IRIS Accounts Production v24.2.0.383 12026632 director 1.6.23 31.5.24 31.5.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh120266322023-05-31120266322024-05-31120266322023-06-012024-05-31120266322022-05-31120266322022-06-012023-05-31120266322023-05-3112026632ns15:EnglandWales2023-06-012024-05-3112026632ns14:PoundSterling2023-06-012024-05-3112026632ns10:Director12023-06-012024-05-3112026632ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3112026632ns10:SmallEntities2023-06-012024-05-3112026632ns10:AuditExemptWithAccountantsReport2023-06-012024-05-3112026632ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3112026632ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3112026632ns10:FullAccounts2023-06-012024-05-3112026632ns10:RegisteredOffice2023-06-012024-05-3112026632ns5:CurrentFinancialInstruments2024-05-3112026632ns5:CurrentFinancialInstruments2023-05-3112026632ns5:Non-currentFinancialInstruments2024-05-3112026632ns5:Non-currentFinancialInstruments2023-05-3112026632ns5:ShareCapital2024-05-3112026632ns5:ShareCapital2023-05-3112026632ns5:FurtherSpecificReserve3ComponentTotalEquity2024-05-3112026632ns5:FurtherSpecificReserve3ComponentTotalEquity2023-05-3112026632ns5:RetainedEarningsAccumulatedLosses2024-05-3112026632ns5:RetainedEarningsAccumulatedLosses2023-05-3112026632ns5:FurnitureFittings2023-06-012024-05-3112026632ns5:FurnitureFittings2023-05-3112026632ns5:FurnitureFittings2024-05-3112026632ns5:FurnitureFittings2023-05-3112026632ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3112026632ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3112026632ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-05-3112026632ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-05-3112026632ns5:DeferredTaxation2023-05-3112026632ns5:DeferredTaxation2023-06-012024-05-3112026632ns5:DeferredTaxation2024-05-3112026632ns5:FurtherSpecificReserve3ComponentTotalEquity2023-05-31120266321ns10:Director12023-05-31120266321ns10:Director12022-05-31120266321ns10:Director12023-06-012024-05-31120266321ns10:Director12022-06-012023-05-31120266321ns10:Director12024-05-31120266321ns10:Director12023-05-31
REGISTERED NUMBER: 12026632 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Medburn Property Holdings Ltd

Medburn Property Holdings Ltd (Registered number: 12026632)






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 8

Medburn Property Holdings Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: A Brown





REGISTERED OFFICE: Manor House
Medburn
Newcastle upon Tyne
NE20 0JB





REGISTERED NUMBER: 12026632 (England and Wales)





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

Medburn Property Holdings Ltd (Registered number: 12026632)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 31,219 39,551
Investment property 5 4,031,498 4,516,498
4,062,717 4,556,049

CURRENT ASSETS
Debtors 6 483,457 55,118
Cash at bank and in hand 5,211 2,306
488,668 57,424
CREDITORS
Amounts falling due within one year 7 713,768 1,698,654
NET CURRENT LIABILITIES (225,100 ) (1,641,230 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,837,617

2,914,819

CREDITORS
Amounts falling due after more than one
year

8

(2,536,677

)

(1,331,293

)

PROVISIONS FOR LIABILITIES 9 (361,866 ) (288,457 )
NET ASSETS 939,074 1,295,069

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 1,085,599 1,229,740
Retained earnings (146,625 ) 65,229
SHAREHOLDERS' FUNDS 939,074 1,295,069

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 Holdings Ltd (Registered number: 12026632)

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 1 October 2024 and were signed by:





A Brown - Director


Medburn Property Holdings Ltd (Registered number: 12026632)

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

1. STATUTORY INFORMATION

Medburn Property Holdings 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Medburn Property Holdings Ltd (Registered number: 12026632)

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

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1 June 2023 47,130
Disposals (3,320 )
At 31 May 2024 43,810
DEPRECIATION
At 1 June 2023 7,579
Charge for year 5,510
Charge written back (498 )
At 31 May 2024 12,591
NET BOOK VALUE
At 31 May 2024 31,219
At 31 May 2023 39,551

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 June 2023 4,516,498
Disposals (485,000 )
At 31 May 2024 4,031,498
NET BOOK VALUE
At 31 May 2024 4,031,498
At 31 May 2023 4,516,498

Medburn Property Holdings Ltd (Registered number: 12026632)

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

5. INVESTMENT PROPERTY - continued

Fair value at 31 May 2024 is represented by:
£
Valuation in 2020 164,454
Valuation in 2021 112,759
Valuation in 2022 381,372
Valuation in 2023 859,613
Valuation in 2024 (70,733 )
Cost 2,584,033
4,031,498

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£ £
Intercompany loans 455,414 -
Directors' loan accounts 14,430 38,773
Tax 5,140 5,140
Prepayments and accrued income 8,473 11,205
483,457 55,118

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£ £
Bank loans and overdrafts 20,257 24,828
Other loans 569,205 1,482,505
Trade creditors - 33,614
Tax 168 12,067
Social security and other taxes 5,427 9,185
VAT - 7,083
Intercompany loans 115,196 123,222
Accrued expenses 3,515 6,150
713,768 1,698,654

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£ £
Bank loans - 2-5 years 2,536,677 1,331,293

Medburn Property Holdings Ltd (Registered number: 12026632)

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

9. PROVISIONS FOR LIABILITIES
31.5.24 31.5.23
£ £
Deferred tax
Revaluation in P&L 236,735 163,326
Deferred tax 125,131 125,131
361,866 288,457

Deferred tax
£
Balance at 1 June 2023 288,457
Provided during year 73,409
Balance at 31 May 2024 361,866

10. RESERVES
Fair value
reserve
£
At 1 June 2023 1,229,740
Reserve transfer (144,141 )

At 31 May 2024 1,085,599

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
£ £
A Brown
Balance outstanding at start of year 38,773 15,230
Amounts advanced 68,857 47,035
Amounts repaid (93,200 ) (23,492 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,430 38,773

Medburn Property Holdings Ltd

Report of the Accountants to the Director of
Medburn Property Holdings 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 seven 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


1 October 2024