REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
Melrose Property Rentals Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
Melrose Property Rentals Ltd |
Melrose Property Rentals Ltd (Registered number: 11954329) |
Contents of the Financial Statements |
for the Year Ended 30 April 2024 |
Page |
Statement of Financial Position | 1 |
Notes to the Financial Statements | 3 |
Melrose Property Rentals Ltd (Registered number: 11954329) |
Statement of Financial Position |
30 April 2024 |
30.4.24 | 30.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
Melrose Property Rentals Ltd (Registered number: 11954329) |
Statement of Financial Position - continued |
30 April 2024 |
30.4.24 | 30.4.23 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Fair value reserve | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 were approved by the director and authorised for issue on |
Melrose Property Rentals Ltd (Registered number: 11954329) |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
Melrose Property Rentals Ltd is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the fair value of rent received or receivable from the investment properties, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment properties are 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. |
Melrose Property Rentals Ltd (Registered number: 11954329) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2023 |
Revaluations | 7,900 |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Investment properties situated at 16 Eleanor Street, Treherbert, Treorchy, Mid Glamorgan, CF425AD and 60 Church Street, Mountain Ash, Mid Glamorgan, CF453YB are under a charge from Shawbrook Bank Limited. The charge was created on 20 December 2021. |
Fair value at 30 April 2024 is represented by: |
£ |
Valuation in 2021 | 12,347 |
Valuation in 2022 | (4,862 | ) |
Valuation in 2023 | 102,308 |
Valuation in 2024 | 7,900 |
Cost | 362,207 |
479,900 |
Melrose Property Rentals Ltd (Registered number: 11954329) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans |
The loan amounting to £122,582 (2023: £122,566) is secured by the way of charge on the properties situated at 16 Eleanor Street, Treherbert, Treorchy, Mid Glamorgan, CF425AD and 60 Church Street, Mountain Ash, Mid Glamorgan, CF453YB (Disclosed as investment properties). The charge was created in the name of Shawbrook Bank Limited on 20 December 2021. |
Melrose Property Rentals Ltd (Registered number: 11954329) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.24 | 30.4.23 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
10. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 May 2023 |
Transfer to/from reserves | 6,399 |
At 30 April 2024 |
11. | RELATED PARTY DISCLOSURES |
The company owes an amount of £8,298 (2023: £13,086) to its director, Mr David Martin Shallow who is also a 50% shareholder in the company as at accounting year end date. |
The company owes an amount of £217,689 (2023: £217,689) to Ms Miriam Alice Greaney who is also a 50% shareholder in the company as at accounting year end date. Ms Miriam Alice Greaney was also held the position of director till 3rdMarch 2020 in Melrose Property Rentals Ltd. |