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REGISTERED NUMBER: 13151047 (England and Wales)







Unaudited Financial Statements for the Year Ended 30 June 2024

for

Myrtle Farm Residential Properties Ltd

Myrtle Farm Residential Properties Ltd (Registered number: 13151047)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Myrtle Farm Residential Properties Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mr M Williams
Mrs S Williams





REGISTERED OFFICE: Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY





REGISTERED NUMBER: 13151047 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY

Myrtle Farm Residential Properties Ltd (Registered number: 13151047)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 16,008 15,767
Investment property 5 4,083,750 4,338,750
4,099,758 4,354,517

CURRENT ASSETS
Debtors 6 19,332 199
Cash at bank 122,739 46,509
142,071 46,708
CREDITORS
Amounts falling due within one year 7 (2,675,466 ) (2,703,956 )
NET CURRENT LIABILITIES (2,533,395 ) (2,657,248 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,566,363 1,697,269

CREDITORS
Amounts falling due after more than one year 8 (321,794 ) (495,245 )

PROVISIONS FOR LIABILITIES (4,002 ) (3,822 )
NET ASSETS 1,240,567 1,198,202

CAPITAL AND RESERVES
Called up share capital 10 605,178 605,178
Share premium 11 605,078 605,078
Fair value reserve 11 (2,979 ) (62,979 )
Retained earnings 11 33,290 50,925
SHAREHOLDERS' FUNDS 1,240,567 1,198,202

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Myrtle Farm Residential Properties Ltd (Registered number: 13151047)

Balance Sheet - continued
30 June 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 Board of Directors and authorised for issue on 25 November 2024 and were signed on its behalf by:




Mr M Williams - Director



Mrs S Williams - Director


Myrtle Farm Residential Properties Ltd (Registered number: 13151047)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Myrtle Farm Residential Properties 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.
Fixtures and fittings - 15% on reducing balance

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 NIL (2023 - NIL).

Myrtle Farm Residential Properties Ltd (Registered number: 13151047)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 July 2023 20,133
Additions 2,970
At 30 June 2024 23,103
DEPRECIATION
At 1 July 2023 4,366
Charge for year 2,729
At 30 June 2024 7,095
NET BOOK VALUE
At 30 June 2024 16,008
At 30 June 2023 15,767

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 4,338,750
Disposals (315,000 )
Revaluations 60,000
At 30 June 2024 4,083,750
NET BOOK VALUE
At 30 June 2024 4,083,750
At 30 June 2023 4,338,750

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2023 (62,979 )
Valuation in 2024 60,000
Cost 4,086,729
4,083,750

If investment property had not been revalued it would have been included at the following historical cost:

30.6.24 30.6.23
£    £   
Cost 4,086,729 4,401,729

Investment Property was valued on an open market basis on 30 June 2024 by the directors .

Myrtle Farm Residential Properties Ltd (Registered number: 13151047)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 9,230 -
Tax 8,502 -
Prepayments and accrued income 1,600 199
19,332 199

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 5,156 4,899
Trade creditors 18,048 378
Tax - 8,410
Other creditors 16,871 69,637
Directors' current accounts 2,613,376 2,612,752
Deferred income 19,933 5,900
Accrued expenses 2,082 1,980
2,675,466 2,703,956

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans - 1-2 years 5,420 5,149
Bank loans - 2-5 years 1,641 7,197
Bank loans more 5 yr by instal 314,733 482,899
321,794 495,245

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 314,733 482,899

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 326,950 500,144

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
605,178 Ordinary £1 605,178 605,178

Myrtle Farm Residential Properties Ltd (Registered number: 13151047)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

11. RESERVES
Fair
Retained Share value
earnings premium reserve Totals
£    £    £    £   

At 1 July 2023 50,925 605,078 (62,979 ) 593,024
Profit for the year 42,365 42,365
Assets revalued in period (60,000 ) - 60,000 -
At 30 June 2024 33,290 605,078 (2,979 ) 635,389