Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31Property development2false2023-06-01false2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03832231 2023-06-01 2024-05-31 03832231 2022-06-01 2023-05-31 03832231 2024-05-31 03832231 2023-05-31 03832231 c:Director1 2023-06-01 2024-05-31 03832231 d:Buildings 2023-06-01 2024-05-31 03832231 d:Buildings 2024-05-31 03832231 d:Buildings 2023-05-31 03832231 d:Buildings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 03832231 d:FurnitureFittings 2023-06-01 2024-05-31 03832231 d:FurnitureFittings 2024-05-31 03832231 d:FurnitureFittings 2023-05-31 03832231 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 03832231 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 03832231 d:CurrentFinancialInstruments 2024-05-31 03832231 d:CurrentFinancialInstruments 2023-05-31 03832231 d:Non-currentFinancialInstruments 2024-05-31 03832231 d:Non-currentFinancialInstruments 2023-05-31 03832231 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 03832231 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 03832231 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 03832231 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 03832231 d:ShareCapital 2024-05-31 03832231 d:ShareCapital 2023-05-31 03832231 d:RevaluationReserve 2024-05-31 03832231 d:RevaluationReserve 2023-05-31 03832231 d:RetainedEarningsAccumulatedLosses 2024-05-31 03832231 d:RetainedEarningsAccumulatedLosses 2023-05-31 03832231 c:OrdinaryShareClass1 2023-06-01 2024-05-31 03832231 c:OrdinaryShareClass1 2024-05-31 03832231 c:OrdinaryShareClass1 2023-05-31 03832231 c:FRS102 2023-06-01 2024-05-31 03832231 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 03832231 c:FullAccounts 2023-06-01 2024-05-31 03832231 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 03832231 2 2023-06-01 2024-05-31 03832231 5 2023-06-01 2024-05-31 03832231 6 2023-06-01 2024-05-31 03832231 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 03832231









MPM PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
MPM PROPERTIES LIMITED
REGISTERED NUMBER: 03832231

BALANCE SHEET
AS AT 31 MAY 2024

2024
As restated 2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
331,785
322,861

Investments
 5 
15
10

  
331,800
322,871

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 6 
123,715
158,328

Bank and cash balances
  
16,121
130,089

  
139,836
288,417

CURRENT LIABILITIES
  

Creditors: amounts falling due within one year
 7 
(513,923)
(510,004)

NET CURRENT LIABILITIES
  
 
 
(374,087)
 
 
(221,587)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
(42,287)
101,284

Creditors: amounts falling due after more than one year
 8 
(148,048)
(163,486)

  

NET LIABILITIES
  
(190,335)
(62,202)


CAPITAL AND RESERVES
  

Called up share capital 
 9 
8
8

Revaluation reserve
  
44,504
34,504

Profit and loss account
  
(234,847)
(96,714)

  
(190,335)
(62,202)


Page 1

 
MPM PROPERTIES LIMITED
REGISTERED NUMBER: 03832231
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






R Mutty
Director

Date: 16 January 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
MPM PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


GENERAL INFORMATION

MPM Properties Limited is a private company limited by shares and incorporated in England and Wales. It's registered office is 3 Station Court, Great Shelford, Cambridge, CB22 5NE.
The presentational and functional currency is GBP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

EXEMPTION FROM PREPARING CONSOLIDATED FINANCIAL STATEMENTS

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

GOING CONCERN

The Company incurred a loss for the period and as at 31 May 2024 had net liabilities of £188,009 (2023 - £62,202). The financial statements are prepared on the going concern basis on the assumption that the Company will continue to receive financial support from the shareholders to provide sufficient funds to enable it to meet its liabilities as they fall due. 

  
2.4

TURNOVER

Turnover comprises of management fees relating to property development and is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.5

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
MPM PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.6
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2%
Fixtures and fittings
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

REVALUATION OF TANGIBLE FIXED ASSETS

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.8

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment. The value of such investments are kept under review by the directors.

 
2.9

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
MPM PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.11

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


EMPLOYEES



The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
MPM PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


TANGIBLE FIXED ASSETS





Freehold property
Fixtures and fittings
Total

£
£
£



COST OR VALUATION


At 1 June 2023
320,000
5,404
325,404


Revaluations
10,000
-
10,000



At 31 May 2024

330,000
5,404
335,404



DEPRECIATION


At 1 June 2023
-
2,543
2,543


Charge for the year on owned assets
-
1,076
1,076



At 31 May 2024

-
3,619
3,619



NET BOOK VALUE



At 31 May 2024
330,000
1,785
331,785



At 31 May 2023
320,000
2,861
322,861


5.


FIXED ASSET INVESTMENTS





Investments in associates

£



COST OR VALUATION


At 1 June 2023
10


Additions
7


Disposals
(2)



At 31 May 2024
15




Page 6

 
MPM PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


DEBTORS

2024
As restated 2023
£
£

Trade debtors
735
-

Amounts owed by group undertakings
19,763
21,860

Other debtors
83,739
121,306

Prepayments and accrued income
19,478
15,162

123,715
158,328



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank loans
17,994
17,785

Other loans
49,406
64,914

Trade creditors
12,475
7,817

Other creditors
385,375
379,550

Accruals and deferred income
48,673
39,938

513,923
510,004


Bank loans of £7,994 (2023 - £7,785) are secured by a fixed and floating charge
Bank loans also includes a Government backed 'bounce back' loan of £10,000 (2023 - £10,000), which was drawn down in May 2020. This loan is 100% guaranteed by the Government and any fees plus the interest incurred during the first 12 months are paid for by the Government.


8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
148,048
163,486

148,048
163,486


Bank loans of £138,048 (2023 - £143,486) are secured by a fixed and floating charge.
Bank loans also includes a Government backed 'bounce back' loan of £10,000 (2023 - £20,000), which was drawn down in May 2020. This loan is 100% guaranteed by the Government and any fees plus the interest incurred during the first 12 months are paid for by the Government.

Page 7

 
MPM PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



8 (2023 - 8) Ordinary shares of £1 each
8
8



10.


PRIOR YEAR ADJUSTMENT

A decision was made during the year not to charge interest on an intercompany loan causing interest received in 2023 to be reduced by £1,499 with this same reduction being seen in the company's reserves. 

 
Page 8