Midos Estates Ltd - Accounts to registrar (filleted) - small 18.2

Midos Estates Ltd - Accounts to registrar (filleted) - small 18.2

MIDOS ESTATES LTD - Company Information

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REGISTERED NUMBER: 03261596 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2019

FOR

MIDOS ESTATES LTD
MIDOS ESTATES LTD (REGISTERED NUMBER: 03261596)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MIDOS ESTATES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2019







DIRECTOR: J Schreiber





SECRETARY: Mrs. R Niederman





REGISTERED OFFICE: 147 Stamford Hill
London
N16 5LG





REGISTERED NUMBER: 03261596 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL
Page 1
MIDOS ESTATES LTD (REGISTERED NUMBER: 03261596)

BALANCE SHEET
30 JUNE 2019

30.6.19 30.6.18
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 885 885
Investment property 5 10,556,566 10,556,566
10,557,451 10,557,451

CURRENT ASSETS
Debtors 6 3,250,115 3,257,235
Cash at bank 56,780 6,813
3,306,895 3,264,048
CREDITORS
Amounts falling due within one year 7 710,271 609,809
NET CURRENT ASSETS 2,596,624 2,654,239
TOTAL ASSETS LESS CURRENT
LIABILITIES
13,154,075
13,211,690

CREDITORS
Amounts falling due after more than one
year
8
(4,418,872
)
(4,518,001
)

PROVISIONS FOR LIABILITIES (1,290,455 ) (1,290,455 )
NET ASSETS 7,444,748 7,403,234

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 7,444,747 7,403,233
7,444,748 7,403,234

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

Page 2 continued...
MIDOS ESTATES LTD (REGISTERED NUMBER: 03261596)

BALANCE SHEET - continued
30 JUNE 2019


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 31 March 2020 and were signed by:





J Schreiber - Director


The notes form part of these financial statements

Page 3
MIDOS ESTATES LTD (REGISTERED NUMBER: 03261596)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2019

1. STATUTORY INFORMATION

Midos Estates Ltd 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.

Turnover
Turnover represents rents receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and
Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or
directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

Page 4 continued...
MIDOS ESTATES LTD (REGISTERED NUMBER: 03261596)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2019

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 July 2018
and 30 June 2019 9,862
DEPRECIATION
At 1 July 2018
and 30 June 2019 8,977
NET BOOK VALUE
At 30 June 2019 885
At 30 June 2018 885

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2018
and 30 June 2019 10,556,566
NET BOOK VALUE
At 30 June 2019 10,556,566
At 30 June 2018 10,556,566

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.19 30.6.18
£    £   
Trade debtors 37,224 34,679
Amounts owed by group undertakings 3,196,877 3,206,142
Other debtors 16,014 16,414
3,250,115 3,257,235

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.19 30.6.18
£    £   
Trade creditors 61,600 38,425
Amounts owed to group undertakings 175,070 149,265
Taxation and social security 19,606 10,195
Other creditors 453,995 411,924
710,271 609,809

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.19 30.6.18
£    £   
Bank loans 4,418,872 4,518,001

Page 5 continued...
MIDOS ESTATES LTD (REGISTERED NUMBER: 03261596)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2019

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30.6.19 30.6.18
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans and overdrafts 4,418,872 4,518,001

9. RELATED PARTY DISCLOSURES

Donations of £45,804 (2018: £142,382) were made to The Schreib Trust, a charity registered in England and
Wales. The director of this company is also a trustee of the Schreib Trust.

Donations of £50,000 (2018: 0) were made to S F Foundations Ltd, a charitable company registered in England
and Wales. The director of this company is also a trustee of S F Foundation Ltd.

In addition the company paid rent of £25,000 (208: £25,000) to The Schreib Trust.

10. CONTROLLING PARTY

The company is a wholly owned subsidiary of Midos Properties Limited, a company incorporated in England
and Wales. There is no overall controlling party.

Page 6