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Company registration number: 05447721
(England and Wales)
MBH Properties Limited
Unaudited filleted financial statements
for the year ended
31 December 2024
MBH Properties Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
MBH Properties Limited
Directors and other information
Directors Mr M Holden
Mrs B Holden
Mr I Holden
Mrs C Lister
Secretary Mr M Holden
Company number 05447721
Registered office Blandings
Loudwater Drive
Loudwater
Rickmansworth
WD3 4HJ
Business address Blandings
Loudwater Drive
Loudwater
Rickmansworth
WD3 4HJ
Accountants Griffin Chapman
4 & 5 The Cedars, Apex 12
Old Ipswich Road
Colchester
Essex
CO7 7QR
MBH Properties Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of MBH Properties Limited
Year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MBH Properties Limited for the year ended 31 December 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of MBH Properties Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of MBH Properties Limited and state those matters that we have agreed to state to the board of directors of MBH Properties Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MBH Properties Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that MBH Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MBH Properties Limited. You consider that MBH Properties Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of MBH Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Griffin Chapman
Chartered Accountants
4 & 5 The Cedars, Apex 12
Old Ipswich Road
Colchester
Essex
CO7 7QR
28 April 2025
MBH Properties Limited
Statement of financial position
31 December 2024
2024 2023
Note £ £ £ £
Fixed assets
Investments 5 611,698 1,264,905
_______ _______
611,698 1,264,905
Current assets
Debtors 6 - 2,563
Cash at bank and in hand 1,002,770 248,063
_______ _______
1,002,770 250,626
Creditors: amounts falling due
within one year 7 ( 126,433) ( 111,146)
_______ _______
Net current assets 876,337 139,480
_______ _______
Total assets less current liabilities 1,488,035 1,404,385
Provisions for liabilities ( 20,173) ( 26,742)
_______ _______
Net assets 1,467,862 1,377,643
_______ _______
Capital and reserves
Called up share capital 588,250 588,250
Share premium account 325,651 325,651
Revaluation reserve 101,176 425,624
Profit and loss account 452,785 38,118
_______ _______
Shareholders funds 1,467,862 1,377,643
_______ _______
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 08 April 2025 , and are signed on behalf of the board by:
Mr M Holden
Director
Company registration number: 05447721
MBH Properties Limited
Statement of changes in equity
Year ended 31 December 2024
Called up share capital Share premium account Revaluation reserve Profit and loss account Total
£ £ £ £ £
At 1 January 2023 588,250 325,651 317,392 121,719 1,353,012
Profit/(loss) for the year ( 52,316) ( 52,316)
Other comprehensive income for the year:
Reclassification from revaluation reserve to profit and loss account (15,775) 15,775 -
Revaluation of listed investments - - 83,243 - 83,243
Deferred tax on revaluation - - 40,764 - 40,764
_______ _______ _______ _______ _______
Total comprehensive income for the year - - 108,232 ( 36,541) 71,691
Dividends paid and payable ( 47,060) ( 47,060)
_______ _______ _______ _______ _______
Total investments by and distributions to owners - - - ( 47,060) ( 47,060)
_______ _______ _______ _______ _______
At 31 December 2023 and 1 January 2024 588,250 325,651 425,624 38,118 1,377,643
Profit/(loss) for the year 44,685 44,685
Other comprehensive income for the year:
Reclassification from revaluation reserve to profit and loss account (369,982) 369,982 -
Revaluation of listed investments - - 38,966 - 38,966
Deferred tax on revaluation - - 6,568 - 6,568
_______ _______ _______ _______ _______
Total comprehensive income for the year - - ( 324,448) 414,667 90,219
_______ _______ _______ _______ _______
At 31 December 2024 588,250 325,651 101,176 452,785 1,467,862
_______ _______ _______ _______ _______
MBH Properties Limited
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Blandings, Loudwater Drive, Loudwater, Rickmansworth, WD3 4HJ.
The principal activity of the company is that of a investment company .
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Revenue from rent is recognised with reference to the stage of completion of the rental period; when the amount of revenue can be measured reliably and when it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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 measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in other comprehensive income.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Investments
Shares in group undertakings and participating interests Other investments other than loans Other loans Total
£ £ £ £
Cost or valuation
At 1 January 2024 23,148 1,241,757 20,000 1,284,905
Additions - 7,254 - 7,254
Disposals ( 23,148) ( 676,279) - ( 699,427)
Revaluations - 38,966 - 38,966
_______ _______ _______ _______
At 31 December 2024 - 611,698 20,000 631,698
_______ _______ _______ _______
Impairment
At 1 January 2024 and 31 December 2024 - - 20,000 20,000
_______ _______ _______ _______
Carrying amount
At 31 December 2024 - 611,698 - 611,698
_______ _______ _______ _______
At 31 December 2023 23,148 1,241,757 - 1,264,905
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Other debtors - 2,563
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Taxation and social security 14,975 -
Other creditors 111,458 111,146
_______ _______
126,433 111,146
_______ _______