Company registration number 08948133 (England and Wales)
Mirror Properties Limited
Unaudited
Financial Statements
for the year ended 30 April 2022
PAGES FOR FILING WITH REGISTRAR
Mirror Properties Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
Mirror Properties Limited
Statement Of Financial Position
as at 30 April 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
2
154,356
154,356
Current assets
Debtors
3
15,317
41,043
Cash at bank and in hand
7,586
5,816
22,903
46,859
Creditors: amounts falling due within one year
4
(35,602)
(46,318)
Net current (liabilities)/assets
(12,699)
541
Total assets less current liabilities
141,657
154,897
Creditors: amounts falling due after more than one year
5
(141,186)
(149,202)
Net assets
471
5,695
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
469
5,693
Total equity
471
5,695
The director of the company has elected not to include a copy of the income statement within the financial statements.
true
For the financial year ended 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 30 January 2023
JP Wright
Director
Company Registration No. 08948133
Mirror Properties Limited
Notes to the Financial Statements
for the year ended 30 April 2022
- 2 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover
represents the total invoice value of rents receivable for the year. Turnover is recognised on an
accruals basis in the period to which it relates.
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
Not depreciated
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
income statement
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Mirror Properties Limited
Notes to the Financial Statements (continued)
for the year ended 30 April 2022
- 3 -
2
Tangible fixed assets
Land and buildings
£
Cost
At 1 May 2021 and 30 April 2022
154,356
Depreciation and impairment
At 1 May 2021 and 30 April 2022
Carrying amount
At 30 April 2022
154,356
At 30 April 2021
154,356
3
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
15,317
41,043
4
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
8,016
7,685
Trade creditors
900
780
Taxation and social security
7,178
5,365
Other creditors
19,508
32,488
35,602
46,318
The loan creditor is secured against the asset it relates to.
5
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans
141,186
149,202
The loan creditor is secured against the asset it relates to.
6
Company information
Mirror Properties Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Reflections House, Station Road, Castleford, West Yorkshire, United Kingdom, WF10 1DL.