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REGISTERED NUMBER: 03300539 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 January 2023

for

MINTGREEN PROPERTIES LIMITED

MINTGREEN PROPERTIES LIMITED (REGISTERED NUMBER: 03300539)






Contents of the Financial Statements
for the Year Ended 28 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MINTGREEN PROPERTIES LIMITED

Company Information
for the Year Ended 28 January 2023







DIRECTOR: B Fugler





REGISTERED OFFICE: 70 Charlotte Street
London
W1T 4QG





REGISTERED NUMBER: 03300539 (England and Wales)





ACCOUNTANTS: Primera Accountants Limited
First Floor
Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX

MINTGREEN PROPERTIES LIMITED (REGISTERED NUMBER: 03300539)

Balance Sheet
28 January 2023

28.1.23 28.1.22
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 24,167,309 21,323,817
Investments 5 7,120,762 7,748,769
31,288,071 29,072,586

CURRENT ASSETS
Debtors 6 13,014,045 12,753,296
Cash at bank 1,284,792 796,170
14,298,837 13,549,466
CREDITORS
Amounts falling due within one year 7 (498,210 ) (859,022 )
NET CURRENT ASSETS 13,800,627 12,690,444
TOTAL ASSETS LESS CURRENT
LIABILITIES

45,088,698

41,763,030

CREDITORS
Amounts falling due after more than one
year

8

(34,499,452

)

(33,260,135

)

PROVISIONS FOR LIABILITIES (2,471,772 ) (1,814,298 )
NET ASSETS 8,117,474 6,688,597

CAPITAL AND RESERVES
Called up share capital 10 2 2
Revaluation reserve 8,007,724 6,688,094
Retained earnings 109,748 501
SHAREHOLDERS' FUNDS 8,117,474 6,688,597

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 January 2023 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.

MINTGREEN PROPERTIES LIMITED (REGISTERED NUMBER: 03300539)

Balance Sheet - continued
28 January 2023


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 director and authorised for issue on 27 October 2023 and were signed by:





B Fugler - Director


MINTGREEN PROPERTIES LIMITED (REGISTERED NUMBER: 03300539)

Notes to the Financial Statements
for the Year Ended 28 January 2023

1. STATUTORY INFORMATION

Mintgreen 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.

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


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Judgements in respect of valuation of investment properties have had the most significant effects on amounts recognised in the financial statements.

Turnover
Turnover comprises the fair value of the consideration rent received or receivable and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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

Fixtures and fittings - 25% on reducing balance
Motor vehicle - 25% on reducing balance

MINTGREEN PROPERTIES LIMITED (REGISTERED NUMBER: 03300539)

Notes to the Financial Statements - continued
for the Year Ended 28 January 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Schedule 1A of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and
preference shares that are classified as debt, are initially recognised at transaction price unless the
arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

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.


MINTGREEN PROPERTIES LIMITED (REGISTERED NUMBER: 03300539)

Notes to the Financial Statements - continued
for the Year Ended 28 January 2023

2. 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.

Going concern
The directors and bankers have provided their intentions to continue to provide the financial support to enable the company to remain in business for the foreseeable future, therefore the financial statements have been prepared on a going concern basis.

Investments
Listed and unlisted investments are carried at fair value and changes to fair value are recognised in the Profit and Loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Long and Motor
property leasehold fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 29 January 2022 16,559,384 4,761,575 59,878 - 21,380,837
Additions 486,768 - 13,399 34,995 535,162
Disposals (271,887 ) (72,044 ) - - (343,931 )
Revaluations 1,439,791 1,217,873 - - 2,657,664
At 28 January 2023 18,214,056 5,907,404 73,277 34,995 24,229,732
DEPRECIATION
At 29 January 2022 - - 57,020 - 57,020
Charge for year - - 2,487 2,916 5,403
At 28 January 2023 - - 59,507 2,916 62,423
NET BOOK VALUE
At 28 January 2023 18,214,056 5,907,404 13,770 32,079 24,167,309
At 28 January 2022 16,559,384 4,761,575 2,858 - 21,323,817

MINTGREEN PROPERTIES LIMITED (REGISTERED NUMBER: 03300539)

Notes to the Financial Statements - continued
for the Year Ended 28 January 2023

4. PROPERTY, PLANT AND EQUIPMENT - continued

Cost or valuation at 28 January 2023 is represented by:

Fixtures
Freehold Long and Motor
property leasehold fittings vehicles Totals
£    £    £    £    £   
Valuation in 2018 6,673,950 1,486,314 - - 8,160,264
Valuation in 2020 123,513 - 57,238 - 180,751
Valuation in 2021 9,048,311 3,275,261 2,640 - 12,326,212
Valuation in 2022 713,610 - - - 713,610
Valuation in 2023 1,439,791 1,217,873 13,399 - 2,671,063
Cost 214,881 (72,044 ) - 34,995 177,832
18,214,056 5,907,404 73,277 34,995 24,229,732

The freehold and leasehold properties were revalued by the directors at their fair value at the year end.

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 29 January 2022 7,748,769
Additions 52,554
Revaluations (680,561 )
At 28 January 2023 7,120,762
NET BOOK VALUE
At 28 January 2023 7,120,762
At 28 January 2022 7,748,769

Cost or valuation at 28 January 2023 is represented by:

Other
investments
£   
Valuation in 2023 7,120,762

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.1.23 28.1.22
£    £   
Trade debtors 25,201 193,128
Other debtors 12,988,844 12,560,168
13,014,045 12,753,296

MINTGREEN PROPERTIES LIMITED (REGISTERED NUMBER: 03300539)

Notes to the Financial Statements - continued
for the Year Ended 28 January 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.1.23 28.1.22
£    £   
Bank loans and overdrafts 10,649 9,999
Trade creditors 51,695 83,465
Other creditors 435,866 765,558
498,210 859,022

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.1.23 28.1.22
£    £   
Bank loans 28,686,942 29,563,595
Other creditors 5,812,510 3,696,540
34,499,452 33,260,135

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans 17,665,048 18,199,441

9. SECURED DEBTS

The following secured debts are included within creditors:

28.1.23 28.1.22
£    £   
Bank loans 28,697,591 29,573,594

The bank loans are secured by the company's freehold and leasehold properties.

The director has provided personal guarantee limited to the sum of £2,000,000 in favour of the bank.

Personal guarantee and corporate guarantee have been provided by related parties in favour of the bank.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.1.23 28.1.22
value: £    £   
2 Ordinary share £1 2 2

11. RELATED PARTY DISCLOSURES

Included in debtors amounts falling due within one year are loans to related companies of £12,865,842 (2022: £12,335,168). The loans are interest free and repayable on demand.

Included in creditors amounts falling due within one year is an amount owed to related companies of £125,645 (2022: £405,895).