Registered number: 07415085 | ||||||||
FOR THE YEAR ENDED 31/01/2024 | ||||||||
Prepared By: | ||||||||
Greywalls Accountants Limited | ||||||||
13 | ||||||||
Isis Lake | ||||||||
Cirencester | ||||||||
Gloucestershire | ||||||||
GL7 5LT |
M P S Property (UK) Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/01/2024 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
Berkshire | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 07415085 | ||||||||
ACCOUNTANTS | ||||||||
Greywalls Accountants Limited | ||||||||
13 | ||||||||
Isis Lake | ||||||||
Cirencester | ||||||||
Gloucestershire | ||||||||
GL7 5LT |
M P S Property (UK) Limited | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31/01/2024 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
M P S Property (UK) Limited | ||||||||
BALANCE SHEET AT | ||||||||||
2024 | 2023 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 3 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 6 | |||||||||
Cash at bank and in hand | ||||||||||
45,497 | 448,633 | |||||||||
CREDITORS: Amounts falling due within one year | 7 | |||||||||
NET CURRENT LIABILITIES | ( | (726,841) | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 8 | 56,265 | 14,467 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 9 | |||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 10 | |||||||||
Revaluation reserve | 1e,11 | 244,085 | 244,085 | |||||||
Profit and loss account | 316,786 | 359,554 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
M P S Property (UK) Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/01/2024 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
Equipment | reducing balance 25% |
1c. Investment Properties | ||||||||
Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view. |
1d. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1e. Revaluation Reserve | ||||||||
Surpluses or deficits arising on the revaluation of individual fixed assets other than investment properties are credited or debited to a non-distributible reserve known as the revaluation reserve (see also note 11). | ||||||||
Revaluation deficits in excess of the amount of prior revaluation surpluses on the same asset are charged to the profit and loss account. |
M P S Property (UK) Limited | ||||||||
1f. Functional Currency | ||||||||
The functional currency of the company is considered to be pounds sterling because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pounds sterling. | ||||||||
Monetary amounts in these financial statements are rounded to the nearest £. |
2. EMPLOYEES | ||||||
2024 | 2023 | |||||
No. | No. | |||||
Average number of employees | 1 | |||||
3. TANGIBLE FIXED ASSETS | ||||
Equipment | Total | |||
£ | £ | |||
Cost | ||||
At 01/02/2023 | 117,329 | 117,329 | ||
Additions | 178,728 | 178,728 | ||
At 31/01/2024 | 296,057 | 296,057 | ||
Depreciation | ||||
At 01/02/2023 | 63,044 | 63,044 | ||
For the year | 59,332 | 59,332 | ||
At 31/01/2024 | 122,376 | 122,376 | ||
Net Book Amounts | ||||
At 31/01/2024 | 173,681 | |||
At 31/01/2023 | 54,285 | |||
4. INVESTMENT PROPERTIES | ||||||||
Investment | ||||||||
Properties | Total | |||||||
£ | £ | |||||||
Fair value | ||||||||
At 01/02/2023 | 1,347,354 | 1,347,354 | ||||||
Additions | 52,968 | 52,968 | ||||||
At 31/01/2024 | 1,400,322 | 1,400,322 | ||||||
Investment properties are stated at fair values. | ||||||||
These have been determined by the director of the business, based on current prices in an active market for similar property in the same location and condition. | ||||||||
M P S Property (UK) Limited | ||||||||
5. STOCK | 2024 | 2023 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock | ||||||
6. DEBTORS | 2024 | 2023 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 4,962 | 8,370 | ||||||
4,962 | 8,370 | |||||||
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
UK corporation tax | - | 38,313 | ||||||
VAT | 2,362 | 1,481 | ||||||
Directors current account | 346,386 | 678,662 | ||||||
Bank Loan | 5,600 | 5,600 | ||||||
Hire purchase | 37,492 | - | ||||||
Other creditors | 4,000 | 4,000 | ||||||
Amounts due to group companies | 488,509 | 447,418 | ||||||
884,349 | 1,175,474 | |||||||
8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Bank loans (unsecured) >1yr | 8,867 | 14,467 | ||||||
Hire purchase >1yr | 47,398 | - | ||||||
56,265 | 14,467 | |||||||
M P S Property (UK) Limited | ||||||||
9. PROVISIONS FOR LIABILITIES | 2024 | 2023 | ||||||
£ | £ | |||||||
Deferred taxation | 118,013 | 56,690 | ||||||
118,013 | 56,690 | |||||||
10. SHARE CAPITAL | 2024 | 2023 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
2 | 2 | |||||||
2 | 2 | |||||||
11. REVALUATION RESERVE | 2024 | 2023 | ||||||
£ | £ | |||||||
Revaluation reserve | 244,085 | 244,085 | ||||||
244,085 | 244,085 | |||||||
As at the year end, the company's director revalued the investment property held on an open market basis. The cumulative surplus on revaluation was £244,085 (2023 - £244,085). | ||||||||
12. CONTROLLING PARTY | ||||||||
The ultimate controlling party is J Fulbrook, by virtue of his shareholding in M P S Property (UK) Limiteds holding company. | ||||||||
The company's ultimate holding company is Maidenhead Holdings (UK) Limited. | ||||||||
13. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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14. PARENT UNDERTAKING | ||||||||
The company's ultimate parent undertaking is Maidenhead Holdins (UK) Limited. Whose registered office is 3 Hamilton Gardens, Burnham, Slough, Berkshire SL1 7AA. | ||||||||
M P S Property (UK) Limited | ||||||||
15. COMPANY INFORMATION | ||||||||
M P S Property UK Limited is a private company, limited by shares, domiciled in England and Wales, registration number 07415085. The registered office is 3 Hamilton Gardens, Burnham, Slough, SL1 7AA. | ||||||||