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Unaudited Financial Statements for the Year Ended 31 August 2018 |
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MEA Property Limited |
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Previously known as |
Modus Estate Agents Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 August 2018 |
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for |
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MEA Property Limited |
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Previously known as |
Modus Estate Agents Limited |
MEA Property Limited (Registered number: 10328530) |
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Contents of the Financial Statements |
for the Year Ended 31 August 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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MEA Property Limited |
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Company Information |
for the Year Ended 31 August 2018 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Unit 1c |
Eagle Industrial Estate |
Church Green |
Witney |
Oxfordshire |
OX28 4YR |
MEA Property Limited (Registered number: 10328530) |
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Balance Sheet |
31 August 2018 |
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31.8.18 | 31.8.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges her 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. |
MEA Property Limited (Registered number: 10328530) |
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Balance Sheet - continued |
31 August 2018 |
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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 director on
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MEA Property Limited (Registered number: 10328530) |
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Notes to the Financial Statements |
for the Year Ended 31 August 2018 |
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1. | STATUTORY INFORMATION |
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MEA Property Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less |
any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Financial instruments |
The company has elected to apply provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other |
Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
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Financial instruments are recognised in the company's statement of financial position when the company becomes |
party to the contractual provisions of the instrument. |
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Basic financial instruments are recognised at amortised cost with changes recognised in the income statement. |
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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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MEA Property Limited (Registered number: 10328530) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2018 |
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2. | ACCOUNTING POLICIES - continued |
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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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 September 2017 |
and 31 August 2018 |
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AMORTISATION |
At 1 September 2017 |
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Charge for year |
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At 31 August 2018 |
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NET BOOK VALUE |
At 31 August 2018 |
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At 31 August 2017 |
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MEA Property Limited (Registered number: 10328530) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2018 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 September 2017 |
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Additions |
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Disposals | ( |
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At 31 August 2018 |
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DEPRECIATION |
At 1 September 2017 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 August 2018 |
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NET BOOK VALUE |
At 31 August 2018 |
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At 31 August 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.18 | 31.8.17 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.18 | 31.8.17 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.8.18 | 31.8.17 |
£ | £ |
Within one year |
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Between one and five years |
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MEA Property Limited (Registered number: 10328530) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2018 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.8.18 | 31.8.17 |
value: | £ | £ |
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Ordinary A | 1 | 2 | 1 |
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Ordinary B | 1 | 4 | 4 |
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Ordinary C | 1 | 6 | - |
12 | 5 |
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The following shares were allotted and fully paid for cash at par during the year: |
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10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the year ended 31 August 2018 and the period |
ended 31 August 2017: |
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31.8.18 | 31.8.17 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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11. | CLIENT MONIES |
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Included in the creditors is an amount of £12,731 representing client monies held. This amount is kept in a separate, |
designated bank account included within the cash at bank figure of £21,564. |