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REGISTERED NUMBER: 13783248 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

MPJ Properties Limited

MPJ Properties Limited (Registered number: 13783248)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


MPJ Properties Limited

COMPANY INFORMATION
for the year ended 31 December 2023







Director: M P Jones





Registered office: Abacus House
129 North Hill
Plymouth
Devon
PL4 8JY





Business address: 10 Little Ash Road
St Budeaux
Plymouth
Devon
PL5 1JT





Registered number: 13783248 (England and Wales)





Accountants: Nigel Webster & Co
129 North Hill
Plymouth
Devon
PL4 8JY

MPJ Properties Limited (Registered number: 13783248)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 - -
Investment property 5 187,000 182,000
187,000 182,000

Current assets
Debtors 6 207 153
Cash at bank 53 18,935
260 19,088
Creditors
Amounts falling due within one year 7 58,914 70,734
Net current liabilities (58,654 ) (51,646 )
Total assets less current liabilities 128,346 130,354

Creditors
Amounts falling due after more than
one year

8

(124,864

)

(124,873

)

Provisions for liabilities 10 (2,600 ) (1,700 )
Net assets 882 3,781

Capital and reserves
Called up share capital 11 100 100
Revaluation reserve 12 11,325 7,225
Retained earnings (10,543 ) (3,544 )
Shareholders' funds 882 3,781

MPJ Properties Limited (Registered number: 13783248)

BALANCE SHEET - continued
31 December 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 September 2024 and were signed by:





M P Jones - Director


MPJ Properties Limited (Registered number: 13783248)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

MPJ Properties Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, registered office address and business 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 represents revenue earned from rents receivable for the period.

Rents receivable represents amounts received in the year adjusted for any amounts in advance/arrears at the balance sheet date.

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 Profit & Loss Account, 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.

MPJ Properties Limited (Registered number: 13783248)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS

The company has no tangible fixed assets.

5. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 January 2023 182,000
Revaluations 5,000
At 31 December 2023 187,000
Net book value
At 31 December 2023 187,000
At 31 December 2022 182,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2022 8,926
Valuation in 2023 5,000
Cost 173,074
187,000

MPJ Properties Limited (Registered number: 13783248)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 207 153

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 58,914 70,734

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 124,864 124,873

These amounts relate to mortgage repayments all due after 5 years.

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 124,864 124,873

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 2,600 1,700

Deferred
tax
£   
Balance at 1 January 2023 1,700
Provided during year 900
Balance at 31 December 2023 2,600

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

MPJ Properties Limited (Registered number: 13783248)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

12. RESERVES
Revaluation
reserve
£   
At 1 January 2023 7,225
Transfer to revaluation
reserve 4,100

At 31 December 2023 11,325

13. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £58,285 to the director, M P Jones.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M P Jones.