MF Property Holdings Ltd 00432765 false 2021-05-01 2022-04-30 2022-04-30 The principal activity of the company is managing commercial property Digita Accounts Production Advanced 6.30.9574.0 true 00432765 2021-05-01 2022-04-30 00432765 2022-04-30 00432765 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-04-30 00432765 core:RetainedEarningsAccumulatedLosses 2022-04-30 00432765 core:RevaluationReserve 2022-04-30 00432765 core:ShareCapital 2022-04-30 00432765 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-30 00432765 core:Non-currentFinancialInstruments 2022-04-30 00432765 core:Non-currentFinancialInstruments core:AfterOneYear 2022-04-30 00432765 core:FurnitureFittings 2022-04-30 00432765 core:MotorVehicles 2022-04-30 00432765 bus:SmallEntities 2021-05-01 2022-04-30 00432765 bus:AuditExemptWithAccountantsReport 2021-05-01 2022-04-30 00432765 bus:FullAccounts 2021-05-01 2022-04-30 00432765 bus:SmallCompaniesRegimeForAccounts 2021-05-01 2022-04-30 00432765 bus:RegisteredOffice 2021-05-01 2022-04-30 00432765 bus:Director1 2021-05-01 2022-04-30 00432765 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2021-05-01 2022-04-30 00432765 bus:PrivateLimitedCompanyLtd 2021-05-01 2022-04-30 00432765 core:RevaluationReserve core:LandBuildings 2021-05-01 2022-04-30 00432765 core:FurnitureFittings 2021-05-01 2022-04-30 00432765 core:LandBuildings 2021-05-01 2022-04-30 00432765 core:MotorVehicles 2021-05-01 2022-04-30 00432765 countries:England 2021-05-01 2022-04-30 00432765 2021-04-30 00432765 core:FurnitureFittings 2021-04-30 00432765 core:MotorVehicles 2021-04-30 00432765 2020-05-01 2021-04-30 00432765 2021-04-30 00432765 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2021-04-30 00432765 core:RetainedEarningsAccumulatedLosses 2021-04-30 00432765 core:RevaluationReserve 2021-04-30 00432765 core:ShareCapital 2021-04-30 00432765 core:CurrentFinancialInstruments core:WithinOneYear 2021-04-30 00432765 core:Non-currentFinancialInstruments 2021-04-30 00432765 core:Non-currentFinancialInstruments core:AfterOneYear 2021-04-30 00432765 core:FurnitureFittings 2021-04-30 00432765 core:MotorVehicles 2021-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 00432765

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

4

764

1,481

Investment property

5

1,348,387

1,788,329

 

1,349,151

1,789,810

Current assets

 

Cash at bank and in hand

 

67,362

245,753

Creditors: Amounts falling due within one year

6

(117,002)

(66,895)

Net current (liabilities)/assets

 

(49,640)

178,858

Total assets less current liabilities

 

1,299,511

1,968,668

Creditors: Amounts falling due after more than one year

6

-

(245,535)

Provisions for liabilities

(51,443)

(96,373)

Net assets

 

1,248,068

1,626,760

Capital and reserves

 

Called up share capital

7

1,500

1,500

Revaluation reserve

8

447,278

988,017

Retained earnings

799,290

637,243

Shareholders' funds

 

1,248,068

1,626,760

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 29 July 2022 and signed on its behalf by:


M. Flint

Director

 

MF Property Holdings Ltd

Notes to the Accounts

Year Ended 30 April 2022

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
20 Kirkgate
Sherburn in Elmet
Leeds
LS25 6BL

These financial statements were authorised for issue by the Board on 29 July 2022.

2

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

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. Changes in fair value are recognised in profit or loss.

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.

3

Staff numbers

The average number of persons employed by the company during the year, was 1 (2021 - 1).

4

Tangible assets

Fixtures and fittings
£

Motor
vehicles
£

Total
£

Cost or valuation

At 1 May 2021

24,496

72,202

96,698

At 30 April 2022

24,496

72,202

96,698

Depreciation

At 1 May 2021

23,015

72,202

95,217

Charge for the year

717

-

717

At 30 April 2022

23,732

72,202

95,934

Carrying amount

At 30 April 2022

764

-

764

At 30 April 2021

1,481

-

1,481

 

MF Property Holdings Ltd

Notes to the Accounts

Year Ended 30 April 2022

5

Investment properties

2022
£

At 1 May 2021

1,788,329

Additions

100,797

Fair value adjustments

(540,739)

At 30 April 2022

1,348,387

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.

6

Creditors

Note

2022
£

2021
£

Due within one year

 

Amounts due to related parties

43,275

7,226

Corporation tax

 

28,579

21,979

Other taxes and social security

 

6,068

5,694

Other creditors

 

39,080

31,996

 

117,002

66,895

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

9

-

245,535

 

MF Property Holdings Ltd

Notes to the Accounts

Year Ended 30 April 2022

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £1 each

1,500

1,500

1,500

1,500

         

8

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

(540,739)

(540,739)

9

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

-

245,535