REGISTERED NUMBER: |
MAP Investments Limited |
Financial Statements |
for the period |
1 January 2022 to 31 March 2023 |
REGISTERED NUMBER: |
MAP Investments Limited |
Financial Statements |
for the period |
1 January 2022 to 31 March 2023 |
MAP Investments Limited (Registered number: 04056791) |
Contents of the Financial Statements |
for the period 1 January 2022 to 31 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
MAP Investments Limited |
Company Information |
for the period 1 January 2022 to 31 March 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
250 Fowler Avenue |
Farnborough |
Hampshire |
GU14 7JP |
MAP Investments Limited (Registered number: 04056791) |
Balance Sheet |
31 March 2023 |
2023 | 2021 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investment property | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Provisions for liabilities | 31,076 |
Net assets |
Capital and reserves |
Called up share capital | 7 |
Fair value reserve | 8 |
Retained earnings |
Shareholders' funds |
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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
MAP Investments Limited (Registered number: 04056791) |
Notes to the Financial Statements |
for the period 1 January 2022 to 31 March 2023 |
1. | Statutory information |
MAP Investments Limited is a |
2. | Accounting policies |
Accounting convention |
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. |
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound. |
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. |
Turnover |
Turnover is recognised at the fair value of the consideration received or receivable for rental income in the normal course of business, and is shown net of VAT. |
Investment property |
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss. |
Cash at bank and in hand |
Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks. |
Financial instruments |
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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. |
Basic financial assets |
Basic financial assets, which include trade and other debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Basic financial liabilities |
Basic financial liabilities, including creditors and bank loans are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised. |
Equity instruments |
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. |
MAP Investments Limited (Registered number: 04056791) |
Notes to the Financial Statements - continued |
for the period 1 January 2022 to 31 March 2023 |
3. | Employees and directors |
The average number of employees during the period was |
4. | Investment property |
Total |
£ |
Fair value |
At 1 January 2022 |
and 31 March 2023 |
Net book value |
At 31 March 2023 |
At 31 December 2021 |
Fair value at 31 March 2023 is represented by: |
£ |
Valuation in 2018 | 193,932 |
Valuation in 2021 | 200,000 |
Cost | 356,068 |
750,000 |
The fair value of the investment property in Alexandra Road has been arrived at on the basis of a valuation carried out by a director at the period end. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. |
5. | Debtors: amounts falling due within one year |
2023 | 2021 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
6. | Creditors: amounts falling due within one year |
2023 | 2021 |
£ | £ |
Taxation and social security |
Other creditors |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2021 |
value: | £ | £ |
Ordinary | £1 |
MAP Investments Limited (Registered number: 04056791) |
Notes to the Financial Statements - continued |
for the period 1 January 2022 to 31 March 2023 |
8. | Reserves |
Fair value |
reserve |
£ |
At 1 January 2022 |
and 31 March 2023 |