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REGISTERED NUMBER: 03650169 (England and Wales)















Massey Property Services Limited

Unaudited Financial Statements

for the Year Ended 31 March 2023






Massey Property Services Limited (Registered number: 03650169)

Contents of the Financial Statements
for the year ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Massey Property Services Limited

Company Information
for the year ended 31 March 2023







Directors: N J White
J Martin



Registered office: 1 Castle Square
Brighton
East Sussex
BN1 1EG



Registered number: 03650169 (England and Wales)



Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA



Bankers: National Westminster
PO Box 3243
161 Bow Road
London
E3 2SG

Massey Property Services Limited (Registered number: 03650169)

Balance Sheet
31 March 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 243 485

Current assets
Debtors 5 578,363 511,215
Cash at bank 131,660 94,846
710,023 606,061
Creditors
Amounts falling due within one year 6 490,217 500,228
Net current assets 219,806 105,833
Total assets less current liabilities 220,049 106,318

Capital and reserves
Called up share capital 7 420,456 420,456
Retained earnings 8 (200,407 ) (314,138 )
Shareholders' funds 220,049 106,318

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 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.

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 20 March 2024 and were signed on its behalf by:





N J White - Director


Massey Property Services Limited (Registered number: 03650169)

Notes to the Financial Statements
for the year ended 31 March 2023


1. Statutory information

Massey Property Services Limited 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.

Going concern

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

Turnover
Turnover comprises revenue recognised by the company in respect of rental income invoiced during the year, exclusive of Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Long leasehold - Straight line over the life of the lease
Fixtures and fittings - 20% on cost

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

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.

Operating leases
Rentals under operating leases are charged to the Income Statement on a straight line basis over the lease term.

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.

Massey Property Services Limited (Registered number: 03650169)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


3. Employees and directors

The average number of employees during the year was 4 (2022 - 4 ) .

4. Tangible fixed assets
Fixtures
Long and
leasehold fittings Totals
£ £ £
Cost
At 1 April 2022
and 31 March 2023 7,500 1,212 8,712
Depreciation
At 1 April 2022 7,500 727 8,227
Charge for year - 242 242
At 31 March 2023 7,500 969 8,469
Net book value
At 31 March 2023 - 243 243
At 31 March 2022 - 485 485

5. Debtors: amounts falling due within one year
2023 2022
£ £
Other debtors 578,363 511,215

6. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 1,139 -
Taxation and social security 18,973 15,168
Other creditors 470,105 485,060
490,217 500,228

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
349,056 Ordinary A shares £1 349,056 349,056
71,400 Ordinary B shares £1 71,400 71,400
420,456 420,456

8. Reserves
Retained
earnings
£

At 1 April 2022 (314,138 )
Profit for the year 113,731
At 31 March 2023 (200,407 )

Massey Property Services Limited (Registered number: 03650169)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


9. Related party transactions

Included in debtors at the balance sheet date is £103,919 (2022: £13,919 ) due from companies under common control.