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REGISTERED NUMBER: 12278686 (England and Wales)
















Unaudited Financial Statements

for the Year Ended 31st October 2023

for

MN Engineering Developments Ltd

MN Engineering Developments Ltd (Registered number: 12278686)






Contents of the Financial Statements
for the Year Ended 31st October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MN Engineering Developments Ltd

Company Information
for the Year Ended 31st October 2023







DIRECTORS: M Roberts
N Stevenson





REGISTERED OFFICE: Maple House
192-198 London Road
Burgess Hill
West Sussex
RH15 9RD





REGISTERED NUMBER: 12278686 (England and Wales)





ACCOUNTANTS: Sigma Partners
Delmon House
36-38 Church Road
Burgess Hill
West Sussex
RH15 9AE

MN Engineering Developments Ltd (Registered number: 12278686)

Balance Sheet
31st October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,000 5,000
Investment property 5 433,391 433,391
438,391 438,391

CURRENT ASSETS
Debtors 6 14,570 1,281
Cash at bank 100,142 133,224
114,712 134,505
CREDITORS
Amounts falling due within one year 7 301,585 302,760
NET CURRENT LIABILITIES (186,873 ) (168,255 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

251,518

270,136

CREDITORS
Amounts falling due after more than one
year

8

276,788

276,790
NET LIABILITIES (25,270 ) (6,654 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (25,272 ) (6,656 )
(25,270 ) (6,654 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

MN Engineering Developments Ltd (Registered number: 12278686)

Balance Sheet - continued
31st October 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 Board of Directors and authorised for issue on 12th March 2024 and were signed on its behalf by:




M Roberts - Director



N Stevenson - Director


MN Engineering Developments Ltd (Registered number: 12278686)

Notes to the Financial Statements
for the Year Ended 31st October 2023

1. STATUTORY INFORMATION

MN Engineering Developments 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Cryptocurrency
The investment in cryptocurrency is stated at original cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is 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 balance sheet date.

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.

MN Engineering Developments Ltd (Registered number: 12278686)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2023

2. ACCOUNTING POLICIES - continued

Going concern
The company is dependant upon the support of associated companies controlled by the directors in the form of a long term interest free loan. The directors have confirmed that the loan arrangement will stay in place for the foreseeable future and therefore the accounts have been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st November 2022
and 31st October 2023 5,000
NET BOOK VALUE
At 31st October 2023 5,000
At 31st October 2022 5,000

Intangible fixed assets represents an investment in Bitcoin.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st November 2022
and 31st October 2023 433,391
NET BOOK VALUE
At 31st October 2023 433,391
At 31st October 2022 433,391

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 14,570 1,281

MN Engineering Developments Ltd (Registered number: 12278686)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 301,585 302,760

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 276,788 276,790

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 276,788 276,790

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mortgage 276,788 276,790

10. RELATED PARTY DISCLOSURES

The company has received an interest free loan from GTA Civils Limited, a company in which M Roberts and N Stevenson are directors and majority shareholders.