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REGISTERED NUMBER: 09564978 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 April 2024

for

MARTIN LEWIS PROPERTIES LIMITED

MARTIN LEWIS PROPERTIES LIMITED (REGISTERED NUMBER: 09564978)






Contents of the Financial Statements
for the year ended 30 APRIL 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MARTIN LEWIS PROPERTIES LIMITED

Company Information
for the year ended 30 APRIL 2024







DIRECTORS: R B Hyde
D G Dwek





REGISTERED OFFICE: Global House
303 Ballards Lane
London
N12 8NP





REGISTERED NUMBER: 09564978 (England and Wales)






MARTIN LEWIS PROPERTIES LIMITED (REGISTERED NUMBER: 09564978)

Statement of Financial Position
30 APRIL 2024

30/4/24 30/4/23
Notes £    £   
FIXED ASSETS
Tangible assets 5 204 272
Investment property 6 720,000 574,000
720,204 574,272

CURRENT ASSETS
Debtors 7 179 226
Cash at bank 2,111 2,096
2,290 2,322
CREDITORS
Amounts falling due within one year 8 (263,222 ) (261,901 )
NET CURRENT LIABILITIES (260,932 ) (259,579 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

459,272

314,693

CREDITORS
Amounts falling due after more than one
year

9

(296,700

)

(296,700

)

PROVISIONS FOR LIABILITIES 11 (40,603 ) (3,141 )
NET ASSETS 121,969 14,852

CAPITAL AND RESERVES
Called up share capital 1 1
Other reserves 121,692 -
Retained earnings 276 14,851
SHAREHOLDERS' FUNDS 121,969 14,852

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

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

MARTIN LEWIS PROPERTIES LIMITED (REGISTERED NUMBER: 09564978)

Statement of Financial Position - continued
30 APRIL 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 26 November 2024 and were signed on its behalf by:





D G Dwek - Director


MARTIN LEWIS PROPERTIES LIMITED (REGISTERED NUMBER: 09564978)

Notes to the Financial Statements
for the year ended 30 APRIL 2024

1. STATUTORY INFORMATION

Martin Lewis Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for services provided in the normal course of business. Revenue is mainly generated from property rental and the provision of management services. The company recognises revenue based on short lease agreement with tenants.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

MARTIN LEWIS PROPERTIES LIMITED (REGISTERED NUMBER: 09564978)

Notes to the Financial Statements - continued
for the year ended 30 APRIL 2024

3. ACCOUNTING POLICIES - continued

Going concern
At the balance sheet date, the company's current liabilities exceeded its current assets. The company has received assurance from the directors that they will continue to give financial support to the company for twelve months from the date of signing these financial statements. On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to the their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 2,718
DEPRECIATION
At 1 May 2023 2,446
Charge for year 68
At 30 April 2024 2,514
NET BOOK VALUE
At 30 April 2024 204
At 30 April 2023 272

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 574,000
Revaluations 146,000
At 30 April 2024 720,000
NET BOOK VALUE
At 30 April 2024 720,000
At 30 April 2023 574,000

The company's investment property has been revalued during the year based on a valuation undertaken by the company's lenders, The Mortgage Works (UK) Plc, in July 2024. The directors consider this value to reflect the fair value of the investment property as at the Balance Sheet date.

MARTIN LEWIS PROPERTIES LIMITED (REGISTERED NUMBER: 09564978)

Notes to the Financial Statements - continued
for the year ended 30 APRIL 2024

6. INVESTMENT PROPERTY - continued

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2024 146,000
Valuation in 2017 16,256
Cost 557,744
720,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Other debtors 179 226

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Other creditors 263,222 261,901

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/4/24 30/4/23
£    £   
Bank loans 296,700 296,700

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 296,700 296,700

10. SECURED DEBTS

The long-term loans are secured by fixed charges over the assets of the company. The directors have given personal guarantees to the bankers limited to the value of the loan of £296,700. The loan is interest only with an applicable rate of interest of 5.59% fixed until 31 May 2029.

11. PROVISIONS FOR LIABILITIES
30/4/24 30/4/23
£    £   
Deferred tax
Accelerated capital allowances 39 52
Other timing differences - 3,089
Deferred tax 40,564 -
40,603 3,141

MARTIN LEWIS PROPERTIES LIMITED (REGISTERED NUMBER: 09564978)

Notes to the Financial Statements - continued
for the year ended 30 APRIL 2024

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 May 2023 3,141
Provided during year 37,475
Credit to Income Statement during year (13 )
Balance at 30 April 2024 40,603

The deferred tax provision as shown above relates to the potential future tax due should the investment property held by the company be sold. The provision has been calculated based on the difference between the historic cost of the properties and the market value of those properties as at the Balance Sheet date at the future applicable corporation tax rates of 25%, as required by FRS 102 S1A.