| MRM Property Developments Ltd |
| Registered number: |
16196700 |
| Balance Sheet |
| as at 30 September 2025 |
|
|
|
Notes |
|
|
2025 |
|
|
|
|
|
£ |
|
| Fixed assets |
| Tangible assets |
3 |
|
|
154,620 |
|
| Current assets |
| Debtors |
4 |
|
416 |
| Cash at bank and in hand |
|
|
1,084 |
|
|
|
1,500 |
|
|
|
| Creditors: amounts falling due within one year |
5 |
|
(64,495) |
|
| Net current liabilities |
|
|
|
(62,995) |
|
|
| Total assets less current liabilities |
|
|
|
91,625 |
|
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(85,801) |
|
| Provisions for liabilities |
|
|
|
(1,647) |
|
| Net assets |
|
|
|
4,177 |
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1 |
| Profit and loss account |
|
|
|
4,176 |
|
| Shareholder's funds |
|
|
|
4,177 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
| Matthew McCullagh |
| Director |
| Approved by the board on 18 September 2026 |
|
| MRM Property Developments Ltd |
| Notes to the Accounts |
| for the period from 20 January 2025 to 30 September 2025 |
|
|
| 1 |
Accounting policies |
|
|
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). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from the letting of property owned by the company. Turnover is recognised on all rent due in respect of the accounting period. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life. |
|
|
Fixtures, fittings, tools and equipment |
over 4 years |
|
|
Investment properties are revalued annually and the aggregate surplus or deficit is transferred to the profit and loss account, and no provision is made for depreciation. This departure from the requirements of the Companies Act 2006, which requires all properties to be depreciated, is, in the opinion of the director, necessary for the accounts to show a true and fair view in accordance with applicable accounting standards. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Employees |
2025 |
|
|
|
|
|
|
|
Number |
|
|
|
Average number of persons employed by the company |
0 |
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
|
|
|
|
|
|
|
|
£ |
|
Cost |
|
Additions |
145,952 |
|
Surplus on revaluation |
8,668 |
|
At 30 September 2025 |
154,620 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 30 September 2025 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2025 |
154,620 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2025 |
|
|
|
|
|
|
|
£ |
|
|
Historical cost |
145,952 |
|
Cumulative depreciation based on historical cost |
- |
|
|
|
|
|
|
145,952 |
|
|
|
|
|
|
|
|
|
|
The investment properties were valued at £154,620 on 30 September 2025 by Matthew McCullagh, the director of the company, on an open market existing use basis. |
|
|
| 4 |
Debtors |
2025 |
|
|
|
|
|
|
|
£ |
|
|
|
Other debtors |
416 |
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
|
|
|
|
|
|
£ |
|
|
|
Other creditors |
64,495 |
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2025 |
|
|
|
|
|
|
|
£ |
|
|
|
Bank loans |
85,801 |
|
|
|
|
|
|
|
|
|
| 7 |
Loans |
2025 |
|
|
|
|
|
|
|
£ |
|
|
Creditors include: |
|
Amounts payable otherwise than by instalment falling due for payment after more than five years |
|
85,801 |
|
|
|
|
|
|
|
|
|
|
Secured bank loans |
85,801 |
|
|
|
|
|
|
|
|
|
The lender has fixed charges over property owned by the company. |
|
|
| 8 |
Other information |
|
|
MRM Property Developments Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
53 Manton Road |
|
Hitchin |
|
SG4 9NP |