MP BRACKLEY LIMITED


Directors	Goode, Carol Susan
	Goode, Terence John


Company Secretary	Goode, Carole Susan


Registered Address	42 Lytton Road
	Barnet
	EN5 5BY


Registered Number	05980121 (England and Wales)

Statement of Financial Position
28 February 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		535		629
Investment property	4		530,000		530,000
			530,535		530,629
Current assets
Stocks	5	166,771		166,771
Debtors	6	1,793		2,961
Cash at bank and on hand		2,834		967
		171,398		170,699
Creditors amounts falling due within one year	7	(406,639)		(412,337)
Net current assets (liabilities)			(235,241)		(241,638)
Total assets less current liabilities			295,294		288,991
Creditors amounts falling due after one year	8		(320,353)		(321,890)
Provisions for liabilities	10		(13,750)		(13,750)
Net assets			(38,809)		(46,649)
Capital and reserves
Called up share capital			2		2
Revaluation reserve			41,250		41,250
Profit and loss account			(80,061)		(87,901)
Shareholders' funds			(38,809)		(46,649)

The company was entitled to exemption from audit for this reporting period 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 Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 28 November 2025, and are signed on its behalf by:

Goode, Terence John
Director
Registered Company No. 05980121

MP BRACKLEY LIMITED

Notes to the Financial Statements
for the year ended 28 February 2025

1.	Accounting policies

	Statutory information
	MP Brackley 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.

	Basis of preparation
	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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets. These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company as there are sufficient external funds available.

Basis of preparation

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

These accounts have been prepared on the going concern basis, on the understanding that the directors and
shareholders will continue to financially support the company as there are sufficient external funds available.

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

	Deferred tax
	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.

Deferred tax

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.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Reducing balance (%)
	Plant and machinery	15

	Investment property
	The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	2		2

3.	Tangible fixed assets

	Plant & machinery	Total
	£	£
Cost or valuation
At 01 March 24	3,604	3,604
At 28 February 25	3,604	3,604
Depreciation and impairment
At 01 March 24	2,975	2,975
Charge for year	94	94
At 28 February 25	3,069	3,069
Net book value
At 28 February 25	535	535
At 29 February 24	629	629

4.	Investment property


		£
	Fair value at 01 March 24	530,000
	At 28 February 25	530,000

5.	Stocks

	2025	2024
	£	£
Work in progress	166,771	166,771
Total	166,771	166,771

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Prepayments and accrued income	1,793	2,961
Total	1,793	2,961

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Bank borrowings and overdrafts	1,537	1,499
Taxation and social security	2,310	1,977
Other creditors	401,305	407,508
Accrued liabilities and deferred income	1,487	1,353
Total	406,639	412,337

8.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	320,353	321,890
Total	320,353	321,890

9.	Secured creditors
	The bank loans are secured under a standard mortgage charge.

10.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	13,750	13,750
Total	13,750	13,750

11.	Related party transactions
	As at the balance sheet date, included in creditors due within one year is £401,305 (2024: £407,508), due and repayable by the director.