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REGISTERED NUMBER: 12777534 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

M & T Property Development (Hereford)
Ltd

M & T Property Development (Hereford)
Ltd (Registered number: 12777534)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M & T Property Development (Hereford)
Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTORS: T H James
M D James





REGISTERED OFFICE: Suite 1 & 2
Marshall Business Centre
Faraday Road
Hereford
HR4 9NS





REGISTERED NUMBER: 12777534 (England and Wales)





ACCOUNTANTS: R J Francis & Co
Suites 1 & 2
Marshall Business Centre
Faraday Road
Hereford
Herefordshire
HR4 9NS

M & T Property Development (Hereford)
Ltd (Registered number: 12777534)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 257,699 95,984

CURRENT ASSETS
Debtors 5 638 500
Cash at bank and in hand 33,998 771
34,636 1,271
CREDITORS
Amounts falling due within one year 6 98,956 97,923
NET CURRENT LIABILITIES (64,320 ) (96,652 )
TOTAL ASSETS LESS CURRENT LIABILITIES 193,379 (668 )

CREDITORS
Amounts falling due after more than one year 7 (182,375 ) -

PROVISIONS FOR LIABILITIES (3,420 ) -
NET ASSETS/(LIABILITIES) 7,584 (668 )

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 14,580 -
Retained earnings (7,096 ) (768 )
7,584 (668 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

M & T Property Development (Hereford)
Ltd (Registered number: 12777534)

Balance Sheet - continued
31 July 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 27 August 2024 and were signed on its behalf by:





M D James - Director


M & T Property Development (Hereford)
Ltd (Registered number: 12777534)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

M & T Property Development (Hereford) 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 as modified by the revaluation of certain assets.

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.

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.

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.

M & T Property Development (Hereford)
Ltd (Registered number: 12777534)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022 95,984
Additions 143,715
Revaluations 18,000
At 31 July 2023 257,699
NET BOOK VALUE
At 31 July 2023 257,699
At 31 July 2022 95,984

The properties that had previously been included in freehold land and buildings have been reclassified as investment properties under FRS102.

The investment properties were valued on an open market basis on 31 July 2023 by the directors.

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2023 257,699

If the investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 239,699 95,984

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 638 500

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1 1
Other creditors 98,955 97,922
98,956 97,923

M & T Property Development (Hereford)
Ltd (Registered number: 12777534)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 182,375 -

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 75,768 -
Bank loans more 5 yrs non-inst 106,607 -
182,375 -

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 182,375 -

The bank loans are secured by a first legal charge over the investment properties.

9. RESERVES
Fair
value
reserve
£   
Fair value movement 14,580

At 31 July 2023 14,580