2022-08-012023-07-312023-07-31false02864560MIZEN DEVELOPMENTS 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MIZEN DEVELOPMENTS LIMITED

Registered Number
02864560
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

MIZEN DEVELOPMENTS LIMITED
Company Information
for the year from 1 August 2022 to 31 July 2023

Directors

TANSEY, Alan Joseph
TANSEY, Barry Bernard

Company Secretary

TANSEY, Barry Bernard

Registered Address

No 1 Railshead Road
St Margarets
Isleworth
TW7 7EP

Registered Number

02864560 (England and Wales)
MIZEN DEVELOPMENTS LIMITED
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets32,766,0002,766,000
2,766,0002,766,000
Current assets
Debtors4209,822254,401
Cash at bank and on hand30,42385,696
240,245340,097
Creditors amounts falling due within one year5(472,206)(139,330)
Net current assets (liabilities)(231,961)200,767
Total assets less current liabilities2,534,0392,966,767
Creditors amounts falling due after one year6(1,608,366)(1,623,982)
Provisions for liabilities7(40,749)(120,000)
Net assets884,9241,222,785
Capital and reserves
Called up share capital22
Revaluation reserve794,925794,925
Profit and loss account89,997427,858
Shareholders' funds884,9241,222,785
The financial statements were approved and authorised for issue by the Board of Directors on 24 July 2024, and are signed on its behalf by:
TANSEY, Alan Joseph
Director
Registered Company No. 02864560
MIZEN DEVELOPMENTS LIMITED
Notes to the Financial Statements
for the year ended 31 July 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
Turnover represents income receivable during the year from ground rents.
Finance costs
Interest on borrowings is charged to the profit and loss account when incurred. Other finance costs are charged over the term of the debt.
Current taxation
The current tax charge is based on taxable profit for the year, using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Deferred tax
Deferred tax balances are recognised for all timing differences, at rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account.
Tangible fixed assets and depreciation
Investment properties are stated at fair value. Changes in fair value are recognised in the profit and loss account, and thereafter transferred to an undistributable reserve. No depreciation is provided.
2.Average number of employees

20232022
Average number of employees during the year33
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 August 222,766,000
At 31 July 232,766,000
Net book value
At 31 July 232,766,000
At 31 July 222,766,000
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables144,996214,037
Amounts owed by group undertakings23,625-
Other debtors93699
Prepayments and accrued income40,26540,265
Total209,822254,401
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables1,4401,256
Amounts owed to related parties84,96671,466
Taxation and social security-46,703
Other creditors-13,705
Accrued liabilities and deferred income385,8006,200
Total472,206139,330
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts1,316,6641,378,982
Amounts owed to related parties291,702245,000
Total1,608,3661,623,982
7.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)40,749120,000
Total40,749120,000
8.Share capital
The Allotted, called up and fully paid Share capital is two £1 Ordinary shares.
9.Controlling party
The company is a private limited company incorporated in England. Its registered number is 02864560. Its registered office and principal place of business is No 1 Railshead Road, St Margarets, Old Isleworth, Middlesex, TW7 7EP. The company is a wholly-owned subsidiary of J T Freeholds Limited. Its registered office is No 1 Railshead Road, St Margarets, Old Isleworth, Middlesex, TW7 7EP. The company is ultimately controlled by the Jerusalem Trust, based in the Isle of Man. The financial statements are presented in sterling, which is the functional currency of the company.