M_Boyes_Properties_Limited_30_Nov_2025_companies_house_set_of

M Boyes Properties Limited

Notes to the Financial Statements

Year ended

30 November 2025

1 General information

2 Statement of compliance

These

financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The

financial statements

have been prepared on the historical cost basis, as modified by the revaluation of certain assets.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Office equipment

20% reducing balance

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.

All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was

(2024:

2.00

5 Tangible assets

	Plant and machinery etc.
	£
Cost
At 1 December 2024	6,187
Additions	229
At 30 November 2025	6,416
Depreciation
At 1 December 2024	4,922
Charge	373
At 30 November 2025	5,295
Carrying amount
At 30 November 2025	1,121
At 30 November 2024	1,265

6 Investments

	Shares in group undertakings and participating interests	Other investments other than loans	Other investments	Total
	£	£	£	£
Cost
At 1 December 2024	47	110,000	80,327	190,374
Transfers	-	-	2,474	2,474
At 30 November 2025	47	110,000	82,801	192,848
Impairment
At 1 December 2024 and 30 November 2025	-	-	-	-
Carrying amount
At 30 November 2025	47	110,000	82,801	192,848
At 30 November 2024	47	110,000	80,327	190,374

Investments held at valuation

In respect of fixed asset investments held at valuation, the comparable amounts that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Other investments	Shares in group undertakings and participating interests	Other investments
	£	£	£
At 30 November 2025
Aggregate historical cost	110,000	47	82,801
Carrying amount	110,000	47	82,801

At 30 November 2024
Aggregate historical cost	110,000	47	80,327
Carrying amount	110,000	47	80,327

7 Debtors

	2025	2024
	£	£
Trade debtors	6,719	3,334
Other debtors	-	14,585
	6,719	17,919

8 Creditors: amounts falling due within one year

	2025	2024
	£	£
Taxation and social security	9,349	3,516
Other creditors	3,142	2,691
	12,491	6,207

		2025		2024
	Note	£		£
Fixed assets
Tangible assets	5	1,121		1,265
Investments	6	192,848		190,374
		193,969		191,639
Current assets
Debtors	7	6,719		17,919
Cash at bank and in hand		287,220		250,523
		293,939		268,442
Creditors: amounts falling due within one year	8	(12,491	)	(6,207	)
Net current assets		281,448		262,235
Total assets less current liabilities		475,417		453,874
Capital and reserves
Called up share capital		1		1
Profit and loss account		475,416		453,873
Shareholders funds		475,417		453,874