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REGISTERED NUMBER: 01010378 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

MISAN PROPERTIES LIMITED

MISAN PROPERTIES LIMITED (REGISTERED NUMBER: 01010378)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MISAN PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: M J Hatcher
Mrs. S Scantlebury
R Scantlebury





SECRETARY: R Scantlebury





REGISTERED OFFICE: Westgate House
87 St Dunstan's Street
Canterbury
Kent
CT2 8AE





REGISTERED NUMBER: 01010378 (England and Wales)





ACCOUNTANTS: Spain Brothers & Co
Chartered Accountants
Westgate House
87 St Dunstans Street
Canterbury
Kent
CT2 8AE

MISAN PROPERTIES LIMITED (REGISTERED NUMBER: 01010378)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,055,213 3,055,802

CURRENT ASSETS
Debtors 5 22,164 41,132
Cash at bank 499,068 370,935
521,232 412,067
CREDITORS
Amounts falling due within one year 6 120,919 111,264
NET CURRENT ASSETS 400,313 300,803
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,455,526

3,356,605

PROVISIONS FOR LIABILITIES 80,196 80,196
NET ASSETS 3,375,330 3,276,409

CAPITAL AND RESERVES
Called up share capital 7 1,900 1,900
Share premium 8 27,755 27,755
Revaluation reserve 8 1,379,840 1,379,840
Retained earnings 8 1,965,835 1,866,914
SHAREHOLDERS' FUNDS 9 3,375,330 3,276,409

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

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

MISAN PROPERTIES LIMITED (REGISTERED NUMBER: 01010378)

BALANCE SHEET - continued
31ST DECEMBER 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 6th August 2024 and were signed on its behalf by:




M J Hatcher - Director Mrs. S Scantlebury - Director




R Scantlebury - Director


MISAN PROPERTIES LIMITED (REGISTERED NUMBER: 01010378)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. STATUTORY INFORMATION

Misan Properties 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 (£).


The company's functional currency is the Pound Sterling (£).

The principal activity of the Company is property investment.

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.

Turnover
Turnover represents amounts invoiced net of Value Added Tax from Operating Leases and is recognised as the company's right to receive payment is established.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on tangible fixed assets at annual rates calculated to write off the cost of each
asset evenly over its expected useful life as follows:-

Furnishings 10% reducing balance method
Office Equipment 25% reducing balance method
Plant and Equipment 20% reducing balance method

Investment properties
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in the profit or loss account.

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.


MISAN PROPERTIES LIMITED (REGISTERED NUMBER: 01010378)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Investment Office
properties Furnishings Equipment Totals
£    £    £    £   
COST
At 1st January 2023
and 31st December 2023 3,054,101 1,270 2,424 3,057,795
DEPRECIATION
At 1st January 2023 - 1,158 835 1,993
Charge for year - 11 578 589
At 31st December 2023 - 1,169 1,413 2,582
NET BOOK VALUE
At 31st December 2023 3,054,101 101 1,011 3,055,213
At 31st December 2022 3,054,101 112 1,589 3,055,802

MISAN PROPERTIES LIMITED (REGISTERED NUMBER: 01010378)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31st December 2020 is represented by:
Totals
£
Valuation in 2002741,768
Valuation in 2005440,000
Valuation in 2015(720,326)
Valuation in 2017124,000
Valuation in 2018140,000
Valuation in 2019734,594
Cost1,594,065
3,054,101
The aggregate and carrying amounts if historical cost accounting rules had been used are as follows:

20232022
££

Freehold1,376,8741,376,874
Long leasehold217,191217,191
1,594,0651,594,065

Investment properties were valued by BTF Partnership in December 2022 using the "desk-top" assessment method. There was no change in the values arrived at compared to the previous valuation.
Investment Properties are all held for use in operating leases.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 759 20,315
Other debtors 3,149 3,149
Prepayments 18,256 17,668
22,164 41,132

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 5,121 4,951
Tax 34,976 28,305
Social security and other taxes 3,563 1,737
VAT 11,076 10,594
Rent Control Account 59,534 59,028
Tenants deposit 3,149 3,149
Accrued expenses 3,500 3,500
120,919 111,264

MISAN PROPERTIES LIMITED (REGISTERED NUMBER: 01010378)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary 10p 1,000 1,000
9,000 B Ordinary 10p 900 900
1,900 1,900

8. RESERVES
Retained Share Revaluation
earnings premium reserve Totals
£    £    £    £   

At 1st January 2023 1,866,914 27,755 1,379,840 3,274,509
Profit for the year 117,753 - - 117,753
Dividends (18,832 ) - - (18,832 )
At 31st December 2023 1,965,835 27,755 1,379,840 3,373,430

9. RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS
2023 2022
£    £   
Profit for the financial year 117,753 42,372
Dividends (18,832 ) (18,832 )
Net addition to shareholders' funds 98,921 23,540
Opening shareholders' funds 3,276,409 3,252,869
Closing shareholders' funds 3,375,330 3,276,409