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REGISTERED NUMBER: 10931384 (England and Wales)

















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

MM2 INVESTMENTS LTD

MM2 INVESTMENTS LTD (REGISTERED NUMBER: 10931384)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Report of the Accountants 2

Statement of Financial Position 3

Notes to the Financial Statements 5


MM2 INVESTMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: M Mehta





REGISTERED OFFICE: 505 Pinner Road
Harrow
Middlesex
HA2 6EH





REGISTERED NUMBER: 10931384 (England and Wales)





ACCOUNTANTS: STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH

MM2 INVESTMENTS LTD

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
MM2 INVESTMENTS LTD


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 March 2023 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH


21 February 2024

MM2 INVESTMENTS LTD (REGISTERED NUMBER: 10931384)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,041,458 1,041,458

CURRENT ASSETS
Debtors 5 928 1
Cash at bank 58 1,594
986 1,595
CREDITORS
Amounts falling due within one year 6 293,565 293,018
NET CURRENT LIABILITIES (292,579 ) (291,423 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

748,879

750,035

CREDITORS
Amounts falling due after more than one year 7 (659,384 ) (668,430 )

PROVISIONS FOR LIABILITIES 9 (19,276 ) (19,276 )
NET ASSETS 70,219 62,329

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 11 70,218 62,328
SHAREHOLDERS' FUNDS 70,219 62,329

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

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

MM2 INVESTMENTS LTD (REGISTERED NUMBER: 10931384)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2023


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 director and authorised for issue on 21 February 2024 and were signed by:





M Mehta - Director


MM2 INVESTMENTS LTD (REGISTERED NUMBER: 10931384)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

MM2 Investments 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rent receivable, net of value added tax.

Turnover is recognised when the company has a right to consideration.

Investment property
Investment property whose fair value can be measured reliably without undue cost or effort shall be measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

MM2 INVESTMENTS LTD (REGISTERED NUMBER: 10931384)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 1,041,458
NET BOOK VALUE
At 31 March 2023 1,041,458
At 31 March 2022 1,041,458

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2019 121,580
Cost 919,878
1,041,458

In the opinion of the director the fair value of the investment properties as at 31 March 2023 is not significantly different to that stated above.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1 1
Prepayments 927 -
928 1

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,000 9,000
Amounts owed to connected companies 255,654 260,234
Other creditors 2,500 3,300
Directors' current accounts 19,465 -
Accrued expenses 6,946 20,484
293,565 293,018

MM2 INVESTMENTS LTD (REGISTERED NUMBER: 10931384)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 9,000 9,000
Bank loans - 2-5 years 18,000 18,000
Bank loans more 5 yr by instal 632,384 641,430
659,384 668,430

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 632,384 641,430

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 668,384 677,430

The bank loan is secured by a fixed and floating charge over the investment properties of the company, The rate of interest charged at 3.99% above LIBOR giving a rate of £4.54% per annum. The loan is repayable over 10 years.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 19,276 19,276

Deferred
tax
£   
Balance at 1 April 2022 19,276
Movement
Balance at 31 March 2023 19,276

10. CALLED UP SHARE CAPITAL

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

MM2 INVESTMENTS LTD (REGISTERED NUMBER: 10931384)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


11. RESERVES
Retained
earnings
£   

At 1 April 2022 62,328
Profit for the year 7,890
At 31 March 2023 70,218

Retained earnings includes undistributable profit and loss reserve of £102,304 (2022 : £102,304) relating to revaluation of investment properties.

12. RELATED PARTY DISCLOSURES

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 with wholly owned subsidiaries within the group.

At the period end the company owed £179,817 (2022: £94,850) to Emperor Development (Group) Limited, a company in which the director has material interest. The amount owed is interest free and repayable on demand.

At the period end the company owed £74,587 (2022: £80,417) to Sterling Rose Developments Limited, a company in which the director has material interest. The amount owed is interest free and repayable on demand.

At the period end the company owed £700 (2022: £Nil) to 283 High Street, a company in which the director has material interest. The amount owed is interest free and repayable on demand.

At the period end the company owed £500 (2022: £Nil) to MM6 Investments Limited, a company in which the director has material interest. The amount owed is interest free and repayable on demand.

At the period end the company owed £50 (2022: £Nil) to MM1 Investments Limited, a company in which the director has material interest. The amount owed is interest free and repayable on demand.

13. ULTIMATE CONTROLLING PARTY

The company is a subsidiary of Emperor Property (Group) Limited, a company registered in England and Wales.

The director is the ultimate controller by virtue of their shareholding in Emperor Property (Group) Limited.