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REGISTERED NUMBER: 08608479 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

MLP PROPERTIES (UK) LIMITED

MLP PROPERTIES (UK) LIMITED (REGISTERED NUMBER: 08608479)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


MLP PROPERTIES (UK) LIMITED (REGISTERED NUMBER: 08608479)

BALANCE SHEET
31 MARCH 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 - -
Investment property 5 5,415,000 5,415,000
5,415,000 5,415,000

CURRENT ASSETS
Debtors 6 1,161,161 486,360
Cash at bank 86,186 572,490
1,247,347 1,058,850
CREDITORS
Amounts falling due within one year 7 395,855 206,836
NET CURRENT ASSETS 851,492 852,014
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,266,492

6,267,014

CREDITORS
Amounts falling due after more than one year 8 (4,204,018 ) (4,204,018 )

PROVISIONS FOR LIABILITIES (222,706 ) (222,706 )
NET ASSETS 1,839,768 1,840,290

CAPITAL AND RESERVES
Called up share capital 10 12 12
Undistributable reserves 1,008,975 1,008,975
Retained earnings 830,781 831,303
SHAREHOLDERS' FUNDS 1,839,768 1,840,290

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.

MLP PROPERTIES (UK) LIMITED (REGISTERED NUMBER: 08608479)

BALANCE SHEET - continued
31 MARCH 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 October 2024 and were signed on its behalf by:




Mr M Price - Director



Mrs L Price - Director


MLP PROPERTIES (UK) LIMITED (REGISTERED NUMBER: 08608479)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

MLP Properties (UK) 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: 08608479

Registered office: 14 Gelliwastad Road
Pontypridd
CF37 2BW

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 represents rents receivable during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Investment property
Investment properties are measured at fair value at each reporting date with changes in fair value 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 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.

Deferred tax relating to investment property that is measured at fair value in accordance with Section
16 Investment Property shall be measured using the tax rates and allowances that apply to sale of the
asset, except for investment property that has a limited useful life and is held within a business model
whose objective is to consume substantially all of the economic benefits embodied in the property over
time.

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 ) .

MLP PROPERTIES (UK) LIMITED (REGISTERED NUMBER: 08608479)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. PROPERTY, PLANT AND EQUIPMENT
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 1,206
DEPRECIATION
At 1 April 2023
and 31 March 2024 1,206
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 5,415,000
NET BOOK VALUE
At 31 March 2024 5,415,000
At 31 March 2023 5,415,000

Investment property is valued by the directors each year by reference to the value of similar properties.

6. DEBTORS
31/3/24 31/3/23
£    £   
Amounts falling due within one year:
Amounts owed by associates 351,933 75,653
Other debtors 9,228 10,707
361,161 86,360

Amounts falling due after more than one year:
Other debtors 800,000 400,000

Aggregate amounts 1,161,161 486,360

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Taxation and social security 18,911 62,009
Other creditors 376,944 144,827
395,855 206,836

MLP PROPERTIES (UK) LIMITED (REGISTERED NUMBER: 08608479)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Included within 'Other creditors' is amounts payable on demand to the company directors. Interest has not been charged to the company on this loan.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans 1,220,000 1,220,000
Other creditors 2,984,018 2,984,018
4,204,018 4,204,018

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 760,000 760,000

9. SECURED DEBTS

The following secured debts are included within creditors:

31/3/24 31/3/23
£    £   
Bank loans 1,220,000 1,220,000
Other Loans 2,984,018 2,984,018
4,204,018 4,204,018

As at the balance sheet date the standard debentures are held over the company in favour of Mr M & Mrs L Price relating to properties purchased.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/24 31/3/23
value: £    £   
100 Ordinary 10p 10 10
10 Ordinary A 10p 1 1
10 Ordinary B 10p 1 1
12 12