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Company Registration No. 09746727 (England and Wales)
Minihan Properties Limited Unaudited accounts for the year ended 31 July 2024
Minihan Properties Limited Unaudited accounts Contents
Page
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Minihan Properties Limited Company Information for the year ended 31 July 2024
Director
F Minihan
Company Number
09746727 (England and Wales)
Registered Office
210 COAL CLOUGH LANE BURNLEY LANCASHIRE BB11 4NJ ENGLAND
Accountants
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT
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Minihan Properties Limited Accountants' report
Accountants' report to the director of Minihan Properties Limited on the preparation of the unaudited statutory accounts for the year ended 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Minihan Properties Limited for the year ended 31 July 2024 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Minihan Properties Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Minihan Properties Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Minihan Properties Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Minihan Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Minihan Properties Limited. You consider that Minihan Properties Limited 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 Minihan Properties Limited. 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 statutory accounts.
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT 21 January 2025
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Minihan Properties Limited Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
190,000 
270,000 
Current assets
Debtors
12,470 
892 
Cash at bank and in hand
3,071 
586 
15,541 
1,478 
Creditors: amounts falling due within one year
(19,092)
(28,751)
Net current liabilities
(3,551)
(27,273)
Total assets less current liabilities
186,449 
242,727 
Creditors: amounts falling due after more than one year
(165,297)
(221,657)
Provisions for liabilities
Deferred tax
(7,712)
(1,151)
Net assets
13,440 
19,919 
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
46,268 
64,493 
Profit and loss account
(32,928)
(44,674)
Shareholders' funds
13,440 
19,919 
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 February 2025 and were signed on its behalf by
F Minihan Director Company Registration No. 09746727
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Minihan Properties Limited Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
Minihan Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 09746727. The registered office is 210 COAL CLOUGH LANE, BURNLEY, LANCASHIRE, BB11 4NJ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Minihan Properties Limited Notes to the Accounts for the year ended 31 July 2024
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 August 2023
8,258 
At 31 July 2024
8,258 
Depreciation
At 1 August 2023
8,258 
At 31 July 2024
8,258 
Net book value
At 31 July 2024
- 
5
Investment property
2024 
£ 
Fair value at 1 August 2023
270,000 
Disposals
(90,000)
Net gain from fair value adjustments
10,000 
At 31 July 2024
190,000 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
11,795 
- 
Other debtors
675 
892 
12,470 
892 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Amounts owed to group undertakings and other participating interests
- 
1,710 
Other creditors
17,320 
24,600 
Loans from directors
- 
656 
Accruals
1,772 
1,785 
19,092 
28,751 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
128,150 
171,176 
Other creditors
37,147 
50,481 
165,297 
221,657 
Aggregate of amounts that fall due for payment after five years
120,463 
161,865 
Included in long term creditors are bank loans secured on investment properties. Personal guarantees have been provided.
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Minihan Properties Limited Notes to the Accounts for the year ended 31 July 2024
9
Deferred taxation
2024 
2023 
£ 
£ 
Revaluation of investment property
15,423 
12,923 
Tax losses carried forward
(7,711)
(11,772)
7,712 
1,151 
2024 
2023 
£ 
£ 
Provision at start of year
1,151 
(13,180)
Charged to the profit and loss account
6,561 
14,331 
Provision at end of year
7,712 
1,151 
Comparatives have been restated for deferred tax on revaluation of investment properties, and deferred tax asset arising on taxable losses.
10
Transactions with related parties
At the balance sheet date, the company owed a total of £16,645 (2023 - £23,680) to related companies. At the balance sheet date the company was owed £11,795 (2023 - £1,710 creditor) by a subsidiary. These balances are interest-free and repayable on demand.
11
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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