REGISTERED NUMBER: |
MGR PROPERTY MANAGEMENT LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
REGISTERED NUMBER: |
MGR PROPERTY MANAGEMENT LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
MGR PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 02751554) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
MGR PROPERTY MANAGEMENT LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
MGR PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 02751554) |
BALANCE SHEET |
30 JUNE 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Revaluation reserve | 7 |
Profit and loss reserve |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
MGR PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 02751554) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
1. | STATUTORY INFORMATION |
MGR Property Management Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. |
The presentation currency of the financial statements is the Pound Sterling (£) |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the amount receivable for goods and services provided during the year, excluding VAT. |
Tangible fixed assets |
Freehold property | - |
Computer equipment | - |
In accordance with the FRS102: |
(i) investment properties are revalued with sufficient regularity to ensure the carrying value does not differ materially from the fair value at the end of the reporting period: |
(ii) no depreciation is provided in respect of investment properties. |
The directors consider that this accounting policy results in the accounts giving 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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
MGR PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 02751554) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
4. | TANGIBLE FIXED ASSETS |
Freehold | Computer |
property | equipment | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 July 2023 |
and 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
and 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
Cost or valuation at 30 June 2024 is represented by: |
Freehold | Computer |
property | equipment | Totals |
£ | £ | £ |
Valuation in 2001 | 12,560 | - | 12,560 |
Cost | 11,440 | 400 | 11,840 |
24,000 | 400 | 24,400 |
If the investment property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 11,440 | 11,440 |
The investment property has been valued on a fair value basis on 30 June 2024 by the directors . |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
Directors' current accounts | 147 | 62 |
Accrued expenses |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal value: | 2024 | 2023 |
£ | £ |
100 | Ordinary | £1 | 100 | 100 |
MGR PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 02751554) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
7. | RESERVES |
Revaluation |
reserve |
£ |
At 1 July 2023 |
and 30 June 2024 |