Mansfield Properties Limited 07494455 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is the letting and operating of own or leased real estate Digita Accounts Production Advanced 6.30.9574.0 true 07494455 2023-02-01 2024-01-31 07494455 2024-01-31 07494455 bus:OrdinaryShareClass1 2024-01-31 07494455 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 07494455 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 07494455 core:FurnitureFittingsToolsEquipment 2024-01-31 07494455 core:LandBuildings 2024-01-31 07494455 bus:SmallEntities 2023-02-01 2024-01-31 07494455 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 07494455 bus:FullAccounts 2023-02-01 2024-01-31 07494455 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 07494455 bus:RegisteredOffice 2023-02-01 2024-01-31 07494455 bus:CompanySecretary1 2023-02-01 2024-01-31 07494455 bus:Director1 2023-02-01 2024-01-31 07494455 bus:Director3 2023-02-01 2024-01-31 07494455 bus:Director4 2023-02-01 2024-01-31 07494455 bus:Director6 2023-02-01 2024-01-31 07494455 bus:Director7 2023-02-01 2024-01-31 07494455 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 07494455 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07494455 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 07494455 core:LandBuildings 2023-02-01 2024-01-31 07494455 core:OfficeEquipment 2023-02-01 2024-01-31 07494455 countries:EnglandWales 2023-02-01 2024-01-31 07494455 2023-01-31 07494455 core:FurnitureFittingsToolsEquipment 2023-01-31 07494455 core:LandBuildings 2023-01-31 07494455 2022-02-01 2023-01-31 07494455 2023-01-31 07494455 bus:OrdinaryShareClass1 2023-01-31 07494455 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 07494455 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 07494455 core:FurnitureFittingsToolsEquipment 2023-01-31 07494455 core:LandBuildings 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07494455

Mansfield Properties Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Mansfield Properties Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Mansfield Properties Limited

Company Information

Directors

Mrs R E Dudeney

Mr M M Dudeney

Mr T C Dudeney

Mr M L Steely-Dudeney

Miss T V Dudeney

Company secretary

Stiles Harold Williams LLP

Registered office

Maria House
35 Millers Road
Brighton
BN1 5NP

Accountants

Chisnall Comer Ismail & Co
Chartered Accountants
Maria House
35 Millers Road
Brighton
BN1 5NP

 

Mansfield Properties Limited

(Registration number: 07494455)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,486,038

1,486,077

Current assets

 

Cash at bank and in hand

 

307,970

301,536

Creditors: Amounts falling due within one year

5

(900,907)

(916,799)

Net current liabilities

 

(592,937)

(615,263)

Total assets less current liabilities

 

893,101

870,814

Creditors: Amounts falling due after more than one year

5

(995)

(995)

Provisions for liabilities

(119,172)

(119,172)

Net assets

 

772,934

750,647

Capital and reserves

 

Called up share capital

6

100

100

Revaluation reserve

357,516

357,516

Retained earnings

415,318

393,031

Shareholders' funds

 

772,934

750,647

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Mansfield Properties Limited

(Registration number: 07494455)
Balance Sheet as at 31 January 2024

Approved and authorised by the Board on 4 April 2024 and signed on its behalf by:



 

.........................................

Mr M M Dudeney

Director

 

Mansfield Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Maria House
35 Millers Road
Brighton
BN1 5NP

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Mansfield Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% Straight line

Investment property

Investment property is carried at fair value. Gains are recognised in the profit and loss. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Non-distributable reserve
The aggregate fair value adjustments relating to movements in the value of the company's investment properties are transferred at the end of each period, net of deferred tax, from the profit and loss reserve to the non-distributable reserve.

On disposal of investment property the aggregate fair value adjustment is transferred back to profit and loss reserves and the deferred tax provision is transferred to current tax liabilities.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

 

Mansfield Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

1,486,000

115

1,486,115

At 31 January 2024

1,486,000

115

1,486,115

Depreciation

At 1 February 2023

-

38

38

Charge for the year

-

39

39

At 31 January 2024

-

77

77

Carrying amount

At 31 January 2024

1,486,000

38

1,486,038

At 31 January 2023

1,486,000

77

1,486,077

Included within the net book value of land and buildings above is £1,486,000 (2023 - £1,486,000) in respect of freehold land and buildings.
 

 

Mansfield Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

5,204

20,947

Accruals and deferred income

1,130

1,280

Other creditors

894,573

894,572

900,907

916,799

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other non-current financial liabilities

995

995

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100