REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
M N Properties (Southern) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
M N Properties (Southern) Limited |
M N Properties (Southern) Limited (Registered number: 04963605) |
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 |
M N Properties (Southern) Limited |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Old Printers Yard |
156 South Street |
Dorking |
Surrey |
RH4 2HF |
M N Properties (Southern) Limited (Registered number: 04963605) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
Investments | 7 |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 11 | ( |
) |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
M N Properties (Southern) Limited (Registered number: 04963605) |
Balance Sheet - continued |
31 March 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
M N Properties (Southern) Limited (Registered number: 04963605) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
M N Properties (Southern) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration. |
Goodwill |
Goodwill, being the amounts paid in connection with the acquisition of a business in 2015 and the acquisition of Wey Valley Properties in 2024, are being amortised evenly over their estimated useful lives of five years. |
Intangible fixed assets |
Amortisation is calculated so as to write off the cost of an asset, net of anticipated disposal proceeds, over the estimated useful economic life of that asset as follows: |
Franchise - 20% straight line |
Tangible fixed assets |
Improvements to property | - |
Office equipment | - |
Computer equipment | - |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Investments |
Investments in shares are included at fair value. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
M N Properties (Southern) Limited (Registered number: 04963605) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
5. | INTANGIBLE FIXED ASSETS |
Goodwill | Franchise | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
AMORTISATION |
At 1 April 2023 |
Amortisation for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
6. | TANGIBLE FIXED ASSETS |
Improvements |
to | Office | Computer |
property | equipment | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
M N Properties (Southern) Limited (Registered number: 04963605) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
7. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1 April 2023 |
Disposals | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Cost or valuation at 31 March 2024 is represented by: |
Other |
investments |
£ |
Valuation in 2020 | 1,500 |
Valuation in 2022 | (659 | ) |
Valuation in 2023 | (209 | ) |
Valuation in 2024 | (632 | ) |
8. | DEBTORS |
31.3.24 | 31.3.23 |
£ | £ |
Amounts falling due within one year: |
Amounts owed by associates |
Other debtors |
Prepayments and accrued income |
Amounts falling due after more than one year: |
Amounts owed by associates |
Other debtors |
Aggregate amounts |
M N Properties (Southern) Limited (Registered number: 04963605) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 32,653 | 21,258 |
Other creditors |
Accrued expenses |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Amounts owed to associates | 3,603 | 3,603 |
11. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 April 2023 | ( |
) |
Revaluation in period |
At 31 March 2024 |
12. | OTHER FINANCIAL COMMITMENTS |
Financial commitments, guarantees and contingencies not included in the financial statements |
The company had financial commitments and contingencies not included in the financial statements totalling £3,480 (2023 - £8,551) at the year end. |
MN Properties (Southern) Ltd have guaranteed a loan from National Westminster Bank Plc loan to St Mary's House (Holdings) Ltd for £362,500. |
13. | CLIENT ACCOUNT MONEY |
The company operates client bank accounts on behalf of landlords and tenants. The balances on the client accounts at the balance sheet date amounted to £431,604 (2023- £346,582). |
14. | CONSIDERATION OF THE BASIS OF THE PREPARATION OF THE FINANCIAL STATEMENTS |
The Directors have considered the basis of preparation in the Directors Report. |