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REGISTERED NUMBER: 09611387 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Medburn Property Ltd

Medburn Property Ltd (Registered number: 09611387)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

Medburn Property Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Mr A Brown





SECRETARY: Mrs A Brown





REGISTERED OFFICE: Manor House
Medburn
Newcastle Upon Tyne
United Kingdom
NE20 0JB





REGISTERED NUMBER: 09611387 (England and Wales)





ACCOUNTANTS: AWS Accountancy Limited
3 Berrymoor Court
Northumberland Business Park
Cramlington
Northumberland
NE23 7RZ

Medburn Property Ltd (Registered number: 09611387)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £ £ £ £
FIXED ASSETS
Investment property 4 810,000 810,000

CURRENT ASSETS
Debtors 5 29,923 32,003
Cash at bank 1,646 3,043
31,569 35,046
CREDITORS
Amounts falling due within one year 6 37,571 43,112
NET CURRENT LIABILITIES (6,002 ) (8,066 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

803,998

801,934

CREDITORS
Amounts falling due after more than one
year

7

(454,520

)

(466,167

)

PROVISIONS FOR LIABILITIES 8 (39,069 ) (39,069 )
NET ASSETS 310,409 296,698

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 166,559 166,559
Retained earnings 143,750 130,039
SHAREHOLDERS' FUNDS 310,409 296,698

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Medburn Property Ltd (Registered number: 09611387)

Balance Sheet - continued
31 May 2024


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 director and authorised for issue on 22 August 2024 and were signed by:





Mr A Brown - Director


Medburn Property Ltd (Registered number: 09611387)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Medburn Property Ltd 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.

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Medburn Property Ltd (Registered number: 09611387)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 June 2023
and 31 May 2024 810,000
NET BOOK VALUE
At 31 May 2024 810,000
At 31 May 2023 810,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£ £
Amounts owed by associates 29,923 32,003

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£ £
Bank loans and overdrafts 12,416 20,264
Amounts owed to associates 7,230 8,400
Tax 16,825 12,988
Accrued expenses 1,100 1,460
37,571 43,112

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£ £
Bank loans 412,617 417,185
Directors' loan accounts 41,903 48,982
454,520 466,167

8. PROVISIONS FOR LIABILITIES
31.5.24 31.5.23
£ £
Deferred tax
Revaluation in P&L 791 791
Deferred tax 38,278 38,278
39,069 39,069

Medburn Property Ltd (Registered number: 09611387)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred tax
£
Balance at 1 June 2023 39,069
Balance at 31 May 2024 39,069

9. RESERVES
Fair value
reserve
£
At 1 June 2023
and 31 May 2024 166,559

Medburn Property Ltd

Report of the Accountants to the Director of
Medburn Property Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 May 2024 set out on pages one to six and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






AWS Accountancy Limited
3 Berrymoor Court
Northumberland Business Park
Cramlington
Northumberland
NE23 7RZ


22 August 2024