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Company Registration No. 12709732 (England and Wales)
MQM PROPERTIES LIMITED Unaudited accounts for the year ended 31 July 2024
MQM PROPERTIES LIMITED Unaudited accounts Contents
Page
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MQM PROPERTIES LIMITED Company Information for the year ended 31 July 2024
Directors
Mr Anil Mair Mrs Anita Mair
Company Number
12709732 (England and Wales)
Registered Office
Daniel Consultancy Morritt House 54-60 Station Approach South Ruislip HA4 6SA United Kingdom
Accountants
Daniel Consultancy Morritt House 54-60 Station Approach South Ruislip Ruislip HA4 6SA
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MQM PROPERTIES LIMITED Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
829,894 
829,894 
Current assets
Debtors
801 
801 
Cash at bank and in hand
12,344 
2,176 
13,145 
2,977 
Creditors: amounts falling due within one year
(333,841)
(332,881)
Net current liabilities
(320,696)
(329,904)
Total assets less current liabilities
509,198 
499,990 
Creditors: amounts falling due after more than one year
(523,218)
(523,218)
Net liabilities
(14,020)
(23,228)
Capital and reserves
Called up share capital
300 
300 
Profit and loss account
(14,320)
(23,528)
Shareholders' funds
(14,020)
(23,228)
For the year ending 31 July 2024 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 April 2025 and were signed on its behalf by
Mr Anil Mair Director Company Registration No. 12709732
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MQM PROPERTIES LIMITED Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
MQM PROPERTIES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12709732. The registered office is Daniel Consultancy Morritt House, 54-60 Station Approach, South Ruislip, HA4 6SA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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MQM PROPERTIES LIMITED Notes to the Accounts for the year ended 31 July 2024
Going concern
The director is assessing, on a daily basis, the impact of the significant uncertainty arising. Whilst the director appreciates there is a significant uncertainty surrounding the future economic climate, the company is well placed to address these impacts. The director is satisfied that the company will be able to satisfy its financial obligations for at least 12 months from the date of signature of the financial statements, which have been prepared on the going concern basis.
4
Investment property
2024 
£ 
Fair value at 1 August 2023
829,894 
At 31 July 2024
829,894 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
801 
801 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
1,132 
1,081 
Loans from directors
332,349 
331,749 
Accruals
360 
51 
333,841 
332,881 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Other creditors
523,218 
523,218 
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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