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REGISTERED NUMBER: 10534349 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

M A E REAL ESTATE LIMITED

M A E REAL ESTATE LIMITED (REGISTERED NUMBER: 10534349)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M A E REAL ESTATE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 March 2024







DIRECTOR: M A Economides





REGISTERED OFFICE: 12 Gateway Mews
Ring Way
London
N11 2UT





REGISTERED NUMBER: 10534349 (England and Wales)





ACCOUNTANTS: G. George Associates Limited
Chartered Certified Accountants
12 Gateway Mews
Ring Way
London
N11 2UT

M A E REAL ESTATE LIMITED (REGISTERED NUMBER: 10534349)

BALANCE SHEET
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 285 380
Investment property 5 550,000 550,000
550,285 550,380

CURRENT ASSETS
Debtors 6 - 956
Cash at bank 11,735 6,277
11,735 7,233
CREDITORS
Amounts falling due within one year 7 1,823 1,798
NET CURRENT ASSETS 9,912 5,435
TOTAL ASSETS LESS CURRENT
LIABILITIES

560,197

555,815

CREDITORS
Amounts falling due after more than one
year

8

535,050

536,302
NET ASSETS 25,147 19,513

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 14,766 14,766
Retained earnings 10,281 4,647
25,147 19,513

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

M A E REAL ESTATE LIMITED (REGISTERED NUMBER: 10534349)

BALANCE SHEET - continued
31 March 2024


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 director and authorised for issue on 19 September 2024 and were signed by:





M A Economides - Director


M A E REAL ESTATE LIMITED (REGISTERED NUMBER: 10534349)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 March 2024

1. STATUTORY INFORMATION

M A E REAL ESTATE 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.

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 net invoiced rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

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.

Deferred taxation is provided on such surplus or deficit at the rate expected to apply when the property is sold.

The fair value profits on investment property is not a realized profit available for distribution. In order to differentiate the non-distributable profits with the distributable profits of the company, any fair value movements on investment property less the deferred tax on such movements is transferred from retained earnings to fair value reserves, which is a non-distributable reserve.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

M A E REAL ESTATE LIMITED (REGISTERED NUMBER: 10534349)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 1,652
DEPRECIATION
At 1 April 2023 1,272
Charge for year 95
At 31 March 2024 1,367
NET BOOK VALUE
At 31 March 2024 285
At 31 March 2023 380

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 550,000
NET BOOK VALUE
At 31 March 2024 550,000
At 31 March 2023 550,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2020 14,766
Cost 535,234
550,000

Investment property was valued on an open market basis on 31/03/2024 by the directors.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors - 956

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Taxation and social security 1,344 131
Other creditors 479 1,667
1,823 1,798

M A E REAL ESTATE LIMITED (REGISTERED NUMBER: 10534349)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 312,045 312,045
Other creditors 223,005 224,257
535,050 536,302

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 312,045 312,045

10. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 14,766