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REGISTERED NUMBER: 08656354 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31st July 2023

for

Mitec Property Services Ltd

Mitec Property Services Ltd (Registered number: 08656354)






Contents of the Financial Statements
for the year ended 31st July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Mitec Property Services Ltd

Company Information
for the year ended 31st July 2023







DIRECTORS: Mr G Willacy
Mr J R Ashley





SECRETARY: Mr G Willacy





REGISTERED OFFICE: Black Bull House
353-355 Station Road
Bamber Bridge
Preston
Lancashire
PR5 6EE





REGISTERED NUMBER: 08656354 (England and Wales)





ACCOUNTANTS: Robin Oatridge & Co Limited
Chartered Certified Accountants
Black Bull House
353-355 Station Road
Bamber Bridge
Preston
Lancashire
PR5 6EE

Mitec Property Services Ltd (Registered number: 08656354)

Balance Sheet
31st July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 462,939 463,555

CURRENT ASSETS
Cash at bank 364,642 367,930

CREDITORS
Amounts falling due within one year 5 41,190 45,247
NET CURRENT ASSETS 323,452 322,683
TOTAL ASSETS LESS CURRENT
LIABILITIES

786,391

786,238

CREDITORS
Amounts falling due after more than one
year

6

229,924

229,887
NET ASSETS 556,467 556,351

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 556,367 556,251
SHAREHOLDERS' FUNDS 556,467 556,351

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

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

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 15th April 2024 and were signed on its behalf by:



Mr G Willacy - Director


Mitec Property Services Ltd (Registered number: 08656354)

Notes to the Financial Statements
for the year ended 31st July 2023

1. STATUTORY INFORMATION

Mitec Property Services Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

No depreciation is provided in respect of the land and buildings which are held as investments. This treatment may be a departure from the requirements of the Companies Act 2006 regarding depreciation of fixed assets, but the directors consider this accounting policy is necessary for the accounts to give a true and fair view, as the land and buildings are held for investment not consumption.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Mitec Property Services Ltd (Registered number: 08656354)

Notes to the Financial Statements - continued
for the year ended 31st July 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st August 2022
and 31st July 2023 462,322 3,366 465,688
DEPRECIATION
At 1st August 2022 - 2,133 2,133
Charge for year - 616 616
At 31st July 2023 - 2,749 2,749
NET BOOK VALUE
At 31st July 2023 462,322 617 462,939
At 31st July 2022 462,322 1,233 463,555

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,664 8,664
Taxation and social security 18,488 26,491
Other creditors 14,038 10,092
41,190 45,247

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 229,924 229,887

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 195,267 195,230

7. LEASING AGREEMENTS
The company has lease commitments of £94,136 which expire between one and three years (2022 - £155,059).

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 238,588 238,551

The bank loans are secured by charges over the land and buildings owned by the company.

Mitec Property Services Ltd (Registered number: 08656354)

Notes to the Financial Statements - continued
for the year ended 31st July 2023

9. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.