Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-31trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-09-01falseNo description of principal activity11true 11503272 2022-09-01 2023-08-31 11503272 2021-09-01 2022-08-31 11503272 2023-08-31 11503272 2022-08-31 11503272 c:Director1 2022-09-01 2023-08-31 11503272 d:FurnitureFittings 2022-09-01 2023-08-31 11503272 d:FurnitureFittings 2023-08-31 11503272 d:FurnitureFittings 2022-08-31 11503272 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 11503272 d:FreeholdInvestmentProperty 2023-08-31 11503272 d:FreeholdInvestmentProperty 2022-08-31 11503272 d:CurrentFinancialInstruments 2023-08-31 11503272 d:CurrentFinancialInstruments 2022-08-31 11503272 d:Non-currentFinancialInstruments 2023-08-31 11503272 d:Non-currentFinancialInstruments 2022-08-31 11503272 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 11503272 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 11503272 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 11503272 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 11503272 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-08-31 11503272 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-08-31 11503272 d:ShareCapital 2023-08-31 11503272 d:ShareCapital 2022-08-31 11503272 d:RetainedEarningsAccumulatedLosses 2023-08-31 11503272 d:RetainedEarningsAccumulatedLosses 2022-08-31 11503272 c:FRS102 2022-09-01 2023-08-31 11503272 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 11503272 c:FullAccounts 2022-09-01 2023-08-31 11503272 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 11503272 2 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 11503272










MHBF INVESTMENTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
MHBF INVESTMENTS LIMITED
REGISTERED NUMBER: 11503272

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,124
2,832

Investment property
 5 
660,000
660,000

  
662,124
662,832

Current assets
  

Debtors: amounts falling due within one year
 6 
533
280

Cash at bank and in hand
  
60,435
54,061

  
60,968
54,341

Creditors: amounts falling due within one year
 7 
(257,758)
(265,563)

Net current liabilities
  
 
 
(196,790)
 
 
(211,222)

Total assets less current liabilities
  
465,334
451,610

Creditors: amounts falling due after more than one year
 8 
(446,066)
(446,096)

  

Net assets
  
19,268
5,514


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
19,168
5,414

  
19,268
5,514


Page 1

 
MHBF INVESTMENTS LIMITED
REGISTERED NUMBER: 11503272
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 February 2024.






M P Finnegan
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
MHBF INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

MHBF Investments Limited, 11503272, is a private company limited by shares. It is incorporated in England & Wales. The registered office is Wey Court West, Union Road, Farnham, Surrey, GU9 7PT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
MHBF INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 4

 
MHBF INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 5

 
MHBF INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 September 2022
8,225



At 31 August 2023

8,225



Depreciation


At 1 September 2022
5,393


Charge for the year on owned assets
708



At 31 August 2023

6,101



Net book value



At 31 August 2023
2,124



At 31 August 2022
2,832


5.


Investment property


Freehold investment property

£



Valuation


At 1 September 2022
660,000



At 31 August 2023
660,000

The 2023 valuations were made by the director, on an open market value for existing use basis.







Page 6

 
MHBF INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

6.


Debtors

2023
2022
£
£


Prepayments and accrued income
533
280



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to other participating interests
253,623
253,624

Corporation tax
2,695
-

Accruals and deferred income
1,440
11,939

257,758
265,563



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
446,066
446,096


A fixed charge has been given to Charter Court Financial Services Limited on the property at 4 Fairbourne Way, Guildford.
During the year a fixed charge has been given to Paragon Bank Plc on the property at 20 Hawkswell Walk, Woking.


9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£




Amounts falling due after more than 5 years

Bank loans
446,066
446,096


 
Page 7