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REGISTERED NUMBER: 05980121 (England and Wales)











Financial Statements

for the Year Ended 29 February 2024

for

MP BRACKLEY LIMITED

MP BRACKLEY LIMITED (REGISTERED NUMBER: 05980121)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MP BRACKLEY LIMITED

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr T J Goode
Mrs C S Goode





SECRETARY: Mrs C S Goode





REGISTERED OFFICE: 42 Lytton Road
Barnet
Hertfordshire
EN5 5BY





REGISTERED NUMBER: 05980121 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

MP BRACKLEY LIMITED (REGISTERED NUMBER: 05980121)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 629 740
Investment property 5 530,000 475,000
530,629 475,740

CURRENT ASSETS
Stocks 6 166,770 166,771
Debtors 7 2,961 3,641
Cash at bank 967 1,640
170,698 172,052
CREDITORS
Amounts falling due within one year 8 729,615 738,726
NET CURRENT LIABILITIES (558,917 ) (566,674 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(28,288

)

(90,934

)

CREDITORS
Amounts falling due after more than one year 9 (4,612 ) (6,074 )

PROVISIONS FOR LIABILITIES (13,750 ) -
NET LIABILITIES (46,650 ) (97,008 )

CAPITAL AND RESERVES
Called up share capital 11 2 2
Revaluation reserve 41,250 -
Retained earnings (87,902 ) (97,010 )
SHAREHOLDERS' FUNDS (46,650 ) (97,008 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

MP BRACKLEY LIMITED (REGISTERED NUMBER: 05980121)

Balance Sheet - continued
29 February 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 21 November 2024 and were signed on its behalf by:





Mr T J Goode - Director


MP BRACKLEY LIMITED (REGISTERED NUMBER: 05980121)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

MP Brackley 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company as there are sufficient external funds available.

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 - 15% 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.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Going concern
The financial statements have been prepared on a going concern basis. The directors have confirmed that they will continue to support the company to ensure it meets it's ongoing commitments.

3. EMPLOYEES AND DIRECTORS

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

MP BRACKLEY LIMITED (REGISTERED NUMBER: 05980121)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Plant and
machiner
£   
COST
At 1 March 2023
and 29 February 2024 3,604
DEPRECIATION
At 1 March 2023 2,864
Charge for year 111
At 29 February 2024 2,975
NET BOOK VALUE
At 29 February 2024 629
At 28 February 2023 740

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 475,000
Revaluations 55,000
At 29 February 2024 530,000
NET BOOK VALUE
At 29 February 2024 530,000
At 28 February 2023 475,000

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2024 55,000
Cost 475,000
530,000

6. STOCKS
29.2.24 28.2.23
£    £   
Work-in-progress 166,770 166,771

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Prepayments and accrued income 2,961 3,641

MP BRACKLEY LIMITED (REGISTERED NUMBER: 05980121)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Tax 1,647 -
VAT 330 141
Other creditors 318,777 318,749
Directors' current accounts 407,508 418,350
Accrued expenses 1,353 1,486
729,615 738,726

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans - 2-5 years 4,612 6,074

10. SECURED DEBTS

The bank loans are secured under a standard mortgage charge.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
2 Ordinary £1 2 2

12. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed the director an amount of £407,508 (2022: £418,350). The amount is interest free and repayable on demand.

13. CONTROLLING PARTY

The controlling parties are Mr T J Goode and Mrs C S Goode.