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REGISTERED NUMBER: 03559660 (England and Wales)



















MELVIEW LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 23 DECEMBER 2022






MELVIEW LIMITED (REGISTERED NUMBER: 03559660)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 23 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


MELVIEW LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 23 DECEMBER 2022







DIRECTORS: Mr A Low
Mr J Low





SECRETARY: Mr A Low





REGISTERED OFFICE: First Floor
94 Stamford Hill
London
N16 6XS





REGISTERED NUMBER: 03559660 (England and Wales)





ACCOUNTANTS: Sugarwhite Meyer Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS

MELVIEW LIMITED (REGISTERED NUMBER: 03559660)

BALANCE SHEET
23 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 33,750 45,000
Investment property 6 19,984,882 19,921,320
20,018,632 19,966,320

CURRENT ASSETS
Debtors 7 13,933,230 12,752,285
Cash at bank 10,176 10,137
13,943,406 12,762,422
CREDITORS
Amounts falling due within one year 8 3,234,719 2,105,618
NET CURRENT ASSETS 10,708,687 10,656,804
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,727,319

30,623,124

CREDITORS
Amounts falling due after more than one
year

9

(22,850,000

)

(22,850,000

)

PROVISIONS FOR LIABILITIES 11 (959,319 ) (932,595 )
NET ASSETS 6,918,000 6,840,529

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 12 4,736,252 4,736,252
Retained earnings 2,181,648 2,104,177
6,918,000 6,840,529

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 23 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 23 December 2022 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.

MELVIEW LIMITED (REGISTERED NUMBER: 03559660)

BALANCE SHEET - continued
23 DECEMBER 2022


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 November 2023 and were signed on its behalf by:





Mr A Low - Director


MELVIEW LIMITED (REGISTERED NUMBER: 03559660)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 23 DECEMBER 2022

1. STATUTORY INFORMATION

Melview 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.

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 on the historical cost basis, as modified to include investment properties measured at fair value through profit or loss.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. The estimates and underlying assumptions are reviewed on an ongoing basis.

Turnover
Turnover is recognised at the fair value of the consideration receivable in respect of services provided in the normal course of business. The turnover of the company is represented by rents and charges receivable in respect of the company's investment portfolio. Rental income is accounted for on an accruals basis.

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.
Fixtures and fittings - 25% on reducing balance

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


MELVIEW LIMITED (REGISTERED NUMBER: 03559660)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 23 DECEMBER 2022

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 4 (2021 - 4 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 24 December 2021
and 23 December 2022 61,572
DEPRECIATION
At 24 December 2021 16,572
Charge for year 11,250
At 23 December 2022 27,822
NET BOOK VALUE
At 23 December 2022 33,750
At 23 December 2021 45,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 24 December 2021 19,921,320
Additions 63,562
At 23 December 2022 19,984,882
NET BOOK VALUE
At 23 December 2022 19,984,882
At 23 December 2021 19,921,320

The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the company's directors who have the experience and expertise required to undertake such an exercise. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties in the same location.

The historical cost of investment properties at 23 December 2022 is £14,284,583.

MELVIEW LIMITED (REGISTERED NUMBER: 03559660)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 23 DECEMBER 2022

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 13,933,230 12,752,285

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 2,306,033 1,240,349
Trade creditors 18,094 24,870
Taxation and social security (375 ) 5,441
Other creditors 910,967 834,958
3,234,719 2,105,618

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 22,850,000 22,850,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more than 5 years by
non-instalments

22,850,000

22,850,000

10. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 22,850,000 22,850,000

The bank loans are secured by legal charges over some of the company's investment properties.

11. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax 959,319 932,595

Deferred
tax
£   
Balance at 24 December 2021 932,595
Provided during year 26,724
Balance at 23 December 2022 959,319

Deferred tax arises from accelerated capital allowances and the revaluation of investment properties, reduced by the availability of tax losses carried forward.

MELVIEW LIMITED (REGISTERED NUMBER: 03559660)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 23 DECEMBER 2022

12. RESERVES
Fair
value
reserve
£   
At 24 December 2021
and 23 December 2022 4,736,252

13. CONTINGENT LIABILITIES

The company's properties are used as security for loans given to other companies.