REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
MISRIMUNA INVESTMENTS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
MISRIMUNA INVESTMENTS LIMITED |
MISRIMUNA INVESTMENTS LIMITED (REGISTERED NUMBER: 00765240) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MISRIMUNA INVESTMENTS LIMITED |
COMPANY INFORMATION |
for the year ended 30 June 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
One Eastwood |
Harry Weston Road |
Binley Business Park |
Coventry |
CV3 2UB |
MISRIMUNA INVESTMENTS LIMITED (REGISTERED NUMBER: 00765240) |
BALANCE SHEET |
30 June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Revaluation reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
MISRIMUNA INVESTMENTS LIMITED (REGISTERED NUMBER: 00765240) |
BALANCE SHEET - continued |
30 June 2024 |
The financial statements were approved by the director and authorised for issue on |
MISRIMUNA INVESTMENTS LIMITED (REGISTERED NUMBER: 00765240) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Misrimuna Investments Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rental income in respect of the investment properties. |
Tangible fixed assets |
Tangible fixed assets are recognised at cost and subsequently measured under the historical cost model being cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes any direct expenditure incurred to bring the asset to its current location and condition necessary for the asset to work as intended by management. |
Depreciation is provided at the following annual rates in order to write off the cost of each asset over its |
estimated useful life. |
Garden equipment - 15% on reducing balance |
Fixtures and fittings - 20% on reducing balance |
Repairs and maintenance costs are charged to the Income Statement in the period in which they are incurred. |
Any gains and losses on the disposal of tangible fixed assets are recognised in the Income Statement in the year that the disposal takes place. |
Freehold property is shown at fair value, with changes in fair value shown in the revaluation reserve. A market valuation was carried out by the director in 2017. |
No depreciation has been provided on any freehold buildings during the year. The company follows a programme of maintenance of its properties, which includes the reinstatement of the fabric of the buildings, where necessary, in order to maintain them to a high standard. Accordingly, in the opinion of the directors, any element of depreciation would be immaterial and no provision has been made. |
MISRIMUNA INVESTMENTS LIMITED (REGISTERED NUMBER: 00765240) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2024 |
3. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Investment properties |
Investment properties are included in the balance sheet at cost in the year of purchase, and are revalued annually to open market value and the aggregate surplus or deficit is transferred to revaluation reserve. No depreciation is provided in respect of freehold investment properties or on leasehold investment properties where the unexpired lease term exceeds 20 years. This constitutes a departure from the statutory rules requiring fixed assets to be depreciated over their useful economical lives and is necessary to enable the financial statements to give a true and fair view. Depreciation is only one of the many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Garden | and |
property | equipment | fittings | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 July 2023 |
and 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
MISRIMUNA INVESTMENTS LIMITED (REGISTERED NUMBER: 00765240) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2024 |
5. | TANGIBLE FIXED ASSETS - continued |
The freehold investment property is included at open market value made by the director. On an historical cost basis the freehold investment property would have been included at £40,900 (2019 £40,900). |
Cost or valuation at 30 June 2024 is represented by: |
Fixtures |
Freehold | Garden | and |
property | equipment | fittings | Totals |
£ | £ | £ | £ |
Valuation in 2017 | 2,800,000 | - | - | 2,800,000 |
Cost | - | 425 | 5,980 | 6,405 |
2,800,000 | 425 | 5,980 | 2,806,405 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Accruals and deferred income |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
9. | RESERVES |
Revaluation |
reserve |
£ |
At 1 July 2023 |
and 30 June 2024 |
10. | RELATED PARTY DISCLOSURES |
At the year end, a balance was owed to the Company, by an associated company under common |
control, amounted to £746 (2023 - £746). No interest has been charged on this balance. |