REGISTERED NUMBER: |
ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 MARCH 2023 |
FOR |
MISHELLIS PROPERTIES LIMITED |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
PROVISIONS FOR LIABILITIES | 7 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Fair value reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
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 |
Freehold property | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
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 |
5. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 31 March 2022 |
and 30 March 2023 |
AMORTISATION |
At 31 March 2022 |
and 30 March 2023 |
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 |
DEPRECIATION |
At 31 March 2022 |
Charge for year |
At 30 March 2023 |
NET BOOK VALUE |
At 30 March 2023 |
At 30 March 2022 |
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 |
Accelerated capital allowances |
decrease | (120 | ) |
Fair value gain decrease | (2,823 | ) |
Balance at 30 March 2023 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
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 |
Reclassification | 1,523 |
At 30 March 2023 |
10. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
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. |