MFO Properties and Investments Limited - Accounts to registrar (filleted) - small 18.1
MFO Properties and Investments Limited - Accounts to registrar (filleted) - small 18.1
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2017 |
| FOR |
| MFO PROPERTIES AND INVESTMENTS LIMITED |
| MFO PROPERTIES AND INVESTMENTS LIMITED (REGISTERED NUMBER: 02194673) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 October 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| MFO PROPERTIES AND INVESTMENTS LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 October 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Beckside Court |
| Annie Reed Road |
| Beverley |
| East Yorkshire |
| HU17 0LF |
| MFO PROPERTIES AND INVESTMENTS LIMITED (REGISTERED NUMBER: 02194673) |
| BALANCE SHEET |
| 31 October 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Investment property revaluation reserve |
| Retained earnings |
| 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 on |
| MFO PROPERTIES AND INVESTMENTS LIMITED (REGISTERED NUMBER: 02194673) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 October 2017 |
| 1. | STATUTORY INFORMATION |
| MFO Properties and Investments Limited is a private company, limited by shares, registered in England. The |
| company's registered number is 02194673. The company's registered office is Beckside Court, Annie Reed |
| Road, Beverley, East Yorkshire HU17 0LF |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about MFO Properties and Investments Limited as an individual |
| company and do not contain consolidated financial information as the parent of a group. The company has taken |
| the option under Section 398 of the Companies Act 2006 not to prepare consolidated 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 |
| Plant and machinery | - |
| No depreciation is provided on freehold land. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at 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. |
| 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. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| MFO PROPERTIES AND INVESTMENTS LIMITED (REGISTERED NUMBER: 02194673) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 October 2017 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| £ |
| COST |
| At 1 November 2016 |
| Additions |
| At 31 October 2017 |
| DEPRECIATION |
| At 1 November 2016 |
| Charge for year |
| At 31 October 2017 |
| NET BOOK VALUE |
| At 31 October 2017 |
| At 31 October 2016 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group | Other |
| undertakings | investments | Totals |
| £ | £ | £ |
| COST |
| At 1 November 2016 | 286,136 |
| Additions | 8,035 |
| Disposals | ( |
) | (10,719 | ) |
| At 31 October 2017 | 283,452 |
| NET BOOK VALUE |
| At 31 October 2017 | 283,452 |
| At 31 October 2016 | 286,136 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 November 2016 |
| Revaluations | 37,000 |
| At 31 October 2017 |
| NET BOOK VALUE |
| At 31 October 2017 |
| At 31 October 2016 |
| Fair value at 31 October 2017 is represented by: |
| £ |
| Valuation in 2017 | 451,750 |
| MFO PROPERTIES AND INVESTMENTS LIMITED (REGISTERED NUMBER: 02194673) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 October 2017 |
| 6. | INVESTMENT PROPERTY - continued |
| If properties had not been revalued they would have been included at the following historical cost: |
| 2017 | 2016 |
| £ | £ |
| Cost | 163,736 | 163,736 |
| The investment properties were valued by the directors on 31st October 2017 on an open market basis. |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Other debtors |
| Directors' current accounts | 33,140 | - |
| Prepayments |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade creditors |
| Corporation tax |
| Directors' current accounts | - | 974 |
| Accrued expenses |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 October 2017 and |
| 31 October 2016: |
| 2017 | 2016 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| The above amounts are a summary of transactions in the year, |
| 10. | ULTIMATE CONTROLLING PARTY |
| The controlling party is M F Overbury. |