Registered number
09822589
THE M&S PROPERTIES (M/C) LIMITED
Filleted Accounts
31 March 2024
THE M&S PROPERTIES (M/C) LIMITED
Registered number: 09822589
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 396,022 482,253
Current assets
Debtors 4 72,721 73,316
Cash at bank and in hand 46,965 7,588
119,686 80,904
Creditors: amounts falling due within one year 5 (110,765) (94,372)
Net current assets/(liabilities) 8,921 (13,468)
Total assets less current liabilities 404,943 468,785
Creditors: amounts falling due after more than one year 6 (376,864) (467,349)
Net assets 28,079 1,436
Capital and reserves
Called up share capital 2 2
Profit and loss account 28,077 1,434
Shareholders' funds 28,079 1,436
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Menuha Meyerowitz
Director
Approved by the board on 26 December 2024
THE M&S PROPERTIES (M/C) LIMITED
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Investments
Fixed asset investments in quoted shares, traded bonds, investment properties and similar investments are shown initially at cost upon acquisition and at their market value at the balance sheet date at the end of the financial period. Investment properties are not depreciated.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2023 482,253
Disposals (86,231)
At 31 March 2024 396,022
Depreciation
At 31 March 2024 -
Net book value
At 31 March 2024 396,022
At 31 March 2023 482,253
4 Debtors 2024 2023
£ £
Trade debtors 2,462 90
Other debtors 70,259 73,226
72,721 73,316
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 7,905 24
Other creditors 102,860 94,348
110,765 94,372
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 376,864 467,349
7 Other information
THE M&S PROPERTIES (M/C) LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
158 Cromwell Road
Salford
M6 6DE
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