Acorah Software Products - Accounts Production 16.1.200 false true true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 05456210 Mr Michael Brown iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05456210 2023-05-31 05456210 2024-05-31 05456210 2023-06-01 2024-05-31 05456210 frs-core:CurrentFinancialInstruments 2024-05-31 05456210 frs-core:Non-currentFinancialInstruments 2024-05-31 05456210 frs-core:ShareCapital 2024-05-31 05456210 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 05456210 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 05456210 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 05456210 frs-bus:SmallEntities 2023-06-01 2024-05-31 05456210 frs-bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 05456210 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 05456210 frs-bus:OrdinaryShareClass1 2023-06-01 2024-05-31 05456210 frs-bus:OrdinaryShareClass1 2024-05-31 05456210 frs-core:DeferredTaxation 2023-06-01 2024-05-31 05456210 frs-core:DeferredTaxation 2023-05-31 05456210 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-05-31 05456210 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-05-31 05456210 frs-bus:Director1 2023-06-01 2024-05-31 05456210 frs-countries:EnglandWales 2023-06-01 2024-05-31 05456210 2022-05-31 05456210 2023-05-31 05456210 2022-06-01 2023-05-31 05456210 frs-core:CurrentFinancialInstruments 2023-05-31 05456210 frs-core:Non-currentFinancialInstruments 2023-05-31 05456210 frs-core:ShareCapital 2023-05-31 05456210 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 05456210 frs-bus:OrdinaryShareClass1 2022-06-01 2023-05-31 05456210 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-05-31
Registered number: 05456210
Michael Brown Properties Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of Michael Brown Properties Ltd For The Year Ended 31 May 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Michael Brown Properties Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of Michael Brown Properties Ltd , as a body, in accordance with the terms of our engagement letter dated 20 February 2024. Our work has been undertaken solely to prepare for your approval the accounts of Michael Brown Properties Ltd and state those matters that we have agreed to state to the director of Michael Brown Properties Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Michael Brown Properties Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Michael Brown Properties Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Michael Brown Properties Ltd . You consider that Michael Brown Properties Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Michael Brown Properties Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
17th January 2025
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Page 1
Page 2
Balance Sheet
Registered number: 05456210
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 180,000 469,626
180,000 469,626
CURRENT ASSETS
Debtors 5 3,521 51,181
Cash at bank and in hand 2,460 1,083
5,981 52,264
Creditors: Amounts Falling Due Within One Year 6 (430,696 ) (396,591 )
NET CURRENT ASSETS (LIABILITIES) (424,715 ) (344,327 )
TOTAL ASSETS LESS CURRENT LIABILITIES (244,715 ) 125,299
Creditors: Amounts Falling Due After More Than One Year 7 (190,911 ) (424,944 )
NET LIABILITIES (435,626 ) (299,645 )
CAPITAL AND RESERVES
Called up share capital 10 2 2
Fair value reserve 11 (28,344 ) (24,714 )
Profit and Loss Account (407,284 ) (274,933 )
SHAREHOLDERS' FUNDS (435,626) (299,645)
Page 2
Page 3
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors on 17 January 2025 and were signed on its behalf by:
Mr Michael Brown
Director
17th January 2025
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Michael Brown Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05456210 . The registered office is Unit 3, Building 2, The Colony Wilmslow, Altrincham Road, Wilmslow, Cheshire, SK9 4LY.

The company's principal place of business is Hillside, Macclesfield Road, Alderley Edge, Cheshire, SK9 7BW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

2.2. Going Concern Disclosure
The accounts have been prepared on a going concern basis. This assumption may not be valid since at the balance sheet date the company has net liabilities of £435,626 (2023: £299,645). The validity of the going concern assumption therefore depends on the continued support of the directors, suppliers and the companies bankers and other providers of finance
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rental property.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives.

There is a floating charge against the company's fixed assets.
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

The company has taxable losses of £179,413 to be carried forward and utilized against future profits.
Page 4
Page 5
2.7. Deferred Tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet 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. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Investment Property
2024
£
Fair Value
As at 1 June 2023 469,626
Disposals (295,626 )
Revaluations 6,000
As at 31 May 2024 180,000
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 3,521 51,181
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 10,648 10,648
Other creditors 420,048 385,940
Taxation and social security - 3
430,696 396,591
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 190,911 424,944
8. Secured Creditors
The following secured debts are included within creditors:
2024 2023
£ £
Bank loans and overdrafts 201,560 435,592
Page 5
Page 6
9. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 June 2023 (45,575 ) (45,575)
Deferred taxation 45,575 45,575
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
2 Ordinary Shares of £ 1 each 2 2
11. Reserves
Fair Value Reserve
£
As at 1 June 2023 (24,714 )
Movements in fair value reserve (3,630)
As at 31 May 2024 (28,344 )
Page 6