Midwest Estates (Manchester) Limited - Period Ending 2019-03-31

Registration number: 4388594

Midwest Estates (Manchester) Limited



Filleted Financial Statements

for the Year Ended 31 March 2019

Midwest Estates (Manchester) Limited

(Registration number: 4388594)
Balance Sheet as at 31 March 2019

	2019 £	2018 £
Fixed assets	648,012	642,342
Current assets	1,414,613	1,620,236
Prepayments and accrued income	-	207
Creditors: Amounts falling due within one year	(1,321,366)	(1,628,048)
Net current assets/(liabilities)	93,247	(7,605)
Total assets less current liabilities	741,259	634,737
Creditors: Amounts falling due after more than one year	(252,071)	(258,475)
Accruals and deferred income	(13,325)	(13,325)
	475,863	362,937
Capital and reserves	475,863	362,937

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7 Stanley Road
Salford
Lancashire
M7 4EG

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

2	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2018 - 4).

Page 1

Midwest Estates (Manchester) Limited

(Registration number: 4388594)
Balance Sheet as at 31 March 2019

These financial statements have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

For the financial year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised by the Board on 27 January 2020 and signed on its behalf by:
 

.........................................

H Weiss
Director

Page 2

Midwest Estates (Manchester) Limited

Detailed Profit and Loss Account for the Year Ended 31 March 2019

	2019  £	2018  £
Surplus in Joint Property Investments	30,765	(45,390)
Rental income from investment property	29,476	22,327
Brokerage Commissions	167,522	144,701
	227,763	121,638
Rental overheads
Council tax	396	11
Agents commission	3,207	2,568
Insurance	966	492
Repairs & Maintenance	15,592	7,001
Chief rents	50	60
Management charges	1,365	-
Heat and light	56	-
Cleaning and general	110	-
Legal fees	60	-
	(21,802)	(10,132)
Administrative expenses
Wages and salaries (excluding directors)	15,952	10,104
Rent	-	3,000
Charitable donations	5,000	250,000
Sundry expenses	965	89
Management charges payable	-	30,000
Accountancy fees	2,460	2,460
Legal and professional fees	-	1,115
Bank charges & interest	362	591
Depreciation costs	718	797
	(25,457)	(298,156)
Operating profit/(loss)	180,504	(186,650)
Other interest receivable and similar income	20	400,029
Interest payable and similar charges	(30,717)	(22,876)
Cost of obtaining finance	(10,165)	-
	(40,862)	377,153
Profit before tax	139,642	190,503
Tax
Corporation tax charge	(26,715)	(50,880)
Previous Year Tax Adjustments	-	(72)

This page does not form part of the statutory financial statements.

Page 3

Midwest Estates (Manchester) Limited

Detailed Profit and Loss Account for the Year Ended 31 March 2019

	2019  £	2018  £
Profit after tax	112,927	139,551
Retained earnings brought forward	362,934	223,384
Retained earnings carried forward	475,861	362,935

This page does not form part of the statutory financial statements.

Page 4