Masada Developments Limited - Accounts to registrar (filleted) - small 18.2
Masada Developments Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2020 |
for |
Masada Developments Limited |
Masada Developments Limited (Registered number: 03923842) |
Contents of the Financial Statements |
for the Year Ended 31 March 2020 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Masada Developments Limited |
Company Information |
for the Year Ended 31 March 2020 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Queens Court Business Centre |
Newport Road |
Middlesbrough |
TS1 5EH |
Masada Developments Limited (Registered number: 03923842) |
Balance Sheet |
31 March 2020 |
31.3.20 | 31.3.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Share premium |
Revaluation reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Masada Developments Limited (Registered number: 03923842) |
Balance Sheet - continued |
31 March 2020 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Masada Developments Limited (Registered number: 03923842) |
Notes to the Financial Statements |
for the Year Ended 31 March 2020 |
1. | STATUTORY INFORMATION |
Masada Developments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net income from rental property, excluding value added tax. |
Tangible fixed assets |
Plant and machinery etc | - |
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. |
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. |
Investment property |
Investment properties are included on an open market basis on 31st March 2019 by the director. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Masada Developments Limited (Registered number: 03923842) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 April 2019 |
and 31 March 2020 |
DEPRECIATION |
At 1 April 2019 |
Charge for year |
At 31 March 2020 |
NET BOOK VALUE |
At 31 March 2020 |
At 31 March 2019 |
Land and buildings are stated at their market value per an independent valuation undertaken in August 2015 by Lambert Smith Hampton, Commercial Property Consultants. The director considers this to be a fair value as at 31 March 2020. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.20 | 31.3.19 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.20 | 31.3.19 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.20 | 31.3.19 |
£ | £ |
Other creditors |
Masada Developments Limited (Registered number: 03923842) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.20 | 31.3.19 |
£ | £ |
Other loans | 198,362 | 301,600 |
Marcusan LLP owned by Marcus and Ann Dicken, have provided third party security on £5,799 of the above balance to the Dicken Executive Pension Scheme by way of legal charge over the property at 3 Portrack Grange Road, Stockton-on-Tees held by Marcusan LLP. The charge is dated 14 May 2015. |
Masada Developments Limited have provided security on £192,563 of the above balance by way of a legal charge over the property at 2A Malleable Way, Portrack Lane, Stockton-on-Tees. The charge is dated 13 December 2017. |
9. | PROVISIONS FOR LIABILITIES |
31.3.20 | 31.3.19 |
£ | £ |
Deferred tax | 94,003 | 105,827 |
Deferred |
tax |
£ |
Balance at 1 April 2019 |
Timing differences | (11,824 | ) |
Balance at 31 March 2020 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.20 | 31.3.19 |
value: | £ | £ |
Ordinary | £1 | 450 | 450 |
11. | RELATED PARTY DISCLOSURES |
Mr A M Dicken is also the director of At Home Furnishings Outlet Limited and Kuyt Limited. |
During the reporting period the company invoiced At Home Furnishings Outlet Limited £74,940 (2019: £77,213). |
As at 31 March 2020 At Home Furnishings Outlet Limited owed the company £7,494 (2019: £Nil). |
As at 31 March 2020 Kuyt Limited owed the company £734,365 (2019: £734,365). |
Mr A M Dicken is a trustee of the Dicken Executive Pension Scheme. As at 31 March 2020 the company owed the Dicken Executive Pension Scheme £198,362 (2019: £301,600). |
As at 31 March 2020 the company owed Mr A M Dicken £1,519,299 (2019: £1,489,347). |
Masada Developments Limited (Registered number: 03923842) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
12. | ULTIMATE CONTROLLING PARTY |
The controlling party is A M Dicken. |