Modern Comfort Properties Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 13871913 (England and Wales)

MODERN COMFORT PROPERTIES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 25TH JANUARY 2022 TO 31ST JANUARY 2023

Page

Balance Sheet

1

Notes to the Financial Statements

2

to

4

FIXED ASSETS

Investment property

4

115,829

CURRENT ASSETS

Debtors

5

98

Cash at bank

2,301

2,399

CREDITORS

Amounts falling due within one year

6

53,265

NET CURRENT LIABILITIES

(50,866

)

TOTAL ASSETS LESS CURRENT LIABILITIES

64,963

CREDITORS

Amounts falling due after more than one year

7

68,769

NET LIABILITIES

(3,806

)

CAPITAL AND RESERVES

Called up share capital

9

2

Retained earnings

(3,808

)

SHAREHOLDERS' FUNDS

(3,806

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st January 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 6th October 2023 and were signed by:

A K Jutla - Director

1.	STATUTORY INFORMATION

Modern Comfort Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

13871913

Registered office:

4 Wike Ridge Close

Leeds

West Yorkshire

LS17 9NU

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Investment property

Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the profit or loss.

Taxation

Taxation for the period 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 period 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.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

115,829

At 31st January 2023

115,829

NET BOOK VALUE

At 31st January 2023

115,829

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

98

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

1,962

Other creditors

51,303

53,265

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

68,769

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by

instalments

60,797

60,797

8.	SECURED DEBTS

The following secured debts are included within creditors:

£

Mortgage

70,731

Security on the mortgage is in the form of a fixed charge over the property and a fixed and floating charge over the assets of the company.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

2

Ordinary

£2

2