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REGISTERED NUMBER:
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ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST MARCH 2019 |
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FOR |
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M & D DEVELOPMENTS LIMITED |
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REGISTERED NUMBER:
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ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST MARCH 2019 |
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FOR |
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M & D DEVELOPMENTS LIMITED |
M & D DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01538311) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2019 |
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Page |
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Abridged Balance Sheet | 1 |
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Notes to the Financial Statements | 3 |
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M & D DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01538311) |
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ABRIDGED BALANCE SHEET |
31ST MARCH 2019 |
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31.3.19 | 31.3.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
6 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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M & D DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01538311) |
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ABRIDGED BALANCE SHEET - continued |
31ST MARCH 2019 |
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31.3.19 | 31.3.18 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
signed on its behalf by: |
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M & D DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01538311) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2019 |
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1. | STATUTORY INFORMATION |
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M & D Developments Limited is a
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Wales. The company's registered number and registered office address are as below: |
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Registered number: | 01538311 |
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Registered office: | Hengrave Hall |
Hengrave |
Bury St Edmunds |
Suffolk |
IP28 6LZ |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Preparation of consolidated financial statements |
The financial statements present information about the company as an individual undertaking. The |
company has not prepared group accounts as it is exempt from the requirement to do so by section |
402 of the Companies Act 2006 since it's only subsidiary is a dormant company and is immaterial to |
the results of this company. |
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Turnover |
Turnover includes the proceeds of the sale of land and property held for development, together |
with any management fees received. |
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Sales of properties are considered to have taken place where, by the end of the accounting period |
there is an agreement to purchase, and completion of the sale takes place within a reasonable |
period after the balance sheet date. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
M & D DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01538311) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Stocks |
Land and property held for and in the course of development is a trading asset and is included under |
current assets at the lower of cost and net realisable value. All interest is charged in the year as it |
arises. |
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Financial instruments |
The company only has financial assets and liabilities of a kind that qualify as basic financial |
instruments. Basic financial instruments are initially as transaction value and subsequently measured |
at their settlement value. The company has no bank loans or other more complex financial |
instruments that require measurement at amortised cost using the effective interest method. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income |
Statement, except to the extent that it relates to items recognised in other comprehensive income |
or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed |
at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
different from those in which they are recognised in financial statements. Deferred tax is measured |
using tax rates and laws that have been enacted or substantively enacted by the year end and that |
are expected to apply to the reversal of the timing difference. |
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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. |
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Long-term contracts |
Amounts recoverable on long term contracts, which are included in debtors, are stated at the net |
sales value of the work done after provision for contingencies and anticipated future losses on |
contracts, less amounts received as progress payments on account. Excess progress payments are |
included in creditors as payments on account. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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M & D DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01538311) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2019 |
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4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st April 2018 |
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Additions |
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At 31st March 2019 |
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DEPRECIATION |
At 1st April 2018 |
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Charge for year |
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At 31st March 2019 |
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NET BOOK VALUE |
At 31st March 2019 |
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At 31st March 2018 |
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5. | FIXED ASSET INVESTMENTS |
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Information on investments other than loans is as follows: |
Totals |
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COST |
At 1st April 2018 |
and 31st March 2019 | 100 |
NET BOOK VALUE |
At 31st March 2019 | 100 |
At 31st March 2018 | 100 |
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The subsidiary is a dormant company and has not been consolidated into the financial statements of |
this company because it is immaterial. |
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6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
31.3.19 | 31.3.18 |
£ | £ |
Repayable by instalments |
Bank loans more 5 yr by instal | 339,927 | 382,947 |
M & D DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01538311) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2019 |
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7. | LOANS |
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An analysis of the maturity of loans is given below: |
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31.3.19 | 31.3.18 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans - less than 1 yr |
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Other loans - less than 1 yr |
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Amounts falling due between one and two years: |
Bank loans - 1-2 years |
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Amounts falling due between two and five years: |
Bank loans - 2-5 years |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 339,927 | 382,947 |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.19 | 31.3.18 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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At the balance sheet date the company owed Mr D H Harris £1,113,311. |
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10. | ULTIMATE CONTROLLING PARTY |
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The company is under the immediate and ultimate control of D H Harris. |