M N Properties (Southern) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04963605 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

M N Properties (Southern) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R H Neale

G R Munns

SECRETARY:

R H Neale

REGISTERED OFFICE:

Old Printers Yard

156 South Street

Dorking

Surrey

RH4 2HF

BUSINESS ADDRESS:

59a Quarry Street

Guildford

Surrey

GU1 3UA

REGISTERED NUMBER:

04963605 (England and Wales)

ACCOUNTANTS:

Bullimores LLP

Chartered Accountants

Old Printers Yard

156 South Street

Dorking

Surrey

RH4 2HF

FIXED ASSETS

Intangible assets

5

52,500

70,000

Tangible assets

6

13,101

19,698

65,601

89,698

CURRENT ASSETS

Debtors

7

459,854

439,262

Cash at bank

167,560

172,895

627,414

612,157

CREDITORS

Amounts falling due within one year

8

90,348

97,809

NET CURRENT ASSETS

537,066

514,348

TOTAL ASSETS LESS CURRENT
LIABILITIES

602,667

604,046

CREDITORS

Amounts falling due after more than one year

9

(3,603

)

(3,603

)

PROVISIONS FOR LIABILITIES

(3,050

)

(4,682

)

NET ASSETS

596,014

595,761

CAPITAL AND RESERVES

Called up share capital

400

Retained earnings

595,614

595,361

SHAREHOLDERS' FUNDS

596,014

595,761

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 11 December 2025 and were signed on its behalf by:

G R Munns - Director

R H Neale - Director

1.	STATUTORY INFORMATION

M N Properties (Southern) 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.

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Goodwill

Goodwill, being the amounts paid in connection with the acquisition of a business in 2015 and the acquisition of Wey Valley Properties in 2024, are being amortised evenly over their estimated useful lives of five years.

Intangible fixed assets

Amortisation is calculated so as to write off the cost of an asset, net of anticipated disposal proceeds, over the estimated useful economic life of that asset as follows:

Franchise - 20% straight line

Tangible fixed assets

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

Improvements to property

-

20% on cost

Office equipment

-

25% on cost

Computer equipment

-

33% on cost

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.

Investments

Investments in shares are included at fair value.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2024 - 11 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

Franchise

Totals

£

COST

At 1 April 2024

and 31 March 2025

222,500

18,500

241,000

AMORTISATION

At 1 April 2024

152,500

18,500

171,000

Amortisation for year

17,500

-

17,500

At 31 March 2025

170,000

18,500

188,500

NET BOOK VALUE

At 31 March 2025

52,500

-

52,500

At 31 March 2024

70,000

-

70,000

6.	TANGIBLE FIXED ASSETS

Improvements

to

Office

Computer

property

equipment

Totals

£

COST

At 1 April 2024

21,802

24,790

23,481

70,073

Additions

-

1,274

674

1,948

At 31 March 2025

21,802

26,064

24,155

72,021

DEPRECIATION

At 1 April 2024

11,675

20,313

18,387

50,375

Charge for year

3,376

2,027

3,142

8,545

At 31 March 2025

15,051

22,340

21,529

58,920

NET BOOK VALUE

At 31 March 2025

6,751

3,724

2,626

13,101

At 31 March 2024

10,127

4,477

5,094

19,698

7.

DEBTORS

31.3.25

31.3.24

£

Amounts falling due within one year:

Trade debtors

220

-

Amounts owed by associates

11,195

Other debtors

9,007

14,071

Prepayments and accrued income

3,387

6,037

23,809

31,303

31.3.25

31.3.24

£

Amounts falling due after more than one year:

Amounts owed by associates

385,322

Other debtors

50,723

22,637

436,045

407,959

Aggregate amounts

459,854

439,262

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade creditors

6,287

4,467

Tax

38,975

45,998

Social security and other taxes

6,021

5,606

VAT

29,809

32,653

Other creditors

5,954

5,791

Accrued expenses

3,302

3,294

90,348

97,809

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.25

31.3.24

£

Amounts owed to associates

3,603

10.	OTHER FINANCIAL COMMITMENTS

Financial commitments, guarantees and contingencies not included in the financial statements

The company had financial commitments and contingencies not included in the financial statements totalling £61,059 (2024 - £3,480) at the year end.

MN Properties (Southern) Ltd have guaranteed a loan from National Westminster Bank Plc loan to St Mary's House (Holdings) Ltd for £362,500.

11.	CLIENT ACCOUNT MONEY

The company operates bank accounts on behalf of landlords and tenants. These are separate to the company and are not recognised on the balance sheet at 31st March 2025.

12.	CONSIDERATION OF THE BASIS OF THE PREPARATION OF THE FINANCIAL STATEMENTS

The Directors have considered the basis of preparation in the Directors Report.