MS2 Investment Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 10047566 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

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

22,538

31,052

Investment property

6

302,964

392,404

325,502

423,456

CURRENT ASSETS

Debtors

7

57

250

Cash at bank

4,631

2,521

4,688

2,771

CREDITORS

Amounts falling due within one year

8

(146,061

)

(242,208

)

NET CURRENT LIABILITIES

(141,373

)

(239,437

)

TOTAL ASSETS LESS CURRENT LIABILITIES

184,129

184,019

CREDITORS

Amounts falling due after more than one year

9

(123,960

)

(120,000

)

NET ASSETS

60,169

64,019

CAPITAL AND RESERVES

Called up share capital

11

4

4

Revaluation reserve

12

60,531

60,531

Retained earnings

(366

)

3,484

SHAREHOLDERS' FUNDS

60,169

64,019

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 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 15 December 2023 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 Value Added Tax.

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2022

35,985

-

35,985

Additions

2,871

744

3,615

Disposals

(13,060

)

-

(13,060

)

At 31 March 2023

25,796

744

26,540

DEPRECIATION

At 1 April 2022

4,933

-

4,933

Charge for year

1,719

248

1,967

Eliminated on disposal

(2,898

)

-

(2,898

)

At 31 March 2023

3,754

248

4,002

NET BOOK VALUE

At 31 March 2023

22,042

496

22,538

At 31 March 2022

31,052

-

31,052

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2022

392,404

Disposals

(89,440

)

At 31 March 2023

302,964

NET BOOK VALUE

At 31 March 2023

302,964

At 31 March 2022

392,404

Fair value at 31 March 2023 is represented by:

£

Valuation in 2019

65,177

Valuation in 2020

11,177

Valuation in 2021

23,155

Valuation in 2022

(24,781

)

Cost

228,236

302,964

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

2023

2022

£

£

Cost

228,236

317,675

Investment property was valued on a fair value basis on 31 March 2023 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

57

250

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other creditors

146,061

242,208

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Other creditors

123,960

120,000

10.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank loan

123,960

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

2023

2022

value:

£

£

4

Ordinary

£1

4

4

12.

RESERVES

Revaluation

reserve

£

At 1 April 2022

and 31 March 2023

60,531

13.	RELATED PARTY DISCLOSURES

At the balance sheet date £145,028 (2022: £240,982) was owed to the directors. The amount is repayable on demand and is disclosed within other creditors.