Mayne Property Solutions Limited - Accounts to registrar (filleted) - small 23.2.5
Mayne Property Solutions Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 August 2023 |
| for |
| Mayne Property Solutions Limited |
| Mayne Property Solutions Limited (Registered number: 09714111) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Mayne Property Solutions Limited |
| Company Information |
| for the Year Ended 31 August 2023 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants, |
| 2 Cricklade Court |
| Old Town |
| Swindon |
| Wiltshire |
| SN1 3EY |
| Mayne Property Solutions Limited (Registered number: 09714111) |
| Balance Sheet |
| 31 August 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| Mayne Property Solutions Limited (Registered number: 09714111) |
| Balance Sheet - continued |
| 31 August 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve | 9 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 |
| Mayne Property Solutions Limited (Registered number: 09714111) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2023 |
| 1. | STATUTORY INFORMATION |
| Mayne Property Solutions Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Investment property |
| Certain of the company's properties are held for long-term investment. Investment properties are accounted for as follows: |
| Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure. Investment properties whose fair value can be measured reliably are measured at fair value. The surplus or deficit on revaluation is recognised in the profit and loss account accumulated in the profit and loss reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. |
| 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. |
| Mayne Property Solutions Limited (Registered number: 09714111) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Financial instruments |
| Basic financial instruments, including trade and other receivables and payables, cash and bank balances, bank loans and loans to or from other group companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Mayne Property Solutions Limited (Registered number: 09714111) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2023 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1 September 2022 |
| Additions |
| Disposals |
| At 31 August 2023 |
| DEPRECIATION |
| At 1 September 2022 |
| Charge for year |
| Eliminated on disposal |
| At 31 August 2023 |
| NET BOOK VALUE |
| At 31 August 2023 |
| At 31 August 2022 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2022 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 August 2023 |
| DEPRECIATION |
| At 1 September 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 August 2023 |
| NET BOOK VALUE |
| At 31 August 2023 |
| At 31 August 2022 |
| Mayne Property Solutions Limited (Registered number: 09714111) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2023 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| Additions |
| At 31 August 2023 |
| DEPRECIATION |
| Charge for year |
| At 31 August 2023 |
| NET BOOK VALUE |
| At 31 August 2023 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 September 2022 |
| Revaluations | 40,000 |
| At 31 August 2023 |
| NET BOOK VALUE |
| At 31 August 2023 |
| At 31 August 2022 |
| Fair value at 31 August 2023 is represented by: |
| £ |
| Valuation in 2017 | 241,203 |
| Valuation in 2021 | 60,000 |
| Valuation in 2023 | 40,000 |
| Cost | 508,797 |
| 850,000 |
| Mayne Property Solutions Limited (Registered number: 09714111) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2023 |
| 5. | INVESTMENT PROPERTY - continued |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2023 | 2022 |
| £ | £ |
| Cost | 508,797 | 508,797 |
| Investment property was valued on an open market basis on 31 August 2023 by the Director, David Mayne . |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Hire purchase contracts |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Hire purchase contracts |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Other loans more 5yrs instal | 328,573 | 348,678 |
| Mayne Property Solutions Limited (Registered number: 09714111) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2023 |
| 9. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 September 2022 |
| and 31 August 2023 |