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Company No: 10503018 (England and Wales)

MULBERRY HOUSE HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

MULBERRY HOUSE HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

MULBERRY HOUSE HOLDINGS LIMITED

COMPANY INFORMATION

For the financial year ended 30 November 2023
MULBERRY HOUSE HOLDINGS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 November 2023
DIRECTOR J M Gibbs
REGISTERED OFFICE Mulberry House
Tedburn St Mary
Exeter
EX6 6AY
United Kingdom
COMPANY NUMBER 10503018 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
MULBERRY HOUSE HOLDINGS LIMITED

BALANCE SHEET

As at 30 November 2023
MULBERRY HOUSE HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 30 November 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 850,000 450,000
Investments 4 5,585 55,585
855,585 505,585
Current assets
Debtors 5 1,765 350
Cash at bank and in hand 569,779 899,154
571,544 899,504
Creditors: amounts falling due within one year 6 ( 12,647) ( 12,587)
Net current assets 558,897 886,917
Total assets less current liabilities 1,414,482 1,392,502
Provision for liabilities 7 ( 21,166) ( 14,639)
Net assets 1,393,316 1,377,863
Capital and reserves
Called-up share capital 8 200 200
Profit and loss account 1,393,116 1,377,663
Total shareholder's funds 1,393,316 1,377,863

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Mulberry House Holdings Limited (registered number: 10503018) were approved and authorised for issue by the Director on 01 August 2024. They were signed on its behalf by:

J M Gibbs
Director
MULBERRY HOUSE HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
MULBERRY HOUSE HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mulberry House Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Mulberry House, Tedburn St Mary, Exeter, EX6 6AY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover comprises rent receivable on the company's investment properties and is recognised in accordance with the terms of the underlying leases. Income for management services provided is recognised in accordance with the underlying agreed service arrangements.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at the director's estimate of fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and 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, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Investment property

Investment property
£
Valuation
As at 01 December 2022 450,000
Additions 395,958
Fair value movement 4,042
As at 30 November 2023 850,000

Investment property is included at director's estimate of fair value. There has been no valuation of investment property by an independent valuer.

4. Fixed asset investments

2023 2022
£ £
Participating interests 5,585 5,585
Other investments and loans 0 50,000
5,585 55,585

Investments in associates Other investments Total
£ £ £
Cost or valuation before impairment
At 01 December 2022 5,585 50,000 55,585
Disposals 0 ( 50,000) ( 50,000)
At 30 November 2023 5,585 0 5,585
Carrying value at 30 November 2023 5,585 0 5,585
Carrying value at 30 November 2022 5,585 50,000 55,585

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
30.11.2023
Ownership
30.11.2022
JSS Exeter (Development Land & New Homes) Limited 10 Southernhay West, Exeter, Devon EX1 1JG Provision of consultancy and estate agency services to landowners and developers Ordinary "B" shares 50.00% 50.00%

5. Debtors

2023 2022
£ £
Other debtors 1,765 350

6. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to associates 9,287 9,277
Other creditors 3,360 3,310
12,647 12,587

7. Provision for liabilities

2023 2022
£ £
Deferred tax 21,166 14,639

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
200 Ordinary shares of £ 1.00 each 200 200