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Registered number: 04480243









MELBOND PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
MELBOND PROPERTIES LIMITED
REGISTERED NUMBER: 04480243

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
179
239

Investment property
 5 
187,795
187,795

  
187,974
188,034

Current assets
  

Cash at bank and in hand
 6 
23,290
15,605

  
23,290
15,605

Creditors: amounts falling due within one year
 7 
(14,518)
(19,127)

Net current assets/(liabilities)
  
 
 
8,772
 
 
(3,522)

Total assets less current liabilities
  
196,746
184,512

  

Net assets
  
196,746
184,512


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
196,744
184,510

  
196,746
184,512


Page 1

 
MELBOND PROPERTIES LIMITED
REGISTERED NUMBER: 04480243
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 January 2025.




Mr D J Sullivan Jnr
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
MELBOND PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Melbond Properties Limited is a private company limited by shares incorporated in England and Wales.The registered office is Charles Lake House, Claire Causeway, Crossways Business Park, Dartford, Kent, DA2 6QA . The principal activity of the company is that of property investment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.


Page 3

 
MELBOND PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Plant and machinery
-
20%
On Cost
Motor vehicles
-
25%
Reducing balance
Computer equipment
-
33%
On cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 3).

Page 4

 
MELBOND PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 August 2023
430
8,640
1,200
10,270



At 31 July 2024

430
8,640
1,200
10,270



Depreciation


At 1 August 2023
430
8,401
1,200
10,031


Charge for the year on owned assets
-
60
-
60



At 31 July 2024

430
8,461
1,200
10,091



Net book value



At 31 July 2024
-
179
-
179



At 31 July 2023
-
239
-
239


5.


Investment property


Freehold investment property

£



Cost and valuation


At 1 August 2023
187,795



At 31 July 2024
187,795

The 2024 valuation was made by the directors, on an open market value for existing use basis, on the basis that the current market valuation is not materially different to cost.



Page 5

 
MELBOND PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
23,290
15,605

23,290
15,605



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
2,883
3,031

Other creditors
9,986
13,986

Accruals and deferred income
1,649
2,110

14,518
19,127



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
2
2



9.


Related party transactions

At the year end the company owed one of the directors £9,986 (2023: £13,986). This amount was advanced on the interest free basis and is repayable upon demand.

 
Page 6