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Registered number: 14871560









MH PROPERTIES SOUTH EAST LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MAY 2024

 
MH PROPERTIES SOUTH EAST LIMITED
REGISTERED NUMBER: 14871560

BALANCE SHEET
AS AT 31 MAY 2024

2024
Note
£

Fixed assets
  

Investments
 3 
10

Investment property
 4 
1,550,000

  
1,550,010

  

Creditors: amounts falling due within one year
 5 
(1,108,371)

Net current (liabilities)/assets
  
 
 
(1,108,371)

Total assets less current liabilities
  
441,639

Provisions for liabilities
  

Deferred tax
  
(128,447)

  
 
 
(128,447)

Net assets
  
313,192


Capital and reserves
  

Called up share capital 
  
10

Investment property reserve
  
385,341

Profit and loss account
  
(72,159)

  
313,192


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 April 2025.



Page 1

 
MH PROPERTIES SOUTH EAST LIMITED
REGISTERED NUMBER: 14871560
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024


M A Hamer
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
MH PROPERTIES SOUTH EAST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

1.


General information

MH Properties South East Ltd is a private company, limited by shres and incorporated in England and Wales, United Kingdom, with a registration number 14871560. The address of the registered office is Hawke House, Old Station Road, Loughton, Essex, IG10 4PL. The principal activity is that of property investment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.3

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 3

 
MH PROPERTIES SOUTH EAST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


Additions
10



At 31 May 2024
10




Page 4

 
MH PROPERTIES SOUTH EAST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

4.


Investment property


Freehold investment property

£



Valuation


Additions at cost
1,036,212


Surplus on revaluation
513,788



At 31 May 2024
1,550,000

The 2024 valuations were made by the director, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
£


Historic cost
1,036,212

1,036,212


5.


Creditors: Amounts falling due within one year

2024
£

Other creditors
1,108,371

1,108,371



6.


Related party transactions

At the year end the following amounts are owed from/(to) related parties


2024
£

Key management personnel
(538,122)
(538,122)

 
Page 5