Company Registration No. 09962242 (England and Wales)
MI Property Management Limited
Unaudited accounts
for the year ended 31 January 2026
MI Property Management Limited
Unaudited accounts
Contents
MI Property Management Limited
Statement of financial position
as at 31 January 2026
Investment property
306,604
297,604
Cash at bank and in hand
370,969
321,455
Creditors: amounts falling due within one year
(342,271)
(342,819)
Net current assets/(liabilities)
28,698
(21,364)
Total assets less current liabilities
335,302
276,240
Provisions for liabilities
Deferred tax
(16,829)
(14,579)
Net assets
318,473
261,661
Called up share capital
10
10
Profit and loss account
318,463
261,651
Shareholders' funds
318,473
261,661
For the year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 October 2026 and were signed on its behalf by
Muhammad Yusuf
Director
Company Registration No. 09962242
MI Property Management Limited
Notes to the Accounts
for the year ended 31 January 2026
MI Property Management Limited is a private company, limited by shares, registered in England and Wales, registration number 09962242.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The financial statements have been prepared in accordance with FRS 102, including the disclosure requirements of Section 1A Small Entities, and the provisions of the Companies Act 2006 applicable to companies subject to the small companies regime.
The financial statements have been prepared under the historical cost convention, as modified by the measurement of investment property at fair value.
The accounts are presented in £ sterling.
Investment property comprises freehold property held to earn rental income and/or for capital appreciation.
Investment property is initially recognised at cost, including directly attributable expenditure, and subsequently measured at fair value at each reporting date where fair value can be measured reliably without undue cost or effort.
Changes in fair value are recognised in profit or loss in the period in which they arise.
No depreciation is charged on investment property measured at fair value.
The fair value of investment property is determined by the directors using available market information, including publicly available property valuation data and comparable market evidence. No independent professional valuation has been undertaken.
MI Property Management Limited
Notes to the Accounts
for the year ended 31 January 2026
During the preparation of the financial statements for the year ended 31 January 2026, the directors reviewed the valuation of the company's investment property in prior accounting periods.
Although the property was already classified as investment property in the financial statements for the year ended 31 January 2025, the review identified that its previously reported carrying value required correction to reflect the appropriate fair value at that reporting date.
The comparative figures for the year ended 31 January 2025 have therefore been restated to reflect the revised carrying value of the investment property and the associated deferred tax liability.
The adjustments to the previously reported financial statements are summarised below:
1. Investment property
The carrying value of investment property at 31 January 2025 has been increased by £21,604, from £276,000 to £297,604.
2. Deferred taxation
The deferred tax liability at 31 January 2025 has been increased by £5,401, from £9,178 to £14,579.
3. Profit for the financial year
The profit for the year ended 31 January 2025 has been increased by £16,204, from £76,540 to £92,744.
4. Net assets
The net assets at 31 January 2025 have been increased by £16,203, from £245,458 to £261,661.
The adjustments have been applied retrospectively to the comparative financial information and have no impact on the company's cash flows.
Deferred tax is recognised in respect of timing differences arising between the recognition of income and expenses in the financial statements and their inclusion in tax computations.
Deferred tax liabilities are recognised in respect of taxable timing differences, including those arising from changes in the fair value of investment property.
Deferred tax is measured using tax rates and laws enacted or substantively enacted at the reporting date that are expected to apply when the timing differences reverse.
Deferred tax is recognised in profit or loss except where it relates to items recognised outside profit or loss.
Tangible fixed assets and depreciation
The company's property was reclassified from tangible fixed assets to investment property in the previous financial year and is now accounted for at fair value in accordance with the investment property accounting policy.
The historical cost and accumulated depreciation balances relating to the property remain within the tangible fixed asset records, with a net book value of £nil at 31 January 2026.
No depreciation has been charged on the investment property during the current financial year, as it is measured at fair value. The carrying value and fair value movements of the investment property are disclosed separately in Note 5.
MI Property Management Limited
Notes to the Accounts
for the year ended 31 January 2026
4
Tangible fixed assets
Land & buildings
At 1 February 2025
109,767
At 31 January 2026
109,767
At 1 February 2025
109,767
At 31 January 2026
109,767
Fair value at 1 February 2025
297,604
Net gain from fair value adjustments
9,000
At 31 January 2026
306,604
The investment property is measured at fair value in accordance with FRS 102.
The fair value at 31 January 2026 was determined by the directors using publicly available market information, including Zoopla and comparable property market evidence. No formal valuation by an independent professionally qualified valuer was undertaken.
The net fair value gain of £9,000 for the year ended 31 January 2026 has been recognised in profit or loss.
The comparative carrying value at 31 January 2025 has been restated to £297,604. Further details of the restatement are provided in the prior-period adjustment note.
6
Creditors: amounts falling due within one year
2026
2025
Taxes and social security
12,939
12,572
Loans from directors
327,532
330,247
MI Property Management Limited
Notes to the Accounts
for the year ended 31 January 2026
7
Deferred taxation
2026
2025
Revaluation of investment property
16,829
14,579
Provision at start of year
14,579
-
Charged to the profit and loss account
2,250
14,579
Provision at end of year
16,829
14,579
The deferred tax liability principally relates to differences between the carrying value of investment property in the financial statements and its tax base.
The liability has been calculated using the tax rates expected to apply when the relevant timing differences reverse.
8
Average number of employees
During the year the average number of employees was 0 (2025: 0).