Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-31No description of principal activity2022-02-01false22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06691234 2022-02-01 2023-01-31 06691234 2021-02-01 2022-01-31 06691234 2023-01-31 06691234 2022-01-31 06691234 c:Director2 2022-02-01 2023-01-31 06691234 d:FreeholdInvestmentProperty 2023-01-31 06691234 d:FreeholdInvestmentProperty 2022-01-31 06691234 d:FreeholdInvestmentProperty 2 2022-02-01 2023-01-31 06691234 d:CurrentFinancialInstruments 2023-01-31 06691234 d:CurrentFinancialInstruments 2022-01-31 06691234 d:Non-currentFinancialInstruments 2023-01-31 06691234 d:Non-currentFinancialInstruments 2022-01-31 06691234 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 06691234 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 06691234 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 06691234 d:Non-currentFinancialInstruments d:AfterOneYear 2022-01-31 06691234 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 06691234 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-01-31 06691234 d:ShareCapital 2023-01-31 06691234 d:ShareCapital 2022-01-31 06691234 d:RevaluationReserve 2023-01-31 06691234 d:RevaluationReserve 2022-01-31 06691234 d:RetainedEarningsAccumulatedLosses 2023-01-31 06691234 d:RetainedEarningsAccumulatedLosses 2022-01-31 06691234 c:OrdinaryShareClass1 2022-02-01 2023-01-31 06691234 c:OrdinaryShareClass1 2023-01-31 06691234 c:OrdinaryShareClass1 2022-01-31 06691234 c:FRS102 2022-02-01 2023-01-31 06691234 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 06691234 c:FullAccounts 2022-02-01 2023-01-31 06691234 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 06691234 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 06691234 d:AcceleratedTaxDepreciationDeferredTax 2022-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 06691234









MIX LETTINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
MIX LETTINGS LIMITED
REGISTERED NUMBER: 06691234

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
1,550,000
1,712,358

  
1,550,000
1,712,358

Current assets
  

Debtors: amounts falling due within one year
 5 
115,511
115,011

Cash at bank and in hand
 6 
3,444
4,591

  
118,955
119,602

Creditors: amounts falling due within one year
 7 
(24,155)
(24,468)

Net current assets
  
 
 
94,800
 
 
95,134

Total assets less current liabilities
  
1,644,800
1,807,492

Creditors: amounts falling due after more than one year
 8 
(793,822)
(807,298)

Provisions for liabilities
  

Deferred tax
 10 
(145,521)
(157,804)

  
 
 
(145,521)
 
 
(157,804)

Net assets
  
705,457
842,390


Capital and reserves
  

Called up share capital 
 11 
1
1

Revaluation reserve
  
620,380
770,455

Profit and loss account
  
85,076
71,934

  
705,457
842,390


Page 1

 
MIX LETTINGS LIMITED
REGISTERED NUMBER: 06691234
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Michael Newell
Director

Date: 27 October 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
MIX LETTINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

Mix Lettings Limited is a private company limited by shares and incorporated in England.(Registered number 06691234) Its registered office is 10 Standard Place, London, EC2A 3BE. The principal activity of the company during the period was that of letting of residential property.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. As a result, the directors consider it appropriate to prepare the financial statements on a going concern basis.
Potential sources of uncertainty noted by the directors include the COVID-19 pandemic. However, at the date of this report it is not possible to reliably determine the effects that this will have on the company.
 
Accordingly the directors have continued to prepare the financial statements on the going concern basis.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
MIX LETTINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

Page 4

 
MIX LETTINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Investment property


Freehold investment property

£



Valuation


At 1 February 2022
1,712,358


Surplus on revaluation
(162,358)



At 31 January 2023
1,550,000

The 2023 valuations were made by the directors, on an open market value for existing use basis.




Page 5

 
MIX LETTINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
115,511
115,011

115,511
115,011



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
3,444
4,591

3,444
4,591



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
11,220
11,696

Corporation tax
3,085
2,771

Accruals and deferred income
9,850
10,001

24,155
24,468



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
793,822
807,298

793,822
807,298


Page 6

 
MIX LETTINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
11,220
11,696


11,220
11,696

Amounts falling due 1-2 years

Bank loans
793,822
807,298


793,822
807,298



805,042
818,994



10.


Deferred taxation




2023


£






At beginning of year
(157,804)


Charged to profit or loss
12,283



At end of year
(145,521)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Losses Carried forward
(145,521)
(157,804)

(145,521)
(157,804)

Page 7

 
MIX LETTINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1


 
Page 8