Maverick4 Properties Limited - Accounts to registrar (filleted) - small 18.2
Maverick4 Properties Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2017 |
for |
Maverick4 Properties Limited |
Maverick4 Properties Limited (Registered number: 05522427) |
Contents of the Financial Statements |
for the Year Ended 31 December 2017 |
Page |
Company Information | 1 |
Chartered Certified Accountants' Report | 2 |
Statement of Financial Position | 3 |
Notes to the Financial Statements | 5 |
Maverick4 Properties Limited |
Company Information |
for the Year Ended 31 December 2017 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Meriden House |
6 Great Cornbow |
Halesowen |
West Midlands |
B63 3AB |
Chartered Certified Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Maverick4 Properties Limited |
The following reproduces the text of the report prepared for the director 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 Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and |
certain other primary statements and the Report of the Director 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 Maverick4 Properties Limited for the year ended 31 December 2017 which comprise the |
Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
This report is made solely to the director of Maverick4 Properties Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Maverick4 Properties Limited and state those matters that we have agreed to state to the director of Maverick4 Properties Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report. |
It is your duty to ensure that Maverick4 Properties 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 profit of Maverick4 Properties Limited. You consider that Maverick4 Properties 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 Maverick4 Properties 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. |
Chartered Certified Accountants |
Meriden House |
6 Great Cornbow |
Halesowen |
West Midlands |
B63 3AB |
Maverick4 Properties Limited (Registered number: 05522427) |
Statement of Financial Position |
31 December 2017 |
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 3 |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Revaluation reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
Maverick4 Properties Limited (Registered number: 05522427) |
Statement of Financial Position - continued |
31 December 2017 |
The director acknowledges his 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 director on |
Maverick4 Properties Limited (Registered number: 05522427) |
Notes to the Financial Statements |
for the Year Ended 31 December 2017 |
1. | STATUTORY INFORMATION |
Maverick4 Properties Limited is a |
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 |
The financial statements are presented in pound sterling which is the functional currency of the company and |
rounded to the nearest £. |
Turnover |
Turnover represents commercial property rental charges and other service charges invoiced. |
Tangible fixed assets |
Freehold property | - |
In the year the director has reassessed the useful life of the freehold property. Depreciation has been provided at |
a rate of 0% on freehold land and buildings as they are maintained in a continual state of sound repair, their lives |
are long and residual values are such that depreciation is not material. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position 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. |
Maverick4 Properties Limited (Registered number: 05522427) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
3. | PROPERTY, PLANT AND EQUIPMENT |
Freehold |
property |
£ |
COST OR VALUATION |
At 1 January 2017 |
Revaluations | ( |
) |
At 31 December 2017 |
NET BOOK VALUE |
At 31 December 2017 |
At 31 December 2016 |
Included in cost or valuation of land and buildings is freehold land of £ 475,000 (2016 - £ 475,000 ) which is not |
depreciated. |
Cost or valuation at 31 December 2017 is represented by: |
Freehold |
property |
£ |
Valuation in 2008 | 83,435 |
Valuation in 2017 | (83,435 | ) |
Cost | 1,857,799 |
1,857,799 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to participating interests | 671,316 | 636,914 |
Corporation tax |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
Maverick4 Properties Limited (Registered number: 05522427) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Other creditors | 216,182 | 226,214 |
7. | SECURED DEBTS |
The bank loans are secured in favour of HSBC Bank Plc, by a legal mortgage over the freehold property Maxi |
House dated 23 March 2007 and a legal mortgage over the freehold property 292 Monkmoor Road dated 14 |
December 2005. |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
9. | RESERVES |
Revaluation |
reserve |
£ |
At 1 January 2017 |
Deferred tax movement | 16,687 |
Elimination of revaluation reserve | (83,435 | ) |
At 31 December 2017 |