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REGISTERED NUMBER: 03173130 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

MANAGED PROPERTY SUPPLY LIMITED

MANAGED PROPERTY SUPPLY LIMITED (REGISTERED NUMBER: 03173130)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MANAGED PROPERTY SUPPLY LIMITED

COMPANY INFORMATION
for the year ended 31 May 2023







DIRECTORS: Mr N D Morgan
Ms E Willson





SECRETARY: Ms E Willson





REGISTERED OFFICE: The Old Granary
Heath Road
Felmingham
North Walsham
Norfolk
NR28 0JN





REGISTERED NUMBER: 03173130 (England and Wales)





ACCOUNTANTS: Sexty & Co
Chartered Certified Accountants
2a Church Street
North Walsham
Norfolk
NR28 9DA

MANAGED PROPERTY SUPPLY LIMITED (REGISTERED NUMBER: 03173130)

BALANCE SHEET
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,765,544 1,748,104

CURRENT ASSETS
Debtors 6 3,053 -
Cash at bank 57,260 146,947
60,313 146,947
CREDITORS
Amounts falling due within one year 7 89,647 78,180
NET CURRENT (LIABILITIES)/ASSETS (29,334 ) 68,767
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,736,210

1,816,871

CREDITORS
Amounts falling due after more than one
year

8

(436,168

)

(576,599

)

PROVISIONS FOR LIABILITIES (255,000 ) (190,000 )
NET ASSETS 1,045,042 1,050,272

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,044,942 1,050,172
SHAREHOLDERS' FUNDS 1,045,042 1,050,272

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

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.

MANAGED PROPERTY SUPPLY LIMITED (REGISTERED NUMBER: 03173130)

BALANCE SHEET - continued
31 May 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 13 October 2023 and were signed on its behalf by:




Mr N D Morgan - Director



Ms E Willson - Director


MANAGED PROPERTY SUPPLY LIMITED (REGISTERED NUMBER: 03173130)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 May 2023

1. STATUTORY INFORMATION

Managed Property Supply Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents amounts receivable in respect of property letting.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 10% on reducing balance

No depreciation is provided on the freehold property as this is held for investment purposes and included in the balance sheet at open market value.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

MANAGED PROPERTY SUPPLY LIMITED (REGISTERED NUMBER: 03173130)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 June 2022 1,747,500 2,429 1,749,929
Revaluations 17,500 - 17,500
At 31 May 2023 1,765,000 2,429 1,767,429
DEPRECIATION
At 1 June 2022 - 1,825 1,825
Charge for year - 60 60
At 31 May 2023 - 1,885 1,885
NET BOOK VALUE
At 31 May 2023 1,765,000 544 1,765,544
At 31 May 2022 1,747,500 604 1,748,104

Investment properties have either been revalued by an external valuer within 5 years or by N D Morgan FRICS, Director, as at the year end date. If the investment properties brought forward had not been revalued they would have been shown at a cost of £886,720.

Cost or valuation at 31 May 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2023 898,280 - 898,280
Cost 866,720 2,429 869,149
1,765,000 2,429 1,767,429

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 3,053 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 18,401 20,419
Trade creditors 37 38
Taxation and social security 13,341 11,200
Other creditors 57,868 46,523
89,647 78,180

MANAGED PROPERTY SUPPLY LIMITED (REGISTERED NUMBER: 03173130)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 234,731 404,842
Other creditors 201,437 171,757
436,168 576,599

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 125,972 116,127

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 253,132 425,261
Other loans 91,472 -
344,604 425,261

The above loans are secured against the company's freehold properties including a first legal charge and directors' guarantees.