Registered number
03970428
M.I.S. Properties Ltd
Filleted Accounts
30 April 2024
M.I.S. Properties Ltd
Registered number: 03970428
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 45,600,448 54,643,357
Investments 4 100 -
45,600,548 54,643,357
Current assets
Debtors 5 2,929,946 835,584
Cash at bank and in hand 693,224 734,238
3,623,170 1,569,822
Creditors: amounts falling due within one year 6 (556,083) (588,604)
Net current assets 3,067,087 981,218
Total assets less current liabilities 48,667,635 55,624,575
Creditors: amounts falling due after more than one year 7 (22,025,193) (22,018,615)
Provisions for liabilities (6,746,779) (6,380,774)
Net assets 19,895,663 27,225,186
Capital and reserves
Called up share capital 100 100
Profit and loss account 19,895,563 27,225,086
Shareholders' funds 19,895,663 27,225,186
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr C Charalambous
Director
Approved by the board on 10 January 2025
M.I.S. Properties Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 25% on reducing balance method
Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.
Investments properties
Investments properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in the profit and loss. No depreciation is provided.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 54,441,324 402,776 38,490 54,882,590
Additions 643,381 60,614 - 703,995
Disposals (9,630,000) (90,397) - (9,720,397)
At 30 April 2024 45,454,705 372,993 38,490 45,866,188
Depreciation
At 1 May 2023 - 223,802 15,432 239,234
Charge for the year - 43,340 5,765 49,105
On disposals - (22,599) - (22,599)
At 30 April 2024 - 244,543 21,197 265,740
Net book value
At 30 April 2024 45,454,705 128,450 17,293 45,600,448
At 30 April 2023 54,441,324 178,974 23,058 54,643,356
Freehold land and buildings: 2024 2023
£ £
Historical cost 19,634,996 20,858,304
Cumulative depreciation based on historical cost - -
19,634,996 20,858,304
The properties were revalued on 23 September 2021 by Mr Flavia Amato RICS, Mr Christian Glazier RICS and Mr Peter Jacob RICS of BNP Paribas Real Estate, chartered surveyors, on the open market for current use.
The above valuations have been reviewed by the director on 30 April 2024 and considered that there is no difference from previous years.
4 Investments
Investments in
subsidiary
undertakings
£
Cost
Additions 100
At 30 April 2024 100
Historical cost
At 30 April 2024 100
The company's investments at the Balance Sheet date in the share capital of the following:
M.I.S. Investments 2 Ltd
Registered office : 9 Groverland Court, 289 Chase Side, London, N14 9HY.
Nature of Business:real estate investors.
%
Class of shares: Holding
Ordinary 100
2024 2023
£ £
Aggregate capital and reserve 6,086,711 -
Profit(loss) for the year (5,352) -
5 Debtors 2024 2023
£ £
Trade debtors 50,059 24,975
Amounts owed by group undertakings and undertakings in which the company has a participating interest 2,613,887 -
Other debtors 266,000 810,609
2,929,946 835,584
Amounts due after more than one year included above 2,613,887 -
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,548 9,548
Trade creditors 5,238 11,135
Taxation and social security costs 38,044 55,864
Other creditors 503,253 512,057
556,083 588,604
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 22,025,193 22,018,615
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 22,011,502 22,018,615
Loans are secured by the company's freehold properties and personally by the director.
9 Related party transactions
During the year the company transferred a freehold property in the sum of £9,630,000 (Historic cost £3,027,383) to its subsidiary M.I.S. Properties Ltd .At the year end interecompany balance was £2,613,887 . No interest was charged.

At the balance sheet date £70cr (2023: £545,609dr) was due to/from to the director to the company.
10 Controlling party
The company is controlled by Mr and Mrs Charalambous the director and secretary of the company.
11 Other information
M.I.S. Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
9 Grovelands Court
289 Chase Side
London
N14 9HY
M.I.S. Properties Ltd 03970428 false 2023-05-01 2024-04-30 2024-04-30 VT Final Accounts July 2024 Mr C Charalambous No description of principal activity 03970428 2022-05-01 2023-04-30 03970428 core:WithinOneYear 2023-04-30 03970428 core:AfterOneYear 2023-04-30 03970428 core:ShareCapital 2023-04-30 03970428 core:RetainedEarningsAccumulatedLosses 2023-04-30 03970428 2023-05-01 2024-04-30 03970428 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03970428 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 03970428 bus:Director40 2023-05-01 2024-04-30 03970428 1 2023-05-01 2024-04-30 03970428 2 2023-05-01 2024-04-30 03970428 core:LandBuildings 2023-05-01 2024-04-30 03970428 core:PlantMachinery 2023-05-01 2024-04-30 03970428 core:Vehicles 2023-05-01 2024-04-30 03970428 countries:England 2023-05-01 2024-04-30 03970428 bus:FRS102 2023-05-01 2024-04-30 03970428 bus:FilletedAccounts 2023-05-01 2024-04-30 03970428 2024-04-30 03970428 core:WithinOneYear 2024-04-30 03970428 core:AfterOneYear 2024-04-30 03970428 core:ShareCapital 2024-04-30 03970428 core:RetainedEarningsAccumulatedLosses 2024-04-30 03970428 core:LandBuildings 2024-04-30 03970428 core:PlantMachinery 2024-04-30 03970428 core:Vehicles 2024-04-30 03970428 core:AdditionsToInvestments 2024-04-30 03970428 2023-04-30 03970428 core:LandBuildings 2023-04-30 03970428 core:PlantMachinery 2023-04-30 03970428 core:Vehicles 2023-04-30 iso4217:GBP xbrli:pure