Company registration number 11524875 (England and Wales)
THE MAISON PARTNERSHIP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
THE MAISON PARTNERSHIP LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
THE MAISON PARTNERSHIP LIMITED (REGISTERED NUMBER: 11524875)
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
500,000
430,000
Current assets
Debtors
4
475
3,500
Cash at bank and in hand
42,705
75,282
43,180
78,782
Creditors: amounts falling due within one year
5
(326,534)
(282,969)
Net current liabilities
(283,354)
(204,187)
Total assets less current liabilities
216,646
225,813
Creditors: amounts falling due after more than one year
6
(188,295)
(191,325)
Provisions for liabilities
(1,520)
(2,686)
Net assets
26,831
31,802
Capital and reserves
Called up share capital
100
100
Non-distributable profits reserve
7
81,739
76,463
Distributable profit and loss reserves
(55,008)
(44,761)
Total equity
26,831
31,802
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
THE MAISON PARTNERSHIP LIMITED (REGISTERED NUMBER: 11524875)
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 12 September 2024 and are signed on its behalf by:
Mr P Butler
Director
THE MAISON PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information
The Maison Partnership Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19-21 Swan Street, West Malling, Kent, ME19 6JU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents rental income received during the period.
1.3
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
THE MAISON PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Investment property
2024
£
Fair value
At 1 May 2023
430,000
Additions
65,890
Revaluations
4,110
At 30 April 2024
500,000
Investment property comprises property at fair value of £500,000. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors best estimate. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
475
3,500
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
475
Other creditors
326,059
282,969
326,534
282,969
THE MAISON PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
128,295
131,325
Other creditors
60,000
60,000
188,295
191,325
The bank loans are secured against the properties in the company's name by way of a fixed and floating charge.
Amounts included above which fall due after five years are as follows:
Payable other than by instalments
128,295
131,325
7
Non-distributable profits reserve
2024
2023
£
£
At the beginning of the year
76,463
22,095
Non distributable profits in the year
5,276
54,368
At the end of the year
81,739
76,463