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REGISTERED NUMBER: 05504303 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

M&M PROPERTIES (LETTINGS) LIMITED

M&M PROPERTIES (LETTINGS) LIMITED (REGISTERED NUMBER: 05504303)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M&M PROPERTIES (LETTINGS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: M J Smith
S Root





SECRETARY: J Roff





REGISTERED OFFICE: 27 - 29 Hockliffe Street
Leighton Buzzard
Bedfordshire
LU7 1EZ





REGISTERED NUMBER: 05504303 (England and Wales)





ACCOUNTANTS: Ad Valorem Accountancy Services Limited
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Milton Keynes
Buckinghamshire
MK12 5NN

M&M PROPERTIES (LETTINGS) LIMITED (REGISTERED NUMBER: 05504303)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 10,209 5,386
10,209 5,386

CURRENT ASSETS
Debtors 7 377,233 363,314
Cash at bank 346,146 705,028
723,379 1,068,342
CREDITORS
Amounts falling due within one year 8 501,122 838,273
NET CURRENT ASSETS 222,257 230,069
TOTAL ASSETS LESS CURRENT
LIABILITIES

232,466

235,455

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 232,366 235,355
SHAREHOLDERS' FUNDS 232,466 235,455

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

M&M PROPERTIES (LETTINGS) LIMITED (REGISTERED NUMBER: 05504303)

BALANCE SHEET - continued
31 AUGUST 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 February 2024 and were signed on its behalf by:




S Root - Director



M J Smith - Director


M&M PROPERTIES (LETTINGS) LIMITED (REGISTERED NUMBER: 05504303)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. STATUTORY INFORMATION

M&M Properties (Lettings) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

TURNOVER
The company's turnover represents the value, excluding value added tax, of commission received from landlords on rental properties and other associated income generated from those rental properties. Turnover is recognised based on commission generated when rental receipts are due from from tenants.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, has been amortised evenly over its estimated useful life of ten years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Equipment - 25% on reducing balance
Website development - 50% on cost

TAXATION
Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

M&M PROPERTIES (LETTINGS) LIMITED (REGISTERED NUMBER: 05504303)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


3. ACCOUNTING POLICIES - continued

DEBTORS RECEIVABLE AND CREDITORS PAYABLE
Debtors and creditors with no stated interest rate and receivable or payable within or after one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 September 2022
and 31 August 2023 516,697
AMORTISATION
At 1 September 2022
and 31 August 2023 516,697
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 -

6. TANGIBLE FIXED ASSETS
Improvements Website
to property Equipment development Totals
£ £ £ £
COST
At 1 September 2022 39,523 63,452 3,667 106,642
Additions - 7,767 - 7,767
At 31 August 2023 39,523 71,219 3,667 114,409
DEPRECIATION
At 1 September 2022 39,523 58,066 3,667 101,256
Charge for year - 2,944 - 2,944
At 31 August 2023 39,523 61,010 3,667 104,200
NET BOOK VALUE
At 31 August 2023 - 10,209 - 10,209
At 31 August 2022 - 5,386 - 5,386

M&M PROPERTIES (LETTINGS) LIMITED (REGISTERED NUMBER: 05504303)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 211 2,698
Other debtors 377,022 360,616
377,233 363,314

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Clients' monies held 329,258 677,531
Trade creditors 13,171 34,401
Taxation and social security 153,164 119,567
Other creditors 5,529 6,774
501,122 838,273

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 100 100

10. OTHER FINANCIAL COMMITMENTS

The company had commitments of £3,796 as at 31 August 2023 (2022 - £8,910).

These all relate to vehicle leases.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2023 and 31 August 2022:

2023 2022
£ £
M J Smith
Balance outstanding at start of year 243,190 246,190
Amounts advanced 259,000 253,000
Amounts repaid (264,000 ) (256,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 238,190 243,190

M&M PROPERTIES (LETTINGS) LIMITED (REGISTERED NUMBER: 05504303)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

S Root
Balance outstanding at start of year 66,000 64,000
Amounts advanced 62,000 66,000
Amounts repaid (66,000 ) (64,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 62,000 66,000

The loans are interest free and repayable on demand.