Maverick4 Properties Limited - Accounts to registrar (filleted) - small 18.2

MAVERICK4 PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 05522427 (England and Wales)

Financial Statements for the Period 1 January 2018 to 31 July 2018

for

Maverick4 Properties Limited

Page

Company Information

Chartered Certified Accountants' Report

Statement of Financial Position

Notes to the Financial Statements

DIRECTOR:

M A Bennett

SECRETARY:

N D Bennett

REGISTERED OFFICE:

Merlin House

Halesfield 19

Telford

Shropshire

TF7 4QT

REGISTERED NUMBER:

05522427 (England and Wales)

ACCOUNTANTS:

Hamiltons Group Limited

Chartered Certified Accountants

Meriden House

6 Great Cornbow

Halesowen

West Midlands

B63 3AB

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 period ended 31 July 2018 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 period.

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.

Hamiltons Group Limited

Chartered Certified Accountants

Meriden House

6 Great Cornbow

Halesowen

West Midlands

B63 3AB

4 January 2019

FIXED ASSETS

Property, plant and equipment

1,857,799

CURRENT ASSETS

Debtors

55,943

74,283

Cash at bank

98,355

31,336

154,298

105,619

CREDITORS

Amounts falling due within one year

871,726

908,313

NET CURRENT LIABILITIES

(717,428

)

(802,694

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,140,371

1,055,105

CREDITORS

Amounts falling due after more than one
year

257,843

267,355

NET ASSETS

882,528

787,750

CAPITAL AND RESERVES

Called up share capital

Retained earnings

882,527

787,749

SHAREHOLDERS' FUNDS

882,528

787,750

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 2018 in accordance with Section 476 of the Companies Act 2006.

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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director on 4 January 2019 and were signed by:

M A Bennett - Director

1.	STATUTORY INFORMATION

Maverick4 Properties 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.

The financial statements are presented in pound sterling which is the functional currency of the company and

rounded to the nearest £.

The financial information presented in these financial statements covers the 7 month period ended 31 July 2018.

The comparative information covers the 12 month period 1 January 2017 to 31 December 2017. The accounting

period was shortened for commercial reasons. Due to the change in accounting period, the comparative figures

are not entirely comparable.

Turnover

Turnover represents commercial property rental charges and other service charges invoiced.

Tangible fixed assets

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

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 period 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 period 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 period was NIL (2017 - NIL).

4.	PROPERTY, PLANT AND EQUIPMENT

Freehold

property

COST

At 1 January 2018

and 31 July 2018

1,857,799

NET BOOK VALUE

At 31 July 2018

1,857,799

At 31 December 2017

1,857,799

Included in cost of land and buildings is freehold land of £ 475,000 (2017 - £ 475,000 ) which is not depreciated.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

Trade debtors

46,752

74,280

Amounts owed by participating interests

2,638

Other debtors

1,294

Prepayments

5,259

55,943

74,283

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

Bank loans and overdrafts

11,700

53,313

Trade creditors

34,256

43,211

Amounts owed to participating interests

683,973

671,316

Corporation tax

54,914

32,682

Social security and other taxes

3,500

9,000

Other creditors

24,000

Accruals and deferred income

59,383

74,791

871,726

908,313

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2018

2017

Bank loans - 1-2 years

11,820

11,640

Bank loans - 2-5 years

32,424

39,533

Other creditors

213,599

216,182

257,843

267,355

8.	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.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

Ordinary

£1