3 false false false false false false false false false true false false false false false false No description of principal activity 2021-01-01 Sage Accounts Production Advanced 2020 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 03883580 2021-01-01 2021-12-31 03883580 2021-12-31 03883580 2020-12-31 03883580 2020-01-01 2020-12-31 03883580 2020-12-31 03883580 2019-12-31 03883580 core:PlantMachinery 2021-01-01 2021-12-31 03883580 core:FurnitureFittings 2021-01-01 2021-12-31 03883580 bus:RegisteredOffice 2021-01-01 2021-12-31 03883580 bus:LeadAgentIfApplicable 2021-01-01 2021-12-31 03883580 bus:Director1 2021-01-01 2021-12-31 03883580 bus:Director2 2021-01-01 2021-12-31 03883580 bus:Director3 2021-01-01 2021-12-31 03883580 bus:Director4 2021-01-01 2021-12-31 03883580 bus:CompanySecretary1 2021-01-01 2021-12-31 03883580 core:LandBuildings 2020-12-31 03883580 core:PlantMachinery 2020-12-31 03883580 core:FurnitureFittings 2020-12-31 03883580 core:LandBuildings 2021-12-31 03883580 core:PlantMachinery 2021-12-31 03883580 core:FurnitureFittings 2021-12-31 03883580 core:WithinOneYear 2021-12-31 03883580 core:WithinOneYear 2020-12-31 03883580 core:LandBuildings core:OwnedOrFreeholdAssets 2021-12-31 03883580 core:LandBuildings core:OwnedOrFreeholdAssets 2020-12-31 03883580 core:RetainedEarningsAccumulatedLosses 2020-01-01 2020-12-31 03883580 core:RevaluationReserve 2021-01-01 2021-12-31 03883580 core:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 03883580 core:AfterOneYear 2021-12-31 03883580 core:AfterOneYear 2020-12-31 03883580 core:ShareCapital 2021-12-31 03883580 core:ShareCapital 2020-12-31 03883580 core:RevaluationReserve 2021-12-31 03883580 core:RevaluationReserve 2020-12-31 03883580 core:RetainedEarningsAccumulatedLosses 2021-12-31 03883580 core:RetainedEarningsAccumulatedLosses 2020-12-31 03883580 core:ShareCapital 2019-12-31 03883580 core:RevaluationReserve 2019-12-31 03883580 core:RetainedEarningsAccumulatedLosses 2019-12-31 03883580 core:RestatedAmount 2019-12-31 03883580 core:RestatedAmount 2020-12-31 03883580 core:LandBuildings 2021-01-01 2021-12-31 03883580 core:RevaluationPropertyPlantEquipmentDeferredTax 2021-12-31 03883580 core:RevaluationPropertyPlantEquipmentDeferredTax 2020-12-31 03883580 core:LandBuildings 2020-12-31 03883580 core:PlantMachinery 2020-12-31 03883580 core:FurnitureFittings 2020-12-31 03883580 bus:Director1 2020-12-31 03883580 bus:Director1 2021-12-31 03883580 bus:Director2 2020-12-31 03883580 bus:Director2 2021-12-31 03883580 bus:Director3 2020-12-31 03883580 bus:Director3 2021-12-31 03883580 bus:Director4 2020-12-31 03883580 bus:Director4 2021-12-31 03883580 bus:Director1 2019-12-31 03883580 bus:Director1 2020-12-31 03883580 bus:Director2 2019-12-31 03883580 bus:Director2 2020-12-31 03883580 bus:Director3 2019-12-31 03883580 bus:Director3 2020-12-31 03883580 bus:Director4 2019-12-31 03883580 bus:Director4 2020-12-31 03883580 bus:Director1 2020-01-01 2020-12-31 03883580 bus:Director2 2020-01-01 2020-12-31 03883580 bus:Director4 2020-01-01 2020-12-31 03883580 bus:SmallEntities 2021-01-01 2021-12-31 03883580 bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 03883580 bus:FullAccounts 2021-01-01 2021-12-31 03883580 bus:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 03883580 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31
COMPANY REGISTRATION NUMBER: 03883580
MINIVIEW PROPERTIES LIMITED
Unaudited Financial Statements
31 December 2021
MINIVIEW PROPERTIES LIMITED
Financial Statements
Year ended 31 December 2021
Contents
Page
Officers and professional advisers
1
Directors' report
2
Statement of comprehensive income
4
Statement of financial position
5
Statement of changes in equity
7
Notes to the financial statements
8
The following pages do not form part of the financial statements
Accountants report to the board of directors on the preparation of the unaudited statutory financial statements
14
MINIVIEW PROPERTIES LIMITED
Officers and Professional Advisers
The board of directors
Mr P. A Amin
Mrs Shital Amin
Dr Nishal Amin
Mrs Nita Amin
Company secretary
Dr Nishal Amin
Registered office
781-783 Harrow Road
Sudbury Town
Wembley
Middlesex
HAO 2LP
Accountants
AMCO Consultancy Limited
Accountants
781-783 Harrow Road
Sudbury Town
Wembley
Middlesex
HA0 2LP
MINIVIEW PROPERTIES LIMITED
Directors' Report
Year ended 31 December 2021
The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2021 .
Directors
The directors who served the company during the year were as follows:
Mr P. A Amin
Mrs Shital Amin
Dr Nishal Amin
Mrs Nita Amin
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 31 March 2022 and signed on behalf of the board by:
Mr P. A Amin
Dr Nishal Amin
Director
Company Secretary
Registered office:
781-783 Harrow Road
Sudbury Town
Wembley
Middlesex
HAO 2LP
MINIVIEW PROPERTIES LIMITED
Statement of Comprehensive Income
Year ended 31 December 2021
2021
2020
Note
£
£
Turnover
85,950
88,858
---------
---------
Gross profit
85,950
88,858
Administrative expenses
41,222
47,425
---------
---------
Operating profit
44,728
41,433
Other interest receivable and similar income
8
Interest payable and similar expenses
152
777
---------
---------
Profit before taxation
6
44,576
40,664
Tax on profit from ordinary activities
8,429
7,703
---------
---------
Profit for the financial year
36,147
32,961
---------
---------
Revaluation of tangible assets
260,501
Reclassification from revaluation reserve to profit and loss account
151,496
----------
----
Other comprehensive income for the year
411,997
----------
---------
Total comprehensive income for the year
448,144
32,961
----------
---------
All the activities of the company are from continuing operations.
MINIVIEW PROPERTIES LIMITED
Statement of Financial Position
31 December 2021
2021
2020
Note
£
£
£
Fixed assets
Tangible assets
7
1,486,471
990,722
Current assets
Debtors
8
510
5,049
Cash at bank and in hand
11,072
21,782
---------
---------
11,582
26,831
Creditors: amounts falling due within one year
9
17,599
55,066
---------
---------
Net current liabilities
6,017
28,235
-------------
----------
Total assets less current liabilities
1,480,454
962,487
Creditors: amounts falling due after more than one year
10
142,689
148,989
Provisions
Deferred taxation on revaluation
90,123
6,220
Accruals and deferred income
3,420
3,200
-------------
----------
Net assets
1,244,222
804,078
-------------
----------
Capital and reserves
Called up share capital
100
100
Revaluation reserve
768,227
507,726
Profit and loss account
475,895
296,252
-------------
----------
Shareholders funds
1,244,222
804,078
-------------
----------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MINIVIEW PROPERTIES LIMITED
Statement of Financial Position (continued)
31 December 2021
These financial statements were approved by the board of directors and authorised for issue on 30 March 2022 , and are signed on behalf of the board by:
Mr P. A Amin
Mrs Shital Amin
Director
Director
Dr Nishal Amin
Mrs Nita Amin
Director
Director
Company registration number: 03883580
MINIVIEW PROPERTIES LIMITED
Statement of Changes in Equity
Year ended 31 December 2021
Called up share capital
Revaluation reserve
Profit and loss account
Total
Note
£
£
£
£
At 1 January 2020
100
507,726
270,791
778,617
Profit for the year
32,961
32,961
----
----------
----------
----------
Total comprehensive income for the year
32,961
32,961
Dividends paid and payable
( 7,500)
( 7,500)
----
----------
----------
----------
Total investments by and distributions to owners
( 7,500)
( 7,500)
At 31 December 2020
100
507,726
296,252
804,078
Profit for the year
36,147
36,147
Other comprehensive income for the year
13
260,501
151,496
411,997
----
----------
----------
----------
Total comprehensive income for the year
260,501
187,643
448,144
Dividends paid and payable
( 8,000)
( 8,000)
----
----
-------
-------
Total investments by and distributions to owners
( 8,000)
( 8,000)
----
----------
----------
-------------
At 31 December 2021
100
768,227
475,895
1,244,222
----
----------
----------
-------------
MINIVIEW PROPERTIES LIMITED
Notes to the Financial Statements
Year ended 31 December 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 781-783 Harrow Road, Sudbury Town, Wembley, HAO 2LP, Middlesex.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Income tax
Current corporation tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured using the current tax rates and laws that have been enacted
MINIVIEW PROPERTIES LIMITED
Notes to the Financial Statements (continued)
Year ended 31 December 2021
3. Accounting policies (continued)
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
18% reducing balance
Fixtures and Fittings
-
18% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2020: 3 ).
5. Director's fees: Voted
The directors' aggregate remuneration in respect of qualifying services was:
2021
2020
£
£
Remuneration
30,000
26,000
---------
---------
The directors remuneration stated above represents directors fees voted on 20th December 2021 (2020: 23rd December 2020) on which PAYE have been paid.
6. Profit before taxation
Profit before taxation is stated after charging:
2021
2020
£
£
Depreciation of tangible assets
151
182
----
----
7. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Total
£
£
£
£
At Valuation
At 1 January 2021
989,100
2,396
3,922
995,418
Revaluations
495,900
495,900
-------------
-------
-------
-------------
At 31 December 2021
1,485,000
2,396
3,922
1,491,318
-------------
-------
-------
-------------
Depreciation
At 1 January 2021
1,643
3,053
4,696
Charge for the year
136
15
151
-------------
-------
-------
-------------
At 31 December 2021
1,779
3,068
4,847
-------------
-------
-------
-------------
Carrying amount
At 31 December 2021
1,485,000
617
854
1,486,471
-------------
-------
-------
-------------
At 31 December 2020
989,100
753
869
990,722
-------------
-------
-------
-------------
Tangible assets held at valuation
Land and building appearing in note 7 is held as an investment property and was revalued by the Ringley Surveys Limited (Member of Royal Institute Of Chartered Surveyors)on the 6th January 2022 at fair market value. The bank loan shown in note 10 is secured by way of first legal registered charge over the said Land and building.
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Freehold property
£
At 31 December 2021
Aggregate cost
626,650
Aggregate depreciation
----------
Carrying value
626,650
----------
At 31 December 2020
Aggregate cost
626,650
Aggregate depreciation
----------
Carrying value
626,650
----------
8. Debtors
2021
2020
£
£
Trade debtors
510
5,049
----
-------
9. Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans(Secured)
26,820
Trade creditors
9,166
13,062
Corporation tax
8,433
7,684
Other creditors
7,500
---------
---------
17,599
55,066
---------
---------
10. Creditors: amounts falling due after more than one year
2021
2020
£
£
Other creditors
142,689
148,989
----------
----------
Creditors amounts falling due after more than one year represents the Directors'loan accounts £142,689 (2020 £148,989) as stated in note 13 below.
11. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2021
2020
£
£
Included in provisions
90,123
6,220
---------
-------
The deferred tax account consists of the tax effect of timing differences in respect of:
2021
2020
£
£
Revaluation of tangible assets
90,123
6,220
---------
-------
12. Financial instruments
Financial instruments comprising bank loan liability and creditors are measured at fair value taking into account timing and certainty of future cash flow and also the amount of any impairment loss for each class of financial assets.
13. Analysis of other comprehensive income
Revaluation reserve
Profit and loss account
Total
£
£
£
Year ended 31 December 2021
Revaluation of tangible assets
260,501
260,501
Reclassification from revaluation reserve to profit and loss account
151,496
151,496
----------
----------
----------
260,501
151,496
411,997
----------
----------
----------
14. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2021
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr P. A Amin
( 51,663)
30,000
6,300
( 15,363)
Mrs Shital Amin
( 27,472)
( 10,000)
( 37,472)
Dr Nishal Amin
( 28,096)
( 10,000)
( 38,096)
Mrs Nita Amin
( 41,758)
( 10,000)
( 51,758)
----------
---------
-------
----------
( 148,989)
6,300
( 142,689)
----------
---------
-------
----------
2020
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr P. A Amin
( 49,963)
( 1,700)
( 51,663)
Mrs Shital Amin
( 21,072)
( 6,400)
( 27,472)
Dr Nishal Amin
( 28,096)
( 28,096)
Mrs Nita Amin
( 35,358)
( 6,400)
( 41,758)
----------
---------
----
----------
( 134,489)
( 14,500)
( 148,989)
----------
---------
----
----------
MINIVIEW PROPERTIES LIMITED
Management Information
Year ended 31 December 2021
The following pages do not form part of the financial statements.
MINIVIEW PROPERTIES LIMITED
Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of MINIVIEW PROPERTIES LIMITED
Year ended 31 December 2021
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 December 2021, which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
AMCO CONSULTANCYLIMITED Accountants
781-783 Harrow Road Sudbury Town Wembley Middlesex HA0 2LP
31 March 2022