IRIS Accounts Production v23.2.0.158 01727416 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false true false Fair value model Ordinary 1.00000 700000 400000 300000 700000 700000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh017274162022-03-31017274162023-03-31017274162022-04-012023-03-31017274162021-03-31017274162021-04-012022-03-31017274162022-03-3101727416ns10:Originalns15:EnglandWales2022-04-012023-03-3101727416ns14:PoundSterlingns10:Original2022-04-012023-03-3101727416ns10:Originalns10:Director12022-04-012023-03-3101727416ns10:Original2022-04-012023-03-3101727416ns10:Original2023-03-3101727416ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3101727416ns10:Originalns10:SmallEntities2022-04-012023-03-3101727416ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3101727416ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3101727416ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3101727416ns10:Originalns10:FullAccounts2022-04-012023-03-3101727416ns10:Originalns10:OrdinaryShareClass12022-04-012023-03-3101727416ns10:Original41ns10:Director12022-03-3101727416ns10:Original41ns10:Director12021-03-3101727416ns10:Original41ns10:Director12021-04-012022-03-3101727416ns10:Original41ns10:Director12023-03-3101727416ns10:Original41ns10:Director12022-03-3101727416ns10:Originalns10:Director22022-04-012023-03-3101727416ns10:Originalns10:RegisteredOffice2022-04-012023-03-3101727416ns10:Original2022-03-3101727416ns10:Originalns5:CurrentFinancialInstruments2023-03-3101727416ns10:Originalns5:CurrentFinancialInstruments2022-03-3101727416ns10:Originalns5:Non-currentFinancialInstruments2023-03-3101727416ns10:Originalns5:Non-currentFinancialInstruments2022-03-3101727416ns5:ShareCapitalns10:Original2023-03-3101727416ns5:ShareCapitalns10:Original2022-03-3101727416ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3101727416ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3101727416ns10:Originalns5:MotorVehicles2022-04-012023-03-3101727416ns10:Original2021-04-012022-03-3101727416ns10:Originalns5:MotorVehicles2022-03-3101727416ns10:Originalns5:MotorVehicles2023-03-3101727416ns10:Originalns5:MotorVehicles2022-03-3101727416ns10:Originalns5:CostValuation2023-03-3101727416ns10:Original2022-03-3101727416ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3101727416ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3101727416ns10:Originalns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-03-3101727416ns10:Originalns5:Non-currentFinancialInstrumentsns5:AfterOneYear2022-03-3101727416ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-03-3101727416ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-03-3101727416ns10:Originalns10:OrdinaryShareClass12023-03-3101727416ns10:Originalns10:Director222022-03-3101727416ns10:Originalns10:Director222021-03-3101727416ns10:Originalns10:Director222022-04-012023-03-3101727416ns10:Originalns10:Director222021-04-012022-03-3101727416ns10:Originalns10:Director222023-03-3101727416ns10:Originalns10:Director222022-03-31
REGISTERED NUMBER: 01727416 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

MELBA ESTATES LIMITED

MELBA ESTATES LIMITED (Registered number: 01727416)






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


MELBA ESTATES LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs M Rabinowitz
Mr L Rabinowitz





REGISTERED OFFICE: 6 Ground Floor
220 The Vale
London
NW11 8SR





REGISTERED NUMBER: 01727416 (England and Wales)






MELBA ESTATES LIMITED (Registered number: 01727416)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,657 28,875
Investments 5 2 2
Investment property 6 718,587 718,587
740,246 747,464

CURRENT ASSETS
Debtors 7 1,706,930 1,669,886
Prepayments and accrued income 4,798 323
Cash at bank 725,957 -
2,437,685 1,670,209
CREDITORS
Amounts falling due within one year 8 273,477 327,834
NET CURRENT ASSETS 2,164,208 1,342,375
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,904,454

2,089,839

CREDITORS
Amounts falling due after more than one year 9 3,000,000 2,000,000
NET (LIABILITIES)/ASSETS (95,546 ) 89,839

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings (95,548 ) 89,837
SHAREHOLDERS' FUNDS (95,546 ) 89,839

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.

MELBA ESTATES LIMITED (Registered number: 01727416)

Balance Sheet - continued
31 March 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 Board of Directors and authorised for issue on 30 October 2023 and were signed on its behalf by:





Mr L Rabinowitz - Director


MELBA ESTATES LIMITED (Registered number: 01727416)

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

1. STATUTORY INFORMATION

MELBA ESTATES 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. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.
Motor vehicles - 25% on reducing balance

Investments in associates
Investments in associate undertakings are recognised at cost.

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.

MELBA ESTATES LIMITED (Registered number: 01727416)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Initial recognition of financial assets and liabilities.

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Initial measurement
When a financial asset or liability is recognised initially, the company shall measure it at the transaction price including transaction costs except in the initial measurement of financial assets and liabilities that are measured at fair value through profit or loss unless the arrangement constitutes, in effect, a financial transaction. If the arrangement constitutes a financial transaction, the company shall measure the financial asset or financial liability at the present value of the future payments discounted at the market rate of interest for a similar debt instrument.

Subsequent measurement
At the end of each reporting period, the company shall measure financial instruments without any deduction for transaction costs the company may incur on sale or other disposal. Debt instruments shall be measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year shall be measured at the undiscounted amount of the cash or other consideration expected to be paid or received unless the arrangement constitutes, in effect, a financial transaction. If the arrangement constitutes a financing transaction, the company shall measure the debt instrument at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment of financial instruments
Impairment of financial instruments measured at cost or amortised cost. At the end of each reporting period, the company shall assess whether there is objective evidence of impairment of any financial assets that are measured at cost or amortised cost.If there is objective evidence of impairment, the company shall recognise an impairment loss in profit or loss immediately.

Derecognition of a financial asset
The company shall derecognise a financial asset only when the contractual rights to the cash flows from the financial asset expire or are settled, or the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the company, despite having retained some significant risks and rewards of ownership, has transferred control of the asset to another party and other party has the practical ability to sell the asset in its entirety to an unrelated third party and is able to exercise that ability unilaterally and without needing to impose additional restrictions on the transfer. In this case, the company shall derecognise the asset and recognise separately any rights and obligations retained or created in the transfer.

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.


MELBA ESTATES LIMITED (Registered number: 01727416)

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 April 2022
and 31 March 2023 38,500
DEPRECIATION
At 1 April 2022 9,625
Charge for year 7,218
At 31 March 2023 16,843
NET BOOK VALUE
At 31 March 2023 21,657
At 31 March 2022 28,875

MELBA ESTATES LIMITED (Registered number: 01727416)

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

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 April 2022
and 31 March 2023 2
NET BOOK VALUE
At 31 March 2023 2
At 31 March 2022 2

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 718,587
NET BOOK VALUE
At 31 March 2023 718,587
At 31 March 2022 718,587

7. DEBTORS
31.3.23 31.3.22
£    £   
Amounts falling due within one year:
Trade debtors 26,911 40,367
Amounts owed by participating interests 980,019 929,519
1,006,930 969,886

Amounts falling due after more than one year:
Other debtors 700,000 700,000

Aggregate amounts 1,706,930 1,669,886

MELBA ESTATES LIMITED (Registered number: 01727416)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts - 19,904
Payments on account 9,975 -
Trade creditors 1 -
Amounts owed to participating interests 250,000 250,000
Tax 5,330 32,225
Social security and other taxes 1,789 1,359
Directors' current accounts 193 16,157
Accrued expenses 6,189 8,189
273,477 327,834

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 3,000,000 2,000,000

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
2 Ordinary £1 2 2

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
Mrs M Rabinowitz and Mr L Rabinowitz
Balance outstanding at start of year 700,000 400,000
Amounts advanced - 300,000
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 700,000 700,000

Loan to director was made in March 2021. Further advance of £300,000 was made in March 2022. Interest is charged at market rate, this being currently at three percent per year.The loan is repayable within five years by equal monthly instalments commencing in April 2022..