M & M SPEED PROPERTY LIMITED


Director	SPEED, Michael John


Registered Address	57 Quarry Dale
	Rumney
	Cardiff
	CF3 3BQ


Registered Number	16030865 (England and Wales)

Balance Sheet as at
31 October 2025

	Notes	2025
		£	£
Fixed assets
Tangible assets	3		102,847
			102,847
Current assets
Cash at bank and on hand		1,466
		1,466
Creditors amounts falling due within one year		(4,000)
Net current assets (liabilities)			(2,534)
Total assets less current liabilities			100,313
Creditors amounts falling due after one year			(110,459)
Net assets			(10,146)
Capital and reserves
Called up share capital			100
Profit and loss account			(10,246)
Shareholders' funds			(10,146)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Director on 2 December 2025, and are signed on its behalf by:

SPEED, Michael John
Director
Registered Company No. 16030865

M & M SPEED PROPERTY LIMITED

Notes to the Financial Statements
for the period ended 31 October 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Judgements and key sources of estimation uncertainty
	In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below. The key judgement relates to the capitalisation of pre-letting expenditure and acquisition-related costs as part of the cost of investment property. As the company is in its first year and the property was not yet available for letting, such costs have been treated as capital in accordance with FRS 102 Section 16.

Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.

The key judgement relates to the capitalisation of pre-letting expenditure and acquisition-related costs as part of the cost of investment property. As the company is in its first year and the property was not yet available for letting, such costs have been treated as capital in accordance with FRS 102 Section 16.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Finance costs
	Finance costs are recognised in profit or loss in the period in which they are incurred.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

2.	Average number of employees


		2025
	Average number of employees during the year	0

3.	Tangible fixed assets

		Total
		£
	Cost or valuation
	Additions	103,758
	At 31 October 25	103,758
	Depreciation and impairment
	Charge for year	911
	At 31 October 25	911
	Net book value
	At 31 October 25	102,847
	At 20 October 24	-


	Investment property is initially measured at cost, including directly attributable acquisition costs. As the property was acquired during the year and underwent refurbishment prior to being made available for letting, fair value could not be reliably determined at the reporting date. Accordingly, the property is held at cost. The fair value model will be applied in a future period when reliable valuation evidence becomes available. Fixtures and fittings are stated at cost less accumulated depreciation. Depreciation is charged on a straight-line basis over their estimated useful lives.

Investment property is initially measured at cost, including directly attributable acquisition costs. As the property was acquired during the year and underwent refurbishment prior to being made available for letting, fair value could not be reliably determined at the reporting date. Accordingly, the property is held at cost. The fair value model will be applied in a future period when reliable valuation evidence becomes available.
Fixtures and fittings are stated at cost less accumulated depreciation. Depreciation is charged on a straight-line basis over their estimated useful lives.

4.	Share capital
	The company has issued 100 ordinary shares of £1 each.

5.	Related party transactions
	During the year the shareholders introduced funds to the company to support the acquisition and refurbishment of the property. At the year end the balance owed to the shareholders was £110,458.74. The loan is unsecured, interest-free and repayable on demand.