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REGISTERED NUMBER: 04345705 (England and Wales)














ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2023

FOR

MISHELLIS PROPERTIES LIMITED

MISHELLIS PROPERTIES LIMITED (REGISTERED NUMBER: 04345705)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


MISHELLIS PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 MARCH 2023







DIRECTOR: Mr Mishellis Michaels





REGISTERED OFFICE: Michael Filiou Ltd
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS





REGISTERED NUMBER: 04345705 (England and Wales)





ACCOUNTANTS: Michael Filiou Ltd
Chartered Certified Accountants
www.michaelfiliou.com
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS

MISHELLIS PROPERTIES LIMITED (REGISTERED NUMBER: 04345705)

ABRIDGED BALANCE SHEET
30 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 473,344 474,459
473,344 474,459

CURRENT ASSETS
Debtors 118,193 118,930
Cash at bank and in hand 7,290 8,019
125,483 126,949
CREDITORS
Amounts falling due within one year 198,733 71,721
NET CURRENT (LIABILITIES)/ASSETS (73,250 ) 55,228
TOTAL ASSETS LESS CURRENT
LIABILITIES

400,094

529,687

CREDITORS
Amounts falling due after more than one
year

-

(106,076

)

PROVISIONS FOR LIABILITIES 7 (34,734 ) (37,677 )
NET ASSETS 365,360 385,934

CAPITAL AND RESERVES
Called up share capital 8 99 99
Fair value reserve 9 149,586 148,063
Retained earnings 215,675 237,772
SHAREHOLDERS' FUNDS 365,360 385,934

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MISHELLIS PROPERTIES LIMITED (REGISTERED NUMBER: 04345705)

ABRIDGED BALANCE SHEET - continued
30 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 January 2024 and were signed by:





Mr Mishellis Michaels - Director


MISHELLIS PROPERTIES LIMITED (REGISTERED NUMBER: 04345705)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023


1. STATUTORY INFORMATION

Mishellis Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions.

Turnover
Turnover represents rent receivable from furnished lettings and fees receivable from the operation of a Care Home for young adults with learning disability.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on reducing balance

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.


MISHELLIS PROPERTIES LIMITED (REGISTERED NUMBER: 04345705)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2023


3. ACCOUNTING POLICIES - continued
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.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties.

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 10 ) .

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 31 March 2022
and 30 March 2023 220,000
AMORTISATION
At 31 March 2022
and 30 March 2023 220,000
NET BOOK VALUE

At 30 March 2023 -
At 30 March 2022 -

MISHELLIS PROPERTIES LIMITED (REGISTERED NUMBER: 04345705)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2023


6. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 31 March 2022
and 30 March 2023 538,804
DEPRECIATION
At 31 March 2022 64,345
Charge for year 1,115
At 30 March 2023 65,460
NET BOOK VALUE
At 30 March 2023 473,344
At 30 March 2022 474,459

Cost or valuation at 30 March 2023 is represented by:

Totals
£   
Valuation in 2015 152,202
Valuation in 2018 32,471
Cost 354,131
538,804

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 34,734 37,677

Deferred
tax
£   
Balance at 31 March 2022 37,677
Accelerated capital allowances
decrease (120 )
Fair value gain decrease (2,823 )
Balance at 30 March 2023 34,734

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
99 Ordinary £1 99 99

MISHELLIS PROPERTIES LIMITED (REGISTERED NUMBER: 04345705)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2023


9. RESERVES
Fair
value
reserve
£   
At 31 March 2022 148,063
Reclassification 1,523

At 30 March 2023 149,586

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr Mishellis Michaels.

The company is controlled by the director, Mr Mishellis Michaels, who holds 100% of the issued ordinary share capital of the parent company, Yellow Tuesday Ltd..

11. PARENT COMPANY

The parent company of Mishellis Properties Limited is Yellow Tuesday Ltd as it holds all the issued share capital of the company.