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REGISTERED NUMBER: 08231217 (England and Wales)









Financial Statements

for the Year Ended 30 October 2023

for

Club MB Property Estates Limited

Club MB Property Estates Limited (Registered number: 08231217)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Club MB Property Estates Limited

Company Information
for the Year Ended 30 October 2023







DIRECTOR: M Burman





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 08231217 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

Club MB Property Estates Limited (Registered number: 08231217)

Statement of Financial Position
30 October 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment property 4 490,000 490,000

CURRENT ASSETS
Debtors 5 278,511 277,729
Cash at bank 6,238 30,200
284,749 307,929
CREDITORS
Amounts falling due within one year 6 (544,481 ) (592,225 )
NET CURRENT LIABILITIES (259,732 ) (284,296 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

230,268

205,704

PROVISIONS FOR LIABILITIES (25,052 ) (25,052 )
NET ASSETS 205,216 180,652

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 155,211 155,211
Retained earnings 8 49,905 25,341
SHAREHOLDERS' FUNDS 205,216 180,652

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

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 August 2024 and were signed by:





M Burman - Director


Club MB Property Estates Limited (Registered number: 08231217)

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

1. STATUTORY INFORMATION

Club MB Property Estates 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year/period, and also have been consistently applied within the same accounts.

Turnover
Turnover represents rents receivable, and interest received and related fees in respect of development loans advanced to the company's clients.

Investment property
The company's investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is recognised in the income statement. The director considers that this policy results in the accounts showing a true and fair view. Depreciation is only one of the factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified nor quantified.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

Club MB Property Estates Limited (Registered number: 08231217)

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 October 2022
and 30 October 2023 490,000
NET BOOK VALUE
At 30 October 2023 490,000
At 30 October 2022 490,000

In the opinion of the Director the company's investment property is valued in the accounts at a value not materially different to its market value.

Fair value at 30 October 2023 is represented by:
£   
Valuation in 2017 180,263
Cost 309,737
490,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 275,001 275,001
Other debtors 3,510 2,728
278,511 277,729

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 40,238
Amounts owed to group undertakings 527,419 538,412
Taxation and social security 12,022 8,535
Other creditors 5,040 5,040
544,481 592,225

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 40,238

The bank loan was secured by a debenture over the company's investment property and other assets.It was repaid in full after date.

Club MB Property Estates Limited (Registered number: 08231217)

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

8. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 31 October 2022 25,341 155,211 180,552
Profit for the year 24,564 24,564
At 30 October 2023 49,905 155,211 205,116

The fair value reserve is represented by the investment property revaluation, net of a deferred tax provision.