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REGISTERED NUMBER: 03156929 (England and Wales)









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

MAIDSTILL LIMITED

MAIDSTILL LIMITED (REGISTERED NUMBER: 03156929)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MAIDSTILL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: S London
J London





SECRETARY: E Zecler





REGISTERED OFFICE: 12 Berkeley Place
Wimbledon
London
SW19 4NN





REGISTERED NUMBER: 03156929 (England and Wales)





ACCOUNTANTS: Hartley Fowler LLP
Chartered Accountants
4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU

MAIDSTILL LIMITED (REGISTERED NUMBER: 03156929)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 5,871,051 5,337,319
5,871,051 5,337,319

CURRENT ASSETS
Debtors 6 387,061 322,897
Cash at bank 8,809,385 8,633,455
9,196,446 8,956,352
CREDITORS
Amounts falling due within one year 7 3,842,977 3,739,152
NET CURRENT ASSETS 5,353,469 5,217,200
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,224,520

10,554,519

PROVISIONS FOR LIABILITIES 8 254,122 220,973
NET ASSETS 10,970,398 10,333,546

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 469,535 7,651
Retained earnings 10,499,863 10,324,895
SHAREHOLDERS' FUNDS 10,970,398 10,333,546

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

MAIDSTILL LIMITED (REGISTERED NUMBER: 03156929)

BALANCE SHEET - continued
31 DECEMBER 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:





J London - Director


MAIDSTILL LIMITED (REGISTERED NUMBER: 03156929)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Maidstill 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.

Significant judgements and estimates
Accounting policies which have a significant bearing on the reported financial position and results of the company may require subjective or complex judgements.

The principal on-going area of judgement is the investment property valuation where the director's opinion of fair value based on experience of the trade and locality has been obtained at each reporting date.

Deferred tax is directly and indirectly impacted by the estimation uncertainty arising within the investment property valuation through the timing difference that exists between the valuation and the tax base cost of the properties and if relevant, the March 1982 property valuation is also utilised in arriving at the tax base cost for certain of the investment properties.

Turnover
Turnover represents amounts receivable for rent on investment properties, net of VAT due in the period.

Revenue is recognised with reference to time as the period of rental progresses so that the amount of revenue reflects the actual right to consideration by reference to the period of rental covered. Rent not billed is included in debtors and payments on account, rent received in excess of the relevant amount of revenue is deferred to future periods to which it relates and included in deferred income within creditors.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost

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.


MAIDSTILL LIMITED (REGISTERED NUMBER: 03156929)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

Basic financial instruments
Cash at bank is measured at transaction price.

Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Dividends
Dividends are recognised in the company's financial statements in the year in which they are approved in general meetings by the company's shareholders. Interim dividends are recognised when they are paid.

Share capital
Ordinary shares are classified as equity.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date.If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 1,106
DEPRECIATION
At 1 January 2023
and 31 December 2023 1,106
NET BOOK VALUE
At 31 December 2023 -

MAIDSTILL LIMITED (REGISTERED NUMBER: 03156929)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 5,337,319
Revaluations 533,732
At 31 December 2023 5,871,051
NET BOOK VALUE
At 31 December 2023 5,871,051
At 31 December 2022 5,337,319

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2016 7,651
Valuation in 2023 533,732
Cost 5,329,668
5,871,051

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

2023 2022
£    £   
Cost 5,329,668 5,329,668

Investment properties are included in the financial statements at the director's best estimate of fair value as at the balance sheet date, based on experience of the trade and locality.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 37,460 -
Other debtors 349,601 322,897
387,061 322,897

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 29,095 2,589
Other creditors 3,813,882 3,736,563
3,842,977 3,739,152

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 182,274 220,973
Other timing differences 71,848 -
254,122 220,973

MAIDSTILL LIMITED (REGISTERED NUMBER: 03156929)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 220,973
Provided during year 33,149
Balance at 31 December 2023 254,122

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at the balance sheet date, S London owed the company £15,695 (2022: £14,558), J London was owed by company £300 (2022: £300).There are no fixed repayment terms, interest charges or security attached to this loan.

During the year S London, a director charged the company £50,000 (2022: £20,000) for consultancy services, there was no outstanding balance at the year end.

10. RELATED PARTY DISCLOSURES

At the year end Maidstill Limited owed Readyclass Limited, a company in which both J London and S London are directors and in which J London has a controlling interest, £3,716,720 (2022: £3,716,720). There are no fixed repayment terms, interest charges or security attached to the loan.

At the year end Discretionary Trust owed Maidstill Limited £170,056 (2022: £170,056).