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REGISTERED NUMBER: 11116803 (England and Wales)









MAYLINGS PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






MAYLINGS PROPERTIES LIMITED (REGISTERED NUMBER: 11116803)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MAYLINGS PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: D J Frampton





REGISTERED OFFICE: Station House
North Street
Havant
Hampshire
PO9 1QU





REGISTERED NUMBER: 11116803 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

MAYLINGS PROPERTIES LIMITED (REGISTERED NUMBER: 11116803)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8 275
Investment property 5 640,359 642,491
640,367 642,766

CURRENT ASSETS
Debtors 6 9,536 9,048
Cash at bank 35,751 19,013
45,287 28,061
CREDITORS
Amounts falling due within one year 7 235,455 233,217
NET CURRENT LIABILITIES (190,168 ) (205,156 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

450,199

437,610

CREDITORS
Amounts falling due after more than one
year

8

462,134

462,134
NET LIABILITIES (11,935 ) (24,524 )

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings (11,936 ) (24,525 )
SHAREHOLDERS' FUNDS (11,935 ) (24,524 )

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

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

MAYLINGS PROPERTIES LIMITED (REGISTERED NUMBER: 11116803)

BALANCE SHEET - continued
31 MARCH 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 December 2024 and were signed by:





D J Frampton - Director


MAYLINGS PROPERTIES LIMITED (REGISTERED NUMBER: 11116803)

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

1. STATUTORY INFORMATION

Maylings Properties 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Income receivable from properties is recognised in the period in which it falls due and is included in the profit and loss account.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

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.

Financial instruments
Debtors and cash at bank: Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand includes cash on deposit or in a current account.

Creditors and provisions: Creditors and provisions are recognised where there is a present obligation resulting from a past event that will probably result in the transfer of economic benefits to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

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 at the balance sheet date, except as otherwise required in the paragraphs below.

Unrelieved 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.

Deferred tax shall not be recognised on permanent differences, other than a business combination where assets (other than goodwill) give rise to an deferred tax asset or liability.

MAYLINGS PROPERTIES LIMITED (REGISTERED NUMBER: 11116803)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 810
DEPRECIATION
At 1 April 2023 535
Charge for year 267
At 31 March 2024 802
NET BOOK VALUE
At 31 March 2024 8
At 31 March 2023 275

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 642,491
Revaluations (2,132 )
At 31 March 2024 640,359
NET BOOK VALUE
At 31 March 2024 640,359
At 31 March 2023 642,491

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2021 15,831
Valuation in 2022 15,000
Valuation in 2023 (21,710 )
Valuation in 2024 (2,132 )
Cost 633,370
640,359

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

2024 2023
£    £   
Cost 633,370 633,370

Investment property was valued on an open market basis on by the director .

MAYLINGS PROPERTIES LIMITED (REGISTERED NUMBER: 11116803)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 9,536 9,048

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 235,455 233,217

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 462,134 462,134

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgage 462,134 462,134

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgage 462,134 462,134

10. CALLED UP SHARE CAPITAL

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