REGISTERED NUMBER: |
ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
MASONS PROPERTY MANAGEMENT LTD |
REGISTERED NUMBER: |
ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
MASONS PROPERTY MANAGEMENT LTD |
MASONS PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 11765619) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MASONS PROPERTY MANAGEMENT LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
39 Kirkby Road |
Hemsworth |
Pontefract |
West Yorkshire |
WF9 4BA |
MASONS PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 11765619) |
ABRIDGED BALANCE SHEET |
31 JANUARY 2024 |
31.1.24 | 31.1.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 7 | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 8 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his 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. |
MASONS PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 11765619) |
ABRIDGED BALANCE SHEET - continued |
31 JANUARY 2024 |
The financial statements were approved by the director and authorised for issue on |
MASONS PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 11765619) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
1. | STATUTORY INFORMATION |
Masons Property Management Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rents receivable. The company is not registered for VAT. |
Tangible fixed assets |
Computer equipment | - |
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. |
Although current liabilities exceed current assets at the balance sheet date, the accounts have been prepared on a going concern basis because in the opinion of the director, the company will have sufficient funds available for the company's operations to continue for the foreseeable future, due to his continuing support. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
MASONS PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 11765619) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 February 2023 |
and 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 February 2023 |
Disposals | ( |
) |
Revaluations |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
Fair value at 31 January 2024 is represented by: |
£ |
Valuation in 2024 | 16,172 |
Cost | 163,828 |
180,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
31.1.24 | 31.1.23 |
£ | £ |
Cost | 163,828 | - |
Investment property was valued on an open market basis on 31 January 2024 by the director . |
MASONS PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 11765619) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
31.1.24 | 31.1.23 |
£ | £ |
Repayable by instalments |
Bank loans more 5 yr by instal |
7. | PROVISIONS FOR LIABILITIES |
31.1.24 | 31.1.23 |
£ | £ |
Deferred tax | 3,073 | - |
Deferred |
tax |
£ |
Tax on revalued properties | 3,073 |
Balance at 31 January 2024 |
8. | RESERVES |
Retained |
earnings |
£ |
At 1 February 2023 | ( |
) |
Profit for the year |
At 31 January 2024 | ( |
) |
Retained earnings includes an adjustment of £13,099, which is non-distributable, representing the surplus on revaluation of investment properties, less a provision for taxation which would arise if the properties were sold at their valuation. |