Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-3032022-05-01false3truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 6941101 2022-05-01 2023-04-30 6941101 2021-05-01 2022-04-30 6941101 2023-04-30 6941101 2022-04-30 6941101 2021-05-01 6941101 1 2022-05-01 2023-04-30 6941101 1 2021-05-01 2022-04-30 6941101 2 2022-05-01 2023-04-30 6941101 2 2021-05-01 2022-04-30 6941101 3 2022-05-01 2023-04-30 6941101 3 2021-05-01 2022-04-30 6941101 4 2022-05-01 2023-04-30 6941101 4 2021-05-01 2022-04-30 6941101 d:Exceptional 1 2022-05-01 2023-04-30 6941101 d:Exceptional 1 2021-05-01 2022-04-30 6941101 d:Exceptional 2 2022-05-01 2023-04-30 6941101 d:Exceptional 2 2021-05-01 2022-04-30 6941101 e:CompanySecretary1 2022-05-01 2023-04-30 6941101 e:Director1 2022-05-01 2023-04-30 6941101 e:Director2 2022-05-01 2023-04-30 6941101 e:Director3 2022-05-01 2023-04-30 6941101 e:Director4 2022-05-01 2023-04-30 6941101 e:RegisteredOffice 2022-05-01 2023-04-30 6941101 d:FreeholdInvestmentProperty 2022-05-01 2023-04-30 6941101 d:FreeholdInvestmentProperty 2023-04-30 6941101 d:FreeholdInvestmentProperty 2022-04-30 6941101 d:FreeholdInvestmentProperty 2 2022-05-01 2023-04-30 6941101 d:CurrentFinancialInstruments 2023-04-30 6941101 d:CurrentFinancialInstruments 2022-04-30 6941101 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 6941101 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 6941101 d:UKTax 2022-05-01 2023-04-30 6941101 d:UKTax 2021-05-01 2022-04-30 6941101 d:ShareCapital 2022-05-01 2023-04-30 6941101 d:ShareCapital 2023-04-30 6941101 d:ShareCapital 2021-05-01 2022-04-30 6941101 d:ShareCapital 2022-04-30 6941101 d:ShareCapital 2021-05-01 6941101 d:InvestmentPropertiesRevaluationReserve 2022-05-01 2023-04-30 6941101 d:InvestmentPropertiesRevaluationReserve 2023-04-30 6941101 d:InvestmentPropertiesRevaluationReserve 1 2022-05-01 2023-04-30 6941101 d:InvestmentPropertiesRevaluationReserve 2 2022-05-01 2023-04-30 6941101 d:InvestmentPropertiesRevaluationReserve 3 2022-05-01 2023-04-30 6941101 d:InvestmentPropertiesRevaluationReserve 2021-05-01 2022-04-30 6941101 d:InvestmentPropertiesRevaluationReserve 2022-04-30 6941101 d:InvestmentPropertiesRevaluationReserve 2021-05-01 6941101 d:InvestmentPropertiesRevaluationReserve 1 2021-05-01 2022-04-30 6941101 d:InvestmentPropertiesRevaluationReserve 2 2021-05-01 2022-04-30 6941101 d:InvestmentPropertiesRevaluationReserve 3 2021-05-01 2022-04-30 6941101 d:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 6941101 d:RetainedEarningsAccumulatedLosses 2023-04-30 6941101 d:RetainedEarningsAccumulatedLosses 1 2022-05-01 2023-04-30 6941101 d:RetainedEarningsAccumulatedLosses 2 2022-05-01 2023-04-30 6941101 d:RetainedEarningsAccumulatedLosses 3 2022-05-01 2023-04-30 6941101 d:RetainedEarningsAccumulatedLosses 2021-05-01 2022-04-30 6941101 d:RetainedEarningsAccumulatedLosses 2022-04-30 6941101 d:RetainedEarningsAccumulatedLosses 2021-05-01 6941101 d:RetainedEarningsAccumulatedLosses 1 2021-05-01 2022-04-30 6941101 d:RetainedEarningsAccumulatedLosses 2 2021-05-01 2022-04-30 6941101 d:RetainedEarningsAccumulatedLosses 3 2021-05-01 2022-04-30 6941101 e:FRS102 2022-05-01 2023-04-30 6941101 e:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 6941101 e:FullAccounts 2022-05-01 2023-04-30 6941101 e:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 6941101 2 2022-05-01 2023-04-30 6941101 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 6941101 d:AcceleratedTaxDepreciationDeferredTax 2022-04-30 iso4217:GBP xbrli:pure

Registered number: 6941101










MTD COLN INDUSTRIAL LIMITED








UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

 
MTD COLN INDUSTRIAL LIMITED
 

COMPANY INFORMATION


DIRECTORS
Mark Pears CBE 
Sir Trevor Pears CMG 
David Pears 
WPG Registrars 




COMPANY SECRETARY
William Bennett



REGISTERED NUMBER
6941101



REGISTERED OFFICE
Ground Floor
30 City Road

London

EC1Y 2AB





 
MTD COLN INDUSTRIAL LIMITED
 

CONTENTS



Page
Directors' Report
1
Statement of Comprehensive Income
2
Statement of Financial Position
3
Statement of Changes in Equity
4
Notes to the Financial Statements
5 - 13


 
MTD COLN INDUSTRIAL LIMITED
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2023

The directors present their report and the financial statements for the year ended 30 April 2023.

PRINCIPAL ACTIVITY

The principal activity of the company is property investment.        

DIRECTORS

The directors who served during the year were:

Mark Pears CBE 
Sir Trevor Pears CMG 
David Pears 
WPG Registrars 

SMALL COMPANIES NOTE

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 15 November 2023 and signed on its behalf.
 





William Bennett
Secretary

Page 1

 
MTD COLN INDUSTRIAL LIMITED
 

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2023

2023
2022
Note
£
£

  

Turnover
  
7,087,661
7,687,165

Cost of sales
  
(1,789,383)
(2,189,981)

GROSS PROFIT
  
5,298,278
5,497,184

Administrative expenses
  
(2,485,421)
(3,202,025)

Profit on sale of investment properties
 3 
939,609
6,666,703

Fair value movements
 7 
(6,032,812)
5,065,476

OPERATING (LOSS)/PROFIT
  
(2,280,346)
14,027,338

Interest receivable and similar income
  
135
22,903

Interest payable and similar charges
 5 
(4,632,482)
(4,738,251)

(LOSS)/PROFIT BEFORE TAX
  
(6,912,693)
9,311,990

Tax on (loss)/profit
 6 
(136,998)
(3,025,035)

(LOSS)/PROFIT FOR THE FINANCIAL YEAR
  
(7,049,691)
6,286,955

TOTAL COMPREHENSIVE INCOME FOR THE YEAR
  
(7,049,691)
6,286,955

The notes on pages 5 to 13 form part of these financial statements.

Page 2

 
MTD COLN INDUSTRIAL LIMITED
REGISTERED NUMBER: 6941101

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Investment property
 7 
100,091,531
117,602,666

  
100,091,531
117,602,666

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 8 
1,108,158
847,399

Bank & cash balances
  
919,031
768,458

  
2,027,189
1,615,857

Creditors: amounts falling due within one year
 9 
(78,851,857)
(88,674,104)

NET CURRENT LIABILITIES
  
 
 
(76,824,668)
 
 
(87,058,247)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
23,266,863
30,544,419

PROVISIONS FOR LIABILITIES
  

Deferred taxation
 10 
(3,531,346)
(3,759,211)

  
 
 
(3,531,346)
 
 
(3,759,211)

NET ASSETS
  
19,735,517
26,785,208


CAPITAL AND RESERVES
  

Called up share capital 
  
999
999

Investment property revaluation reserve
 11 
8,372,194
9,055,788

Profit and loss account
 11 
11,362,324
17,728,421

TOTAL EQUITY
  
19,735,517
26,785,208


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 November 2023.




David Pears
Director

The notes on pages 5 to 13 form part of these financial statements.

Page 3

 
MTD COLN INDUSTRIAL LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2023


Share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 May 2022
999
9,055,788
17,728,421
26,785,208


COMPREHENSIVE INCOME FOR THE YEAR

Loss for the year

-
-
(7,049,691)
(7,049,691)

Transfer realised gains to retained earnings
-
(540,371)
540,371
-

Deferred tax movements
-
227,865
(227,865)
-

Transfer revaluation during the year
-
(371,088)
371,088
-


TOTAL COMPREHENSIVE INCOME FOR THE YEAR
-
(683,594)
683,594
-


TOTAL COMPREHENSIVE INCOME FOR THE YEAR
-
(683,594)
(6,366,097)
(7,049,691)


AT 30 APRIL 2023
999
8,372,194
11,362,324
19,735,517



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2022


Share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 May 2021
999
8,153,496
12,343,758
20,498,253


COMPREHENSIVE INCOME FOR THE YEAR

Profit for the year

-
-
6,286,955
6,286,955

Transfer realised gains to retained earnings
-
(3,823,047)
3,823,047
-

Deferred tax movements
-
(1,325,489)
1,325,489
-

Transfer revaluation during the year
-
6,050,828
(6,050,828)
-


TOTAL COMPREHENSIVE INCOME FOR THE YEAR
-
902,292
(902,292)
-


TOTAL COMPREHENSIVE INCOME FOR THE YEAR
-
902,292
5,384,663
6,286,955


AT 30 APRIL 2022
999
9,055,788
17,728,421
26,785,208


The notes on pages 5 to 13 form part of these financial statements.
Page 4

 
MTD COLN INDUSTRIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


GENERAL INFORMATION

MTD Coln Industrial Limited is a private company limited by shares and incorporated in England and Wales. The registered office is Ground Floor, 30 City Road, London EC1Y 2AB. The principal place  of business is Haskell House, 152 West End Lane, London NW6 1SD.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 other than where additional disclosure is required to show a true and fair view.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The company's functional and presentational currency is GBP and rounded to the nearest £1.
The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.Thus the directors continue to adopt the going concern basis of accounting in preparing these financial statements. At the Statement of financial position date, the group had net current liabilities of £76,824,668 (2022 - £87,058,247). The validity of the going concern concept is dependent on the continued support of the creditors. 

  
2.3

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the  rents receivable. 

 
2.4

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by our directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

 
2.5

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Page 5

 
MTD COLN INDUSTRIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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 trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the
Page 6

 
MTD COLN INDUSTRIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.ACCOUNTING POLICIES (CONTINUED)


2.7
FINANCIAL INSTRUMENTS (CONTINUED)

contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.


Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

  
2.8

CREDITORS

Short term creditors are measured at the transaction price.

 
2.9

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

Page 7

 
MTD COLN INDUSTRIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.10

PROVISIONS FOR LIABILITIES

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.11

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


PROFIT ON SALE OF INVESTMENT PROPERTIES

2023
2022
£
£

Sale of investment properties
12,417,932
34,116,150

Historic cost
(10,937,952)
(23,626,399)

1,479,980
10,489,751


Prior years fair value surplus realised
(540,371)
(3,823,048)

939,609
6,666,703



Page 8

 
MTD COLN INDUSTRIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

4.


EMPLOYEES

The average monthly number of employees, including the directors, during the year was as follows:      


2023
2022
No.
No.



Directors
3
3


5.


INTEREST PAYABLE AND SIMILAR CHARGES

2023
2022
£
£


Other interest payable
4,632,482
4,738,251

4,632,482
4,738,251


6.


TAXATION


2023
2022
£
£

CORPORATION TAX


Current tax on profits for the year
364,863
973,167


364,863
973,167


TOTAL CURRENT TAX
364,863
973,167

DEFERRED TAX


Origination and reversal of timing differences
(227,865)
1,325,489

Tax on surplus realised
-
726,379

TOTAL DEFERRED TAX
(227,865)
2,051,868


TAXATION ON PROFIT ON ORDINARY ACTIVITIES
136,998
3,025,035
Page 9

 
MTD COLN INDUSTRIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
 
6.TAXATION (CONTINUED)


FACTORS AFFECTING TAX CHARGE FOR THE YEAR

The tax assessed for the year is higher than (2022 - higher than) the standard rate of corporation tax in the UK of 19.5% (2022 - 19%). The differences are explained below:

2023
2022
£
£


(Loss)/profit on ordinary activities before tax
(6,912,693)
9,311,990


(Loss)/profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19.5% (2022 - 19%)
(1,347,975)
1,769,278

EFFECTS OF:


Expenses not deductible for tax purposes
513,308
168,000

Capital allowances for year in excess of depreciation
(1,407)
(1,671)

Timing difference leading to a (decrease)/increase in taxation
(227,865)
1,325,489

Other timing differences leading to a decrease in taxation
(129)
-

Book profit on chargeable assets
(183,223)
(1,266,673)

Capital gains
207,891
1,993,052

Valuation losses/(gains) not taxable
1,176,398
(962,440)

TOTAL TAX CHARGE FOR THE YEAR
136,998
3,025,035


FACTORS THAT MAY AFFECT FUTURE TAX CHARGES

There were no factors that may affect future tax charges.

Page 10

 
MTD COLN INDUSTRIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

7.


INVESTMENT PROPERTY


Freehold investment property

£



VALUATION


At 1 May 2022
117,602,666


Disposals
(11,478,323)


Fair value movement
(6,032,812)



AT 30 APRIL 2023
100,091,531

The 2023 valuations were made by directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
88,187,991
104,787,665

88,187,991
104,787,665


8.


DEBTORS

2023
2022
£
£


Sundry loan
813,910
630,303

Other debtors
282,328
176,743

Prepayments and accrued income
11,920
40,353

1,108,158
847,399



9.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Sundry loan
74,140,855
82,035,295

Corporation tax
278,421
1,976,279

Other taxation and social security
197,486
334,220

Other creditors
1,517,360
1,661,289

Accruals and deferred income
2,717,735
2,667,021

78,851,857
88,674,104


Page 11

 
MTD COLN INDUSTRIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

10.


DEFERRED TAXATION




2023
2022


£

£






At beginning of year
3,759,211
2,433,722


(Released)/charged to income statement
(227,865)
1,325,489



AT END OF YEAR
3,531,346
3,759,211

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Tax on revaluation of investment properties
3,531,346
3,759,211

3,531,346
3,759,211


11.


RESERVES

Investment property revaluation reserve

The investment property revaluation reserve includes all current and prior year movements.

Profit & loss account

The profit and loss account includes all current and prior year retained profits and losses.
Page 12

 
MTD COLN INDUSTRIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

12.


RELATED PARTY TRANSACTIONS

During the year there were the following transactions with companies and entities in which the directors,Mark Pears CBE, Sir Trevor Pears CMG and David Pears have an interest.    


2023
2022
£
£

Management fees payable
925,572
727,000
Loan interest payable to WPG Finance Limited
4,605,608
4,738,251
Loan interest receivable from WPG Treasury Limited
-
22,363

At the year end there were the following balances with companies and entities in which the directors Mark Pears CBE, Sir Trevor Pears CMG and David Pears have an interest.





2023
2022
£
£



Loan due to WPG Finance Limited
74,140,853
82,035,295

Loan due from WPG Treasury Limited
813,910
630,303

The company received estate agents services from a partnership in which the directors have an interest, the cost of which amounted to £530,300 (2022 - £558,700).

Page 13