Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31The company's principal activity is that of property investments.false2023-02-0133truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08862172 2023-02-01 2024-01-31 08862172 2022-02-01 2023-01-31 08862172 2024-01-31 08862172 2023-01-31 08862172 2022-02-01 08862172 c:CompanySecretary1 2023-02-01 2024-01-31 08862172 c:Director1 2023-02-01 2024-01-31 08862172 c:Director2 2023-02-01 2024-01-31 08862172 c:Director3 2023-02-01 2024-01-31 08862172 c:RegisteredOffice 2023-02-01 2024-01-31 08862172 d:FurnitureFittings 2023-02-01 2024-01-31 08862172 d:FurnitureFittings 2024-01-31 08862172 d:FurnitureFittings 2023-01-31 08862172 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 08862172 d:OfficeEquipment 2023-02-01 2024-01-31 08862172 d:OfficeEquipment 2024-01-31 08862172 d:OfficeEquipment 2023-01-31 08862172 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 08862172 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 08862172 d:FreeholdInvestmentProperty 2023-02-01 2024-01-31 08862172 d:FreeholdInvestmentProperty 2024-01-31 08862172 d:FreeholdInvestmentProperty 2023-01-31 08862172 d:CurrentFinancialInstruments 2024-01-31 08862172 d:CurrentFinancialInstruments 2023-01-31 08862172 d:Non-currentFinancialInstruments 2024-01-31 08862172 d:Non-currentFinancialInstruments 2023-01-31 08862172 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 08862172 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 08862172 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 08862172 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 08862172 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-01-31 08862172 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 08862172 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 08862172 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 08862172 d:ShareCapital 2024-01-31 08862172 d:ShareCapital 2023-01-31 08862172 d:ShareCapital 2022-02-01 08862172 d:RevaluationReserve 2023-02-01 2024-01-31 08862172 d:RevaluationReserve 2024-01-31 08862172 d:RevaluationReserve 2023-01-31 08862172 d:RevaluationReserve 2022-02-01 08862172 d:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 08862172 d:RetainedEarningsAccumulatedLosses 2024-01-31 08862172 d:RetainedEarningsAccumulatedLosses 2022-02-01 2023-01-31 08862172 d:RetainedEarningsAccumulatedLosses 2023-01-31 08862172 d:RetainedEarningsAccumulatedLosses 2022-02-01 08862172 c:FRS102 2023-02-01 2024-01-31 08862172 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 08862172 c:FullAccounts 2023-02-01 2024-01-31 08862172 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08862172 2 2023-02-01 2024-01-31 08862172 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 08862172










MRJP INVESTMENTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
MRJP INVESTMENTS LIMITED
 
 
COMPANY INFORMATION


Directors
Dr M Mali 
Dr P Pandya 
Dr J P Patel 




Company secretary
Dr J P Patel



Registered number
08862172



Registered office
27 Fairby Lane

Hartley

Kent

DA3 8DA




Accountants
MHA
Chartered Accountants

Victoria Court

17-21 Ashford Road

Maidstone

Kent

ME14 5DA





 
MRJP INVESTMENTS LIMITED
REGISTERED NUMBER: 08862172

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
23,112
27,190

Investment property
 6 
5,454,945
5,450,000

  
5,478,057
5,477,190

Current assets
  

Debtors: amounts falling due within one year
 7 
2,509
13,914

Cash at bank and in hand
  
267,020
148,484

  
269,529
162,398

Creditors: amounts falling due within one year
 8 
(694,502)
(685,613)

Net current liabilities
  
 
 
(424,973)
 
 
(523,215)

Total assets less current liabilities
  
5,053,084
4,953,975

Creditors: amounts falling due after more than one year
 9 
(3,296,702)
(3,305,670)

Provisions for liabilities
  

Deferred tax
  
(449,564)
(423,386)

  
 
 
(449,564)
 
 
(423,386)

Net assets
  
1,306,818
1,224,919


Capital and reserves
  

Called up share capital 
  
120
120

Revaluation reserve
 11 
872,742
872,742

Profit and loss account
 11 
433,956
352,057

  
1,306,818
1,224,919


Page 1

 
MRJP INVESTMENTS LIMITED
REGISTERED NUMBER: 08862172
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider 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 directors acknowledge their 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 comprehensive income 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 by: 


Dr M Mali
Director

Date: 11 July 2024

The notes on pages 4 to 11 form part of these financial statements.

Page 2

 
MRJP INVESTMENTS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 February 2022
120
872,742
417,484
1,290,346



Loss for the year
-
-
(65,427)
(65,427)



At 1 February 2023
120
872,742
352,057
1,224,919



Profit for the year
-
-
81,899
81,899


At 31 January 2024
120
872,742
433,956
1,306,818


The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
MRJP INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

MRJP Investments 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

 
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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have assessed that there are no significant doubts in the company's ability to continue as a going concern. 
As a result, the financial statements have been prepared on a going concern basis. 

 
2.3

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.

 
2.4

Interest income

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

Page 4

 
MRJP INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Borrowing costs

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

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 balance sheet 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 balance sheet 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 balance sheet date.

 
2.8

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.

Page 5

 
MRJP INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as set out below.

Depreciation is provided on the following basis:

Fixtures and fittings
-
15%
on reducing balance
Office equipment
-
33%
on cost

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.

 
2.9

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.

 
2.10

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.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

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.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
MRJP INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.14

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.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

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.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

There are no key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements.


4.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 7

 
MRJP INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 February 2023
61,632
6,701
68,333



At 31 January 2024

61,632
6,701
68,333



Depreciation


At 1 February 2023
34,442
6,701
41,143


Charge for the year on owned assets
4,078
-
4,078



At 31 January 2024

38,520
6,701
45,221



Net book value



At 31 January 2024
23,112
-
23,112



At 31 January 2023
27,190
-
27,190

Page 8

 
MRJP INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 February 2023
5,450,000


Additions at cost
4,945



At 31 January 2024
5,454,945


Comprising


Cost
4,365,758

Annual revaluation surplus/(deficit):
Annual revaluation surplus/(deficit):

2018
1,139,187

2020
(50,000)

At 31 January 2024
5,454,945

The 2024 valuations were made by Fleurets, on an open market value for existing use basis.





7.


Debtors

2024
2023
£
£


Other debtors
2,509
13,914

2,509
13,914



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other taxation and social security
17,016
17,327

Other creditors
609,356
609,356

Accruals and deferred income
68,130
58,930

694,502
685,613


Page 9

 
MRJP INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
3,296,702
3,305,670

3,296,702
3,305,670



10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£


Amounts falling due 1-2 years

Bank loans
3,270,000
-

Amounts falling due 2-5 years

Bank loans
26,702
3,305,670


3,296,702
3,305,670


The company has received a secured loan from AIB by way of a fixed charge over the investment property.
The company has received an unsecured loan under the UK Government Bounce Back Loan Scheme, which has the financial backing of the Secretary of State for Business, Energy and Industrial Strategy. Interest charged for the first twelve months of the year were covered by the UK Government.


11.


Reserves

Revaluation reserve

The revaluation reserve represents the uplift on revaluation of the company's Investment Property, net of taxation.

Profit and loss account

The profit and loss account reserve represents accumulated historic profits and losses available for distribution.

Page 10

 
MRJP INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

12.


Related party transactions

The directors of the company are owed the following amounts as a result of loans made to the company for working capital. These amounts are interest free and repayable on demand, but will only be repaid if there is sufficient working capital within the company.
Dr J P Patel is owed £23,500 (2023 - £23,500).
Dr P Pandya is owed £8,239 (2023 - £8,239), and Krushi Enterprise Ltd. of which Dr Pandya is a director, is owed £92,000 (2023 - £92,000).
Dr M Mali is owed £77,117 (2023 - £77,177), and M Mali Ltd. of which Dr Mali is a director, is owed £24,000 (2023 - £24,000).

 
Page 11