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REGISTERED NUMBER: 10669971 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

MANAGED PROPERTY LETS LIMITED

MANAGED PROPERTY LETS LIMITED (REGISTERED NUMBER: 10669971)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MANAGED PROPERTY LETS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs B K Dhillon
S S Dhillon





REGISTERED OFFICE: 38 Herald Way
Hinckley
LE10 2NX





REGISTERED NUMBER: 10669971 (England and Wales)

MANAGED PROPERTY LETS LIMITED (REGISTERED NUMBER: 10669971)

BALANCE SHEET
31 MARCH 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,524,601 1,013,359

CURRENT ASSETS
Debtors 5 6,773 14,174
Cash at bank 8,321 100,866
15,094 115,040
CREDITORS
Amounts falling due within one year 6 1,435,555 1,035,971
NET CURRENT LIABILITIES (1,420,461 ) (920,931 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

104,140

92,428

CREDITORS
Amounts falling due after more than one
year

7

17,488

22,809
NET ASSETS 86,652 69,619

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 86,552 69,519
SHAREHOLDERS' FUNDS 86,652 69,619

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

MANAGED PROPERTY LETS LIMITED (REGISTERED NUMBER: 10669971)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2024 and were signed on its behalf by:





S S Dhillon - Director


MANAGED PROPERTY LETS LIMITED (REGISTERED NUMBER: 10669971)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Managed Property Lets 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 15% on reducing balance

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 1 (2023 - NIL ) .

MANAGED PROPERTY LETS LIMITED (REGISTERED NUMBER: 10669971)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 1,003,967 9,003 7,500 1,020,470
Additions 511,100 1,359 - 512,459
At 31 March 2024 1,515,067 10,362 7,500 1,532,929
DEPRECIATION
At 1 April 2023 - 2,440 4,671 7,111
Charge for year - 792 425 1,217
At 31 March 2024 - 3,232 5,096 8,328
NET BOOK VALUE
At 31 March 2024 1,515,067 7,130 2,404 1,524,601
At 31 March 2023 1,003,967 6,563 2,829 1,013,359

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Other debtors 6,773 14,174

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade creditors 244 180
Tax 5,106 6,758
Social security and other taxes 2,733 -
Other creditors 536 5,625
Credit card account 1,402 5,667
Directors' current accounts 1,424,514 1,016,721
Accrued expenses 1,020 1,020
1,435,555 1,035,971

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£    £   
Bank loans (see note 8) 17,488 22,809

MANAGED PROPERTY LETS LIMITED (REGISTERED NUMBER: 10669971)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. LOANS

An analysis of the maturity of loans is given below:

31/3/24 31/3/23
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 17,488 22,809

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/24 31/3/23
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 April 2023 69,519
Profit for the year 21,033
Dividends (4,000 )
At 31 March 2024 86,552