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REGISTERED NUMBER: 07157095 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

MAHB CAPITAL LIMITED

MAHB CAPITAL LIMITED (REGISTERED NUMBER: 07157095)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


MAHB CAPITAL LIMITED (REGISTERED NUMBER: 07157095)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,337 30,034
Investment property 5 7,638,719 6,979,722
7,657,056 7,009,756

CURRENT ASSETS
Stocks 484,493 492,493
Debtors 6 2,656,916 2,575,465
Cash at bank and in hand 84,973 48,144
3,226,382 3,116,102
CREDITORS
Amounts falling due within one year 7 4,964,866 1,274,386
NET CURRENT (LIABILITIES)/ASSETS (1,738,484 ) 1,841,716
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,918,572

8,851,472

CREDITORS
Amounts falling due after more than one
year

8

(176,268

)

(3,865,397

)

PROVISIONS FOR LIABILITIES (1,341,802 ) (1,195,760 )
NET ASSETS 4,400,502 3,790,315

CAPITAL AND RESERVES
Called up share capital 10 3 3
Non-distributable reserve 4,266,076 3,834,976
Retained earnings 134,423 (44,664 )
SHAREHOLDERS' FUNDS 4,400,502 3,790,315

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

MAHB CAPITAL LIMITED (REGISTERED NUMBER: 07157095)

BALANCE SHEET - continued
29 FEBRUARY 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 20 November 2024 and were signed by:





M Bartram - Director


MAHB CAPITAL LIMITED (REGISTERED NUMBER: 07157095)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

MAHB Capital Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07157095

Registered office: Norfolk Tower Floor 10
48-52 Surrey Street
Norwich
Norfolk
NR1 3PA

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Going concern
As at 29 February 2024, the company had net current liabilities of £1,738,484. The director believes, after reviewing the business activities of the company, together with the factors likely to affect its future development, its financial position, its exposure to financial risk, and on the basis of funding available, that the company has sufficient resources to continue in operation for the foreseeable future. Therefore, the director believes it appropriate to adopt the going concern basis in preparing financial statements.

Revenue recognition
Revenue is the fair value of consideration received or receivable for goods and services provided in the normal course of business, net of value added tax. Property rental income is recognised on a straight-line basis over the term of the relevant lease unless the lease payments are structured to increase with general inflation in which case the income is recognised as revenue in accordance with the expected payments. Revenue from drink and food is recognised at the point at which the goods are provided. Revenue from the sale of developments is recognised when the significant risks and rewards of ownership has transferred to the buyer.

Tangible assets
Tangible assets are recorded at cost less accumulated depreciation. Depreciation is calculated, using the straight-line method, to allocate the depreciable amount to their residual values over their estimated useful lives, as follows:

Land and buildings: 50 years
Plant and machinery etc: 3 - 10 years

Investment property
Investment property is initially recorded at cost which includes purchase cost and any directly attributable expenditure.

Investment property whose fair value can be measured reliably are measured at fair value. The gain or loss on revaluation is recognised in the Statement of Comprehensive Income in the period in which it arises. Such gains or losses are transferred from retained earnings to a non-distributable reserve.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.


MAHB CAPITAL LIMITED (REGISTERED NUMBER: 07157095)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES

The average number of employees during the year was 3 (2023 - 4 ) .

4. TANGIBLE ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023
and 29 February 2024 551,565
DEPRECIATION
At 1 March 2023 521,531
Charge for year 11,697
At 29 February 2024 533,228
NET BOOK VALUE
At 29 February 2024 18,337
At 28 February 2023 30,034

MAHB CAPITAL LIMITED (REGISTERED NUMBER: 07157095)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 6,979,722
Additions 84,197
Revaluations 574,800
At 29 February 2024 7,638,719
NET BOOK VALUE
At 29 February 2024 7,638,719
At 28 February 2023 6,979,722

The director values the company's investment property portfolio annually at the balance sheet date. The director assesses the open market value of the company's investment property on the basis of local market conditions and their own knowledge and experience.

The historical cost of the company's investment property was £2,057,005 (2023 - £1,972,808).

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 86,981 25,550
Other debtors 1,143,570 1,125,590
1,230,551 1,151,140

Amounts falling due after more than one year:
Amounts owed by group undertakings 1,426,365 1,424,325

Aggregate amounts 2,656,916 2,575,465

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,689,130 161,964
Trade creditors 121,107 123,989
Taxation and social security 99,353 73,332
Other creditors 1,055,276 915,101
4,964,866 1,274,386

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 176,268 3,865,397

Bank loans outstanding at the year end include instalments due after more than five years of £Nil (2023 - £13,125).

MAHB CAPITAL LIMITED (REGISTERED NUMBER: 07157095)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans and overdrafts 3,865,398 4,040,761

Bank loans and overdrafts are secured by fixed and floating charges over the company's assets.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary A £1 1 1
1 Ordinary B £1 1 1
1 Ordinary C £1 1 1
3 3

11. OTHER FINANCIAL COMMITMENTS

At the balance sheet date, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £91,448 (2023 - £163,978) of which £45,030 (2023 - £72,530) is due within one year.

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following loans, included in other debtors, to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
M Bartram
Balance outstanding at start of year 563,919 552,156
Amounts advanced 34,053 106,568
Amounts repaid (15,000 ) (94,805 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 582,972 563,919

A D Hunt
Balance outstanding at start of year 218,339 219,829
Amounts advanced 59,035 84,010
Amounts repaid (49,000 ) (85,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 228,374 218,339

Interest of £Nil (2023 - £Nil) was charged at HM Revenue and Customs' official rate of interest on the loans by the company.

The above loans are unsecured and repayable on demand.

13. POST BALANCE SHEET EVENTS

On 11 July 2024, Norfolk Tower Limited acquired the entire share capital of the company's immediate parent undertaking, BHAM Capital Limited.

MAHB CAPITAL LIMITED (REGISTERED NUMBER: 07157095)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

14. PARENT UNDERTAKING

At the balance sheet date, the immediate and ultimate parent undertaking was BHAM Capital Limited, a
company registered in England and Wales.

Following the share acquisition as detailed in note 13, the ultimate parent undertaking is now Norfolk Tower Limited .

The company is not a member of a group for which consolidated financial statements are prepared.