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Registered Number: 08040922
England and Wales

 

 

 


Abridged Accounts

for the year ended 30 April 2024

for

MERTON GRANGE LTD

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 6,635    7,284 
Investment Property 4 3,171,358    2,895,000 
3,177,993    2,902,284 
Current assets      
Debtors 129,813    129,625 
Cash at bank and in hand 56,776    30,636 
186,589    160,261 
Creditors: amount falling due within one year (192,264)   (153,838)
Net current assets (5,675)   6,423 
 
Total assets less current liabilities 3,172,318    2,908,707 
Creditors: amount falling due after more than one year (1,905,819)   (1,741,358)
Provisions for liabilities (188,622)   (171,522)
Net assets 1,077,877    995,827 
 

Capital and reserves
     
Called up share capital 5 4    4 
Revaluation Reserves 6 804,126    736,116 
Profit and loss account 273,747    259,707 
Shareholders' funds 1,077,877    995,827 
 


For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The directors of the company have elected not to include the Income Statement within the financial statements. 
The financial statements were approved by the board of directors on 31 January 2025 and were signed on its behalf by:


-------------------------------
M Shiraz
Director
1
General Information
Merton Grange Ltd is a company limited by shares and is incorporated in England and Wales. The address of the registered office is 517 Bristol Rd, Selly Oak, Birmingham, West Midlands, B29 6AU. The nature of the company's operations and its principal activity was that of property investment.
1.

Accounting policies

Significant accounting policies
The company's financial statements have been prepared in compliance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention and on a going concern basis. The financial statements comprise the unaudited financial statements of the company up to 30 April each year, and are stated in pound sterling, the company's functional and presentational currency.

The principal accounting policies applied in the preparation of these financial statements are set out below, these policies have been applied consistently to all the years presented, unless otherwise stated.
Turnover
Turnover comprises rental income receivable during the period.
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 taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 20% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Investment properties
Investment properties are measured at fair value annually with any change recognised in the profit and loss account. Unrealised gains or losses (net of related deferred tax) are transferred from retained earnings to a separate revaluation reserve.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 May 2023 399    2,000    12,458    14,857 
Additions     1,010    1,010 
Disposals      
At 30 April 2024 399    2,000    13,468    15,867 
Depreciation
At 01 May 2023 399    1,181    5,994    7,574 
Charge for year   164    1,494    1,658 
On disposals      
At 30 April 2024 399    1,345    7,488    9,232 
Net book values
Closing balance as at 30 April 2024   655    5,980    6,635 
Opening balance as at 01 May 2023   1,024    6,260    7,284 


4.

Investment Property

Cost Other investments other than loans   Total
  £   £
At 01 May 2023 2,895,000    2,895,000 
Additions 186,358    186,358 
Transfer to/from tangible fixed assets  
Disposals  
Revaluations 90,000    90,000 
At 30 April 2024 3,171,358    3,171,358 
Other investments comprise the investment property held by the company. The investment property was revalued as at the balance sheet date by the Director based on his knowledge and experience of the nature and class of asset.

5.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
4 Ordinary shares of £1.00 each  
 

2