Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30falsefalse332023-05-01truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 6941101 2023-05-01 2024-04-30 6941101 2022-05-01 2023-04-30 6941101 2024-04-30 6941101 2023-04-30 6941101 2022-05-01 6941101 1 2023-05-01 2024-04-30 6941101 1 2022-05-01 2023-04-30 6941101 2 2023-05-01 2024-04-30 6941101 2 2022-05-01 2023-04-30 6941101 3 2023-05-01 2024-04-30 6941101 3 2022-05-01 2023-04-30 6941101 4 2023-05-01 2024-04-30 6941101 4 2022-05-01 2023-04-30 6941101 d:Exceptional 1 2023-05-01 2024-04-30 6941101 d:Exceptional 1 2022-05-01 2023-04-30 6941101 d:Exceptional 2 2023-05-01 2024-04-30 6941101 d:Exceptional 2 2022-05-01 2023-04-30 6941101 e:CompanySecretary1 2023-05-01 2024-04-30 6941101 e:Director1 2023-05-01 2024-04-30 6941101 e:Director2 2023-05-01 2024-04-30 6941101 e:Director3 2023-05-01 2024-04-30 6941101 e:Director4 2023-05-01 2024-04-30 6941101 e:RegisteredOffice 2023-05-01 2024-04-30 6941101 d:FreeholdInvestmentProperty 2023-05-01 2024-04-30 6941101 d:FreeholdInvestmentProperty 2024-04-30 6941101 d:FreeholdInvestmentProperty 2023-04-30 6941101 d:FreeholdInvestmentProperty 2 2023-05-01 2024-04-30 6941101 d:CurrentFinancialInstruments 2024-04-30 6941101 d:CurrentFinancialInstruments 2023-04-30 6941101 d:Non-currentFinancialInstruments 2024-04-30 6941101 d:Non-currentFinancialInstruments 2023-04-30 6941101 d:Non-currentFinancialInstruments 2 2024-04-30 6941101 d:Non-currentFinancialInstruments 2 2023-04-30 6941101 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 6941101 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 6941101 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 6941101 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 6941101 d:UKTax 2023-05-01 2024-04-30 6941101 d:UKTax 2022-05-01 2023-04-30 6941101 d:ShareCapital 2023-05-01 2024-04-30 6941101 d:ShareCapital 2024-04-30 6941101 d:ShareCapital 2022-05-01 2023-04-30 6941101 d:ShareCapital 2023-04-30 6941101 d:ShareCapital 2022-05-01 6941101 d:InvestmentPropertiesRevaluationReserve 2023-05-01 2024-04-30 6941101 d:InvestmentPropertiesRevaluationReserve 2024-04-30 6941101 d:InvestmentPropertiesRevaluationReserve 1 2023-05-01 2024-04-30 6941101 d:InvestmentPropertiesRevaluationReserve 2 2023-05-01 2024-04-30 6941101 d:InvestmentPropertiesRevaluationReserve 3 2023-05-01 2024-04-30 6941101 d:InvestmentPropertiesRevaluationReserve 2022-05-01 2023-04-30 6941101 d:InvestmentPropertiesRevaluationReserve 2023-04-30 6941101 d:InvestmentPropertiesRevaluationReserve 2022-05-01 6941101 d:InvestmentPropertiesRevaluationReserve 1 2022-05-01 2023-04-30 6941101 d:InvestmentPropertiesRevaluationReserve 2 2022-05-01 2023-04-30 6941101 d:InvestmentPropertiesRevaluationReserve 3 2022-05-01 2023-04-30 6941101 d:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 6941101 d:RetainedEarningsAccumulatedLosses 2024-04-30 6941101 d:RetainedEarningsAccumulatedLosses 1 2023-05-01 2024-04-30 6941101 d:RetainedEarningsAccumulatedLosses 2 2023-05-01 2024-04-30 6941101 d:RetainedEarningsAccumulatedLosses 3 2023-05-01 2024-04-30 6941101 d:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 6941101 d:RetainedEarningsAccumulatedLosses 2023-04-30 6941101 d:RetainedEarningsAccumulatedLosses 2022-05-01 6941101 d:RetainedEarningsAccumulatedLosses 1 2022-05-01 2023-04-30 6941101 d:RetainedEarningsAccumulatedLosses 2 2022-05-01 2023-04-30 6941101 d:RetainedEarningsAccumulatedLosses 3 2022-05-01 2023-04-30 6941101 e:FRS102 2023-05-01 2024-04-30 6941101 e:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 6941101 e:FullAccounts 2023-05-01 2024-04-30 6941101 e:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 6941101 2 2023-05-01 2024-04-30 6941101 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 6941101 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 6941101 f:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 6941101










MTD COLN INDUSTRIAL LIMITED








UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
MTD COLN INDUSTRIAL LIMITED
 

COMPANY INFORMATION


DIRECTORS
Mark Pears 
Sir Trevor Pears CMG 
David Pears 
WPG Registrars Limited 




COMPANY SECRETARY
William Bennett



REGISTERED NUMBER
6941101



REGISTERED OFFICE
12th Floor
Aldgate Tower

2 Leman Street

London

E1W 9US





 
MTD COLN INDUSTRIAL LIMITED
 

CONTENTS



Page
Directors' Report
1
Statement of Comprehensive Income
2
Statement of Financial Position
3 - 4
Statement of Changes in Equity
5
Notes to the Financial Statements
6 - 14


 
MTD COLN INDUSTRIAL LIMITED
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2024

The directors present their report and the financial statements for the year ended 30 April 2024.

PRINCIPAL ACTIVITY

The principal activity of the company is property investment.        

DIRECTORS

The directors who served during the year were:

Mark Pears 
Sir Trevor Pears CMG 
David Pears 
WPG Registrars Limited 

SMALL COMPANIES NOTE

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 4 November 2024 and signed on its behalf.
 





William Bennett
Secretary

Page 1

 
MTD COLN INDUSTRIAL LIMITED
 

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2024

2024
2023
Note
£
£

  

Turnover
  
6,918,896
7,087,661

Cost of sales
  
(1,850,803)
(1,789,383)

GROSS PROFIT
  
5,068,093
5,298,278

Administrative expenses
  
(1,767,065)
(2,485,421)

Profit on sale of investment properties
 3 
(251,705)
939,609

Fair value movements
  
(1,755,200)
(6,032,812)

OPERATING PROFIT/(LOSS)
  
1,294,123
(2,280,346)

Interest receivable and similar income
  
43,876
135

Interest payable and similar expenses
 5 
(5,857,425)
(4,632,482)

LOSS BEFORE TAX
  
(4,519,426)
(6,912,693)

Tax on loss
 6 
124,414
(136,998)

LOSS FOR THE FINANCIAL YEAR
  
(4,395,012)
(7,049,691)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR
  
(4,395,012)
(7,049,691)

The notes on pages 6 to 14 form part of these financial statements.

Page 2

 
MTD COLN INDUSTRIAL LIMITED
REGISTERED NUMBER: 6941101

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Investment property
 7 
94,807,123
100,091,531

  
94,807,123
100,091,531

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 8 
861,866
1,108,158

Bank & cash balances
  
959,793
919,031

  
1,821,659
2,027,189

Creditors: amounts falling due within one year
 9 
(18,499,918)
(78,851,857)

NET CURRENT LIABILITIES
  
 
 
(16,678,259)
 
 
(76,824,668)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
78,128,864
23,266,863

Creditors: amounts falling due after more than one year
 10 
(60,000,000)
-

PROVISIONS FOR LIABILITIES
  

Deferred taxation
 11 
(2,788,359)
(3,531,346)

  
 
 
(2,788,359)
 
 
(3,531,346)

NET ASSETS
  
15,340,505
19,735,517


CAPITAL AND RESERVES
  

Called up share capital 
  
999
999

Investment property revaluation reserve
 12 
6,143,230
8,372,194

Profit and loss account
 12 
9,196,276
11,362,324

TOTAL EQUITY
  
15,340,505
19,735,517


Page 3

 
MTD COLN INDUSTRIAL LIMITED
REGISTERED NUMBER: 6941101

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 November 2024.




David Pears
Director

The notes on pages 6 to 14 form part of these financial statements.

Page 4

 
MTD COLN INDUSTRIAL LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024


Share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 May 2023
999
8,372,194
11,362,324
19,735,517


COMPREHENSIVE INCOME FOR THE YEAR

Loss for the year

-
-
(4,395,012)
(4,395,012)

Transfer realised gains to retained earnings
-
(493,835)
493,835
-

Deferred tax movements
-
742,988
(742,988)
-

Transfer revaluation during the year
-
(2,478,117)
2,478,117
-


TOTAL COMPREHENSIVE INCOME FOR THE YEAR
-
(2,228,964)
2,228,964
-


TOTAL COMPREHENSIVE INCOME FOR THE YEAR
-
(2,228,964)
(2,166,048)
(4,395,012)


AT 30 APRIL 2024
999
6,143,230
9,196,276
15,340,505



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2023


Share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 May 2022
999
9,055,788
17,728,421
26,785,208


COMPREHENSIVE INCOME FOR THE YEAR

Loss for the year

-
-
(7,049,691)
(7,049,691)

Transfer realised gains to retained earnings
-
(540,371)
540,371
-

Deferred tax movements
-
227,865
(227,865)
-

Transfer revaluation during the year
-
(371,088)
371,088
-


TOTAL COMPREHENSIVE INCOME FOR THE YEAR
-
(683,594)
683,594
-


TOTAL COMPREHENSIVE INCOME FOR THE YEAR
-
(683,594)
(6,366,097)
(7,049,691)


AT 30 APRIL 2023
999
8,372,194
11,362,324
19,735,517


The notes on pages 6 to 14 form part of these financial statements.

Page 5

 
MTD COLN INDUSTRIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


GENERAL INFORMATION

MTD Coln Industrial Limited is a private company limited by shares and incorporated in England and Wales. The registered office is 12th Floor Aldgate Tower, 2 Leman Street, London E1W 9US. The principal place  of business is Haskell House, 152 West End Lane, London NW6 1SD.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 other than where additional disclosure is required to show a true and fair view.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The company's functional and presentational currency is GBP and rounded to the nearest £1.
The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.Thus the directors continue to adopt the going concern basis of accounting in preparing these financial statements. At the Statement of financial position date, the group had net current liabilities of £16,678,259 (2023 - £76,824,668). The validity of the going concern concept is dependent on the continued support of the creditors. 

  
2.3

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the  rents receivable. 

 
2.4

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by our directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

 
2.5

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Page 6

 
MTD COLN INDUSTRIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
 
Page 7

 
MTD COLN INDUSTRIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.7
FINANCIAL INSTRUMENTS (CONTINUED)


Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.



Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 8

 
MTD COLN INDUSTRIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (CONTINUED)

  
2.8

CREDITORS

Short term creditors are measured at the transaction price.

 
2.9

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.10

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.12

DIVIDENDS

Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Page 9

 
MTD COLN INDUSTRIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

3.


(LOSS)/PROFIT ON SALE OF INVESTMENT PROPERTIES

2024
2023
£
£

Sale of investment properties
3,416,545
12,417,932

Historic cost
(3,174,415)
(10,937,952)

242,130
1,479,980


Prior years fair value surplus realised
(493,835)
(540,371)

(251,705)
939,609




4.


EMPLOYEES

The average monthly number of employees, including the directors, during the year was as follows:      


2024
2023
No.
No.



Directors
3
3


5.


INTEREST PAYABLE AND SIMILAR CHARGES

2024
2023
£
£


Other interest payable
907,425
4,632,482

Share capital treated as debt
4,950,000
-

5,857,425
4,632,482

Page 10

 
MTD COLN INDUSTRIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


TAXATION


2024
2023
£
£

CORPORATION TAX


Current tax on profits for the year
618,574
364,863


618,574
364,863


TOTAL CURRENT TAX
618,574
364,863

DEFERRED TAX


Origination and reversal of timing differences
(742,988)
(227,865)

TOTAL DEFERRED TAX
(742,988)
(227,865)


TAXATION ON (LOSS)/PROFIT ON ORDINARY ACTIVITIES
(124,414)
136,998

FACTORS AFFECTING TAX CHARGE FOR THE YEAR

The tax assessed for the year is higher than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 -19.5%). The differences are explained below:

2024
2023
£
£


Loss on ordinary activities before tax
(4,519,426)
(6,912,693)


Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 -19.5%)
(1,129,857)
(1,347,975)

EFFECTS OF:


Expenses not deductible for tax purposes
1,187,650
513,308

Capital allowances for year in excess of depreciation
(1,478)
(1,407)

Timing difference leading to a decrease in taxation
(742,988)
(227,865)

Other timing differences leading to a decrease in taxation
-
(129)

Book loss/(profit) on chargeable assets
62,926
(183,223)

Capital gains
60,533
207,891

Valuation losses not taxable
438,800
1,176,398

TOTAL TAX CHARGE FOR THE YEAR
(124,414)
136,998


FACTORS THAT MAY AFFECT FUTURE TAX CHARGES

There were no factors that may affect future tax charges.

Page 11

 
MTD COLN INDUSTRIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


INVESTMENT PROPERTY


Freehold investment property

£



VALUATION


At 1 May 2023
100,091,531


Additions at cost
139,042


Disposals
(3,668,250)


Fair value movement
(1,755,200)



AT 30 APRIL 2024
94,807,123

The 2024 valuations were made by directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
85,875,534
88,187,991

85,875,534
88,187,991


8.


DEBTORS

2024
2023
£
£


Sundry loan
557,406
813,910

Other debtors
287,583
282,328

Prepayments and accrued income
16,877
11,920

861,866
1,108,158


Page 12

 
MTD COLN INDUSTRIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Sundry loan
9,203,293
74,140,855

Corporation tax
498,273
278,421

Other taxation and social security
125,114
197,486

Other creditors
1,733,313
1,517,360

Accruals and deferred income
6,939,925
2,717,735

18,499,918
78,851,857



10.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Share capital treated as debt
60,000,000
-

60,000,000
-



11.


DEFERRED TAXATION




2024
2023


£

£






At beginning of year
3,531,347
3,759,211


Released to income statement
(742,988)
(227,865)



AT END OF YEAR
2,788,359
3,531,346

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Tax on revaluation of investment properties
2,788,359
3,531,346

2,788,359
3,531,346

Page 13

 
MTD COLN INDUSTRIAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

12.


RESERVES

Investment property revaluation reserve

The investment property revaluation reserve includes all current and prior year movements.

Profit & loss account

The profit and loss account includes all current and prior year retained profits and losses.

13.


RELATED PARTY TRANSACTIONS

During the year there were the following transactions with companies and entities in which the directors, Mark Pears, Sir Trevor Pears CMG and David Pears have an interest.    


2024
2023
£
£

Management fees payable
662,202
925,572
Loan interest payable to WPG Finance Limited
892,078
4,605,608
Share capital interest treated as debt to WPG Treasury Limited
4,950,000
-

At the year end there were the following balances with companies and entities in which the directors Mark Pears, Sir Trevor Pears CMG and David Pears have an interest.





2024
2023
£
£



Loan due to WPG Finance Limited
9,203,292
74,140,853

Loan due from WPG Treasury Limited
557,406
813,910

Share capital treated as debt due to WPG Treasury Limited
60,000,000
-

The company received estate agents services from a partnership in which the directors have an interest, the cost of which amounted to £517,700 (2023 - £530,300).

Page 14