REGISTERED NUMBER: 04792504 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

MXT PROPERTIES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M D T Young

REGISTERED OFFICE:

Unit 2.02

High Weald House

Glovers End

Bexhill

East Sussex

TN39 5ES

REGISTERED NUMBER:

04792504 (England and Wales)

ACCOUNTANTS:

Acuity Professional Partnership LLP

Unit 2.02 High Weald House

Glovers End

Bexhill

East Sussex

TN39 5ES

FIXED ASSETS

Tangible assets

4

8,686

11,588

Investment property

5

1,206,000

1,206,000

1,214,686

1,217,588

CURRENT ASSETS

Debtors

6

6,746

7,290

Cash at bank

2,853

-

9,599

7,290

CREDITORS

Amounts falling due within one year

7

285,100

286,699

NET CURRENT LIABILITIES

(275,501

)

(279,409

)

TOTAL ASSETS LESS CURRENT LIABILITIES

939,185

938,179

CREDITORS

Amounts falling due after more than one year

8

(690,900

)

(681,156

)

PROVISIONS FOR LIABILITIES

(24,963

)

(24,963

)

NET ASSETS

223,322

232,060

CAPITAL AND RESERVES

Called up share capital

9

100

100

Special reserve

10

417,211

417,211

Retained earnings

10

(193,989

)

(185,251

)

SHAREHOLDERS' FUNDS

223,322

232,060

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

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

The director acknowledges his 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.

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 director and authorised for issue on 2 May 2025 and were signed by:

Mr M D T Young - Director

1.	STATUTORY INFORMATION

MXT Properties 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 as modified by the revaluation of certain assets.

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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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 statement of financial position date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1 August 2023

and 31 July 2024

4,343

826

15,720

399

21,288

Depreciation

At 1 August 2023

3,950

826

4,584

340

9,700

Charge for year

99

-

2,784

19

2,902

At 31 July 2024

4,049

826

7,368

359

12,602

Net book value

At 31 July 2024

294

-

8,352

40

8,686

At 31 July 2023

393

-

11,136

59

11,588

5.	INVESTMENT PROPERTY

Total

£

Fair value

At 1 August 2023

and 31 July 2024

1,206,000

Net book value

At 31 July 2024

1,206,000

At 31 July 2023

1,206,000

Fair value at 31 July 2024 is represented by:

£

Valuation in 2013

204,074

Valuation in 2019

148,600

Valuation in 2021

89,500

Cost

763,826

1,206,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

2,941

6,121

Other debtors

3,805

1,169

6,746

7,290

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

1,873

3,504

Hire purchase contracts

2,620

2,620

Trade creditors

5,728

3,090

Other creditors

274,879

277,485

285,100

286,699

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

686,097

673,733

Hire purchase contracts

4,803

7,423

690,900

681,156

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Special reserve

The special reserve comprise the balance of fair values relating to the freehold property net of deferred tax on the gain. This reserve is non-distributable.

Retained earnings

The retained earnings comprise the balance of profits accumulated over the life of the company. This reserve is distributable.