Company registration number 12026425 (England and Wales)
MARY ANN HORGAN PROPERTIES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
MARY ANN HORGAN PROPERTIES LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 4
MARY ANN HORGAN PROPERTIES LTD (REGISTERED NUMBER: 12026425)
BALANCE SHEET
AS AT 31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
316,353
318,034
Current assets
Debtors
4
815
Cash at bank and in hand
25,598
25,317
26,413
25,317
Creditors: amounts falling due within one year
5
(192,310)
(184,996)
Net current liabilities
(165,897)
(159,679)
Total assets less current liabilities
150,456
158,355
Creditors: amounts falling due after more than one year
6
(166,253)
(166,253)
Net liabilities
(15,797)
(7,898)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(15,798)
(7,899)
Total equity
(15,797)
(7,898)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
MARY ANN HORGAN PROPERTIES LTD (REGISTERED NUMBER: 12026425)
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024
31 May 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 17 February 2025
Ms M A Horgan
Director
MARY ANN HORGAN PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information
Mary Ann Horgan Properties Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 88 Sydney Road, London, England, N10 2RN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover represents rental consideration received net of fees deducted at source.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
2% straight line on buildings, land is not depreciated
Plant and equipment
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
MARY ANN HORGAN PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Total
£
£
£
Cost
At 1 June 2023 and 31 May 2024
318,991
2,405
321,396
Depreciation and impairment
At 1 June 2023
2,400
962
3,362
Depreciation charged in the year
1,200
481
1,681
At 31 May 2024
3,600
1,443
5,043
Carrying amount
At 31 May 2024
315,391
962
316,353
At 31 May 2023
316,591
1,443
318,034
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
815
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
192,310
184,996
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
166,253
166,253
7
Financial commitments, guarantees and contingent liabilities
The mortgage is secured against the freehold property to which they relate and its subject to a negative pledge.