profit for the year

(34

)

512

MDS(Leeds) Ltd

Registered office: Regent House, Theobald Street, Elstree, Borehamwood, Hertfordshire WD6 4RS

Nature of business: Property development

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

Aggregate capital and reserves

(144

)

(32

)

Loss for the year

(112

)

(109

)

MDS (Exeter) Ltd

Registered office: Regent House, Theobald Street, Elstree, Borehamwood, Hertfordshire WD6 4RS

Nature of business: Property development

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

Aggregate capital and reserves

(3,902

)

(1,828

)

Loss for the year

(2,074

)

(1,251

)

MDS (Nottingham 2022) Ltd

Registered office: Regent House, Theobald Street, Elstree, Borehamwood, Hertfordshire WD6 4RS

Nature of business: Property development

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

Aggregate capital and reserves

1,523,610

114,627

Profit/(loss) for the year

1,408,983

(3,513

)

6.

STOCKS

2025

2024

£

Long term work-in-progress

3,568,412

43,266,091

Long term work in progress represents all direct costs incurred to date in order to bring the site to a position where the council planning consent has been met.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

17,038

3,041,711

Amounts owed by group undertakings

1,828,891

1,314,045

Amounts owed by associates

442,334

440,000

Other debtors

442,319

89,605

Directors' current accounts

1,466,955

1,448,280

VAT

2,662

-

4,200,199

6,333,641

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

525,457

3,019,479

VAT

-

14,164

Other creditors

33,578

22,995

Advance payments

-

39,240,554

Accrued expenses

6,600

565,635

42,303,792

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

3

Ordinary

1

3

5,500,000

Preference shares

1

5,500,000

5,500,003

10.	RELATED PARTY DISCLOSURES

As at 31 March 2025, following balances were receivable/(payable) from companies in which R G Sachdev, D A Osborne and J Baskaran are also directors.

2025

2024

MDS (Exeter) Limited

1,825,480

1,045,949

MDS (Nottingham) Limited

3,172

3,138

MDS (Leeds) Ltd

239

126

MDS (Nottingham 2022) Ltd

0

264,832

Kailash Estates Limited

442,334

440,000

The loans are interest free and repayable on demand.

11.	ULTIMATE CONTROLLING PARTY

As at the year end, Mrs P R Sachdev is the ultimate controlling party, as she holds all the issued share capital