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COMPANY REGISTRATION NUMBER: 00725995
MICHAELSON PROPERTIES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 July 2023
MICHAELSON PROPERTIES LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2023
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 3
MICHAELSON PROPERTIES LIMITED
BALANCE SHEET
31 July 2023
2023
2022
Note
£
£
Current assets
Debtors
5
325,777
327,924
Cash at bank and in hand
2,465
23,754
------------
------------
328,242
351,678
Creditors: amounts falling due within one year
6
( 260,520)
( 283,917)
------------
------------
Net current assets
67,722
67,761
------------
------------
Total assets less current liabilities
67,722
67,761
------------
------------
Net assets
67,722
67,761
------------
------------
Capital and reserves
Called up share capital
7
5,200
5,200
Profit and loss account
62,522
62,561
------------
------------
Shareholders funds
67,722
67,761
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 February 2024 , and are signed on behalf of the board by:
Mr R C Franks
Director
Company registration number: 00725995
MICHAELSON PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35 Westgate, Huddersfield, HD1 1PA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 2 ).
5. Debtors
2023
2022
£
£
Prepayments and accrued income
2,147
Director's loan account
244,929
244,929
Tax recoverable
80,848
80,848
------------
------------
325,777
327,924
------------
------------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
53
2,200
Other creditors
1,250
Amounts owed to group undertakings
260,467
280,467
------------
------------
260,520
283,917
------------
------------
7. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
5,200
5,200
5,200
5,200
------------
------------
------------
------------
8. Control
The company is a wholly-owned subsidiary of RRF Properties Limited.