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MTB Lettings Limited

Unaudited Financial Statements

for the Year Ended

30 November 2023






MTB Lettings Limited (Registered number: 13733876)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MTB Lettings Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: M T Bryant





REGISTERED OFFICE: 91 Lakewood Road
Chandlers Ford
Eastleigh
Hampshire
SO53 5AD





REGISTERED NUMBER: 13733876 (England and Wales)





ACCOUNTANTS: David Tilsley Limited
91 Lakewood Road
Chandlers Ford
Eastleigh
Hampshire
SO53 5AD

MTB Lettings Limited (Registered number: 13733876)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 660,418 379,680

CURRENT ASSETS
Debtors 5 863 127,246
Cash at bank 8,236 6,029
9,099 133,275
CREDITORS
Amounts falling due within one year 6 323,802 276,058
NET CURRENT LIABILITIES (314,703 ) (142,783 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

345,715

236,897

CREDITORS
Amounts falling due after more than one year 7 (349,581 ) (245,191 )

PROVISIONS FOR LIABILITIES (211 ) (127 )
NET LIABILITIES (4,077 ) (8,421 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (4,177 ) (8,521 )
SHAREHOLDERS' FUNDS (4,077 ) (8,421 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

MTB Lettings Limited (Registered number: 13733876)

Balance Sheet - continued
30 November 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 24 July 2024 and were signed by:





M T Bryant - Director


MTB Lettings Limited (Registered number: 13733876)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

MTB Lettings 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 25% on cost

The freehold & long leasehold properties are not depreciated but will be subject to impairment reviews should the market value of the properties be materially lower than the carrying value at cost.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

MTB Lettings Limited (Registered number: 13733876)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2022 377,027 3,538 380,565
Additions 281,159 884 282,043
Disposals - (400 ) (400 )
At 30 November 2023 658,186 4,022 662,208
DEPRECIATION
At 1 December 2022 - 885 885
Charge for year - 1,005 1,005
Eliminated on disposal - (100 ) (100 )
At 30 November 2023 - 1,790 1,790
NET BOOK VALUE
At 30 November 2023 658,186 2,232 660,418
At 30 November 2022 377,027 2,653 379,680

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 30 -
Other debtors 833 127,246
863 127,246

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 7,713 6,286
Trade creditors 21 17
Other creditors 316,068 269,755
323,802 276,058

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans 349,581 245,191

Amounts falling due in more than five years:

Repayable by instalments
Mortgage loans 318,730 220,047

MTB Lettings Limited (Registered number: 13733876)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Property Mortgages 397,294 251,477

The property mortgages are secured on the freehold and long leasehold properties to which they relate.