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Company Registration No. 09746727 (England and Wales)
Minihan Properties Limited Unaudited accounts for the year ended 31 July 2023
Minihan Properties Limited Unaudited accounts Contents
Page
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Minihan Properties Limited Company Information for the year ended 31 July 2023
Director
Mr Francis David Minihan
Company Number
09746727 (England and Wales)
Registered Office
210 COAL CLOUGH LANE BURNLEY LANCASHIRE BB11 4NJ ENGLAND
Accountants
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT
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Minihan Properties Limited Accountants' report
Accountants' report to the director of Minihan Properties Limited on the preparation of the unaudited statutory accounts for the year ended 31 July 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Minihan Properties Limited for the year ended 31 July 2023 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Minihan Properties Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Minihan Properties Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Minihan Properties Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Minihan Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Minihan Properties Limited. You consider that Minihan Properties 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 accounts of Minihan Properties 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 accounts.
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT 26 January 2024
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Minihan Properties Limited Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
270,000 
250,000 
Current assets
Debtors
14,072 
14,072 
Cash at bank and in hand
586 
972 
14,658 
15,044 
Creditors: amounts falling due within one year
(28,750)
(28,343)
Net current liabilities
(14,092)
(13,299)
Total assets less current liabilities
255,908 
236,701 
Creditors: amounts falling due after more than one year
(221,657)
(228,912)
Net assets
34,251 
7,789 
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
77,416 
57,416 
Profit and loss account
(43,265)
(49,727)
Shareholders' funds
34,251 
7,789 
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 14 February 2024 and were signed on its behalf by
Mr Francis David Minihan Director Company Registration No. 09746727
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Minihan Properties Limited Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
Minihan Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 09746727. The registered office is 210 COAL CLOUGH LANE, BURNLEY, LANCASHIRE, BB11 4NJ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Minihan Properties Limited Notes to the Accounts for the year ended 31 July 2023
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 August 2022
8,258 
At 31 July 2023
8,258 
Depreciation
At 1 August 2022
8,258 
At 31 July 2023
8,258 
Net book value
At 31 July 2023
- 
5
Investment property
2023 
£ 
Fair value at 1 August 2022
250,000 
Net gain from fair value adjustments
20,000 
At 31 July 2023
270,000 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Deferred tax asset
13,180 
13,180 
Other debtors
892 
892 
14,072 
14,072 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Amounts owed to group undertakings and other participating interests
1,710 
- 
Other creditors
24,600 
26,126 
Loans from directors
655 
- 
Accruals
1,785 
2,217 
28,750 
28,343 
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Minihan Properties Limited Notes to the Accounts for the year ended 31 July 2023
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
171,176 
172,365 
Other creditors
50,481 
56,547 
221,657 
228,912 
Aggregate of amounts that fall due for payment after five years
- 
204,544 
In May 2020, the company received a Bounce Back Loan of £10,500, which is a 100% UK Government backed loan. Under the terms of the loan, the fees and interest incurred in the first 12 months are settled on behalf of the company by the UK Government. After the first 12 months, an interest rate of 2.5% is applicable. The initial length of the loan is for six years, with an option to extend to ten years under the Bounce Back Loan Scheme.
9
Transactions with related parties
At the balance sheet date the company owed a total of £30,598 (2020 - £34,986) to related companies. At the balance sheet date the company owed the directors £12,322 (2020 - £101,130). These balances are interest-free and repayable on demand.
10
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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