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REGISTERED NUMBER: 04631096 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Mellow Property Developments Limited

Mellow Property Developments Limited (Registered number: 04631096)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mellow Property Developments Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs E Borowiecka
Mr N P Borowiecki





SECRETARY: Mrs E Borowiecka





REGISTERED OFFICE: 81a Grove Park
London
SE5 8LE





REGISTERED NUMBER: 04631096 (England and Wales)

Mellow Property Developments Limited (Registered number: 04631096)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 2,952 4,592
Investment property 6 975,000 975,000
977,952 979,592

CURRENT ASSETS
Stocks 714,482 675,848
Debtors 7 7,071 980
Cash at bank and in hand 22,385 72,459
743,938 749,287
CREDITORS
Amounts falling due within one year 8 66,455 68,992
NET CURRENT ASSETS 677,483 680,295
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,655,435

1,659,887

CREDITORS
Amounts falling due after more than one
year

9

(552,780

)

(552,780

)

PROVISIONS FOR LIABILITIES (119,311 ) (92,853 )
NET ASSETS 983,344 1,014,254

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 11 562,557 562,557
Retained earnings 420,785 451,695
983,344 1,014,254

Mellow Property Developments Limited (Registered number: 04631096)

Balance Sheet - continued
31 March 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 4 October 2023 and were signed on its behalf by:




Mrs E Borowiecka - Director



Mr N P Borowiecki - Director


Mellow Property Developments Limited (Registered number: 04631096)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Mellow Property Developments 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.

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


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

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.


Mellow Property Developments Limited (Registered number: 04631096)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 34,960
Disposals (995 )
At 31 March 2023 33,965
DEPRECIATION
At 1 April 2022 30,368
Charge for year 983
Eliminated on disposal (338 )
At 31 March 2023 31,013
NET BOOK VALUE
At 31 March 2023 2,952
At 31 March 2022 4,592

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 975,000
NET BOOK VALUE
At 31 March 2023 975,000
At 31 March 2022 975,000

Mellow Property Developments Limited (Registered number: 04631096)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


6. INVESTMENT PROPERTY - continued

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2020 50,000
Valuation in 2016 125,000
Valuation in 2015 450,000
Cost 350,000
975,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 350,000 350,000

Investment property was valued on an open market basis basis on 31 March 2023 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 7,071 980

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 12,226 15,825
Taxation and social security 222 -
Other creditors 54,007 53,167
66,455 68,992

Other creditors consist of accrued expenses of £1,872 (2022 - £3,960), directors loan accounts of £49,828 (2022 - £46,487), deposits of £2,300 (2022 - £2,720), and credit card balances of £7 (2022 - £nil).

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 552,780 552,780

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst - 552,780

Mellow Property Developments Limited (Registered number: 04631096)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 552,780 552,780

On 6 January 2022, the company was granted an interest only mortgage repayable over 5 years commencing 1 March 2022. The loan is secured on the investment property.

11. RESERVES
Fair
value
reserve
£   
At 1 April 2022
and 31 March 2023 562,557