REGISTERED NUMBER: |
Mayflower Property Investments Limited |
Unaudited Financial Statements |
for the Year Ended 31st March 2024 |
REGISTERED NUMBER: |
Mayflower Property Investments Limited |
Unaudited Financial Statements |
for the Year Ended 31st March 2024 |
Mayflower Property Investments Limited (Registered number: 10648532) |
Contents of the Financial Statements |
for the Year Ended 31st March 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Mayflower Property Investments Limited |
Company Information |
for the Year Ended 31st March 2024 |
Director: |
Registered office: |
Registered number: |
Accountants: |
Accountants |
4th Floor |
100 Fenchurch Street |
London |
EC3M 5JD |
Mayflower Property Investments Limited (Registered number: 10648532) |
Statement of Financial Position |
31st March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investment property | 5 |
Current assets |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 6 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
7 |
Net liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
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. |
Mayflower Property Investments Limited (Registered number: 10648532) |
Statement of Financial Position - continued |
31st March 2024 |
The financial statements were approved by the director and authorised for issue on |
Mayflower Property Investments Limited (Registered number: 10648532) |
Notes to the Financial Statements |
for the Year Ended 31st March 2024 |
1. | Statutory information |
Mayflower Property Investments Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
At the balance sheet date, the company's liabilities exceeded its assets. This is due to the balances owed to the director. Whilst these balances fall due within one year, the company has received assurance from the director that it will continue to give financial support to the company for twelve months from the reporting date. |
On this basis, the director considers it appropriate to prepare the financial statements on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's financial statements may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The financial statements do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed 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 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 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. |
Mayflower Property Investments Limited (Registered number: 10648532) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2024 |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Fixtures |
and |
fittings |
£ |
Cost |
At 1st April 2023 |
and 31st March 2024 |
Depreciation |
At 1st April 2023 |
Charge for year |
At 31st March 2024 |
Net book value |
At 31st March 2024 |
At 31st March 2023 |
5. | Investment property |
Total |
£ |
Fair value |
At 1st April 2023 |
Additions |
At 31st March 2024 |
Net book value |
At 31st March 2024 |
At 31st March 2023 |
The investment property was revalued by the directors at open market value as at 31st March 2024. |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Other creditors |
7. | Creditors: amounts falling due after more than one year |
2024 | 2023 |
£ | £ |
Bank loans |
Mayflower Property Investments Limited (Registered number: 10648532) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2024 |
7. | Creditors: amounts falling due after more than one year - continued |
2024 | 2023 |
£ | £ |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans over 5 years | 149,975 | 149,975 |
8. | Secured debts |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |