M & M Assets Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 06755442 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

M & M ASSETS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M D Fix

M P Johnson

REGISTERED OFFICE:

Unit 3

Guildprime Business Centre

Southend Road

Billericay

Essex

CM11 2PY

REGISTERED NUMBER:

06755442 (England and Wales)

ACCOUNTANTS:

Lucentum Ltd

Kingfisher House

11 Hoffmanns Way

Chelmsford

Essex

CM1 1GU

FIXED ASSETS

Tangible assets

5

310,504

320,539

CURRENT ASSETS

Debtors

6

100

100

Cash at bank

288

13

388

113

CREDITORS

Amounts falling due within one year

7

208,646

254,132

NET CURRENT LIABILITIES

(208,258

)

(254,019

)

TOTAL ASSETS LESS CURRENT LIABILITIES

102,246

66,520

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

102,146

66,420

SHAREHOLDERS' FUNDS

102,246

66,520

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 26 September 2018 and were signed on its behalf by:

M P Johnson - Director

1.	STATUTORY INFORMATION

M & M Assets Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents rental income received in the period net of value added tax. Turnover is

recognised on an accruals basis.

Tangible fixed assets

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

Long leasehold

-

2.5% on cost of buildings and Straight line over 10 years

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Long

leasehold

£

COST

At 1 January 2017

and 31 December 2017

398,248

DEPRECIATION

At 1 January 2017

77,709

Charge for year

10,035

At 31 December 2017

87,744

NET BOOK VALUE

At 31 December 2017

310,504

At 31 December 2016

320,539

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Other debtors

100

100

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Bank loans and overdrafts

84,846

119,443

Amounts owed to participating interests

107,984

117,878

Tax

10,907

13,097

Accrued expenses

4,909

3,714

208,646

254,132

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.17

31.12.16

£

£

Bank loans

84,846

119,443

The bank loan provided by National Westminster Bank Plc is secured by the following:

Security type

Granted by

Security address/description

1st legal charge

M&M Assets Ltd

4 Barons Court Southend-on-sea, and associated assets

Unlimited guarantee

Cunis Ltd

Supported by

1st legal charge

Cunis Ltd

Unit 3 Guildprime Billericay, and associated assets

Debenture

M&M Assets Ltd

All assets

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.17

31.12.16

value:

£

£

100

Ordinary

£1

100

100

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other debtors is an amount of £50 due from M Fix and £50 due from M Johnson. No

interest is charged on these amounts.

11.	RELATED PARTY DISCLOSURES

During the year the company received rent of £66,000 (2016 : £66,000) from Cunis Limited. The

company directors M Fix and M Johnson are also directors of Cunis Limited.

At the balance sheet date, the company owed Cunis Limited £107,984 (2016 : £117,878).

12.	ULTIMATE CONTROLLING PARTY

There is no individual ultimate controlling party.