Company registration number 10710575 (England and Wales)
MORRIS BENJAMIN PROPERTIES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
MORRIS BENJAMIN PROPERTIES LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
MORRIS BENJAMIN PROPERTIES LTD (REGISTERED NUMBER: 10710575)
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
381
508
Investment property
4
212,000
204,101
212,381
204,609
Current assets
Cash at bank and in hand
568
2,460
Creditors: amounts falling due within one year
5
(109,236)
(100,977)
Net current liabilities
(108,668)
(98,517)
Total assets less current liabilities
103,713
106,092
Creditors: amounts falling due after more than one year
6
(119,535)
(119,544)
Net liabilities
(15,822)
(13,452)
Capital and reserves
Called up share capital
100
100
Non-distributable profits reserve
7,899
Distributable profit and loss reserves
(23,821)
(13,552)
Total equity
(15,822)
(13,452)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
MORRIS BENJAMIN PROPERTIES LTD (REGISTERED NUMBER: 10710575)
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 4 November 2024
Ms A Morris
Director
MORRIS BENJAMIN PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information
Morris Benjamin Properties Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Square, Wrotham, Sevenoaks, Kent, TN15 7AA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thurs the director continues to adopt the going concern basis of accounting in preparing the financial statements.true
1.3
Turnover
Turnover represents rental income received during the period.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% Reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss. Investment properties are not subject to depreciation.
MORRIS BENJAMIN PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 May 2023 and 30 April 2024
2,647
Depreciation and impairment
At 1 May 2023
2,139
Depreciation charged in the year
127
At 30 April 2024
2,266
Carrying amount
At 30 April 2024
381
At 30 April 2023
508
4
Investment property
2024
£
Fair value
At 1 May 2023
204,101
Revaluations
7,899
At 30 April 2024
212,000
Investment property comprises property at fair value of £212,000. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors best estimates. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
MORRIS BENJAMIN PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
742
Other creditors
108,494
100,977
109,236
100,977
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
119,535
119,544
The bank loan is secured against the property in the company's name by way of a fixed and floating charge.
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
119,535
119,544