IRIS Accounts Production v24.3.0.553 13356198 director 1.3.23 29.2.24 29.2.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh133561982023-02-28133561982024-02-29133561982023-03-012024-02-29133561982022-02-28133561982022-03-012023-02-28133561982023-02-2813356198ns15:EnglandWales2023-03-012024-02-2913356198ns14:PoundSterling2023-03-012024-02-2913356198ns10:Director12023-03-012024-02-2913356198ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2913356198ns10:SmallEntities2023-03-012024-02-2913356198ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2913356198ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2913356198ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2913356198ns10:FullAccounts2023-03-012024-02-2913356198ns5:CurrentFinancialInstruments2024-02-2913356198ns5:CurrentFinancialInstruments2023-02-2813356198ns5:Non-currentFinancialInstruments2024-02-2913356198ns5:Non-currentFinancialInstruments2023-02-2813356198ns5:ShareCapital2024-02-2913356198ns5:ShareCapital2023-02-2813356198ns5:RevaluationReserve2024-02-2913356198ns5:RevaluationReserve2023-02-2813356198ns5:RetainedEarningsAccumulatedLosses2024-02-2913356198ns5:RetainedEarningsAccumulatedLosses2023-02-2813356198ns10:RegisteredOffice2023-03-012024-02-2913356198ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-02-2913356198ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-02-2813356198ns5:Secured2024-02-2913356198ns5:Secured2023-02-28
REGISTERED NUMBER: 13356198 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Mains Property Investments Ltd

Mains Property Investments Ltd (Registered number: 13356198)






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




Page

Balance Sheet 1

Notes to the Financial Statements 2


Mains Property Investments Ltd (Registered number: 13356198)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 240,000 225,000

CURRENT ASSETS
Cash at bank and in hand 778 489

CREDITORS
Amounts falling due within one year 5 76,211 135,968
NET CURRENT LIABILITIES (75,433 ) (135,479 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

164,567

89,521

CREDITORS
Amounts falling due after more than one year 6 (136,179 ) (76,204 )

PROVISIONS FOR LIABILITIES (8,246 ) (5,396 )
NET ASSETS 20,142 7,921

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 35,154 23,004
Retained earnings (15,112 ) (15,183 )
20,142 7,921

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 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.

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 director and authorised for issue on 25 November 2024 and were signed by:





A Mains - Director


Mains Property Investments Ltd (Registered number: 13356198)

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

1. STATUTORY INFORMATION

Mains Property Investments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 13356198

Registered office: 36 Providence Drive
Guisborough
TS14 7NP

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.

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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 225,000
Revaluations 15,000
At 29 February 2024 240,000
NET BOOK VALUE
At 29 February 2024 240,000
At 28 February 2023 225,000

Mains Property Investments Ltd (Registered number: 13356198)

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

4. INVESTMENT PROPERTY - continued

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2023 28,400
Valuation in 2024 15,000
Cost 196,600
240,000

If investment property had not been revalued it would have been included at the following historical cost:

29.2.24 28.2.23
£    £   
Cost 196,600 196,600

Investment property was valued on an open market basis on 28 February 2024 by by the directors. .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts - 59,975
Other creditors 76,211 75,993
76,211 135,968

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans 136,179 76,204

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 136,179 76,204

7. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank loans 136,179 136,179

The debts are secured over the assets to which they relate.