MFO Properties and Investments Limited - Accounts to registrar (filleted) - small 22.3
MFO Properties and Investments Limited - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| FOR |
| MFO PROPERTIES AND INVESTMENTS LIMITED |
| MFO PROPERTIES AND INVESTMENTS LIMITED (REGISTERED NUMBER: 02194673) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 March 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| MFO PROPERTIES AND INVESTMENTS LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 March 2022 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Beckside Court |
| Annie Reed Road |
| Beverley |
| East Yorkshire |
| HU17 0LF |
| MFO PROPERTIES AND INVESTMENTS LIMITED (REGISTERED NUMBER: 02194673) |
| BALANCE SHEET |
| 31 March 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| 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. |
| MFO PROPERTIES AND INVESTMENTS LIMITED (REGISTERED NUMBER: 02194673) |
| BALANCE SHEET - continued |
| 31 March 2022 |
| 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 |
| MFO PROPERTIES AND INVESTMENTS LIMITED (REGISTERED NUMBER: 02194673) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 March 2022 |
| 1. | STATUTORY INFORMATION |
| MFO Properties and Investments Limited is a private company, limited by shares, registered in England. The company's registered number is 02194673. The company's registered office is Beckside Court, Annie Reed Road, Beverley, East Yorkshire HU17 0LF. |
| The presentation currency of the financial statements is the UK £. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Having regard to liquidity risk, current market conditions and other factors affecting the company including the impact of Covid-19, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern. |
| Tangible fixed assets |
| Plant and machinery | - |
| No depreciation is provided on freehold land. |
| 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. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| MFO PROPERTIES AND INVESTMENTS LIMITED (REGISTERED NUMBER: 02194673) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 March 2022 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| £ |
| COST |
| At 1 April 2021 |
| and 31 March 2022 |
| DEPRECIATION |
| At 1 April 2021 |
| Charge for year |
| At 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 March 2021 |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 April 2021 |
| and 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 March 2021 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2021 |
| and 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 March 2021 |
| Fair value at 31 March 2022 is represented by: |
| £ |
| Valuation in 2022 | 348,850 |
| If properties had not been revalued they would have been included at the following historical cost: |
| 2022 | 2021 |
| £ | £ |
| Cost | 136,801 | 136,801 |
| The investment properties were valued by the directors on 31st March 2022 on an open market basis. |
| MFO PROPERTIES AND INVESTMENTS LIMITED (REGISTERED NUMBER: 02194673) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 March 2022 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Directors' current accounts | 13,931 | 55,304 |
| Prepayments |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Corporation tax |
| Accrued expenses |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Bank overdraft |
| Bank loans |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 March 2022 and 31 March 2021: |
| 2022 | 2021 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| The above amounts are a summary of transactions in the year, |
| 12. | ULTIMATE CONTROLLING PARTY |
| The controlling party is M F Overbury. |