6
31/03/2023
2023-03-31
false
false
false
false
false
false
false
false
false
false
true
false
false
true
false
false
false
false
false
false
false
No description of principal activities is disclosed
2022-04-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
03031526
2022-04-01
2023-03-31
03031526
2023-03-31
03031526
2022-03-31
03031526
2021-04-01
2022-03-31
03031526
2022-03-31
03031526
core:PlantMachinery
2022-04-01
2023-03-31
03031526
core:FurnitureFittingsToolsEquipment
2022-04-01
2023-03-31
03031526
core:MotorVehicles
2022-04-01
2023-03-31
03031526
bus:RegisteredOffice
2022-04-01
2023-03-31
03031526
bus:LeadAgentIfApplicable
2022-04-01
2023-03-31
03031526
bus:Director1
2022-04-01
2023-03-31
03031526
bus:Director2
2022-04-01
2023-03-31
03031526
bus:Director3
2022-04-01
2023-03-31
03031526
bus:Director4
2022-04-01
2023-03-31
03031526
bus:CompanySecretary1
2022-04-01
2023-03-31
03031526
core:LandBuildings
core:ShortLeaseholdAssets
2022-03-31
03031526
core:PlantMachinery
2022-03-31
03031526
core:FurnitureFittingsToolsEquipment
2022-03-31
03031526
core:LandBuildings
core:ShortLeaseholdAssets
2023-03-31
03031526
core:PlantMachinery
2023-03-31
03031526
core:FurnitureFittingsToolsEquipment
2023-03-31
03031526
core:MotorVehicles
2023-03-31
03031526
core:WithinOneYear
2023-03-31
03031526
core:WithinOneYear
2022-03-31
03031526
core:ShareCapital
2023-03-31
03031526
core:ShareCapital
2022-03-31
03031526
core:RetainedEarningsAccumulatedLosses
2023-03-31
03031526
core:RetainedEarningsAccumulatedLosses
2022-03-31
03031526
core:PlantMachinery
2022-03-31
03031526
core:FurnitureFittingsToolsEquipment
2022-03-31
03031526
bus:SmallEntities
2022-04-01
2023-03-31
03031526
bus:AuditExemptWithAccountantsReport
2022-04-01
2023-03-31
03031526
bus:FullAccounts
2022-04-01
2023-03-31
03031526
bus:SmallCompaniesRegimeForAccounts
2022-04-01
2023-03-31
03031526
bus:PrivateLimitedCompanyLtd
2022-04-01
2023-03-31
03031526
core:ParentEntities
2022-04-01
2023-03-31
Company registration number:
03031526
MUA PROPERTY SERVICES LIMITED
Trading as
MUA Property Services Limited
Unaudited filleted financial statements
31 March 2023
MUA PROPERTY SERVICES LIMITED
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
MUA PROPERTY SERVICES LIMITED
Directors and other information
|
|
|
|
Directors |
R. Chambers |
|
|
D.P. Cross |
|
|
I.V. Roberts |
|
|
P.J. Sewell |
|
|
|
|
|
|
|
Secretary |
I.V. Roberts |
|
|
|
|
|
|
|
Company number |
03031526 |
|
|
|
|
|
|
|
Registered office |
Warlies Park House |
|
|
Horseshoe Hill |
|
|
Upshire |
|
|
EN9 3SL |
|
|
|
|
|
|
|
Business address |
Warlies Park House |
|
|
Horseshoe Hill |
|
|
Upshire |
|
|
EN9 3SL |
|
|
|
|
|
|
|
Accountants |
Peaty & Co |
|
|
163-164 Moulsham Street |
|
|
Chelmsford |
|
|
Essex |
|
|
CM2 0LD |
|
|
|
MUA PROPERTY SERVICES LIMITED
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of MUA Property Services Limited
Year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MUA Property Services Limited for the year ended 31 March 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of MUA Property Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of MUA Property Services Limited and state those matters that we have agreed to state to the board of directors of MUA Property Services Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MUA Property Services Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that MUA Property Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MUA Property Services Limited. You consider that MUA Property Services Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of MUA Property Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Peaty & Co
Chartered Accountants
163-164 Moulsham Street
Chelmsford
Essex
CM2 0LD
20 November 2023
MUA PROPERTY SERVICES LIMITED
Statement of financial position
31 March 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
6 |
26,941 |
|
|
|
2,351 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
26,941 |
|
|
|
2,351 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
7 |
1,360,487 |
|
|
|
1,345,542 |
|
|
Cash at bank and in hand |
|
|
284,548 |
|
|
|
376,777 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
1,645,035 |
|
|
|
1,722,319 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
8 |
(
762,271) |
|
|
|
(
831,479) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
882,764 |
|
|
|
890,840 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
909,705 |
|
|
|
893,191 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
909,705 |
|
|
|
893,191 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
1,000 |
|
|
|
1,000 |
Profit and loss account |
|
|
|
|
908,705 |
|
|
|
892,191 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
909,705 |
|
|
|
893,191 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 March 2023 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
20 November 2023
, and are signed on behalf of the board by:
I.V. Roberts
P.J. Sewell
Director
Director
Company registration number:
03031526
MUA PROPERTY SERVICES LIMITED
Notes to the financial statements
Year ended 31 March 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Warlies Park House, Horseshoe Hill, Upshire, EN9 3SL.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis
and in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Plant and machinery |
- |
10 % |
reducing balance |
|
Fittings fixtures and equipment |
- |
25 % |
straight line |
|
Motor vehicles |
- |
20 % |
straight line |
|
|
|
|
|
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.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
6
(2022:
6
).
5.
Directors remuneration
The directors aggregate remuneration in respect of qualifying services was:
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Remuneration |
|
819,088 |
918,895 |
|
Company contributions to pension schemes in respect of qualifying services |
|
7,440 |
57,440 |
|
|
|
_______ |
_______ |
|
|
|
826,528 |
976,335 |
|
|
|
_______ |
_______ |
|
|
|
|
|
6.
Tangible assets
|
|
Short leasehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
|
|
|
|
£ |
£ |
£ |
£ |
£ |
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 April 2022 |
7,625 |
25,202 |
111,060 |
- |
143,887 |
|
|
|
Additions |
- |
- |
1,310 |
30,117 |
31,427 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 March 2023 |
7,625 |
25,202 |
112,370 |
30,117 |
175,314 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 April 2022 |
7,625 |
23,130 |
110,781 |
- |
141,536 |
|
|
|
Charge for the year |
- |
207 |
607 |
6,023 |
6,837 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 March 2023 |
7,625 |
23,337 |
111,388 |
6,023 |
148,373 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 March 2023 |
- |
1,865 |
982 |
24,094 |
26,941 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 March 2022 |
- |
2,072 |
279 |
- |
2,351 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade debtors |
|
164,675 |
224,582 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
940,879 |
882,050 |
|
Other debtors |
|
254,933 |
238,910 |
|
|
|
_______ |
_______ |
|
|
|
1,360,487 |
1,345,542 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade creditors |
|
3,373 |
5,535 |
|
Social security and other taxes |
|
43,450 |
50,381 |
|
Other creditors |
|
715,448 |
775,563 |
|
|
|
_______ |
_______ |
|
|
|
762,271 |
831,479 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
|
|
|
£ |
£ |
|
|
|
Not later than 1 year |
18,486 |
18,780 |
|
_______ |
_______ |
|
|
|
10.
Related party transactions
During the year the company received management charges of £50,796 (2022 £59,607) from the Machinery Users' Association (Incorporated). At 31st March 2023 £940,879 (2022 £882,050) was owed to the company by the Machinery Users' Association (Incorporated).