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REGISTERED NUMBER: 05198595 (England and Wales)















Financial Statements

for the Year Ended 31 March 2024

for

MUNDUS PROPERTIES LIMITED

MUNDUS PROPERTIES LIMITED (REGISTERED NUMBER: 05198595)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MUNDUS PROPERTIES LIMITED

Company Information
for the year ended 31 March 2024







Director: Mr D Poulton





Registered office: 3rd Floor
Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ





Registered number: 05198595 (England and Wales)





Accountants: Duncan & Toplis Limited
3rd Floor
Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ

MUNDUS PROPERTIES LIMITED (REGISTERED NUMBER: 05198595)

Balance Sheet
31 March 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 1,613,087 1,614,356

Current assets
Debtors 5 8,945 11,512
Cash at bank 5,682 9,407
14,627 20,919
Creditors
Amounts falling due within one year 6 27,677 31,365
Net current liabilities (13,050 ) (10,446 )
Total assets less current liabilities 1,600,037 1,603,910

Creditors
Amounts falling due after more than one year 7 (378,038 ) (392,456 )

Provisions for liabilities (142,039 ) (142,356 )
Net assets 1,079,960 1,069,098

Capital and reserves
Called up share capital 9 100 100
Fair value reserve 796,923 796,923
Retained earnings 282,937 272,075
Shareholders' funds 1,079,960 1,069,098

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

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

MUNDUS PROPERTIES LIMITED (REGISTERED NUMBER: 05198595)

Balance Sheet - continued
31 March 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 September 2024 and were signed by:





Mr D Poulton - Director


MUNDUS PROPERTIES LIMITED (REGISTERED NUMBER: 05198595)

Notes to the Financial Statements
for the year ended 31 March 2024


1. Statutory information

Mundus 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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed off.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover is measured at the fair value of rental income 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 the cost less estimated residual value of each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

MUNDUS PROPERTIES LIMITED (REGISTERED NUMBER: 05198595)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 1 (2023 - 1 ) .

MUNDUS PROPERTIES LIMITED (REGISTERED NUMBER: 05198595)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


4. Tangible fixed assets
Freehold Improvements Computer
property to property equipment Totals
£ £ £ £
Cost or valuation
At 1 April 2023 931,397 674,203 17,495 1,623,095
Additions - - 1,227 1,227
At 31 March 2024 931,397 674,203 18,722 1,624,322
Depreciation
At 1 April 2023 - - 8,739 8,739
Charge for year - - 2,496 2,496
At 31 March 2024 - - 11,235 11,235
Net book value
At 31 March 2024 931,397 674,203 7,487 1,613,087
At 31 March 2023 931,397 674,203 8,756 1,614,356

Cost or valuation at 31 March 2024 is represented by:

Freehold Improvements Computer
property to property equipment Totals
£ £ £ £
Valuation in 2018 786,814 - - 786,814
Cost 144,583 674,203 18,722 837,508
931,397 674,203 18,722 1,624,322

Freehold property was valued on an open market basis on 31 March 2024 by the director.

5. Debtors: amounts falling due within one year
2024 2023
£ £
Other debtors 8,945 11,512

6. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 15,767 15,767
Taxation and social security 3,156 4,852
Other creditors 8,754 10,746
27,677 31,365

MUNDUS PROPERTIES LIMITED (REGISTERED NUMBER: 05198595)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans 378,038 392,456

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 311,229 325,647

8. Secured debts

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans 393,805 408,223

The bank loan is secured on the property 1-4 and 6-12 Edith House, The Barge Yard, Highbridge Street, Waltham Abbey, Essex, EN9 1BS. This creditor also includes a debenture deed which has a fixed and a floating charge over the undertaking and all property and assets present and future including goodwill, stock, goods, moveable plant and machinery, implements, utensils, furniture, fixtures, equipment, book debts, uncalled capital, buildings and intellectual property.

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100