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REGISTERED NUMBER: 01024659 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH NOVEMBER 2023

FOR

MELTON BROOK PROPERTIES LIMITED

MELTON BROOK PROPERTIES LIMITED (REGISTERED NUMBER: 01024659)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MELTON BROOK PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH NOVEMBER 2023







DIRECTORS: A M R Sochovsky
R B L Sochovsky
Mrs J L Sochovsky
J G Sochovsky



SECRETARY: R B L Sochovsky



REGISTERED OFFICE: Percy Westhead & Company
Hanover House
30-32 Charlotte Street
Manchester
M1 4FD



REGISTERED NUMBER: 01024659 (England and Wales)



ACCOUNTANTS: Percy Westhead & Company
Hanover House
30-32 Charlotte Street
Manchester
M1 4FD



BANKERS: The Royal Bank of Scotland plc
Drummond House
1 Redheughs Avenue
Edinburgh
EH12 9JN

MELTON BROOK PROPERTIES LIMITED (REGISTERED NUMBER: 01024659)

BALANCE SHEET
30TH NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,551,638 10,301,928

CURRENT ASSETS
Debtors 5 188,367 165,004
Cash at bank 257,494 260,053
445,861 425,057
CREDITORS
Amounts falling due within one year 6 502,266 406,510
NET CURRENT (LIABILITIES)/ASSETS (56,405 ) 18,547
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,495,233

10,320,475

CREDITORS
Amounts falling due after more than one
year

7

(568,801

)

(603,942

)

PROVISIONS FOR LIABILITIES 9 (2,188,754 ) (1,615,884 )
NET ASSETS 7,737,678 8,100,649

CAPITAL AND RESERVES
Called up share capital 500 500
Fair value reserve 10 4,065,109 4,382,775
Retained earnings 3,672,069 3,717,374
SHAREHOLDERS' FUNDS 7,737,678 8,100,649

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 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.

MELTON BROOK PROPERTIES LIMITED (REGISTERED NUMBER: 01024659)

BALANCE SHEET - continued
30TH NOVEMBER 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 18th August 2024 and were signed on its behalf by:





R B L Sochovsky - Director


MELTON BROOK PROPERTIES LIMITED (REGISTERED NUMBER: 01024659)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023

1. STATUTORY INFORMATION

Melton Brook Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover comprises rents and service charges invoiced by the company, exclusive of Value Added Tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 15% on reducing balance
Fixtures and fittings - 25% on cost and 10% on cost

Tangible fixed assets, with the exception of investment properties, are stated at cost less depreciation.

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.

Investment properties
Investment properties are included in the accounts at their fair value. Changes in fair value are recognised in the profit and loss account. Fair value is estimated by using a valuation technique.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

MELTON BROOK PROPERTIES LIMITED (REGISTERED NUMBER: 01024659)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Investment and
properties Equipment fittings Totals
£    £    £    £   
COST OR VALUATION
At 1st December 2022 10,300,000 4,690 45,097 10,349,787
Revaluations 250,000 - - 250,000
At 30th November 2023 10,550,000 4,690 45,097 10,599,787
DEPRECIATION
At 1st December 2022 - 2,762 45,097 47,859
Charge for year - 290 - 290
At 30th November 2023 - 3,052 45,097 48,149
NET BOOK VALUE
At 30th November 2023 10,550,000 1,638 - 10,551,638
At 30th November 2022 10,300,000 1,928 - 10,301,928

Cost or valuation at 30th November 2023 is represented by:

Fixtures
Investment and
properties Equipment fittings Totals
£    £    £    £   
Valuation in 2023 10,550,000 - - 10,550,000
Cost - 4,690 45,097 49,787
10,550,000 4,690 45,097 10,599,787

If the investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 4,317,533 4,317,533

The company owns two investment properties, which were both revalued as follows:

The first investment property has been sold after the year end for £1,200,000 and the directors consider this to be the fair value of the property at 30th November 2023..

The second investment property was valued in November 2018 by Lambert Smith Hampton, Chartered Surveyors, and in their opinion the market value of the property for balance sheet purposes was £9,350,000.

In the opinion of the directors, £10,550,000 fairly represents the market value of the properties at 30th November 2023.

MELTON BROOK PROPERTIES LIMITED (REGISTERED NUMBER: 01024659)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 750 750
Other debtors 1,715 -
Directors' loan accounts - 362
Prepayments and accrued income 38,108 8,102
40,573 9,214

Amounts falling due after more than one year:
Prepayments and accrued income 147,794 155,790

Aggregate amounts 188,367 165,004

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 37,086 32,096
Trade creditors 26,658 -
Corporation tax 96,896 71,838
Other creditors 277,165 249,914
Directors' loan accounts 1,181 461
Accruals and deferred income 63,280 52,201
502,266 406,510

Other creditors and cash at bank include £252,383 held in accordance with a rent deposit deed.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 42,066 35,326
Bank loans - 2-5 years 526,735 568,616
568,801 603,942

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 605,887 636,038

Interest is charged on the bank loan at 3% above The Royal Bank of Scotland plc's base rate.

The bank loan is secured by a first legal charge over some of the investment properties and a debenture over the property and assets of the company dated 10th August 1998.

MELTON BROOK PROPERTIES LIMITED (REGISTERED NUMBER: 01024659)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Investment properties 2,167,457 1,599,706
Accelerated capital allowances 21,297 16,178
2,188,754 1,615,884

Deferred
tax
£   
Balance at 1st December 2022 1,615,884
Charge to Income Statement during year 5,204
Charge to fair value reserve
during the year 567,666
Balance at 30th November 2023 2,188,754

10. RESERVES
Fair
value
reserve
£   
At 1st December 2022 4,382,775
Surplus on revaluation of
freehold investment properties 250,000
Deferred tax movement on
revaluation of investment
properties (567,666 )

At 30th November 2023 4,065,109

The fair value reserve represents the investment properties revaluation reserve less the associated deferred tax provision relating to revalued investment properties.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30th November 2023 and 30th November 2022:

2023 2022
£    £   
R B L Sochovsky and Mrs J L Sochovsky
Balance outstanding at start of year 362 -
Amounts advanced - 362
Amounts repaid (362 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 362