IRIS Accounts Production v24.3.0.553 05504303 Board of Directors Board of Directors 1.9.23 31.8.24 31.8.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh055043032023-08-31055043032024-08-31055043032023-09-012024-08-31055043032022-08-31055043032022-09-012023-08-31055043032023-08-3105504303ns15:EnglandWales2023-09-012024-08-3105504303ns14:PoundSterling2023-09-012024-08-3105504303ns10:Director12023-09-012024-08-3105504303ns10:Director22023-09-012024-08-3105504303ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3105504303ns10:SmallEntities2023-09-012024-08-3105504303ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-3105504303ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3105504303ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3105504303ns10:FullAccounts2023-09-012024-08-310550430312023-09-012024-08-3105504303ns10:OrdinaryShareClass12023-09-012024-08-3105504303ns10:CompanySecretary12023-09-012024-08-3105504303ns10:RegisteredOffice2023-09-012024-08-3105504303ns5:CurrentFinancialInstruments2024-08-3105504303ns5:CurrentFinancialInstruments2023-08-3105504303ns5:ShareCapital2024-08-3105504303ns5:ShareCapital2023-08-3105504303ns5:RetainedEarningsAccumulatedLosses2024-08-3105504303ns5:RetainedEarningsAccumulatedLosses2023-08-3105504303ns5:NetGoodwill2023-09-012024-08-3105504303ns5:IntangibleAssetsOtherThanGoodwill2023-09-012024-08-3105504303ns5:LeaseholdImprovements2023-09-012024-08-3105504303ns5:FurnitureFittings2023-09-012024-08-3105504303ns5:ComputerEquipment2023-09-012024-08-3105504303ns5:NetGoodwill2023-08-3105504303ns5:NetGoodwill2024-08-3105504303ns5:NetGoodwill2023-08-3105504303ns5:LeaseholdImprovements2023-08-3105504303ns5:FurnitureFittings2023-08-3105504303ns5:ComputerEquipment2023-08-3105504303ns5:LeaseholdImprovements2024-08-3105504303ns5:FurnitureFittings2024-08-3105504303ns5:ComputerEquipment2024-08-3105504303ns5:LeaseholdImprovements2023-08-3105504303ns5:FurnitureFittings2023-08-3105504303ns5:ComputerEquipment2023-08-3105504303ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3105504303ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3105504303ns10:OrdinaryShareClass12024-08-3105504303ns10:Director222023-08-3105504303ns10:Director222022-08-3105504303ns10:Director222023-09-012024-08-3105504303ns10:Director222022-09-012023-08-3105504303ns10:Director222024-08-3105504303ns10:Director222023-08-31055043031ns10:Director12023-08-31055043031ns10:Director12022-08-31055043031ns10:Director12023-09-012024-08-31055043031ns10:Director12022-09-012023-08-31055043031ns10:Director12024-08-31055043031ns10:Director12023-08-31
REGISTERED NUMBER: 05504303 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

M&M PROPERTIES (LETTINGS) LIMITED

M&M PROPERTIES (LETTINGS) LIMITED (REGISTERED NUMBER: 05504303)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M&M PROPERTIES (LETTINGS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: M J Smith
S Root





SECRETARY: J Roff





REGISTERED OFFICE: 27 - 29 Hockliffe Street
Leighton Buzzard
Bedfordshire
LU7 1EZ





REGISTERED NUMBER: 05504303 (England and Wales)





ACCOUNTANTS: Ad Valorem Accountancy Services Limited
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Milton Keynes
Buckinghamshire
MK12 5NN

M&M PROPERTIES (LETTINGS) LIMITED (REGISTERED NUMBER: 05504303)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 8,207 10,209
8,207 10,209

CURRENT ASSETS
Debtors 7 454,052 377,233
Cash at bank 394,446 346,146
848,498 723,379
CREDITORS
Amounts falling due within one year 8 570,321 501,122
NET CURRENT ASSETS 278,177 222,257
TOTAL ASSETS LESS CURRENT
LIABILITIES

286,384

232,466

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 286,284 232,366
SHAREHOLDERS' FUNDS 286,384 232,466

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

M&M PROPERTIES (LETTINGS) LIMITED (REGISTERED NUMBER: 05504303)

BALANCE SHEET - continued
31 AUGUST 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by:




S Root - Director



M J Smith - Director


M&M PROPERTIES (LETTINGS) LIMITED (REGISTERED NUMBER: 05504303)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

M&M Properties (Lettings) 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention.

TURNOVER
The company's turnover represents the value, excluding value added tax, of commission received from landlords on rental properties and other associated income generated from those rental properties. Turnover is recognised based on commission generated when rental receipts are due from from tenants.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, has been amortised evenly over its estimated useful life of ten years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Equipment - 25% on reducing balance
Website development - 50% on cost

TAXATION
Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

M&M PROPERTIES (LETTINGS) LIMITED (REGISTERED NUMBER: 05504303)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


3. ACCOUNTING POLICIES - continued

DEBTORS RECEIVABLE AND CREDITORS PAYABLE
Debtors and creditors with no stated interest rate and receivable or payable within or after one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 11 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 September 2023
and 31 August 2024 516,697
AMORTISATION
At 1 September 2023
and 31 August 2024 516,697
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

6. TANGIBLE FIXED ASSETS
Improvements Website
to property Equipment development Totals
£ £ £ £
COST
At 1 September 2023 39,523 71,219 3,667 114,409
Additions - 695 - 695
At 31 August 2024 39,523 71,914 3,667 115,104
DEPRECIATION
At 1 September 2023 39,523 61,010 3,667 104,200
Charge for year - 2,697 - 2,697
At 31 August 2024 39,523 63,707 3,667 106,897
NET BOOK VALUE
At 31 August 2024 - 8,207 - 8,207
At 31 August 2023 - 10,209 - 10,209

M&M PROPERTIES (LETTINGS) LIMITED (REGISTERED NUMBER: 05504303)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 553 211
Other debtors 453,499 377,022
454,052 377,233

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Clients' monies held 353,926 329,258
Trade creditors 18,202 13,171
Taxation and social security 191,447 153,164
Other creditors 6,746 5,529
570,321 501,122

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100

10. OTHER FINANCIAL COMMITMENTS

The company had commitments of £16,626 as at 31 August 2024 (2023 - £3,796).

These all relate to vehicle leases.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£ £
M J Smith
Balance outstanding at start of year 238,190 243,190
Amounts advanced 288,000 259,000
Amounts repaid (248,000 ) (264,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 278,190 238,190

M&M PROPERTIES (LETTINGS) LIMITED (REGISTERED NUMBER: 05504303)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

S Root
Balance outstanding at start of year 62,000 66,000
Amounts advanced 72,000 62,000
Amounts repaid (62,000 ) (66,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 72,000 62,000

The loans are interest free and repayable on demand.