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Registered number: 10081537
Mysson Property Company Limited
Financial Statements
For The Year Ended 31 March 2024
Accounts Unlocked Limited
Office 43, The Cobalt Building
1600 Eureka Park, Lower Pemberton
Ashford
Kent
TN25 4BF
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 10081537
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 399 798
Investment Properties 5 1,595,000 933,000
1,595,399 933,798
CURRENT ASSETS
Cash at bank and in hand 12,278 34,735
12,278 34,735
Creditors: Amounts Falling Due Within One Year 6 (2,319 ) (2,204 )
NET CURRENT ASSETS (LIABILITIES) 9,959 32,531
TOTAL ASSETS LESS CURRENT LIABILITIES 1,605,358 966,329
Creditors: Amounts Falling Due After More Than One Year 7 (1,040,140 ) (638,523 )
NET ASSETS 565,218 327,806
CAPITAL AND RESERVES
Called up share capital 8 100 100
Share premium account 552,304 552,304
Income Statement 12,814 (224,598 )
SHAREHOLDERS' FUNDS 565,218 327,806
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr C R Symons
Director
1 October 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Mysson Property Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10081537 . The registered office is Office 43, The Cobalt Building 1600 Eureka Park, Lower Pemberton, Ashford, Kent, TN25 4BF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 33% reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 2)
1 2
4. Tangible Assets
Computer Equipment
£
Cost or Valuation
As at 1 April 2023 1,197
As at 31 March 2024 1,197
Depreciation
As at 1 April 2023 399
Provided during the period 399
As at 31 March 2024 798
Net Book Value
As at 31 March 2024 399
As at 1 April 2023 798
Page 3
Page 4
5. Investment Property
2024
£
Fair Value
As at 1 April 2023 933,000
Additions 345,030
Fair value adjustments 316,970
As at 31 March 2024 1,595,000
The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 March 2024 by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similiar properties.
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 2,319 2,204
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 1,040,140 638,523
The bank loans are secured on the assets of the company.
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans from directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Christopher Symons (61 ) 28,622 (28,737 ) - (176 )
The above loan is unsecured, interest free and repayable on demand.
10. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 5,000 49,400
Page 4