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REGISTERED NUMBER: 08450001 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

MELVIN PROPERTIES LONDON LTD

MELVIN PROPERTIES LONDON LTD (REGISTERED NUMBER: 08450001)






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


MELVIN PROPERTIES LONDON LTD

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs J C Ellerman
A Ellerman





REGISTERED OFFICE: Drysgol House
Drysgol Road
Radyr
Cardiff
CF15 8BS





REGISTERED NUMBER: 08450001 (England and Wales)





ACCOUNTANTS: Hayvenhursts
Fairway House
Links Business Park
St Mellons
Cardiff
CF3 0LT

MELVIN PROPERTIES LONDON LTD (REGISTERED NUMBER: 08450001)

Balance Sheet
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 84,659 87,962
Investment property 5 3,251,892 3,811,892
3,336,551 3,899,854

CURRENT ASSETS
Debtors 6 27,308 36,620
Cash at bank and in hand 9,032 100
36,340 36,720
CREDITORS
Amounts falling due within one year 7 (941,884 ) (759,862 )
NET CURRENT LIABILITIES (905,544 ) (723,142 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,431,007

3,176,712

CREDITORS
Amounts falling due after more than
one year

8

(524,603

)

(1,091,083

)
NET ASSETS 1,906,404 2,085,629

MELVIN PROPERTIES LONDON LTD (REGISTERED NUMBER: 08450001)

Balance Sheet - continued
31 MARCH 2024

2024 2023
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 1,211,640 1,495,287
Retained earnings 10 694,664 590,242
1,906,404 2,085,629

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 directors acknowledge their 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.

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 18 November 2024 and were signed on its behalf by:





A Ellerman - Director


MELVIN PROPERTIES LONDON LTD (REGISTERED NUMBER: 08450001)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Melvin Properties London 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

MELVIN PROPERTIES LONDON LTD (REGISTERED NUMBER: 08450001)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2023 2,748 91,767 94,515
Additions 1,422 - 1,422
At 31 March 2024 4,170 91,767 95,937
DEPRECIATION
At 1 April 2023 1,512 5,041 6,553
Charge for year 487 4,238 4,725
At 31 March 2024 1,999 9,279 11,278
NET BOOK VALUE
At 31 March 2024 2,171 82,488 84,659
At 31 March 2023 1,236 86,726 87,962

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 3,811,892
Disposals (560,000 )
At 31 March 2024 3,251,892
NET BOOK VALUE
At 31 March 2024 3,251,892
At 31 March 2023 3,811,892

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2022 1,241,892
Cost 2,010,000
3,251,892

MELVIN PROPERTIES LONDON LTD (REGISTERED NUMBER: 08450001)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 17,863 10,495
Other debtors 9,445 26,125
27,308 36,620

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9)
4,000

65,698
Tax 31,474 12,135
Other creditors 904,310 676,814
Accrued expenses 2,100 5,215
941,884 759,862

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans (see note 9) 524,603 1,091,083

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 26,698
Bank loans 4,000 39,000
4,000 65,698

Amounts falling due between one and two years:
Bank loans - 1-2 years 524,603 1,091,083

MELVIN PROPERTIES LONDON LTD (REGISTERED NUMBER: 08450001)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2023 590,242 1,495,287 2,085,529
Profit for the year 109,822 109,822
Dividends (5,400 ) (5,400 )
Decrease due to disposal - (283,647 ) (283,647 )
At 31 March 2024 694,664 1,211,640 1,906,304

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other creditors is an amount owed to the directors. As at 31st March 2024 the amount owed was £891,180 (2023 - £662,504). This amount is interest free and repayable upon demand.

12. ULTIMATE CONTROLLING PARTY

The company is controlled by it's directors.