Management Investments Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 00779192 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

FOR

MANAGEMENT INVESTMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

Mr P A M Phillips

Ms S A M Phillips

SECRETARY:

Mr P A M Phillips

REGISTERED OFFICE:

Harben House

Harben Parade

Finchley Road

London

NW3 6LH

REGISTERED NUMBER:

00779192 (England and Wales)

ACCOUNTANTS:

KBSP Partners LLP

Chartered Accountants

Harben House

Harben Parade

Finchley Road

LONDON

NW3 6LH

FIXED ASSETS

Tangible assets

4

2,284

2,688

Investment property

5

422,500

461,524

424,784

464,212

CURRENT ASSETS

Debtors

6

1,245,546

1,015,600

Cash at bank

12,932

17,760

1,258,478

1,033,360

CREDITORS

Amounts falling due within one year

7

1,682,372

1,459,689

NET CURRENT LIABILITIES

(423,894

)

(426,329

)

TOTAL ASSETS LESS CURRENT LIABILITIES

890

37,883

PROVISIONS FOR LIABILITIES

-

686

NET ASSETS

890

37,197

CAPITAL AND RESERVES

Called up share capital

100

100

Undistributable fair value

8

-

7,814

Retained earnings

790

29,283

890

37,197

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 23 March 2018 and were signed on its behalf by:

Mr P A M Phillips - Director

1.	STATUTORY INFORMATION

Management Investments 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

This the first year that the company has presented its results under FRS 102. The last financial statements under

UK GAAP were for the year ended 30 June 2016. The date of transition to FRS 102 was 01 July 2015. There are

transitional adjustments arising from the first time adoption of FRS 102.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment & software

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Investment property

The investment properties are shown at the most recent valuation, to ensure that the value shown in the

financial statements represents their fair value.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised

in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise

the asset and settle the liability simultaneously.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

4.	TANGIBLE FIXED ASSETS

Computer

Fixtures

equipment

and

& software

fittings

Totals

£

£

£

COST

At 1 July 2016

and 30 June 2017

4,550

17,408

21,958

DEPRECIATION

At 1 July 2016

2,634

16,636

19,270

Charge for year

288

116

404

At 30 June 2017

2,922

16,752

19,674

NET BOOK VALUE

At 30 June 2017

1,628

656

2,284

At 30 June 2016

1,916

772

2,688

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2016

461,524

Revaluations

(39,024

)

At 30 June 2017

422,500

NET BOOK VALUE

At 30 June 2017

422,500

At 30 June 2016

461,524

Fair value at 30 June 2017 is represented by:

£

Valuation in 2011

8,500

Valuation in 2013

41,578

Valuation in 2016

(41,578

)

Valuation in 2017

(39,024

)

Cost

453,024

422,500

Investment properties were valued on an open market basis on 30 June 2017 by the directors.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

1,245,546

1,015,600

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

5,145

5,527

Taxation and social security

4,508

4,967

Other creditors

1,672,719

1,449,195

1,682,372

1,459,689

8.

RESERVES

Undistributable

fair

value

£

At 1 July 2016

7,814

Deferred tax

686

Revaluation for the year

(8,500

)

At 30 June 2017

-

9.	RELATED PARTY DISCLOSURES

Included in Debtors are the following balances owed by related undertakings: Philip Phillips & Co Ltd: £59,303

(2016: £47,767) and PP Investments Ltd: £1,177,463 (2016: £961,813).

Included in Creditors are the following balances due to related undertakings: Crossmill Securities Ltd: £740,421

(2016: £658,568) and Kirphil Properties Ltd: £858,109 (2016: £747,424).

All the above companies are under common control with this company.

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only

required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Management Investments Limited for the year ended 30 June 2017 which comprise the Profit and

Loss account, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Management Investments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Management Investments Limited and state those matters that we have agreed to state to the Board of Directors of Management Investments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Management Investments Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Management Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Management Investments Limited. You consider that Management Investments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Management Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

KBSP Partners LLP

Chartered Accountants

Harben House

Harben Parade

Finchley Road

LONDON

NW3 6LH

26 March 2018