MJH PROPERTY MANAGEMENT LIMITED

Company Registration Number:
04017516 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2024

Period of accounts

Start date: 01 July 2023

End date: 30 June 2024

MJH PROPERTY MANAGEMENT LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2024

Balance sheet
Notes

MJH PROPERTY MANAGEMENT LIMITED

Balance sheet

As at 30 June 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 8,627,571 8,151,623
Investments: 4 91 91
Total fixed assets: 8,627,662 8,151,714
Current assets
Debtors:   5,041 792
Cash at bank and in hand: 186,979 1,003,755
Total current assets: 192,020 1,004,547
Creditors: amounts falling due within one year:   (174,956) (191,278)
Net current assets (liabilities): 17,064 813,269
Total assets less current liabilities: 8,644,726 8,964,983
Creditors: amounts falling due after more than one year: 5 (5,254,938) (6,188,480)
Provision for liabilities: (336,103) (239,045)
Total net assets (liabilities): 3,053,685 2,537,458
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 3,053,683 2,537,456
Shareholders funds: 3,053,685 2,537,458

The notes form part of these financial statements

MJH PROPERTY MANAGEMENT LIMITED

Balance sheet statements

For the year ending 30 June 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 26 March 2025
and signed on behalf of the board by:

Name: Mr M J Horgan
Status: Director

The notes form part of these financial statements

MJH PROPERTY MANAGEMENT LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Rental income is recognised at the fair value of the consideration receivable for investment properties let out.

Tangible fixed assets and depreciation policy

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: Fixtures and fittings 20% reducing balance Computer equipment 33.33% 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 the profit and loss account.

Valuation and information policy

Investment properties Investment properties, which are properties held to earn rentals and/or for capital appreciation, are initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently they are measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account. Fixed asset investments Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in the profit and loss account.

Other accounting policies

Financial instruments The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Taxation The tax expense represents the sum of the tax currently payable and deferred tax. Current tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. Deferred tax Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

MJH PROPERTY MANAGEMENT LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

2. Employees

2024 2023
Average number of employees during the period 1 1

MJH PROPERTY MANAGEMENT LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Tangible Assets

Total
Cost £
At 01 July 2023 8,205,606
Additions 207,455
Revaluations 293,031
At 30 June 2024 8,706,092
Depreciation
At 01 July 2023 53,983
Charge for year 24,538
At 30 June 2024 78,521
Net book value
At 30 June 2024 8,627,571
At 30 June 2023 8,151,623

Investment properties comprise of residential buildings. The fair value of the investment properties has been determined by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as £6,814,714 (2023 - £6,633,606).

MJH PROPERTY MANAGEMENT LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Fixed investments

Fixed asset investments Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in the profit and loss account.

MJH PROPERTY MANAGEMENT LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

5. Creditors: amounts falling due after more than one year note

The bank loans are secured by a fixed charge over the investment properties of the company. The aggregate amount of loans for which security has been given amounted to £4,214,370 (2023 - £4,661,141).

MJH PROPERTY MANAGEMENT LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

6. Related party transactions

Name of the related party:
Relationship:
Director
Description of the Transaction: At the balance sheet date, £1,050,991 (2023 - £1,507,768) was owed to the director, who is the sole shareholder. The unsecured loan is provided free of any interest charge and without any repayment terms.
£
Balance at 01 July 2023 1,507,768
Balance at 30 June 2024 1,050,991
Name of the related party:
Relationship:
Related party company
Description of the Transaction: At the balance sheet date £Nil (2023 - £22,000) was owed to a related party company. The company is controlled by the director. The unsecured loan is provided free of any interest charge and without any repayment terms.
£
Balance at 01 July 2023 22,000
Balance at 30 June 2024 0