REGISTERED NUMBER: |
MAH Property Solutions Limited |
Unaudited Financial Statements for the Year Ended 31 October 2022 |
REGISTERED NUMBER: |
MAH Property Solutions Limited |
Unaudited Financial Statements for the Year Ended 31 October 2022 |
MAH Property Solutions Limited (Registered number: 12981232) |
Contents of the Financial Statements |
for the Year Ended 31 October 2022 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
MAH Property Solutions Limited |
Company Information |
for the Year Ended 31 October 2022 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
5 Queen Street |
Great Yarmouth |
Norfolk |
NR30 2QP |
MAH Property Solutions Limited (Registered number: 12981232) |
Statement of Financial Position |
31 October 2022 |
31/10/22 | 31/10/21 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investment property | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) | ( |
) |
Provisions for liabilities | 8 |
Net liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital | 9 |
Revaluation reserve | 10 |
Retained earnings | 10 | ( |
) | ( |
) |
Shareholders' funds | ( |
) | ( |
) |
The directors acknowledge their 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. |
MAH Property Solutions Limited (Registered number: 12981232) |
Statement of Financial Position - continued |
31 October 2022 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
MAH Property Solutions Limited (Registered number: 12981232) |
Notes to the Financial Statements |
for the Year Ended 31 October 2022 |
1. | Statutory information |
MAH Property Solutions Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Freehold property is held for its investment potential and is not depreciated. |
Caravan 15% reducing balance basis |
Plant and machinery 25 % reducing balance basis |
If there is an indication that there has been a significant change in depreciation rate, useful life, or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates. |
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. |
Financial instruments |
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. |
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 statement of financial position date. |
MAH Property Solutions Limited (Registered number: 12981232) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2022 |
2. | Accounting policies - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 |
4. | Tangible fixed assets |
Plant and |
Caravan | machinery | Totals |
£ | £ | £ |
Cost |
At 1 November 2021 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 October 2022 |
Depreciation |
At 1 November 2021 |
Charge for year |
At 31 October 2022 |
Net book value |
At 31 October 2022 |
At 31 October 2021 |
5. | Investment property |
Total |
£ |
Fair value |
At 1 November 2021 |
Revaluations | 20,230 |
At 31 October 2022 |
Net book value |
At 31 October 2022 |
At 31 October 2021 |
MAH Property Solutions Limited (Registered number: 12981232) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2022 |
5. | Investment property - continued |
Fair value at 31 October 2022 is represented by: |
£ |
Valuation in 2022 | 20,230 |
Cost | 99,770 |
120,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
31/10/22 | 31/10/21 |
£ | £ |
Cost | 99,770 | 99,770 |
Investment Property was valued on an open market basis basis on 31 October 2022 by director Mr MAM Haddow . |
6. | Debtors |
31/10/22 | 31/10/21 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Prepayments |
Amounts falling due after more than one year: |
Tax |
Aggregate amounts |
7. | Creditors: amounts falling due within one year |
31/10/22 | 31/10/21 |
£ | £ |
Payments on account |
Other creditors |
Directors' current accounts | 159,382 | 140,804 |
8. | Provisions for liabilities |
31/10/22 | 31/10/21 |
£ | £ |
Deferred tax | 7,278 | 4,088 |
MAH Property Solutions Limited (Registered number: 12981232) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2022 |
8. | Provisions for liabilities - continued |
Deferred |
tax |
£ |
Balance at 1 November 2021 |
Charge to Income Statement during year |
Balance at 31 October 2022 |
9. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/10/22 | 31/10/21 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
Ordinary A to E shares | £1 | 5 | 5 |
105 | 105 |
10. | Reserves |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
At 1 November 2021 | ( |
) | (13,832 | ) |
Profit for the year |
Transfer revaluation reserve | (16,386 | ) | 16,386 | - |
At 31 October 2022 | ( |
) | (9,334 | ) |
11. | Related party disclosures |
During the year director Mr M A M Haddow made advances to the company, which were interest free and unsecured. At the year end the company owed Mr M A M Haddow £159,382 (2021 £140,804) |
12. | Ultimate controlling party |
The controlling party is M A M Haddow. |
13. | Going concern |
The directors consider that in preparing these financial statements they have taken into account all the information that could reasonably be expected to be available. On this basis, they consider it appropriate to prepare the financial statements on the going concern basis despite the company having net liabilities of £9,229 at 31 October 2022. The validity of the going concern basis is dependant upon the continued support of the directors. |