Registered number
02139859
Edward Mellor Limited
Filleted Accounts
30 June 2024
Edward Mellor Limited
Registered number: 02139859
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 145,085 255,635
Investments 4 225,158 225,158
370,243 480,793
Current assets
Debtors 5 4,037,911 4,574,946
Creditors: amounts falling due within one year 6 (2,491,482) (3,228,490)
Net current assets 1,546,429 1,346,456
Total assets less current liabilities 1,916,672 1,827,249
Creditors: amounts falling due after more than one year 7 (222,645) (468,225)
Net assets 1,694,027 1,359,024
Capital and reserves
Called up share capital 3 3
Profit and loss account 1,694,024 1,359,021
Shareholders' funds 1,694,027 1,359,024
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Colin E Mellor
Director
Approved by the board on 26 September 2024
Edward Mellor Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is predominantly comprised of revenue earned from the rendering of estate agency services and is recognised once the business has fulfilled its obligations to the customer and therefore its right to consideration is unconditional. Turnover includes estate agency completion fees, auction fees, survey income, property management and lettings income and financial services income.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Tenants refurbishments over 8 years
Motor vehicles over 4 years
Computer equipment & software over 4 years
Fixtures & fittings over 4 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 133 152
3 Tangible fixed assets
Tenants refurbishm'ts Fixtures fittings & computers Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 48,149 579,024 358,570 985,743
Additions - 1,550 19,800 21,350
Assets scrapped at nil valve - (247,113) - (247,113)
Disposals - (3,548) (53,093) (56,641)
At 30 June 2024 48,149 329,913 325,277 703,339
Depreciation
At 1 July 2023 30,095 520,558 179,455 730,108
Charge for the year 6,019 34,191 75,044 115,254
Assets scrapped at nil valve - (247,113) - (247,113)
On disposals - (2,280) (37,715) (39,995)
At 30 June 2024 36,114 305,356 216,784 558,254
Net book value
At 30 June 2024 12,035 24,557 108,493 145,085
At 30 June 2023 18,054 58,466 179,115 255,635
During the year the fixed asset register was reviewed in detail and an amount of £247,113 of assets, which had been fully written down and previously scrapped or obsolete, were removed from the register.
4 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 July 2023 203,083 22,075 225,158
At 30 June 2024 203,083 22,075 225,158
Historical cost
At 1 July 2023 1,314,787 22,460
At 30 June 2024 1,314,787 22,460
The company owns 100% of the share capital of several entities, as follows: Meller Braggins Limited, Beech Property Lettings Limited, Lettings 4 Apartments Limited and Space 4 Living Estate Agents Limited. During the year ended 30 June 2023 the investment in the following entities were fully impaired: Lettings 4 Apartments Limited, Beech Property Lettings Limited and Space 4 Living Estate Agents Limited.
5 Debtors 2024 2023
£ £
Trade debtors 127,041 147,480
Amounts owed by group undertakings and undertakings in which the company has a participating interest 3,581,314 3,892,492
Other debtors 329,556 534,974
4,037,911 4,574,946
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 352,147 697,751
Obligations under finance lease and hire purchase contracts 119,404 124,988
Trade creditors 597,752 552,942
Amounts owed to group undertakings and undertakings in which the company has a participating interest 167,178 210,993
Taxation and social security costs 955,037 1,441,072
Other creditors 299,964 200,744
2,491,482 3,228,490
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 155,435 325,000
Obligations under finance lease and hire purchase contracts 67,210 143,225
222,645 468,225
8 Controlling party
During the year the company was controlled in equal shares by Mr & Mrs E Mellor and Mr C Mellor. On 1 July 2024 Mr & Mrs E Mellor transferred their shareholdings to Mr C Mellor.
9 Other information
Edward Mellor Limited is a private company limited by shares and incorporated in England. Its registered office is:
Mellor House
65-81 St Petersgate
Stockport SK1 1DS
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