IRIS Accounts Production v24.2.0.383 06745353 director 1.12.22 30.11.23 30.11.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh067453532022-11-30067453532023-11-30067453532022-12-012023-11-30067453532021-11-30067453532021-12-012022-11-30067453532022-11-3006745353ns15:EnglandWales2022-12-012023-11-3006745353ns14:PoundSterling2022-12-012023-11-3006745353ns10:Director12022-12-012023-11-3006745353ns10:PrivateLimitedCompanyLtd2022-12-012023-11-3006745353ns10:SmallEntities2022-12-012023-11-3006745353ns10:AuditExempt-NoAccountantsReport2022-12-012023-11-3006745353ns10:SmallCompaniesRegimeForDirectorsReport2022-12-012023-11-3006745353ns10:SmallCompaniesRegimeForAccounts2022-12-012023-11-3006745353ns10:FullAccounts2022-12-012023-11-3006745353ns10:RegisteredOffice2022-12-012023-11-3006745353ns5:CurrentFinancialInstruments2023-11-3006745353ns5:CurrentFinancialInstruments2022-11-3006745353ns5:Non-currentFinancialInstruments2023-11-3006745353ns5:Non-currentFinancialInstruments2022-11-3006745353ns5:ShareCapital2023-11-3006745353ns5:ShareCapital2022-11-3006745353ns5:FurtherSpecificReserve1ComponentTotalEquity2023-11-3006745353ns5:FurtherSpecificReserve1ComponentTotalEquity2022-11-3006745353ns5:RetainedEarningsAccumulatedLosses2023-11-3006745353ns5:RetainedEarningsAccumulatedLosses2022-11-3006745353ns5:WithinOneYearns5:CurrentFinancialInstruments2023-11-3006745353ns5:WithinOneYearns5:CurrentFinancialInstruments2022-11-3006745353ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-11-3006745353ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2022-11-3006745353ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-11-3006745353ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-11-3006745353ns5:Non-currentFinancialInstruments2022-12-012023-11-3006745353ns5:DeferredTaxation2022-11-3006745353ns5:DeferredTaxation2023-11-30
REGISTERED NUMBER: 06745353 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 November 2023

for

MB PROPERTIES & BUILDINGS LIMITED

MB PROPERTIES & BUILDINGS LIMITED (REGISTERED NUMBER: 06745353)






Contents of the Financial Statements
for the year ended 30 NOVEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MB PROPERTIES & BUILDINGS LIMITED

Company Information
for the year ended 30 NOVEMBER 2023







DIRECTOR: A. Bedi





REGISTERED OFFICE: Global House
303 Ballards Lane
London
N12 8NP





REGISTERED NUMBER: 06745353 (England and Wales)





ACCOUNTANTS: K J Pittalis and Partners LLP
Chartered Certified Accountants
Global House
303 Ballards Lane
London
N12 8NP

MB PROPERTIES & BUILDINGS LIMITED (REGISTERED NUMBER: 06745353)

Statement of Financial Position
30 NOVEMBER 2023

30/11/23 30/11/22
Notes £    £   
FIXED ASSETS
Investment property 4 1,958,071 1,958,071

CURRENT ASSETS
Debtors 5 11,062 -
Cash at bank 47,200 85,825
58,262 85,825
CREDITORS
Amounts falling due within one year 6 (52,089 ) (57,268 )
NET CURRENT ASSETS 6,173 28,557
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,964,244

1,986,628

CREDITORS
Amounts falling due after more than one
year

7

(1,227,674

)

(1,239,819

)

PROVISIONS FOR LIABILITIES 8 (94,262 ) (94,262 )
NET ASSETS 642,308 652,547

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 560,817 560,817
Retained earnings 81,391 91,630
SHAREHOLDERS' FUNDS 642,308 652,547

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

MB PROPERTIES & BUILDINGS LIMITED (REGISTERED NUMBER: 06745353)

Statement of Financial Position - continued
30 NOVEMBER 2023


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 October 2024 and were signed by:





A. Bedi - Director


MB PROPERTIES & BUILDINGS LIMITED (REGISTERED NUMBER: 06745353)

Notes to the Financial Statements
for the year ended 30 NOVEMBER 2023

1. STATUTORY INFORMATION

MB Properties & Buildings 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.

Turnover
Turnover represents rents receivable from the investment properties owned by company. Rents are recognised up to the year end date.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 1 (2022 - 2 ) .

MB PROPERTIES & BUILDINGS LIMITED (REGISTERED NUMBER: 06745353)

Notes to the Financial Statements - continued
for the year ended 30 NOVEMBER 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 1,958,071
NET BOOK VALUE
At 30 November 2023 1,958,071
At 30 November 2022 1,958,071

The fair value of the property at November 2023 has been arrived at on the basis of a valuation carried out at the date by Mr Bedi, a director of the company who is not a professionally qualified valuer. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in its location and takers takes into account the rental in the area where the properties are situated.

5. DEBTORS
30/11/23 30/11/22
£    £   
Amounts falling due within one year:
Trade debtors 5,023 -
Other debtors 2,400 -
7,423 -

Amounts falling due after more than one year:
Other debtors 3,639 -

Aggregate amounts 11,062 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Taxation and social security - 5,754
Other creditors 52,089 51,514
52,089 57,268

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/11/23 30/11/22
£    £   
Bank loans 1,132,544 1,144,689
Amounts owed to group undertakings 95,130 95,130
1,227,674 1,239,819

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,132,544 1,144,689

MB PROPERTIES & BUILDINGS LIMITED (REGISTERED NUMBER: 06745353)

Notes to the Financial Statements - continued
for the year ended 30 NOVEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

The bank loans are secured by first legal charges over the properties of the company.

8. PROVISIONS FOR LIABILITIES
30/11/23 30/11/22
£    £   
Deferred tax
Other timing differences 94,262 94,262

Deferred
tax
£   
Balance at 1 December 2022 94,262
Balance at 30 November 2023 94,262

9. RELATED PARTY DISCLOSURES

Included in creditors is an amount of £46,576 (2022: £46,576) owed to Mr A Bedi, the director of the company. Also included in other creditors is an amount of £95,130 (2022: £95,130) owed to Bedico Ltd, a company controlled by Mr A Bedi.