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REGISTERED NUMBER: 04195532 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

M & M (MK) LIMITED

M & M (MK) LIMITED (REGISTERED NUMBER: 04195532)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M & M (MK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: M R Storey
M P Storey





SECRETARY: M P Storey





REGISTERED OFFICE: Argent House
5 Goldington Road
Bedford
Bedfordshire
MK40 3JY





BUSINESS ADDRESS: First Avenue
Denbigh West Industrial Estate
Bletchley
Milton Keynes
MK1 1DX





REGISTERED NUMBER: 04195532 (England and Wales)





ACCOUNTANTS: Rawlinson Pryde Limited
Chartered Accountants
Argent House
5 Goldington Road
Bedford
Bedfordshire
MK40 3JY

M & M (MK) LIMITED (REGISTERED NUMBER: 04195532)

BALANCE SHEET
30 JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 5,617,894 5,089,701

CURRENT ASSETS
Debtors 5 - 37,786
Prepayments and accrued income 23,932 -
Cash at bank 6,107,940 6,138,982
6,131,872 6,176,768
CREDITORS
Amounts falling due within one year 6 - 132,253
NET CURRENT ASSETS 6,131,872 6,044,515
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,749,766

11,134,216

PROVISIONS FOR LIABILITIES 7 (942,250 ) (654,368 )

ACCRUALS AND DEFERRED INCOME (3,000 ) (8,929 )
NET ASSETS 10,804,516 10,470,919

CAPITAL AND RESERVES
Called up share capital 8 2 2
Fair value reserve 9 3,914,609 -
Retained earnings 6,889,905 10,470,917
SHAREHOLDERS' FUNDS 10,804,516 10,470,919

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 (MK) LIMITED (REGISTERED NUMBER: 04195532)

BALANCE SHEET - continued
30 JUNE 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 14 January 2024 and were signed on its behalf by:




M R Storey - Director



M P Storey - Director


M & M (MK) LIMITED (REGISTERED NUMBER: 04195532)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

M & M (MK) 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. ACCOUNTING POLICIES

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

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Interest income
Interest income is recognised in the profit or loss using the accruals basis.

Dividend and other investment income
Dividends and other investment income are recognised in the profit or loss when they are received.

Fixed asset investments
Fixed asset investments are those which are expected to be held for a period of at least one year form the balance sheet date.

Fixed asset investments held in listed company shares are remeasured to the market value at each balance sheet date. The remeasured gains and loses are recognised in the profit or loss in the period.

The remeasured gains and loses are shown in the fair value reserve.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, on-demand deposits with banks and other short-term highly liquid investments.

M & M (MK) LIMITED (REGISTERED NUMBER: 04195532)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loan from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable in one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows, discounted at market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:

- at fair value with changes recognised in the Statement of Income and Retained Earnings if the shares are publicly traded or their fair value can otherwise be measured reliably;

- at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.


M & M (MK) LIMITED (REGISTERED NUMBER: 04195532)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end, foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction, and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Listed
investment
£   
COST OR VALUATION
At 1 July 2022 5,089,701
Revaluations 528,193
At 30 June 2023 5,617,894
NET BOOK VALUE
At 30 June 2023 5,617,894
At 30 June 2022 5,089,701

M & M (MK) LIMITED (REGISTERED NUMBER: 04195532)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

4. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 30 June 2023 is represented by:

Listed
investment
£   
Valuation in 2018 12,921
Valuation in 2019 (84,409 )
Valuation in 2020 890,861
Valuation in 2021 2,387,167
Valuation in 2022 179,923
Valuation in 2023 528,193
Cost 1,703,238
5,617,894

If the investments had not been revalued they would have been included at the following historical cost:

30.6.23 30.6.22
£    £   
Cost 1,703,238 1,703,238

Investments were valued on an open market basis on 30 June 2023 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors - 6,409
Loan Wavendon Properties Ltd - 31,000
VAT - 377
- 37,786

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors - 11,813
Directors' current accounts - 120,440
- 132,253

7. PROVISIONS FOR LIABILITIES
30.6.23 30.6.22
£    £   
Deferred tax
Tax losses carried forward (36,414 ) -
Other timing differences 978,664 654,368
942,250 654,368

M & M (MK) LIMITED (REGISTERED NUMBER: 04195532)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 July 2022 654,368
Provided during year 324,296
Tax losses (36,414 )
Balance at 30 June 2023 942,250

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
2 Ordinary £1 2 2

9. RESERVES
Fair
value
reserve
£   
Transfer of reserves 3,914,609

At 30 June 2023 3,914,609

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M &M (MK) Investment Holdings Limited, (Company No.: 14184293).