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Registration number: 10676132

INM&MZH Properties Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Period from 31 March 2023 to 29 March 2024

 

INM&MZH Properties Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

INM&MZH Properties Ltd

Company Information

Directors

Mr Samuel Barnaby Huglin

Mrs Loretta Goldsmith

Registered office

1st Floor
8/12 London Street
Southport
Merseyside
PR9 0UE

Accountants

GMR Accountants Ltd
1st Floor
8/12 London Street
Southport
Merseyside
PR9 0UE

 

INM&MZH Properties Ltd

(Registration number: 10676132)
Balance Sheet as at 29 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

827,798

812,222

Current assets

 

Debtors

5

77,276

33,598

Cash at bank and in hand

 

4,680

20,017

 

81,956

53,615

Creditors: Amounts falling due within one year

6

(702,402)

(661,109)

Net current liabilities

 

(620,446)

(607,494)

Total assets less current liabilities

 

207,352

204,728

Creditors: Amounts falling due after more than one year

6

(7,167)

(12,698)

Net assets

 

200,185

192,030

Capital and reserves

 

Called up share capital

2

2

Retained earnings

200,183

192,028

Shareholders' funds

 

200,185

192,030

For the financial period ending 29 March 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 May 2025 and signed on its behalf by:
 

.........................................
Mrs Loretta Goldsmith
Director

 

INM&MZH Properties Ltd

Notes to the Unaudited Financial Statements for the Period from 31 March 2023 to 29 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1st Floor
8/12 London Street
Southport
Merseyside
PR9 0UE

These financial statements were authorised for issue by the Board on 13 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

INM&MZH Properties Ltd

Notes to the Unaudited Financial Statements for the Period from 31 March 2023 to 29 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

INM&MZH Properties Ltd

Notes to the Unaudited Financial Statements for the Period from 31 March 2023 to 29 March 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2023 - 2).

4

Tangible assets

Investment properties
£

Fixtures and fittings
£

Total
£

Cost or valuation

At 31 March 2023

798,842

23,207

822,049

Additions

17,583

-

17,583

At 29 March 2024

816,425

23,207

839,632

Depreciation

At 31 March 2023

-

9,827

9,827

Charge for the period

-

2,007

2,007

At 29 March 2024

-

11,834

11,834

Carrying amount

At 29 March 2024

816,425

11,373

827,798

At 30 March 2023

798,842

13,380

812,222

Included within the net book value of land and buildings above is £816,425 (2023 - £798,842) in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Trade debtors

71,457

25,759

Prepayments

319

3,839

Other debtors

5,500

4,000

 

77,276

33,598

 

INM&MZH Properties Ltd

Notes to the Unaudited Financial Statements for the Period from 31 March 2023 to 29 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

645,597

607,827

Trade creditors

 

15,305

13,368

Taxation and social security

 

40,210

37,274

Accruals and deferred income

 

1,290

2,640

 

702,402

661,109

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

7,167

12,698

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

7,167

12,698

Current loans and borrowings

2024
£

2023
£

Bank borrowings

60,400

145,585

Other borrowings

585,197

462,242

645,597

607,827