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REGISTERED NUMBER: SC624832 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

MBT PROPERTY LIMITED

MBT PROPERTY LIMITED (REGISTERED NUMBER: SC624832)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MBT PROPERTY LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTOR: B J W McGuckin





REGISTERED OFFICE: 9 Glasgow Road
Paisley
PA1 3QS





REGISTERED NUMBER: SC624832 (Scotland)





ACCOUNTANTS: John M Taylor & Co
Chartered Accountants
9 Glasgow Road
PAISLEY
Renfrewshire
PA1 3QS

MBT PROPERTY LIMITED (REGISTERED NUMBER: SC624832)

BALANCE SHEET
31 March 2023

31.3.22 31.3.23
£    £    Notes £    £   
FIXED ASSETS
- Investment property 5 235,000

CURRENT ASSETS
- Debtors 6 2,701
100 Cash at bank and in hand 57,821
100 60,522
CREDITORS
- Amounts falling due within one year 7 127,493
100 NET CURRENT (LIABILITIES)/ASSETS (66,971 )
100 TOTAL ASSETS LESS CURRENT
LIABILITIES

168,029

CREDITORS
- Amounts falling due after more than one year 8 (160,154 )

- PROVISIONS FOR LIABILITIES 10 (3,875 )
100 NET ASSETS 4,000

CAPITAL AND RESERVES
100 Called up share capital 11 100
- Fair value reserve 12 16,520
- Retained earnings (12,620 )
100 SHAREHOLDERS' FUNDS 4,000

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MBT PROPERTY LIMITED (REGISTERED NUMBER: SC624832)

BALANCE SHEET - continued
31 March 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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 March 2024 and were signed by:





B J W McGuckin - Director


MBT PROPERTY LIMITED (REGISTERED NUMBER: SC624832)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

MBT Property Limited is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit and loss.

Revaluations are conducted annually by the director.

Taxation
Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period which the liability is settled or the asset is realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

MBT PROPERTY LIMITED (REGISTERED NUMBER: SC624832)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

3. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial Instruments
Basic financial instruments are recognised at amortised cost. Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

4. EMPLOYEES AND DIRECTORS

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 214,605
Revaluations 20,395
At 31 March 2023 235,000
NET BOOK VALUE
At 31 March 2023 235,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2023 20,395
Cost 214,605
235,000

Investment property was valued on a fair value basis by the director on 31st March 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 2,701 -

MBT PROPERTY LIMITED (REGISTERED NUMBER: SC624832)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other creditors 127,493 -

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 160,154 -

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 160,154 -

Aldermore Bank PLC holds a standard security over one of the investment properties.

Lendinvest BTL Limited holds a standard security over one of the investment properties.

10. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 3,875 -

Deferred
tax
£   
Provided during year 3,875
Balance at 31 March 2023 3,875

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary Shares £1 100 100

MBT PROPERTY LIMITED (REGISTERED NUMBER: SC624832)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

12. RESERVES
Fair
value
reserve
£   
Fair Value Adjustment 16,520

At 31 March 2023 16,520

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The balance outstanding at the year end is interest free and has no fixed repayment date.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is BJW McGuckin

BJW McGuckin, director, controls the company as a result of directly holding 100% of the issued share capital.

15. FIRST YEAR ADOPTION

These are these are the first statements that comply with FRS 102 Section 1A. The company transitioned to
FRS 102 Section 1A on 1 April 2022.

There are no adjustments arising on transition.