MES Investments Limited 10020777 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is Buying and selling of own real estate Digita Accounts Production Advanced 6.30.9574.0 true true 10020777 2023-03-01 2024-02-29 10020777 2024-02-29 10020777 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 10020777 core:Non-currentFinancialInstruments 2024-02-29 10020777 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 10020777 bus:SmallEntities 2023-03-01 2024-02-29 10020777 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 10020777 bus:FilletedAccounts 2023-03-01 2024-02-29 10020777 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 10020777 bus:RegisteredOffice 2023-03-01 2024-02-29 10020777 bus:Director1 2023-03-01 2024-02-29 10020777 bus:Director2 2023-03-01 2024-02-29 10020777 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 10020777 core:RevaluationReserve core:LandBuildings 2023-03-01 2024-02-29 10020777 core:LandBuildings 2023-03-01 2024-02-29 10020777 countries:AllCountries 2023-03-01 2024-02-29 10020777 2023-02-28 10020777 core:CostValuation 2023-02-28 10020777 2022-03-01 2023-02-28 10020777 2023-02-28 10020777 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 10020777 core:Non-currentFinancialInstruments 2023-02-28 10020777 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 iso4217:GBP xbrli:pure

Registration number: 10020777

MES Investments Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

MES Investments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

MES Investments Limited

Company Information

Directors

Kelly Seabrook

Matthew Robert Saunders

Registered office

19 Linden Avenue
Ruislip
England
HA4 8TW

Accountants

MG Accountants & Tax Advisers Ltd
Chartered Accountant
166 College Road
Harrow
HA1 1BH

 

MES Investments Limited

(Registration number: 10020777)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,247,587

1,175,757

Investments

5

(260)

(260)

 

1,247,327

1,175,497

Current assets

 

Cash at bank and in hand

 

9,258

28,420

Creditors: Amounts falling due within one year

6

(291,479)

(305,636)

Net current liabilities

 

(282,221)

(277,216)

Total assets less current liabilities

 

965,106

898,281

Creditors: Amounts falling due after more than one year

6

(857,075)

(867,017)

Provisions for liabilities

(13,100)

-

Net assets

 

94,931

31,264

Capital and reserves

 

Called up share capital

20

20

Revaluation reserve

39,300

(19,431)

Retained earnings

55,611

50,675

Shareholders' funds

 

94,931

31,264

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 November 2024 and signed on its behalf by:
 

 

MES Investments Limited

(Registration number: 10020777)
Balance Sheet as at 29 February 2024

.........................................
Kelly Seabrook
Director

.........................................
Matthew Robert Saunders
Director

 

MES Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
19 Linden Avenue
Ruislip
England
HA4 8TW
England

These financial statements were authorised for issue by the Board on 25 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

MES Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

Asset subject to fair value adjustment

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

MES Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Investment properties

2024
£

At 1 March

1,175,757

Fair value adjustments

71,830

At 29 February

1,247,587

5

Investments

2024
£

2023
£

Investments in joint ventures

(260)

(260)

 

MES Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Joint ventures

£

Cost

At 1 March 2023

(260)

Provision

Carrying amount

At 29 February 2024

(260)

At 28 February 2023

(260)

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

1,158

6,535

Accruals and deferred income

4,800

4,800

Other creditors

285,521

294,301

291,479

305,636

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

857,075

867,017

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

58,731

58,731

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

 

MES Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

857,075

867,017

9

Related party transactions

During the year company made the following related party transactions:

(Director)
At the balance sheet date, the amount due to the Director was £279,520 (2023 was £294,301).