Mollsam Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07536070 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

FOR

MOLLSAM PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr J R Stringer

REGISTERED OFFICE:

34

Lower Richmond Road

Putney

London

SW15 1JP

REGISTERED NUMBER:

07536070 (England and Wales)

ACCOUNTANTS:

TaxAgility Accountants Ltd

Chartered Accountants

34 Lower Richmond Road

Putney

London

SW15 1JP

FIXED ASSETS

Property, plant and equipment

4

504

742

Investment property

5

1,235,000

1,205,000

1,235,504

1,205,742

CURRENT ASSETS

Cash at bank

50,192

38,079

CREDITORS

Amounts falling due within one year

6

(52,651

)

(51,927

)

NET CURRENT LIABILITIES

(2,459

)

(13,848

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,233,045

1,191,894

CAPITAL AND RESERVES

Called up share capital

678,045

678,045

Fair value reserve

7

486,000

456,000

Retained earnings

7

69,000

57,849

SHAREHOLDERS' FUNDS

1,233,045

1,191,894

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 director acknowledges his 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 director and authorised for issue on 22 December 2020 and were signed by:

Mr J R Stringer - Director

1.	STATUTORY INFORMATION

Mollsam Properties 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.

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 as modified by the revaluation of certain assets.

Turnover

The company's turnover comprises rental income from tenants of its properties and it is recognised on an accruals basis. Rental income received in advance is deferred in the balance sheet and recognised as it is earned.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

fittings

£

COST

At 1 April 2019

and 31 March 2020

4,213

DEPRECIATION

At 1 April 2019

3,471

Charge for year

238

At 31 March 2020

3,709

NET BOOK VALUE

At 31 March 2020

504

At 31 March 2019

742

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2019

1,205,000

Revaluations

30,000

At 31 March 2020

1,235,000

NET BOOK VALUE

At 31 March 2020

1,235,000

At 31 March 2019

1,205,000

Fair value at 31 March 2020 is represented by:

£

Valuation in 2014

220,000

Valuation in 2015

95,000

Valuation in 2016

155,000

Valuation in 2017

65,000

Valuation in 2019

15,000

Valuation in 2020

30,000

Cost

655,000

1,235,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Taxation and social security

3,762

1,576

Other creditors

48,889

50,351

52,651

51,927

7.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 April 2019

57,849

456,000

513,849

Profit for the year

15,887

15,887

Dividends

(4,736

)

(4,736

)

Revaluation reserve

-

30,000

30,000

At 31 March 2020

69,000

486,000

555,000

8.	RELATED PARTY DISCLOSURES

It is confirmed that the director’s current account is debited with personal transactions and credited with

director’s remuneration as well as dividends.

The loan is unsecured, interest free and no repayment terms have been agreed.The balance owing to the director is £48,414 (2019 : £49,876)

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J R Stringer.