MS2 Investment Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 10047566 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

MS2 INVESTMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M S Saier

M Stephenson

REGISTERED OFFICE:

Riverside/Tree Lea

Sixteen Foot Bank

Stonea

March

PE15 0DX

REGISTERED NUMBER:

10047566 (England and Wales)

ACCOUNTANTS:

Thompson Taraz Rand Ltd

Chartered Accountants

10 Jesus Lane

Cambridge

Cambridgeshire

CB5 8BA

FIXED ASSETS

Tangible assets

5

31,052

5,066

Investment property

6

392,404

345,732

423,456

350,798

CURRENT ASSETS

Debtors

7

250

-

Cash at bank

2,521

9,676

2,771

9,676

CREDITORS

Amounts falling due within one year

8

(242,208

)

(156,692

)

NET CURRENT LIABILITIES

(239,437

)

(147,016

)

TOTAL ASSETS LESS CURRENT LIABILITIES

184,019

203,782

CREDITORS

Amounts falling due after more than one year

9

(120,000

)

(120,000

)

PROVISIONS FOR LIABILITIES

-

(10,724

)

NET ASSETS

64,019

73,058

CAPITAL AND RESERVES

Called up share capital

11

4

4

Revaluation reserve

12

60,531

-

Retained earnings

3,484

73,054

SHAREHOLDERS' FUNDS

64,019

73,058

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2022 and were signed on its behalf by:

M Stephenson - Director

1.	STATUTORY INFORMATION

MS2 Investment 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.

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

Turnover

Turnover represents the gross rent paid or receivable from tenants during the financial year. The company is not registered for VAT.

Investment property

Investment properties are valued at their fair value. Fair value has been determined by reviewing other similar property listings in the local area. Where such listings are not available management will make a reasonable estimate based upon their knowledge of the local area.

No third party valuation will be undertaken unless otherwise disclosed.

Improvements to properties after the acquisition date are considered separable from the investment property and as such have been depreciated over 15 years.

Deferred tax

Full provision is made for deferred tax liabilities arising from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes.

Unrelieved tax losses and other deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

5.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 April 2021

7,600

Additions

28,385

At 31 March 2022

35,985

DEPRECIATION

At 1 April 2021

2,534

Charge for year

2,399

At 31 March 2022

4,933

NET BOOK VALUE

At 31 March 2022

31,052

At 31 March 2021

5,066

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2021

345,732

Additions

71,452

Revaluations

(24,780

)

At 31 March 2022

392,404

NET BOOK VALUE

At 31 March 2022

392,404

At 31 March 2021

345,732

Fair value at 31 March 2022 is represented by:

£

Valuation in 2019

65,177

Valuation in 2020

11,177

Valuation in 2021

23,155

Valuation in 2022

(24,780

)

Cost

317,675

392,404

If investment property had not been revalued it would have been included at the following historical cost:

2022

2021

£

£

Cost

317,675

246,223

Investment property was valued on a fair value basis on 31 March 2022 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

250

-

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other creditors

242,208

156,692

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Other creditors

120,000

120,000

10.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Bank loan

120,000

120,000

The loan is secured by way of fixed charge over the company's investment property.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

4

Ordinary

£1

4

4

12.

RESERVES

Revaluation

reserve

£

Revaluation

60,531

At 31 March 2022

60,531

13.	RELATED PARTY DISCLOSURES

At the balance sheet date £240,982 (2021: £156,032) was owed to the directors. The amount is repayable on demand and is disclosed within other creditors.