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REGISTERED NUMBER: 03117531 (England and Wales)















MNM Property Services Limited

Strategic Report, Report of the Directors and

Audited Financial Statements for the Year Ended 31 March 2024






MNM Property Services Limited (Registered number: 03117531)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 16


MNM Property Services Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr N Nicolas
Mr M P O'Sullivan
Mrs H Nicolas
Mrs M O'Sullivan
Mr G Panteli
Mr J Langshaw


SECRETARY: Mr N Nicolas


REGISTERED OFFICE: 97 Judd Street
London
WC1H 9JG


REGISTERED NUMBER: 03117531 (England and Wales)


SENIOR STATUTORY
AUDITOR:
Chris Syrimis


AUDITORS: Chris Syrimis & Co
Chartered Certified Accountants and
Statutory Auditors
97 Judd Street
London
WC1H 9JG


BANKERS: HSBC
50-52 Kilburn High Road
Kilburn
London
NW6 4HJ

MNM Property Services Limited (Registered number: 03117531)

Strategic Report
for the Year Ended 31 March 2024

The directors present their strategic report for the year ended 31st March 2024.

Review of business

During the year, the company's activities as a provider of essential property maintenance services remained unchanged and continued to offer it's services to a number of London local authorities, private landlords and various Housing Associations.
The profit for the year after taxation as set out on page 9 amounted to £475,971 (2023- £99,636).
As at 31st March 2024 the cash and net assets were strong. £556,425 (2023- £467,454).
The directors consider the results and the position at the year end to be satisfactory with a significant improvement over the previous year.

Key performance indicators

The turnover for the year remained at similar level as with the previous year and the directors expect that to grow in the current year.
Employment and materials cost has been significantly reduced which are the main drivers to the increase in profitability.

Principal risks and uncertainties

The company continues to plan to mitigate risks inherent in the business arising from normal trading and the current economic climate and health and safety issues.
The risks facing the business are assessed on an ongoing basis. The directors evaluate the likelihood and potential impact of risks and ensure appropriate action is taken to mitigate them. The key risk and mitigating factors are the market risk.
The market is very competitive. The company competes with several competitors of varying size in areas including price, range, quality and service. Failure to compete effectively in any of these areas could have an adverse impact on financial results. The company mitigates its exposure by ensuring that the business is differentiated from the competition by the quality of its service and its customer care.

Future developments

The company continues to review other trade vertical to provide further services to its customers,

The directors aim to maintain the management policies which have resulted in the company's growth and profitability in recent years. In the coming year they expect the company to increase its sales and profitability.

ON BEHALF OF THE BOARD:





Mr N Nicolas - Director


3 October 2024

MNM Property Services Limited (Registered number: 03117531)

Report of the Directors
for the Year Ended 31 March 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of property maintenance.

DIVIDENDS
During the year the company made dividend distributions to its members on a monthly basis. The total dividends paid in the year amounted to £387,000 (2023 £180,000).

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

Mr N Nicolas
Mr M P O'Sullivan
Mrs H Nicolas
Mrs M O'Sullivan
Mr G Panteli
Mr J Langshaw

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

MNM Property Services Limited (Registered number: 03117531)

Report of the Directors
for the Year Ended 31 March 2024


AUDITORS
The auditors, Chris Syrimis & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr N Nicolas - Director


3 October 2024

Report of the Independent Auditors to the Members of
MNM Property Services Limited

Opinion
We have audited the financial statements of MNM Property Services Limited (the 'company') for the year ended 31 March 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Report of the Independent Auditors to the Members of
MNM Property Services Limited


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
MNM Property Services Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to breaches of environmental and health and safety regulations, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and the Listing Rules. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries and management bias in accounting estimates and judgements. Audit procedures performed by the auditors included:
- Discussions with management, internal audit and legal counsel, including consideration of potential instances of non-compliance with laws and regulation and fraud;
- Assessment of matters reported through the Company's whistleblowing procedures and the results of management's investigation of such matters;
- Substantive testing of journal entries which met a defined risk criteria, focusing on where and how fraud could arise; and
- Challenging assumptions and judgements made by management in its accounting estimates or judgements, in particular in relation to uncertain tax position.

No instances of material non-compliance were identified. There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
MNM Property Services Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Chris Syrimis (Senior Statutory Auditor)
for and on behalf of Chris Syrimis & Co
Chartered Certified Accountants and
Statutory Auditors
97 Judd Street
London
WC1H 9JG

3 October 2024

MNM Property Services Limited (Registered number: 03117531)

Income Statement
for the Year Ended 31 March 2024

31/3/24 31/3/23
Notes £    £   

TURNOVER 10,799,199 10,774,391

Cost of sales 7,832,166 8,121,995
GROSS PROFIT 2,967,033 2,652,396

Administrative expenses 2,223,483 2,419,406
743,550 232,990

Other operating income 60,647 -
OPERATING PROFIT 4 804,197 232,990


Interest payable and similar expenses 5 90,552 98,761
PROFIT BEFORE TAXATION 713,645 134,229

Tax on profit 6 237,674 34,593
PROFIT FOR THE FINANCIAL
YEAR

475,971

99,636

MNM Property Services Limited (Registered number: 03117531)

Other Comprehensive Income
for the Year Ended 31 March 2024

31/3/24 31/3/23
Notes £    £   

PROFIT FOR THE YEAR 475,971 99,636


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE
INCOME FOR THE YEAR

475,971

99,636

MNM Property Services Limited (Registered number: 03117531)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 555,275 682,933

CURRENT ASSETS
Stocks 9 202,200 225,000
Debtors 10 1,835,126 1,933,136
Cash at bank and in hand 893,321 1,174,924
2,930,647 3,333,060
CREDITORS
Amounts falling due within one year 11 2,027,381 2,205,455
NET CURRENT ASSETS 903,266 1,127,605
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,458,541

1,810,538

CREDITORS
Amounts falling due after more than one
year

12

(763,982

)

(1,214,092

)

PROVISIONS FOR LIABILITIES 15 (138,134 ) (128,992 )
NET ASSETS 556,425 467,454

CAPITAL AND RESERVES
Called up share capital 16 100,000 100,000
Retained earnings 17 456,425 367,454
SHAREHOLDERS' FUNDS 556,425 467,454

The financial statements were approved by the Board of Directors and authorised for issue on 3 October 2024 and were signed on its behalf by:





Mr M P O'Sullivan - Director


MNM Property Services Limited (Registered number: 03117531)

Statement of Changes in Equity
for the Year Ended 31 March 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 100,000 447,818 547,818

Changes in equity
Dividends - (180,000 ) (180,000 )
Total comprehensive income - 99,636 99,636
Balance at 31 March 2023 100,000 367,454 467,454

Changes in equity
Dividends - (387,000 ) (387,000 )
Total comprehensive income - 475,971 475,971
Balance at 31 March 2024 100,000 456,425 556,425

MNM Property Services Limited (Registered number: 03117531)

Cash Flow Statement
for the Year Ended 31 March 2024

31/3/24 31/3/23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 513,136 1,029,707
Interest paid (50,564 ) (54,036 )
Interest element of hire purchase
payments paid

(39,988

)

(44,725

)
Tax paid (37,048 ) 120,000
Net cash from operating activities 385,536 1,050,946

Cash flows from investing activities
Purchase of tangible fixed assets (29,100 ) (618 )
Sale of tangible fixed assets 39,188 78,064
Net cash from investing activities 10,088 77,446

Cash flows from financing activities
Loan repayments in year (229,167 ) (500,000 )
Asset finance in year (220,943 ) (243,803 )
Amount withdrawn by directors (667 ) (1,082 )
Advances from associated companies 160,550 550,558
Equity dividends paid (387,000 ) (180,000 )
Net cash from financing activities (677,227 ) (374,327 )

(Decrease)/increase in cash and cash equivalents (281,603 ) 754,065
Cash and cash equivalents at
beginning of year

2

1,174,924

420,859

Cash and cash equivalents at end of
year

2

893,321

1,174,924

MNM Property Services Limited (Registered number: 03117531)

Notes to the Cash Flow Statement
for the Year Ended 31 March 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
31/3/24 31/3/23
£    £   
Profit before taxation 713,645 134,229
Depreciation charges 139,426 171,670
Profit on disposal of fixed assets (21,856 ) (42,836 )
Finance costs 90,552 98,761
921,767 361,824
Decrease in stocks 22,800 2,000
(Increase)/decrease in trade and other debtors (62,540 ) 148,887
(Decrease)/increase in trade and other creditors (368,891 ) 516,996
Cash generated from operations 513,136 1,029,707

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 893,321 1,174,924
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 1,174,924 420,859


MNM Property Services Limited (Registered number: 03117531)

Notes to the Cash Flow Statement
for the Year Ended 31 March 2024

3. ANALYSIS OF CHANGES IN NET DEBT

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 1,174,924 (281,603 ) 893,321
1,174,924 (281,603 ) 893,321
Debt
Finance leases (589,091 ) 220,943 (368,148 )
Debts falling due after 1 year (625,001 ) 229,167 (395,834 )
(1,214,092 ) 450,110 (763,982 )
Total (39,168 ) 168,507 129,339

MNM Property Services Limited (Registered number: 03117531)

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

1. STATUTORY INFORMATION

MNM Property Services 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on cost
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance

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

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.

MNM Property Services Limited (Registered number: 03117531)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

Going concern
The company meets its day-to-day working capital requirements through careful management of working capital positions. After reviewing cash flow forecasts, profit and loss forecasts, and making necessary enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3. EMPLOYEES AND DIRECTORS
31/3/24 31/3/23
£    £   
Wages and salaries 2,854,984 3,451,167
Other pension costs 65,002 78,002
2,919,986 3,529,169

The average number of employees during the year was as follows:
31/3/24 31/3/23

Directors 5 7
Office and administrative employees 19 25
Operatives:- Direct cost 52 76
76 108

31/3/24 31/3/23
£    £   
Directors' remuneration 117,333 142,715
Directors' pension contributions to money purchase schemes 7,200 7,200

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31/3/24 31/3/23
£    £   
Depreciation - owned assets 139,426 171,671
Profit on disposal of fixed assets (21,856 ) (42,836 )
Auditors' remuneration 9,800 8,200

MNM Property Services Limited (Registered number: 03117531)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. INTEREST PAYABLE AND SIMILAR EXPENSES
31/3/24 31/3/23
£    £   
Bank loan interest 50,564 54,036
Hire purchase 34,070 30,248
Leasing 5,918 14,477
90,552 98,761

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31/3/24 31/3/23
£    £   
Current tax:
UK corporation tax 228,532 37,048

Deferred tax 9,142 (2,455 )
Tax on profit 237,674 34,593

7. DIVIDENDS
31/3/24 31/3/23
£    £   
Ordinary shares of £1 each
Final dividend ord shares 387,000 180,000

MNM Property Services Limited (Registered number: 03117531)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. TANGIBLE FIXED ASSETS
Short Plant and Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2023 12,924 217,877 1,094,297 1,325,098
Additions - 10,105 18,995 29,100
Disposals - - (64,725 ) (64,725 )
At 31 March 2024 12,924 227,982 1,048,567 1,289,473
DEPRECIATION
At 1 April 2023 8,894 187,046 446,225 642,165
Charge for year 1,292 8,187 129,947 139,426
Eliminated on disposal - - (47,393 ) (47,393 )
At 31 March 2024 10,186 195,233 528,779 734,198
NET BOOK VALUE
At 31 March 2024 2,738 32,749 519,788 555,275
At 31 March 2023 4,030 30,831 648,072 682,933

9. STOCKS
31/3/24 31/3/23
£    £   
Finished goods 202,200 225,000

Stocks relates to raw materials and consumables.

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 1,230,151 1,185,336
Amounts owed by participating interests 83,022 233,572
Amounts owed by associates 180,000 190,000
Other debtors 96,154 78,429
Prepayments 245,799 245,799
1,835,126 1,933,136

MNM Property Services Limited (Registered number: 03117531)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade creditors 1,201,822 1,263,866
Corporation tax 228,532 37,048
PAYE & subcontractors tax 104,250 116,205
VAT 446,689 744,321
Other creditors 11,065 13,440
Directors' current accounts 1,174 1,841
Accrued expenses 33,849 28,734
2,027,381 2,205,455

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans (see note 13) 395,834 625,001
Hire purchase contracts (see note 14) 368,148 589,091
763,982 1,214,092

13. LOANS

An analysis of the maturity of loans is given below:

31/3/24 31/3/23
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 395,834 625,001

Bank loans and overdraft are secured over the company's assets by way of a fixed and floating charge.

14. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31/3/24 31/3/23
£    £   
Net obligations repayable:
Between one and five years 368,148 589,091

15. PROVISIONS FOR LIABILITIES
31/3/24 31/3/23
£    £   
Deferred tax
Accelerated capital allowances 138,134 128,992

MNM Property Services Limited (Registered number: 03117531)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

15. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 128,992
Charge to Income Statement during year 9,142
Balance at 31 March 2024 138,134

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/24 31/3/23
value: £    £   
100,000 Ordinary £1 100,000 100,000

17. RESERVES
Retained
earnings
£   

At 1 April 2023 367,454
Profit for the year 475,971
Dividends (387,000 )
At 31 March 2024 456,425