Company registration number 10855930 (England and Wales)
MP ESTATE SOLUTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
MP ESTATE SOLUTIONS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
The following pages do not form part of the statutory financial statements
MP ESTATE SOLUTIONS LIMITED
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
4
205,000
100,000
Current assets
Debtors
5
389
-
0
Cash at bank and in hand
787
4,877
1,176
4,877
Creditors: amounts falling due within one year
6
(103,097)
(21,419)
Net current liabilities
(101,921)
(16,542)
Total assets less current liabilities
103,079
83,458
Creditors: amounts falling due after more than one year
7
(65,737)
(65,737)
Provisions for liabilities
(6,300)
-
0
Net assets
31,042
17,721
Capital and reserves
Called up share capital
10
100
100
Non-distributable reserve
11
27,082
-
0
Distributable profit and loss reserves
3,860
17,621
Total equity
31,042
17,721

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

MP ESTATE SOLUTIONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2024
31 July 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 18 February 2025
Mr M J Le Berre
Director
Company registration number 10855930 (England and Wales)
MP ESTATE SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
1
Accounting policies
Company information

MP Estate Solutions Limited is a private company limited by shares incorporated in England and Wales. The registered office is 35 Westgate, Huddersfield, West Yorkshire, HD1 1PA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents rent receivable and is measured at the fair value of the consideration received or receivable.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit for the current or past reporting periods. If is measured at the amount expected to be paid or recovered 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 where transactions or events have occurred at the date that will result in an obligation to pay more, or a right to pay less or to receive more tax.

 

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

MP ESTATE SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
4
Investment property
2024
£
Fair value
At 1 August 2023
100,000
Additions
71,618
Revaluations
33,382
At 31 July 2024
205,000

Investment property is valued by the director, Mr M Le Berre.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
389
-
0
6
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
-
0
568
Other creditors
102,377
20,371
Accruals and deferred income
720
480
103,097
21,419
MP ESTATE SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
7
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
65,737
65,737
8
Secured liabilities
2024
2023
£
£

Aggregate amount of secured liabilities

65,737
65,737
9
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Tax losses
(2,300)
-
Revaluation of investment property
8,600
-
6,300
-
2024
Movements in the year:
£
Liability at 1 August 2023
-
Charge to profit or loss
6,300
Liability at 31 July 2024
6,300
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
MP ESTATE SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 6 -
11
Non-distributable reserve
2024
2023
£
£
At the beginning of the year
-
-
Non distributable profits in the year
27,082
-
At the end of the year
27,082
-
12
Related party transactions

Included in other creditors is a director's loan of £17,377 (2023: £16,371) which is unsecured, repayable on demand and currently interest free.

 

Included in creditors is a loan due to a company controlled by the director in the amount of £85,000 (2023: £4,000). The loan is unsecured, repayable on demand and currently interest free.

 

The company is controlled by the director.

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