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MTR Residential Limited

Unaudited Financial Statements for the Year Ended 31 January 2024






MTR Residential Limited (Registered number: 11128773)






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


MTR Residential Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: M T Rimmer
Mrs R Webley-Rimmer





REGISTERED OFFICE: 13 Sinclair Drive
Allerton
Liverpool
Merseyside
L18 0HN





REGISTERED NUMBER: 11128773 (England and Wales)





ACCOUNTANTS: Matthews Sutton & Co Ltd
Chartered Certified Accountants
48 - 52 Penny Lane
Mossley Hill
Liverpool
Merseyside
L18 1DG

MTR Residential Limited (Registered number: 11128773)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 272 340
Investment property 5 577,020 560,217
577,292 560,557

CURRENT ASSETS
Debtors 6 641 -
Cash at bank 930 3,284
1,571 3,284
CREDITORS
Amounts falling due within one year 7 109,136 112,894
NET CURRENT LIABILITIES (107,565 ) (109,610 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

469,727

450,947

CREDITORS
Amounts falling due after more than one
year

8

(387,853

)

(388,646

)

PROVISIONS FOR LIABILITIES (18,298 ) (14,979 )
NET ASSETS 63,576 47,322

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 9 54,739 44,963
Retained earnings 8,835 2,357
63,576 47,322

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 directors acknowledge their 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.

MTR Residential Limited (Registered number: 11128773)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2024 and were signed on its behalf by:




M T Rimmer - Director



Mrs R Webley-Rimmer - Director


MTR Residential Limited (Registered number: 11128773)

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

1. STATUTORY INFORMATION

MTR Residential 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 is measured at the fair value of rents received.

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 etc - 20% 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

MTR Residential Limited (Registered number: 11128773)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 709
DEPRECIATION
At 1 February 2023 369
Charge for year 68
At 31 January 2024 437
NET BOOK VALUE
At 31 January 2024 272
At 31 January 2023 340

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 560,217
Revaluations 16,803
At 31 January 2024 577,020
NET BOOK VALUE
At 31 January 2024 577,020
At 31 January 2023 560,217

Investment properties were valued using market data by the director on 31/01/2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 641 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 793 774
Taxation and social security 1,417 1,495
Other creditors 106,926 110,625
109,136 112,894

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 387,853 388,646

MTR Residential Limited (Registered number: 11128773)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 386,486 386,486

9. RESERVES
Fair
value
reserve
£   
At 1 February 2023 44,963
Fair value reserve 9,776

At 31 January 2024 54,739