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REGISTERED NUMBER: 04401437 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 August 2023

for

MPH Estates Limited

MPH Estates Limited (Registered number: 04401437)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MPH Estates Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: F Christodoulou
Mrs T Christodoulou





SECRETARY: F Christodoulou





REGISTERED OFFICE: 66 Lancaster Avenue
Hadley Wood
Barnet
Hertfordshire
EN4 0EU





BUSINESS ADDRESS: 11-19 Grange Lane
Leicester
Leicestershire
LE2 7EE





REGISTERED NUMBER: 04401437 (England and Wales)





ACCOUNTANTS: Tollingtons Accountants Limited
Chartered Certified Accountants
11 Ashton Drive
Enderby
Leicestershire
LE19 4BA

MPH Estates Limited (Registered number: 04401437)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 10,670,000 10,580,000

CURRENT ASSETS
Cash at bank and in hand 8,981 4,868

CREDITORS
Amounts falling due within one year 5 645,251 516,404
NET CURRENT LIABILITIES (636,270 ) (511,536 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,033,730

10,068,464

CREDITORS
Amounts falling due after more than one
year

6

(4,520,000

)

(4,242,475

)

PROVISIONS FOR LIABILITIES 8 (311,773 ) (381,452 )
NET ASSETS 5,201,957 5,444,537

CAPITAL AND RESERVES
Called up share capital 9 4,200 4,200
Share premium 10 329,400 329,400
Fair value reserve 10 2,395,556 2,604,592
Retained earnings 10 2,472,801 2,506,345
SHAREHOLDERS' FUNDS 5,201,957 5,444,537

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

MPH Estates Limited (Registered number: 04401437)

Balance Sheet - continued
31 August 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 5 April 2024 and were signed on its behalf by:





F Christodoulou - Director


MPH Estates Limited (Registered number: 04401437)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

MPH Estates 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.

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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022 10,580,000
Additions 368,715
Impairments (278,715 )
At 31 August 2023 10,670,000
NET BOOK VALUE
At 31 August 2023 10,670,000
At 31 August 2022 10,580,000

MPH Estates Limited (Registered number: 04401437)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. INVESTMENT PROPERTY - continued

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2016 1,971,166
Valuation in 2017 978,810
Valuation in 2018 1,289,385
Valuation in 2019 (75,346 )
Valuation in 2020 22,029
Valuation in 2021 (1,200,000 )
Valuation in 2023 (278,715 )
Cost 7,962,671
10,670,000

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

31.8.23 31.8.22
£    £   
Cost 7,962,671 7,593,956

The investment properties were valued on an estimated net yield basis on 4 April 2024 by the director, F Christodoulou .

The directors are of the opinion that the current value of the investment properties is £10,670,000. This value is less than the previous valuations as detailed below, hence the reduction in the fair value of the investment properties in the 2021 and 2023 accounts.

Previously Kingfisher Court was valued on an open market basis by CBRE Limited at £6,400,000 on 8 November 2018.

Previously Chevron Court was valued on a Gross Development Value basis by CBRE Limited at £5,380,000 on 26 October 2016.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 200,000 200,000
Trade creditors 257,108 135,133
Tax 98,871 133,871
Accrued expenses 89,272 47,400
645,251 516,404

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans - 2-5 years 4,230,000 4,242,475
Shareholder loans 290,000 -
4,520,000 4,242,475

MPH Estates Limited (Registered number: 04401437)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

7. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Bank loans 4,430,000 4,442,475

National Westminster Bank PLC hold a debenture and legal mortgage and charge over the assets of the company as security for the bank loans.

8. PROVISIONS FOR LIABILITIES
31.8.23 31.8.22
£    £   
Deferred tax on investment property gain 311,773 381,452

Deferred
tax
£   
Balance at 1 September 2022 381,452
Credit to Income Statement during year (69,679 )
Balance at 31 August 2023 311,773

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
4,200 Ordinary £1 4,200 4,200

10. RESERVES
Fair
Retained Share value
earnings premium reserve Totals
£    £    £    £   

At 1 September 2022 2,506,345 329,400 2,604,592 5,440,337
Deficit for the year (225,780 ) (225,780 )
Dividends (16,800 ) (16,800 )
Fair value reserve transfer 209,036 - (209,036 ) -
At 31 August 2023 2,472,801 329,400 2,395,556 5,197,757