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Registered number: 11983156









MM INVESTMENTS (NO. 1) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
MM INVESTMENTS (NO. 1) LIMITED
REGISTERED NUMBER: 11983156

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024


2024

2023
Note
£
£
£
£

Fixed assets
  

Investments
 4 
55,580
55,580

  
55,580
55,580

  

Creditors: amounts falling due within one year
 5 
(55,578)
(55,578)

Net current liabilities
  
 
 
(55,578)
 
 
(55,578)

  

Net assets
  
2
2


Capital and reserves
  

Called up share capital 
 6 
2
2

  
2
2


Page 1

 
MM INVESTMENTS (NO. 1) LIMITED
REGISTERED NUMBER: 11983156
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2024

For the year ended 31 May 2024 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

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 Statement of comprehensive income 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 on 24 February 2025.




N J Morrison
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
MM INVESTMENTS (NO. 1) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

MM Investments (No. 1) Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 21-23 Easton Street, High Wycombe, Buckinghamshire, United Kingdom, HP11 1NT.
The company specialises in investment in real estate.    

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.

 
2.2

Going concern

The financial  statements have been prepared on a going concern basis, notwithstanding the net current liabilities of £55,578 (2023 - £55,578) at the Statement of financial position date. The directors have provided an undertaking that they will support the company for the foreseeable future to enable the company's liabilities to be met as they fall due, and specifically for a period of not less than 12 months from the date of signing of these financial statements. On this basis, the directors believe that the preparation of the accounts on a going concern basis is appropriate.

 
2.3

Investment property

Investment properties are held to earn rentals or for capital appreciation, or both. Investment properties are initially measured at cost. At each Statement of financial position date, properties are measured at fair value with changes in fair value recognised in the Statement of comprehensive income.

 
2.4

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 3

 
MM INVESTMENTS (NO. 1) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Investment property





Investment property

£



Valuation


At 1 June 2023
55,580



At 31 May 2024
55,580






Net book value



At 31 May 2024
55,580



At 31 May 2023
55,580

The 2024 valuation was made by the directors, on an open market value, for existing use basis.


5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
55,578
55,578

55,578
55,578



6.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 Ordinary shares of £1 each
2
2



7.


Contingent liabilities

The company has a contingent liability in respect of unpaid service charges and ground rent. At the year-end date, it is uncertain whether the liability will crystalise. If it does, then the company will seek recompense from the tenant.

Page 4

 
MM INVESTMENTS (NO. 1) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

8.


Related party transactions

Included within other creditors is an amount owing to the directors of £55,578 (2023 - £55,578).


9.


Controlling party

The company is controlled by the directors.

Page 5