REGISTERED NUMBER: 04972165 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

M T P ESTATE AGENTS LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

AB Twigger

J S Payne

SECRETARY:

AB Twigger

REGISTERED OFFICE:

23 Warwick Row

Coventry

West Midlands

CV1 1EY

REGISTERED NUMBER:

04972165 (England and Wales)

ACCOUNTANTS:

Armstrongs

Chartered Accountants and Tax Advisers

1 & 2 Mercia Village

Torwood Close

Westwood Business Park

Coventry

West Midlands

CV4 8HX

BANKERS:

HSBC Bank Plc

55 Corporation Street

Coventry

West Midlands

CV1 1GX

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

51,131

60,539

Investments

6

2,000

2,000

53,131

62,539

CURRENT ASSETS

Debtors

7

112,608

360,092

Cash at bank and in hand

79,355

59

191,963

360,151

CREDITORS

Amounts falling due within one year

8

238,980

247,809

NET CURRENT (LIABILITIES)/ASSETS

(47,017

)

112,342

TOTAL ASSETS LESS CURRENT LIABILITIES

6,114

174,881

CREDITORS

Amounts falling due after more than one year

9

(4,674

)

(43,467

)

PROVISIONS FOR LIABILITIES

11

(466

)

(1,308

)

NET ASSETS

974

130,106

CAPITAL AND RESERVES

Called up share capital

12

427

427

Retained earnings

13

547

129,679

SHAREHOLDERS' FUNDS

974

130,106

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 18 September 2025 and were signed on its behalf by:

J S Payne - Director

1.	STATUTORY INFORMATION

M T P Estate Agents Ltd. 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill was being amortised evenly over its estimated useful life and is now fully amortised.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

Depreciated equally over lease period

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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 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.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 22 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

538,062

AMORTISATION

At 1 January 2024

and 31 December 2024

538,062

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Motor

Computer

leasehold

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

12,546

172,745

64,599

37,626

287,516

Additions

-

2,956

-

6,629

9,585

At 31 December 2024

12,546

175,701

64,599

44,255

297,101

DEPRECIATION

At 1 January 2024

11,954

159,716

20,449

34,858

226,977

Charge for year

295

3,996

11,038

3,664

18,993

At 31 December 2024

12,249

163,712

31,487

38,522

245,970

NET BOOK VALUE

At 31 December 2024

297

11,989

33,112

5,733

51,131

At 31 December 2023

592

13,029

44,150

2,768

60,539

Included within the net book value of motor vehicles is an amount of £35,658 (2022 £107,256 ) in respect of assets held under hire purchase agreements.

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

2,000

NET BOOK VALUE

At 31 December 2024

2,000

At 31 December 2023

2,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

39,142

35,421

Amounts owed by group undertakings

57,530

306,899

Other debtors

-

1

Prepayments

15,936

17,771

112,608

360,092

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,138

73,824

Preference shares

1

1

Hire purchase contracts

18,982

8,846

Trade creditors

26,978

49,357

Corporation tax

87,561

33,253

Social security and other taxes

13,260

11,132

VAT

49,806

42,909

Other creditors

22,886

21,347

Accrued expenses

9,368

7,140

238,980

247,809

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans more than 1 year

4,674

24,485

Hire purchase contracts

-

18,982

4,674

43,467

10.	SECURED DEBTS

At the balance sheet date HSBC held a fixed and floating charge over the company and all property and assets both present and future.

11.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

466

1,308

Deferred

tax

£

Balance at 1 January 2024

1,308

Deferred Tax movement for year

(842

)

Balance at 31 December 2024

466

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

4,200

Ordinary 10p Shares

£0.10

420

420

1

Ordinary B £1

£1

1

1

1

Ordinary C £1

£1

1

1

1

Ordinary D £1

£1

1

1

1

Ordinary E £1

£1

1

1

1

Ordinary F £1

£1

1

1

1

Ordinary G £1

£1

1

1

1

Ordinary H £1

£1

1

1

427

427

13.

RESERVES

Retained

earnings

£

At 1 January 2024

129,679

Profit for the year

250,868

Dividends

(380,000

)

At 31 December 2024

547

14.	RELATED PARTY DISCLOSURES

MTP Estate Agents Ltd is a subsidiary of MTP Holdings Ltd which is a subsidiary of MTP Ventures Ltd which is ultimately controlled by Mr J Payne.