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Registration number: 3728530

MWL Property Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

(filleted for filing purposes)

 

MWL Property Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

MWL Property Limited

Company Information

Director

Mr Mark Langley

Registered office

11 Lower Road
Temple Ewell
Dover
Kent
CT16 3DX

 

MWL Property Limited

(Registration number: 3728530)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

12

12

Current assets

 

Stocks

5

177,646

166,319

Debtors

6

2,273

959

Cash at bank and in hand

 

11,991

29,711

 

191,910

196,989

Creditors: Amounts falling due within one year

7

(112,773)

(115,345)

Net current assets

 

79,137

81,644

Net assets

 

79,149

81,656

Capital and reserves

 

Called up share capital

8

153

153

Retained earnings

78,996

81,503

Shareholders' funds

 

79,149

81,656

For the financial year ending 31 March 2024 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 11 October 2024
 

.........................................
Mr Mark Langley
Director

 

MWL Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
11 Lower Road
Temple Ewell
Dover
Kent
CT16 3DX

These financial statements were authorised for issue by the director on 11 October 2024.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Tax

The tax expense for the period comprises deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

MWL Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Investments

2024
£

2023
£

Investments in subsidiaries

12

12

5

Stocks

2024
£

2023
£

Work in progress

177,646

166,319

 

MWL Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Debtors

Current

2024
£

2023
£

Other debtors

2,273

959

 

2,273

959

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

-

50,000

Other related parties

9

112,223

64,845

Other creditors

 

550

500

 

112,773

115,345

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary share capital of £1 each

153

153

153

153

         
 

MWL Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Related party transactions

Loans from related parties

2024

Key management
£

Total
£

At start of period

64,845

64,845

Advanced

47,378

47,378

At end of period

112,223

112,223

2023

Key management
£

Total
£

At start of period

62,099

62,099

Advanced

2,746

2,746

At end of period

64,845

64,845