Maplehall Properties Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07337368 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

MAPLEHALL PROPERTIES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J A Becker

Mrs G C Anderson

REGISTERED OFFICE:

Preston Park House

South Road

Brighton

East Sussex

BN1 6SB

REGISTERED NUMBER:

07337368 (England and Wales)

FIXED ASSETS

Investment property

4

1,309,900

1,338,000

CURRENT ASSETS

Debtors

5

4,124

3,151

Cash at bank

55,939

206,817

60,063

209,968

CREDITORS

Amounts falling due within one year

6

(625,573

)

(789,300

)

NET CURRENT LIABILITIES

(565,510

)

(579,332

)

TOTAL ASSETS LESS CURRENT LIABILITIES

744,390

758,668

PROVISIONS FOR LIABILITIES

7

(53,657

)

(55,369

)

NET ASSETS

690,733

703,299

CAPITAL AND RESERVES

Called up share capital

8

100

100

Non-distributable reserve

416,294

459,524

Retained earnings

274,339

243,675

SHAREHOLDERS' FUNDS

690,733

703,299

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 19 May 2020 and were signed on its behalf by:

Mrs G C Anderson - Director

1.	STATUTORY INFORMATION

Maplehall Properties Ltd 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates and

these estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates

are recognised in the period in which the estimate is revised if the revision affects only that period, or in the

period of the revision and future periods if the revision affects both current and future periods.

The items in the financial statements where these judgements and estimates have been made include the

investments of property and the recoverability of debtors.

Turnover

Turnover represents rent receivable. Revenue from the rent received is recognised over the rental period.

Investment property

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at

fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is

provided on these gains at the rate expected to apply when the property is sold.

The methods and significant assumptions used to ascertain the fair value at the balance sheet date and fair value

movement included in the profit for the year are as follows:

The property has been valued using an open market valuation on freehold basis, conducted annually by Gail

Becker, director.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

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.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of

the entity after deducting all of its financial liabilities.

Impairment

At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is

any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable

amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not

possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the

cash-generating unit to which the asset belongs.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in existence for

the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its

financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2019

1,338,000

Additions

13,418

Impairments

(41,518

)

At 31 March 2020

1,309,900

NET BOOK VALUE

At 31 March 2020

1,309,900

At 31 March 2019

1,338,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

4,124

3,151

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Taxation and social security

6,509

14,641

Other creditors

619,064

774,659

625,573

789,300

7.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

53,657

55,369

Deferred

tax

£

Balance at 1 April 2019

55,369

Investment property

(1,712

)

Balance at 31 March 2020

53,657

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary

£1

100

100