Registration number:
MF Property Holdings Ltd
Information for Filing with The Registrar
30 April 2022
MF Property Holdings Ltd
(Registration number: 00432765)
Balance Sheet
30 April 2022
Note |
2022 |
2021 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Investment property |
|
|
|
|
|
||
Current assets |
|||
Cash at bank and in hand |
|
|
|
Creditors: Amounts falling due within one year |
( |
( |
|
Net current (liabilities)/assets |
( |
|
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
- |
( |
|
Provisions for liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Revaluation reserve |
|
|
|
Retained earnings |
|
|
|
Shareholders' funds |
|
|
For the financial year ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
M. Flint
Director
MF Property Holdings Ltd
Notes to the Accounts
Year Ended 30 April 2022
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the rent of properties in the ordinary course of the company’s activities. Turnover is shown net of value added tax.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises corporation and deferred tax.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation.
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
MF Property Holdings Ltd
Notes to the Accounts
Year Ended 30 April 2022
Asset class |
Depreciation method and rate |
Fixtures and fittings |
10 years straight line basis |
Motor vehicles |
4 years straight line basis |
Investment property
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Staff numbers |
The average number of persons employed by the company during the year, was
Tangible assets |
Fixtures and fittings |
Motor |
Total |
|
Cost or valuation |
|||
At 1 May 2021 |
|
|
|
At 30 April 2022 |
|
|
|
Depreciation |
|||
At 1 May 2021 |
|
|
|
Charge for the year |
|
- |
|
At 30 April 2022 |
|
|
|
Carrying amount |
|||
At 30 April 2022 |
|
- |
|
At 30 April 2021 |
|
- |
|
MF Property Holdings Ltd
Notes to the Accounts
Year Ended 30 April 2022
Investment properties |
2022 |
|
At 1 May 2021 |
|
Additions |
|
Fair value adjustments |
( |
At 30 April 2022 |
|
Investment properties are included at fair value. Gains are recognised in the income statement. Deferred tax is provided on these gains at the rate expected to apply when the properties are sold.
There has been no valuation of investment property by an independent valuer.
Creditors |
Note |
2022 |
2021 |
|
Due within one year |
|||
Amounts due to related parties |
|
|
|
Corporation tax |
|
|
|
Other taxes and social security |
|
|
|
Other creditors |
|
|
|
|
|
Note |
2022 |
2021 |
|
Due after one year |
|||
Loans and borrowings |
- |
|
MF Property Holdings Ltd
Notes to the Accounts
Year Ended 30 April 2022
Share capital |
Allotted, called up and fully paid shares
2022 |
2021 |
|||
No. |
£ |
No. |
£ |
|
|
|
1,500 |
|
1,500 |
Revaluation Reserve |
The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:
Revaluation reserve |
Total |
|
Deficit on property revaluation |
( |
( |
|
Loans and borrowings |
2022 |
2021 |
|
Non-current loans and borrowings |
||
Bank borrowings |
- |
|