0 false false false false false false false false false true false false false false false false No description of principal activity 2022-05-26 Sage Accounts Production Advanced 2021 - FRS102_2021 843,997 6,003 850,000 850,000 xbrli:pure xbrli:shares iso4217:GBP 14133762 2022-05-26 2023-05-31 14133762 2023-05-31 14133762 bus:Director1 2022-05-26 2023-05-31 14133762 core:LandBuildings 2022-05-26 2023-05-31 14133762 core:AfterOneYear 2023-05-31 14133762 core:WithinOneYear 2023-05-31 14133762 core:ShareCapital 2023-05-31 14133762 core:RetainedEarningsAccumulatedLosses 2023-05-31 14133762 core:LandBuildings 2023-05-31 14133762 bus:SmallEntities 2022-05-26 2023-05-31 14133762 bus:AuditExempt-NoAccountantsReport 2022-05-26 2023-05-31 14133762 bus:FullAccounts 2022-05-26 2023-05-31 14133762 bus:SmallCompaniesRegimeForAccounts 2022-05-26 2023-05-31 14133762 bus:PrivateLimitedCompanyLtd 2022-05-26 2023-05-31
COMPANY REGISTRATION NUMBER: 14133762
Mobren Properties Ltd
Filleted Unaudited Financial Statements
31 May 2023
Mobren Properties Ltd
Balance Sheet
31 May 2023
31 May 23
Note
£
£
Fixed assets
Tangible assets
4
850,000
Current assets
Debtors
5
7,128
Cash at bank and in hand
8,232
---------
15,360
Creditors: amounts falling due within one year
6
( 347,942)
----------
Net current liabilities
( 332,582)
----------
Total assets less current liabilities
517,418
Creditors: amounts falling due after more than one year
7
( 508,789)
----------
Net assets
8,629
----------
Capital and reserves
Called up share capital
100
Profit and loss account
8,529
-------
Shareholders funds
8,629
-------
These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the period ending 31 May 2023 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 financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Mobren Properties Ltd
Balance Sheet (continued)
31 May 2023
These financial statements were approved by the board of directors and authorised for issue on 11 March 2024 , and are signed on behalf of the board by:
Mrs E L Mozes
Director
Company registration number: 14133762
Mobren Properties Ltd
Notes to the Financial Statements
Period from 26 May 2022 to 31 May 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 New Burlington House, 1075 Finchley Road, London, NW11 0PU.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represent income receivable from property in the United Kingdom for the period.
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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Investment property
Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost and subsequently at fair value. Any gains or losses arising from changes in the fair value are recognised in the profit and loss account in the period that they arise. Investment property fair value is determined by the Directors based on their understanding of property market conditions and the specific property concerned, using a sales valuation approach, derived from recent comparable transactions on the market, adjusted by applying discounts to reflect status of occupation and condition. Acquisitions and disposals of properties Acquisitions and disposals are considered to have taken place at the date of legal completion and are included in the financial statements accordingly.
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. Tangible assets
Investment property
£
Fair value
At 26 May 2022
Additions
843,997
Revaluations
6,003
----------
At 31 May 2023
850,000
----------
Carrying amount
At 31 May 2023
850,000
----------
The historical cost of investment property is £843,997.
5. Debtors
31 May 23
£
Other debtors
7,128
-------
6. Creditors: amounts falling due within one year
31 May 23
£
Trade creditors
2,350
Corporation tax
592
Other creditors
345,000
----------
347,942
----------
7. Creditors: amounts falling due after more than one year
31 May 23
£
Bank loans and overdrafts
508,789
----------
8. Related party transactions
Other creditors relates to an amount outstanding to Manorchart Limited, a company incorporated in England and Wales of which the directors are connected to the directors of this company. The loan is interest free and repayable on demand.