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REGISTERED NUMBER: 08975794 (England and Wales)















Melstar Ltd

Unaudited Financial Statements For The Year Ended 31 January 2024






Melstar Ltd (Registered number: 08975794)






Contents of the Financial Statements
For The Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Melstar Ltd

Company Information
For The Year Ended 31 January 2024







DIRECTOR: M A Lawson





SECRETARY: B K Thakrar





REGISTERED OFFICE: 3 Coldbath Square
London
EC1R 5HL





REGISTERED NUMBER: 08975794 (England and Wales)





ACCOUNTANTS: Kingswood Allotts Limited
Chartered Accountants
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU

Melstar Ltd (Registered number: 08975794)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,850,000 2,500,000

CURRENT ASSETS
Debtors 5 188,612 83,081
Cash at bank 74,719 197,825
263,331 280,906
CREDITORS
Amounts falling due within one year 6 1,087,418 963,903
NET CURRENT LIABILITIES (824,087 ) (682,997 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,025,913 1,817,003

PROVISIONS FOR LIABILITIES 703,786 452,286
NET ASSETS 2,322,127 1,364,717

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 7 2,116,323 1,361,823
Retained earnings 205,704 2,794
2,322,127 1,364,717

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 22 January 2025 and were signed by:





M A Lawson - Director


Melstar Ltd (Registered number: 08975794)

Notes to the Financial Statements
For The Year Ended 31 January 2024

1. STATUTORY INFORMATION

Melstar 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, unless otherwise specified in these accounting policies.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Melstar Ltd (Registered number: 08975794)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 2,500,000
Additions 344,000
Revaluations 1,006,000
At 31 January 2024 3,850,000
NET BOOK VALUE
At 31 January 2024 3,850,000
At 31 January 2023 2,500,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2024 1,006,000
Cost 2,844,000
3,850,000

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 15,762 550
Other debtors 22,850 82,531
38,612 83,081

Amounts falling due after more than one year:
Amounts owed by group undertakings 150,000 -

Aggregate amounts 188,612 83,081

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 5,059 948
Amounts owed to group undertakings 910,562 900,462
Taxation and social security 85,727 7,958
Other creditors 86,070 54,535
1,087,418 963,903

Melstar Ltd (Registered number: 08975794)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

7. RESERVES
Revaluation
reserve
£   
At 1 February 2023 1,361,823
Movement 754,500

At 31 January 2024 2,116,323

The investment property revaluation reserve relates to the revaluation of the company's investment property, net of deferred tax. The reserve is not distributable.


The profit and loss account includes all current and prior period retained profits and losses.

8. RELATED PARTY DISCLOSURES

As at the balance sheet date the company owed £910,562.29 (2023 - £900,462), to the parent company, Bradsett Limited.

9. POST BALANCE SHEET EVENTS

The company has guaranteed a bank loan, secured against it's investment properties, alongside a number of other associated companies, in consideration for which the company has available to it, at the discretion of an associated company, a loan facility of up to £1m for further property acquisitions.