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Registered number: 04493332 MMC PROPERTIES LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
MMC PROPERTIES LIMITED CONTENTS
| Page
Balance sheet | 1 - 2
Notes to the financial statements | 3 - 6
MMC PROPERTIES LIMITED REGISTERED NUMBER: 04493332 BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 780,000 |  | 780,000
|  |  | 780,000 |  | 780,000
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 72,590 |  | 82,127 |
Cash at bank and in hand |  | 195,708 |  | 139,128 |
|  | 268,298 |  | 221,255 |
Creditors: amounts falling due within one year | 6 | (28,417) |  | (17,488) |
Net current assets |  |  | 239,881 |  | 203,767
Total assets less current liabilities |  |  | 1,019,881 |  | 983,767
Provisions for liabilities |  |  |  |  |
Deferred tax |  | (44,486) |  | (44,486) |
|  |  | (44,486) |  | (44,486)
Net assets |  |  | 975,395 |  | 939,281
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1,100 |  | 1,100
Investment property reserve |  |  | 383,888 |  | 383,888
Profit and loss account |  |  | 590,407 |  | 554,293
|  |  | 975,395 |  | 939,281
Page 1
MMC PROPERTIES LIMITED REGISTERED NUMBER: 04493332 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025 The directors consider 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 year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their 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 17 November 2025.
R C Caston
Director
The notes on pages 3 to 6 form part of these financial statements. Page 2
MMC PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
The company is a private company limited by shares. It is both incorporated and domiciled in England Wales. The address of its registered office is 7 the Close, Norwich, Norfolk, NR1 4DJ. The ongoing principal activity of the company continues to be the letting of property. The principal place of business is Hardley, Norfolk. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The following principal accounting policies have been applied:
| 2.2 | Revenue
Turnover comprises revenue recognised by the company in respect of property rental in the period. The company is not VAT registered. Revenue is recognised on an accruals basis in accordance with the period covered by the rental.
| 2.3 | Interest income
Interest income is recognised in profit or loss using the effective interest method. Page 3
MMC PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.4 | Current and deferred taxation
The tax expense for the year 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.
| 2.5 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.6 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.7 | 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. Page 4
MMC PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.8 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.9 | Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
| 2.10 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Employees
| The average monthly number of employees, including directors, during the year was 3 (2024 - 3).
4. | TANGIBLE FIXED ASSETS
|  | Freehold property
|  | £
| Cost or valuation |
| At 1 April 2024 | 780,000
| At 31 March 2025 | 780,000
| Net book value |
| At 31 March 2025 | 780,000
| At 31 March 2024 | 780,000
Page 5
MMC PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other debtors | 72,590 | 82,127
|  | 72,590 | 82,127
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other taxation and social security | 16,933 | 14,884
| Other creditors | 8,988 | -
| Accruals and deferred income | 2,496 | 2,604
|  | 28,417 | 17,488
7. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 330 "A" Ordinary shares of £1.00 each | 330 | 330
|  | 500 "B" Ordinary shares of £1.00 each | 500 | 500
|  | 50 "C" Ordinary shares of £1.00 each | 50 | 50
|  | 50 "D" Ordinary shares of £1.00 each | 50 | 50
|  | 85 "E" Ordinary shares of £1.00 each | 85 | 85
|  | 85 "F" Ordinary shares of £1.00 each | 85 | 85
|  |  | 1,100 | 1,100
8. | Transactions with directors
At 1 April 2024 a director owed the company £36,627. During the year the company charged interest of £824. As a result, at 31 March 2025 a director owed the company £37,451.
Page 6