Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseNo description of principal activity44truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09152047 2022-04-01 2023-03-31 09152047 2021-04-01 2022-03-31 09152047 2023-03-31 09152047 2022-03-31 09152047 c:Director1 2022-04-01 2023-03-31 09152047 c:Director2 2022-04-01 2023-03-31 09152047 d:Buildings d:LongLeaseholdAssets 2022-04-01 2023-03-31 09152047 d:Buildings d:LongLeaseholdAssets 2023-03-31 09152047 d:Buildings d:LongLeaseholdAssets 2022-03-31 09152047 d:FreeholdInvestmentProperty 2023-03-31 09152047 d:FreeholdInvestmentProperty 2022-03-31 09152047 d:FreeholdInvestmentProperty 2 2022-04-01 2023-03-31 09152047 d:CurrentFinancialInstruments 2023-03-31 09152047 d:CurrentFinancialInstruments 2022-03-31 09152047 d:Non-currentFinancialInstruments 2023-03-31 09152047 d:Non-currentFinancialInstruments 2022-03-31 09152047 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09152047 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 09152047 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 09152047 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 09152047 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 09152047 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 09152047 d:ShareCapital 2023-03-31 09152047 d:ShareCapital 2022-03-31 09152047 d:InvestmentPropertiesRevaluationReserve 2022-04-01 2023-03-31 09152047 d:InvestmentPropertiesRevaluationReserve 2023-03-31 09152047 d:InvestmentPropertiesRevaluationReserve 2022-03-31 09152047 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 09152047 d:RetainedEarningsAccumulatedLosses 2023-03-31 09152047 d:RetainedEarningsAccumulatedLosses 2022-03-31 09152047 c:FRS102 2022-04-01 2023-03-31 09152047 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 09152047 c:FullAccounts 2022-04-01 2023-03-31 09152047 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09152047 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 09152047 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 09152047 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 09152047 d:TaxLossesCarry-forwardsDeferredTax 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 09152047










M P H S DEVELOPMENTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
M P H S DEVELOPMENTS LIMITED
REGISTERED NUMBER:09152047

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,031
2,064

Investment property
 5 
700,000
515,787

  
701,031
517,851

Current assets
  

Debtors: amounts falling due within one year
 6 
410
400

Cash at bank and in hand
  
16,133
17,473

  
16,543
17,873

Creditors: amounts falling due within one year
 7 
(220,904)
(224,215)

Net current liabilities
  
 
 
(204,361)
 
 
(206,342)

Total assets less current liabilities
  
496,670
311,509

Creditors: amounts falling due after more than one year
 8 
-
(68,803)

Provisions for liabilities
  

Deferred tax
 10 
(46,311)
(516)

  
 
 
(46,311)
 
 
(516)

Net assets
  
450,359
242,190


Capital and reserves
  

Called up share capital 
  
100
100

Investment property reserve
 11 
138,160
-

Profit and loss account
 11 
312,099
242,090

  
450,359
242,190


Page 1

 
M P H S DEVELOPMENTS LIMITED
REGISTERED NUMBER:09152047
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 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 income statement 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: 




................................................
S Monument
................................................
S Pymm
Director
Director


Date: 27 October 2023

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
M P H S DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

M P H S Developments Limited is a private company limited by shares and incorporated in England and Wales, registration number 09152047. The registered office is 4 Ber Street, Norwich, NR1 3EJ.

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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

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.

 
2.3

Borrowing costs

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

 
2.4

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.

Page 3

 
M P H S DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

L/Term Leasehold Property
-
Over the term of the lease

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

Page 4

 
M P H S DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).


4.


Tangible fixed assets





L/Term Leasehold Property

£



Cost or valuation


At 1 April 2022
10,328



At 31 March 2023

10,328



Depreciation


At 1 April 2022
8,264


Charge for the year on owned assets
1,033



At 31 March 2023

9,297



Net book value



At 31 March 2023
1,031



At 31 March 2022
2,064

Page 5

 
M P H S DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
515,787


Surplus on revaluation
184,213



At 31 March 2023
700,000

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



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
515,787
515,787

515,787
515,787


6.


Debtors

2023
2022
£
£


Other debtors
50
50

Prepayments and accrued income
360
350

410
400


Page 6

 
M P H S DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
-
72,000

Trade creditors
558
151

Corporation tax
16,838
14,397

Other taxation and social security
3,777
2,742

Other creditors
199,731
133,950

Accruals and deferred income
-
975

220,904
224,215


The following liabilities were secured:

2023
2022
£
£



Other loans
-
72,000

-
72,000

Details of security provided:

The other loan is secured by a charge on the F/H property k/a 2, 4 flats 4A & 4B and no. 6 Ber Street Norwich Norfolk and the l/h property of no. 6A Ber Street Norwich. This loan was settled in October 2022.

Page 7

 
M P H S DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
-
68,803

-
68,803


The following liabilities were secured:

2023
2022
£
£



Other Loans
-
68,803

-
68,803

Details of security provided:

The other loan is secured by a charge on the F/H property k/a 2, 4 flats 4A & 4B and no. 6 Ber Street Norwich Norfolk and the l/h property of no. 6A Ber Street Norwich. This loan was settled in October 2022. 

Page 8

 
M P H S DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Other loans
-
72,000


-
72,000

Amounts falling due 1-2 years

Other loans
-
68,803


-
68,803



-
140,803


Page 9

 
M P H S DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Deferred taxation




2023


£






At beginning of year
(516)


Charged to profit or loss
(45,795)



At end of year
(46,311)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(258)
(516)

Revalued properties
(46,053)
-

(46,311)
(516)


11.


Reserves

Investment property revaluation reserve

The surplus or deficit arising on the revaluation of freehold investment property, net of associated deferred tax, is credited or debited to the investment revaluation reserve. 

Profit & loss account

The profit and loss account includes all current and prior period retained profit and losses. 


12.


Related party transactions

Included within other creditors is an interest free loan from Pymm & Co Lettings Limited, a related party by virtue of common directors and shareholders. At the year end, the Company owed £197,781 (2022: £132,000).


2023
2022
£
£

Owed from/(to) Pymm & Co Lettings Limited
197,781
132,000
197,781
132,000

 
Page 10