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REGISTERED NUMBER: 00301310 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

Metropolitan & Country Land & Estate
Company,Limited

Metropolitan & Country Land & Estate
Company,Limited (Registered number: 00301310)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Metropolitan & Country Land & Estate
Company,Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: PPW Smith
Mrs KLJ Blythe
Mrs A D Patterson
B M G Patterson





REGISTERED OFFICE: 67 Westow Street
London
SE19 3RW





REGISTERED NUMBER: 00301310 (England and Wales)





AUDITORS: Thornton Springer LLP
Chartered Accountants and
Statutory Auditor
67 Westow Street
London
SE19 3RW

Metropolitan & Country Land & Estate
Company,Limited (Registered number: 00301310)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Investment property 5 21,755,000 21,310,000

CURRENT ASSETS
Debtors 6 194,358 166,415
Cash at bank 241,547 777,964
435,905 944,379
CREDITORS
Amounts falling due within one year 7 (249,456 ) (422,540 )
NET CURRENT ASSETS 186,449 521,839
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,941,449

21,831,839

PROVISIONS FOR LIABILITIES (4,099,293 ) (3,980,489 )
NET ASSETS 17,842,156 17,851,350

CAPITAL AND RESERVES
Called up share capital 8 24,000 24,000
Fair value reserves 9 15,549,770 15,214,944
Retained earnings 9 2,268,386 2,612,406
SHAREHOLDERS' FUNDS 17,842,156 17,851,350

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 Board of Directors and authorised for issue on 16 November 2024 and were signed on its behalf by:




Mrs A D Patterson - Director



B M G Patterson - Director


Metropolitan & Country Land & Estate
Company,Limited (Registered number: 00301310)

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

1. STATUTORY INFORMATION

Metropolitan & Country Land & Estate Company,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.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is in Pound Sterling (£). Monetary amounts are rounded to the nearest £.

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

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.

Repairs & renewals
These costs are charged to revenue as they are incurred. The cost element of improvements is capitalised.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

Metropolitan & Country Land & Estate
Company,Limited (Registered number: 00301310)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 21,310,000
Disposals (485,000 )
Revaluations 930,000
At 31 March 2024 21,755,000
NET BOOK VALUE
At 31 March 2024 21,755,000
At 31 March 2023 21,310,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 19,649,064
Cost 2,105,936
21,755,000

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

31.3.24 31.3.23
£    £   
Cost 2,105,936 2,114,567

Investment properties were valued on a fair value basis on 31 March 2024 by Benjamin Patterson, the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 183,373 156,769
Other debtors 10,985 9,646
194,358 166,415

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 44,487 51,239
Taxation and social security 145,673 269,764
Other creditors 59,296 101,537
249,456 422,540

Metropolitan & Country Land & Estate
Company,Limited (Registered number: 00301310)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
24,000 Ordinary £1 24,000 24,000

9. RESERVES
Fair
Retained value
earnings reserves Totals
£    £    £   

At 1 April 2023 2,612,406 15,214,944 17,827,350
Profit for the year 830,806 830,806
Dividends (840,000 ) (840,000 )
Revaluation (930,000 ) 930,000 -
Realisation of revaluation gains and
losses of previous years

476,370

(476,370

)

-

Deferred tax provision 118,804 (118,804 ) -
At 31 March 2024 2,268,386 15,549,770 17,818,156

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Zahid Saleem FCCA, ACA (Senior Statutory Auditor)
for and on behalf of Thornton Springer LLP

11. ULTIMATE CONTROLLING PARTY

The directors are considered to be the ultimate controlling parties by virtue of their ability to act in concert in respect of the financial and operating policies of the company.