MAT Property Limited 08727793 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of the management of real estate and storage. Digita Accounts Production Advanced 6.30.9574.0 true 08727793 2023-01-01 2023-12-31 08727793 2023-12-31 08727793 core:RetainedEarningsAccumulatedLosses 2023-12-31 08727793 core:ShareCapital 2023-12-31 08727793 core:CurrentFinancialInstruments 2023-12-31 08727793 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 08727793 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 08727793 bus:SmallEntities 2023-01-01 2023-12-31 08727793 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08727793 bus:FullAccounts 2023-01-01 2023-12-31 08727793 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08727793 bus:RegisteredOffice 2023-01-01 2023-12-31 08727793 bus:Director2 2023-01-01 2023-12-31 08727793 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08727793 countries:AllCountries 2023-01-01 2023-12-31 08727793 2022-12-31 08727793 2022-01-01 2022-12-31 08727793 2022-12-31 08727793 core:RetainedEarningsAccumulatedLosses 2022-12-31 08727793 core:ShareCapital 2022-12-31 08727793 core:CurrentFinancialInstruments 2022-12-31 08727793 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 08727793 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 08727793

MAT Property Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

MAT Property Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

MAT Property Limited

Company Information

Director

Mr M R Gros

Registered office

11c Oakmoore Court
Kingswood Road
Hampton Lovett
Droitwich
Worcs
WR9 0QH

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

MAT Property Limited

(Registration number: 08727793)
Balance Sheet as at 31 December 2023

Note

2023

2022

Fixed assets

 

Investment property

3

873,400

873,400

Current assets

 

Debtors

4

21,474

19,020

Cash at bank and in hand

 

7,197

3,457

 

28,671

22,477

Creditors: Amounts falling due within one year

5

(646,538)

(641,782)

Net current liabilities

 

(617,867)

(619,305)

Total assets less current liabilities

 

255,533

254,095

Creditors: Amounts falling due after more than one year

5

(250,000)

(250,000)

Net assets

 

5,533

4,095

Capital and reserves

 

Called up share capital

670

670

Retained earnings

4,863

3,425

Shareholders' funds

 

5,533

4,095

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 September 2024
 

.........................................
Mr M R Gros
Director

   
 

MAT Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

MAT Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

MAT Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

3

Investment properties

2023

At 1 January

873,400

At 31 December

873,400

There has been no valuation of investment property by an independent valuer.

4

Debtors

Current

2023

2022

Trade debtors

21,290

18,754

Prepayments

184

266

 

21,474

19,020

5

Creditors

Creditors: amounts falling due within one year

Note

2023

2022

Due within one year

 

Trade creditors

 

157

136

Amounts owed to related parties

626,866

626,866

Other creditors

 

19,515

14,780

 

646,538

641,782

Due after one year

 

Other non-current financial liabilities

 

250,000

250,000

Creditors: amounts falling due after more than one year

2023

2022

Due after one year

Other non-current financial liabilities

250,000

250,000