REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 November 2023 |
for |
MB PROPERTIES & BUILDINGS LIMITED |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Other reserves |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 were approved by the director and authorised for issue on |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
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 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
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 |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/11/23 | 30/11/22 |
£ | £ |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30/11/23 | 30/11/22 |
£ | £ |
Bank loans |
Amounts owed to group undertakings |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
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 |
Balance at 30 November 2023 |
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. |