M.J.N. Worldwide Properties Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04507334 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

M.J.N. WORLDWIDE PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M A Robinson

Mrs J Robinson

SECRETARY:

Mr M A Robinson

REGISTERED OFFICE:

17 St Peters Place

Fleetwood

Lancashire

FY7 6EB

REGISTERED NUMBER:

04507334 (England and Wales)

ACCOUNTANTS:

Xeinadin

17 St Peters Place

Fleetwood

Lancashire

FY7 6EB

FIXED ASSETS

Tangible assets

4

1,427,842

1,440,451

CURRENT ASSETS

Debtors

5

6,118

7,543

Cash at bank

70,101

32,978

76,219

40,521

CREDITORS

Amounts falling due within one year

6

(416,400

)

(461,613

)

NET CURRENT LIABILITIES

(340,181

)

(421,092

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,087,661

1,019,359

CREDITORS

Amounts falling due after more than one year

7

(140,152

)

(62,295

)

PROVISIONS FOR LIABILITIES

-

(306

)

NET ASSETS

947,509

956,758

CAPITAL AND RESERVES

Called up share capital

100

Fair value reserve

9

160,430

Retained earnings

786,979

796,228

SHAREHOLDERS' FUNDS

947,509

956,758

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 2 December 2025 and were signed on its behalf by:

Mr M A Robinson - Director

1.	STATUTORY INFORMATION

M.J.N. Worldwide 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 represents rental income due from third parties.

Tangible fixed assets

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

Fixtures and fittings

-

10% on cost

Motor vehicles

-

20% on reducing balance

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a fair value reserve.

No depreciation is provided on investment properties which is a departure from the requirements of the Companies Act 2006. In the opinion of the directors these properties are held primarily for their investment potential and so their current value is of more significance than any measure of consumption and to depreciate them would not give a true and fair view. The provisions of FRS102 Section 1A (effective January 2016) in respect of investment properties have therefore been adopted in order to give a true and fair view. If this departure from the Act had not been made, the profit for the year would have been reduced by depreciation. However the amount of the depreciation cannot reasonably be quantified and the amount which might otherwise have been shown cannot be separately identified or quantified.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Investment

to

and

Motor

properties

property

fittings

vehicles

Totals

£

COST OR VALUATION

At 1 October 2023

and 30 September 2024

1,350,635

28,987

29,293

72,217

1,481,132

DEPRECIATION

At 1 October 2023

-

26,238

14,443

40,681

Charge for year

-

1,054

11,555

12,609

At 30 September 2024

-

27,292

25,998

53,290

NET BOOK VALUE

At 30 September 2024

1,350,635

28,987

2,001

46,219

1,427,842

At 30 September 2023

1,350,635

28,987

3,055

57,774

1,440,451

Cost or valuation at 30 September 2024 is represented by:

Improvements

Fixtures

Investment

to

and

Motor

properties

property

fittings

vehicles

Totals

£

Valuation in 2024

160,431

-

160,431

Cost

1,190,204

28,987

29,293

72,217

1,320,701

1,350,635

28,987

29,293

72,217

1,481,132

If investment properties had not been revalued they would have been included at the following historical cost:

2024

2023

£

Cost

1,190,204

Investment properties were valued on an open market basis on 30 September 2024 by Mr M A Robinson, a director .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Amounts owed by group undertakings

-

709

Prepayments

6,118

6,834

6,118

7,543

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

5,000

Hire purchase contracts

7,143

5,207

Tax

21,713

36,250

Directors' current accounts

357,105

405,560

Accruals and deferred income

25,439

9,596

416,400

461,613

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Bank loans

93,750

8,750

Hire purchase contracts

46,402

53,545

140,152

62,295

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Hire purchase contracts

53,545

58,752

9.

RESERVES

Fair

value

reserve

£

At 1 October 2023

and 30 September 2024

160,430