Mollsam Properties Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07536070 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

MOLLSAM PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

4,636

5,187

Investment property

5

1,235,000

1,235,000

1,239,636

1,240,187

CURRENT ASSETS

Debtors

6

1,100

1,100

Cash at bank

72,236

60,626

73,336

61,726

CREDITORS

Amounts falling due within one year

7

(36,203

)

(35,601

)

NET CURRENT ASSETS

37,133

26,125

TOTAL ASSETS LESS CURRENT LIABILITIES

1,276,769

1,266,312

PROVISIONS FOR LIABILITIES

8

(115,550

)

(115,550

)

NET ASSETS

1,161,219

1,150,762

CAPITAL AND RESERVES

Called up share capital

678,045

678,045

Fair value reserve

9

464,450

464,450

Retained earnings

9

18,724

8,267

SHAREHOLDERS' FUNDS

1,161,219

1,150,762

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 28 November 2023 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 (2022 - 1 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

fittings

£

COST

At 1 April 2022

9,842

Additions

393

At 31 March 2023

10,235

DEPRECIATION

At 1 April 2022

4,655

Charge for year

944

At 31 March 2023

5,599

NET BOOK VALUE

At 31 March 2023

4,636

At 31 March 2022

5,187

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2022

and 31 March 2023

1,235,000

NET BOOK VALUE

At 31 March 2023

1,235,000

At 31 March 2022

1,235,000

Fair value at 31 March 2023 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.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Other debtors

1,100

1,100

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Taxation and social security

4,889

3,383

Other creditors

31,314

32,218

36,203

35,601

8.	PROVISIONS FOR LIABILITIES

31.3.23

31.3.22

£

£

Deferred tax

115,550

115,550

Deferred

tax

£

Balance at 1 April 2022

115,550

Balance at 31 March 2023

115,550

9.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 April 2022

8,267

464,450

472,717

Profit for the year

20,457

20,457

Dividends

(10,000

)

(10,000

)

At 31 March 2023

18,724

464,450

483,174

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23

31.3.22

£

£

Mr J R Stringer

Balance outstanding at start of year

31,742

32,599

Amounts repaid

(904

)

(857

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

30,838

31,742

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.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J R Stringer.