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Registration number: 09801539

M I A Properties (Cheadle) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

M I A Properties (Cheadle) Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 6

 

M I A Properties (Cheadle) Limited

Company Information

Director

Mr Michael Iveson Ashworth

Company secretary

Mrs Christine Ashworth

Registered office

3 Downs End
Knutsford
Cheshire
WA16 8BQ

Accountants

Bright Partnership Limited
Unit 26 Edward Court
Broadheath
Altrincham
WA14 5GL

 

M I A Properties (Cheadle) Limited

(Registration number: 09801539)
Statement of Financial Position as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

246,169

246,169

Current assets

 

Debtors

5

626

1,330

Creditors: Amounts falling due within one year

6

(109,282)

(115,486)

Net current liabilities

 

(108,656)

(114,156)

Total assets less current liabilities

 

137,513

132,013

Creditors: Amounts falling due after more than one year

6

(137,045)

(137,045)

Net assets/(liabilities)

 

468

(5,032)

Capital and reserves

 

Called up share capital

7

110

110

Retained earnings

358

(5,142)

Shareholders' funds/(deficit)

 

468

(5,032)

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 19 November 2024
 

.........................................
Mr Michael Iveson Ashworth
Director

 

M I A Properties (Cheadle) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3 Downs End
Knutsford
Cheshire
WA16 8BQ

These financial statements were authorised for issue by the director on 19 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105
'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

M I A Properties (Cheadle) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

M I A Properties (Cheadle) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 October 2023

246,169

246,169

At 30 September 2024

246,169

246,169

Depreciation

Carrying amount

At 30 September 2024

246,169

246,169

At 30 September 2023

246,169

246,169

5

Debtors

Current

2024
£

2023
£

Prepayments

550

1,254

Other debtors

76

76

 

626

1,330

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

1,716

11,858

Other creditors

107,566

103,628

109,282

115,486

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

137,045

137,045

7

Share capital

Allotted, called up and fully paid shares

 

M I A Properties (Cheadle) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

2024

2023

No.

£

No.

£

Ordinary Share of £1 each

110

110

110

110

       

8

Related party transactions

Transactions with the director

2024

At 1 October 2023
£

Advances to director
£

Repayments by director
£

At 30 September 2024
£

Mr Michael Iveson Ashworth

Transaction with Director

103,628

(989)

4,927

107,566

2023

At 1 October 2022
£

Advances to director
£

Repayments by director
£

At 30 September 2023
£

Mr Michael Iveson Ashworth

Transaction with Director

116,432

(19,865)

7,060

103,628