MAF Property Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 09269830 (England and Wales)

Abbreviated Unaudited Accounts

for the Period 17 October 2014 to 31 August 2015

for

MAF Property Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

D G Chapman

S K Chapman

REGISTERED OFFICE:

22 Maisies Way

The Village

South Normanton

Derbyshire

DE55 2DS

REGISTERED NUMBER:

09269830 (England and Wales)

ACCOUNTANTS:

Botham Accounting Limited

Chartered Accountants

14 Clarendon Street

Nottingham

Nottinghamshire

NG1 5HQ

FIXED ASSETS

Tangible assets

2

200,743

Investments

3

100

200,843

CURRENT ASSETS

Debtors

2,813

Cash at bank

12,028

14,841

CREDITORS

Amounts falling due within one year

4

71,331

NET CURRENT LIABILITIES

(56,490

)

TOTAL ASSETS LESS CURRENT LIABILITIES

144,353

CREDITORS

Amounts falling due after more than one year

4

142,461

NET ASSETS

1,892

CAPITAL AND RESERVES

Called up share capital

5

200

Profit and loss account

1,692

SHAREHOLDERS' FUNDS

1,892

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 August 2015.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 12 February 2016 and were signed on its behalf by:

S K Chapman - Director

D G Chapman - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Preparation of consolidated financial statements

The financial statements contain information about MAF Property Limited as an individual company

and do not contain consolidated financial information as the parent of a group. The company has taken

the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial

statements.

Turnover

Turnover represents net rental income for the period under review, excluding value added tax.

Tangible fixed assets

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

Plant and machinery etc

-

15% on reducing balance

Freehold property is not depreciated as the directors believe that its value at the balance sheet date is

in excess of its original cost.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

201,321

At 31 August 2015

201,321

DEPRECIATION

Charge for period

578

At 31 August 2015

578

NET BOOK VALUE

At 31 August 2015

200,743

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

Additions

100

At 31 August 2015

100

NET BOOK VALUE

At 31 August 2015

100

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

Midlands Asset Finance Limited

Nature of business: Finance broker

%

Class of shares:

holding

A ordinary shares

100.00

B Ordinary shares

100.00

2015

£

£

Aggregate capital and reserves

68,490

28,590

Profit for the period

267,850

122,327

4.

CREDITORS

Creditors include an amount of £ 156,085 for which security has been given.

They also include the following debts falling due in more than five years:

£

Repayable by instalments

87,963

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

A Ordinary shares

£1

100

100

B Ordinary shares

£1

100

200

The following shares were allotted and fully paid for cash at par on incorporation:

50 A Ordinary shares of £1 each

50 B Ordinary shares of £1 each

The following shares were allotted and fully paid in consideration of the transfer of the allottees' shares

in Midlands Asset Finance Limited to the Company:

50 A Ordinary shares of £1 each

50 B Ordinary shares of £1 each

.