Accounts filed on 31-01-2017

Accounts filed on 31-01-2017

M P S PROPERTY (UK) LIMITED - Company Information

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07415085falsethat of property development2016-02-012017-01-31http://www.companieshouse.gov.uk/2016-01-31http://www.companieshouse.gov.uk/cd:Director12016-02-012017-01-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12016-02-012017-01-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2016-02-012017-01-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2016-02-012017-01-31http://www.companieshouse.gov.uk/2016-02-012017-01-31http://www.companieshouse.gov.uk/2016-01-31http://www.companieshouse.gov.uk/cd:FRS1022016-02-012017-01-31http://www.companieshouse.gov.uk/pt:InvestmentPropertyIncludedWithinPPE2016-01-31http://www.companieshouse.gov.uk/2017-01-31http://www.companieshouse.gov.uk/cd:FullAccounts2016-02-012017-01-31http://www.companieshouse.gov.uk/pt:InvestmentPropertyIncludedWithinPPE2017-01-31http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2016-02-012017-01-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 07415085
M P S Property (UK) Limited
ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2017
Prepared By:
Greywalls Accountants Limited
13 Isis Lake
Spine Road
South Cerney
Cirencester
GL7 5LT
M P S Property (UK) Limited
ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2017
DIRECTORS
V Fulbrook
REGISTERED OFFICE
3 Hamilton Gardens
Burnham
Slough
Berkshire
SL1 7AA
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 07415085
ACCOUNTANTS
Greywalls Accountants Limited
13 Isis Lake
Spine Road
South Cerney
Cirencester
GL7 5LT
M P S Property (UK) Limited
ACCOUNTS
FOR THEYEARENDED31 JANUARY 2017
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
M P S Property (UK) Limited
BALANCE SHEET AT 31 January 2017
20172016
Notes££
FIXED ASSETS
Tangible assets21,050,0001,050,000
CURRENT ASSETS
Debtors3175,8554,001
175,8554,001
CREDITORS: Amounts falling due within one year4838,024584,766
NET CURRENT LIABILITIES(662,169)(580,765)
TOTAL ASSETS LESS CURRENT LIABILITIES387,831469,235
PROVISIONS FOR LIABILITIES AND CHARGES646,376-
NET ASSETS341,455469,235
CAPITAL AND RESERVES
Called up share capital722
Revaluation reserve1d,8244,085372,900
Profit and loss account97,36896,333
SHAREHOLDERS' FUNDS341,455469,235
For the year ending 31 January 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 4 October 2017 and signed on their behalf by
.............................
V Fulbrook
Director
M P S Property (UK) Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2017
1. ACCOUNTING POLICIES
1a. Basis Of Accounting FRS
1b. Going Concern
The company continues to be profitable and the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus he continues to adopt the going concern basis of accounting in preparing the annual financial statements.
1c. Investment Properties
Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view.
1d. Revaluation Reserve
Surpluses or deficits arising on the revaluation of individual fixed assets other than investment properties are credited or debited to a non-distributible reserve known as the revaluation reserve (see also note 8).
Revaluation deficits in excess of the amount of prior revaluation surpluses on the same asset are charged to the profit and loss account.
1e. Basis Of Accounting FRS 1021 a
M P S Property UK Limited is a private company, limited by shares, domiciled in England and Wales, registration number 07415085. The registered office is 3 Hamilton Gardens, Burnham, Slough, SL1 7AA.
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A small entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts. The financial statements have been prepared under the historical cost convention.
1f. Functional Currency
The functional currency of the company is considered to be pounds sterling because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pounds sterling.
M P S Property (UK) Limited
2. TANGIBLE FIXED ASSETS
Investment
PropertiesTotal
££
Cost
At 1 February 20161,050,0001,050,000
Additions290,000290,000
Disposals(161,185)(161,185)
Revaluation(128,815)(128,815)
At 31 January 20171,050,0001,050,000
Depreciation
At 31 January 2017--
Net Book Amounts
At 31 January 20171,050,0001,050,000
At 31 January 20161,050,0001,050,000
3. DEBTORS 20172016
££
Amounts falling due within one year
Other debtors4,0014,001
Amounts due from group companies171,854-
175,8554,001
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20172016
££
UK corporation tax11,85313,967
Directors current account525,002230,000
Other creditors3,2782,778
Amounts due to group companies297,891338,021
838,024584,766
5. EMPLOYEES
20172016
No.No.
Average number of employees11
M P S Property (UK) Limited
6. PROVISIONS FOR LIABILITIES 20172016
££
Deferred taxation46,376-
46,376-
7. SHARE CAPITAL 20172016
££
Allotted, issued and fully paid:
2 Ordinary shares of £1 each22
22
New shares issued during period:
2 Ordinary shares of £1 each22
8. REVALUATION RESERVE 20172016
££
Revaluation reserve244,085372,900
244,085372,900
As at the year end, the company's director revalued the investment property held on an open market basis. The cumulative surplus on revaluation was £244,085 (2016 - £372,900).
9. CONTROLLING PARTY
The ultimate controlling party is J Fulbrook, by virtue of his shareholding in M P S Property (UK) Limiteds holding company.
The company's ultimate holding company is Maidenhead Holdings (UK) Limited.
10. RELATED PARTY TRANSACTIONS
As at 31 January 2017 the company was owed by Maidenhead Printing and Stationery Company Limited £171,853 (2016 - £40,129 owed to). Maidenhead Printing and Stationery Company Limited is a fellow subsidiary of Maidenhead Holdings (UK) Limited. The loan is non interest bearing, but is repayable on demand.
As at 31 January 2017 the company owed Maidenhead Holdings (UK) Limited £297,892 (2016 - £297,892). The loan is non interest bearing, but is repayable on demand.
M P S Property (UK) Limited
11. TRANSITION TO FRS102
These financial statements for the year ended 31 January 2017 are the first financial statements that comply with FRS 102 Section 1A small entities. The date of transition is 1 February 2015.
As a consequence of adopting FRS 102 Section 1A small entities no accounting policies have changed to comply with that standard.