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REGISTERED NUMBER: 10575320 (England and Wales)















MPT8 LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024






MPT8 LIMITED (REGISTERED NUMBER: 10575320)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MPT8 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: B T Bailey





REGISTERED OFFICE: Gibson House
Hurricane Court
Hurricane Close
Stafford
ST16 1GZ





REGISTERED NUMBER: 10575320 (England and Wales)

MPT8 LIMITED (REGISTERED NUMBER: 10575320)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 964 595
Investment property 6 40,000 43,333
40,964 43,928

CURRENT ASSETS
Stocks 2,725 2,000
Debtors 7 13,274 24,806
Cash at bank - 2
15,999 26,808
CREDITORS
Amounts falling due within one year 8 (43,973 ) (47,115 )
NET CURRENT LIABILITIES (27,974 ) (20,307 )
TOTAL ASSETS LESS CURRENT LIABILITIES 12,990 23,621

CREDITORS
Amounts falling due after more than one
year

9

(19,167

)

(23,333

)
NET (LIABILITIES)/ASSETS (6,177 ) 288

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings (6,178 ) 287
SHAREHOLDERS' FUNDS (6,177 ) 288

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

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

MPT8 LIMITED (REGISTERED NUMBER: 10575320)

BALANCE SHEET - continued
31 JANUARY 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 Profit and 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:





B T Bailey - Director


MPT8 LIMITED (REGISTERED NUMBER: 10575320)

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


1. STATUTORY INFORMATION

MPT8 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Food and beverage sales
Turnover from the sale of food and beverages is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually at the point of sale.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Computer equipment - 25% on cost

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.

Investment property
Investment property relates to the purchase of the lease in the year ending 31 January 2021 The lease is being written off over 15 years in line with the terms of the lease commencing with the period ending 31 January 2022.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


MPT8 LIMITED (REGISTERED NUMBER: 10575320)

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


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 8 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 750
AMORTISATION
At 1 February 2023
and 31 January 2024 750
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

MPT8 LIMITED (REGISTERED NUMBER: 10575320)

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


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 3,959
Additions 975
At 31 January 2024 4,934
DEPRECIATION
At 1 February 2023 3,364
Charge for year 606
At 31 January 2024 3,970
NET BOOK VALUE
At 31 January 2024 964
At 31 January 2023 595

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 50,000
DEPRECIATION
At 1 February 2023 6,667
Charge for year 3,333
At 31 January 2024 10,000
NET BOOK VALUE
At 31 January 2024 40,000
At 31 January 2023 43,333

MPT8 LIMITED (REGISTERED NUMBER: 10575320)

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


6. INVESTMENT PROPERTY - continued

Fixed assets, included in the above, which are held under finance leases are as follows:
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 50,000
DEPRECIATION
At 1 February 2023 6,667
Charge for year 3,333
At 31 January 2024 10,000
NET BOOK VALUE
At 31 January 2024 40,000
At 31 January 2023 43,333

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,450 3,761
Other debtors 111 9,315
Directors' current accounts 8,678 9,947
Tax 58 59
Prepayments 1,977 1,724
13,274 24,806

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 16,565 19,372
Trade creditors 7,003 4,081
Social security and other taxes (2,269 ) 159
VAT 16,733 16,182
Other creditors 1,244 1,191
Accruals and deferred income 4,697 6,130
43,973 47,115

MPT8 LIMITED (REGISTERED NUMBER: 10575320)

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


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 9,167 13,333
19,167 23,333

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
B T Bailey
Balance outstanding at start of year 9,947 -
Amounts advanced - 9,947
Amounts repaid (1,269 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,678 9,947

The director's loan has been provided interest free and is repayable on demand.

12. FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £133,782 (2023: £144,000).