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COMPANY REGISTRATION NUMBER: 10855930
MP ESTATE SOLUTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
31 July 2023
MP ESTATE SOLUTIONS LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2023
Contents
Pages
Officers and professional advisers 1
Director's report 2
Chartered accountants report to the director on the
preparation of the unaudited statutory financial statements 3
Profit and loss account 4
Balance sheet 5
Statement of change in shareholders funds 6
Notes to the financial statements 7 to 9
MP ESTATE SOLUTIONS LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
Director
Mr M Le Berre
Registered office
35 Westgate
Huddersfield
West Yorkshire
HD1 1PA
Accountants
Wheawill & Sudworth Limited
Chartered Accountants
35 Westgate
Huddersfield
West Yorkshire
HD1 1PA
Bankers
National Wesminster Bank plc
1 Upper Market Street
Hanley
Stoke-on-Trent
ST1 1NS
MP ESTATE SOLUTIONS LIMITED
DIRECTOR'S REPORT
YEAR ENDED 31 JULY 2023
The director presents his report and the unaudited financial statements of the company for the year ended 31 July 2023 .
Principal activities
The principal activity of the company continued to be that of residential property management.
Director
The director who served the company during the year was as follows:
Mr M Le Berre
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 14 March 2024 and signed on behalf of the board by:
Mr M Le Berre
Director
MP ESTATE SOLUTIONS LIMITED
CHARTERED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MP ESTATE SOLUTIONS LIMITED
YEAR ENDED 31 JULY 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MP Estate Solutions Limited for the year ended 31 July 2023, which comprise the profit and loss account, balance sheet, statement of change in shareholders funds and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of MP Estate Solutions Limited in accordance with the terms of our engagement letter dated 14 March 2024. Our work has been undertaken solely to prepare for your approval the financial statements of MP Estate Solutions Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MP Estate Solutions Limited and its director for our work or for this report.
It is your duty to ensure that MP Estate Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MP Estate Solutions Limited. You consider that MP Estate Solutions Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of MP Estate Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Wheawill & Sudworth Limited Chartered Accountants
35 Westgate Huddersfield West Yorkshire HD1 1PA
14 March 2024
MP ESTATE SOLUTIONS LIMITED
PROFIT AND LOSS ACCOUNT
YEAR ENDED 31 JULY 2023
2023
2022
Note
£
£
Turnover
5,999
6,342
------------
------------
Gross profit
5,999
6,342
Administrative expenses
( 1,329)
( 3,610)
------------
------------
Operating profit
4,670
2,732
Interest payable and similar expenses
4
( 2,623)
( 2,623)
------------
------------
Profit before taxation
2,047
109
Tax on profit
( 389)
( 179)
------------
------------
Profit/(loss) for the financial year and total comprehensive income
1,658
( 70)
------------
------------
All the activities of the company are from continuing operations.
MP ESTATE SOLUTIONS LIMITED
BALANCE SHEET
31 July 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
100,000
100,000
Current assets
Cash at bank and in hand
4,877
1,018
Creditors: amounts falling due within one year
6
( 21,419)
( 19,218)
------------
------------
Net current liabilities
( 16,542)
( 18,200)
------------
------------
Total assets less current liabilities
83,458
81,800
Creditors: amounts falling due after more than one year
7
( 65,737)
( 65,737)
------------
------------
Net assets
17,721
16,063
------------
------------
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
17,621
15,963
------------
------------
Shareholders funds
17,721
16,063
------------
------------
These financial statements have been prepared 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'.
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 14 March 2024 , and are signed on behalf of the board by:
Mr M Le Berre
Director
Company registration number: 10855930
MP ESTATE SOLUTIONS LIMITED
STATEMENT OF CHANGE IN SHAREHOLDERS FUNDS
YEAR ENDED 31 JULY 2023
Called up share capital
Profit and loss account
Total
£
£
£
At 1 August 2021
100
16,033
16,133
Loss for the year
( 70)
( 70)
------------
------------
------------
Total comprehensive income for the year
( 70)
( 70)
At 31 July 2022
100
15,963
16,063
Profit for the year
1,658
1,658
------------
------------
------------
Total comprehensive income for the year
1,658
1,658
------------
------------
------------
At 31 July 2023
100
17,621
17,721
------------
------------
------------
MP ESTATE SOLUTIONS 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, West Yorkshire, 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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents rents receivable during the year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. FRS102 requires that investment property whose fair value can be measured reliably without undue cost or effort and on an on-going basis be measured at fair value in accordance with section 16 of FRS 102. All other investment property is to be accounted for as property, plant and equipment in accordance with section 17 of FRS 102. The directors consider that to measure investment property held by the company at fair value on an on-going basis would involve undue cost and that to account for such properties as property, plant and equipment with depreciation applied would not correctly reflect the nature of property held in a good state of repair. Investment properties are therefore continued to be stated at cost.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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. Interest payable and similar expenses
2023
2022
£
£
Interest on banks loans and overdrafts
2,623
2,623
------------
------------
5. Tangible assets
Freehold investment property
£
Cost
At 1 August 2022 and 31 July 2023
100,000
------------
Depreciation
At 1 August 2022 and 31 July 2023
------------
Carrying amount
At 31 July 2023
100,000
------------
At 31 July 2022
100,000
------------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
480
480
Corporation tax
568
179
Director loan accounts
16,371
14,559
Other creditors
4,000
4,000
------------
------------
21,419
19,218
------------
------------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Mortgage
65,737
65,737
------------
------------
Included within creditors: amounts falling due after more than one year is an amount of £65,737 (2022: £65,737) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
8. Secured liabilities
2023
2022
£
£
Aggregate amount of secured liabilities
65,737
65,737
------------
------------
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
------------
------------
------------
------------
10. Related party transactions
The director's loan of £16,371 (2022: £14,559) set out above is unsecured, repayable on demand and currently interest free. Included in creditors is a loan due to a company controlled by the diirector in the amount of £4,000 (2022: £4,000). The loan is unsecured, repayable on demand and currently interst free. The company is controlled by the director.