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Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Minaret (UK) Limited

Minaret (UK) Limited (Registered number: 03596354)






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


Minaret (UK) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Professor T M Akhtar





SECRETARY: Mrs S Akhtar





REGISTERED OFFICE: 146 High Street
Billericay
Essex
CM12 9DF





REGISTERED NUMBER: 03596354 (England and Wales)





ACCOUNTANTS: Michael Letch & Partners LLP
Accountants
146 High Street
Billericay
Essex
CM12 9DF

Minaret (UK) Limited (Registered number: 03596354)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 5,380,971 5,380,971
5,380,971 5,380,971

CURRENT ASSETS
Debtors 6 5,642 3,123
Cash at bank 14,741 16,179
20,383 19,302
CREDITORS
Amounts falling due within one year 7 96,692 68,539
NET CURRENT LIABILITIES (76,309 ) (49,237 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,304,662

5,331,734

CREDITORS
Amounts falling due after more than one
year

8

(3,658,668

)

(3,658,668

)

PROVISIONS FOR LIABILITIES (162,062 ) (162,062 )
NET ASSETS 1,483,932 1,511,004

CAPITAL AND RESERVES
Called up share capital 4 4
Fair value reserve 10 1,692,566 1,692,566
Retained earnings (208,638 ) (181,566 )
1,483,932 1,511,004

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 director acknowledges her 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.

Minaret (UK) Limited (Registered number: 03596354)

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 director and authorised for issue on 28 November 2024 and were signed by:





Professor T M Akhtar - Director


Minaret (UK) Limited (Registered number: 03596354)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Minaret (UK) 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.

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.
Plant and machinery etc - 40% 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 1 (2023 - 1 ) .

Minaret (UK) Limited (Registered number: 03596354)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 929
DEPRECIATION
At 1 April 2023
and 31 March 2024 929
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 5,380,971
NET BOOK VALUE
At 31 March 2024 5,380,971
At 31 March 2023 5,380,971

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2017 1,854,565
Cost 3,526,406
5,380,971

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 3,526,406 3,526,406

Investment properties was valued on an open market basis on 1 October 2017 by Connells Survey & Valuation Limited .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments 5,642 3,123

Minaret (UK) Limited (Registered number: 03596354)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors (1 ) (1 )
Other creditors 1,330 810
Accrued expenses 33,750 26,317
Amounts due to related parties 61,613 41,413
96,692 68,539

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans more 5 yr by instal 3,658,668 3,658,668

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,658,668 3,658,668

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 3,658,668 3,658,668

Loans of £3,658,668 (2023 £3,658,668) due after more than 1 year are secured by way of fixed charges over the properties to which they relate.

10. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 1,692,566