Company Registration No. 12068882 (England and Wales)
Midlands Property Specialists Limited
Unaudited accounts
for the year ended 30 June 2023
Midlands Property Specialists Limited
Unaudited accounts
Contents
Midlands Property Specialists Limited
Company Information
for the year ended 30 June 2023
Directors
Mr P S Bindra
Mrs S K Bindra
Company Number
12068882 (England and Wales)
Registered Office
1 JUNO CLOSE
GLENFIELD
LEICESTER
LE3 8SX
UNITED KINGDOM
Midlands Property Specialists Limited
Statement of financial position
as at 30 June 2023
Tangible assets
1,359,759
330,816
Cash at bank and in hand
19,393
26,128
Creditors: amounts falling due within one year
(34,661)
(14,440)
Net current assets
72,636
11,688
Total assets less current liabilities
1,432,395
342,504
Creditors: amounts falling due after more than one year
(1,059,971)
(370,380)
Net assets/(liabilities)
372,424
(27,876)
Called up share capital
434,100
4
Profit and loss account
(61,676)
(27,880)
Shareholders' funds
372,424
(27,876)
For the year ending 30 June 2023 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 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 of Directors and authorised for issue on 25 October 2023 and were signed on its behalf by
Mr P S Bindra
Director
Company Registration No. 12068882
Midlands Property Specialists Limited
Notes to the Accounts
for the year ended 30 June 2023
Midlands Property Specialists Limited is a private company, limited by shares, registered in England and Wales, registration number 12068882. The registered office is 1 JUNO CLOSE, GLENFIELD, LEICESTER, LE3 8SX, 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:
Land & buildings
Not depreciated
4
Tangible fixed assets
Land & buildings
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 July 2022
330,816
-
330,816
Additions
1,020,542
29,330
1,049,872
At 30 June 2023
1,351,358
29,330
1,380,688
On disposals
20,929
-
20,929
At 30 June 2023
20,929
-
20,929
At 30 June 2023
1,330,429
29,330
1,359,759
At 30 June 2022
330,816
-
330,816
Amounts falling due within one year
Midlands Property Specialists Limited
Notes to the Accounts
for the year ended 30 June 2023
6
Creditors: amounts falling due within one year
2023
2022
Other creditors
34,161
14,440
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
332,605
272,919
Loans from directors
727,366
97,461
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).