Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-282024-02-284true2023-03-01falseNo description of principal activity4trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11801983 2023-03-01 2024-02-28 11801983 2022-03-01 2023-02-28 11801983 2024-02-28 11801983 2023-02-28 11801983 c:Director1 2023-03-01 2024-02-28 11801983 d:FreeholdInvestmentProperty 2024-02-28 11801983 d:FreeholdInvestmentProperty 2023-02-28 11801983 d:CurrentFinancialInstruments 2024-02-28 11801983 d:CurrentFinancialInstruments 2023-02-28 11801983 d:Non-currentFinancialInstruments 2024-02-28 11801983 d:Non-currentFinancialInstruments 2023-02-28 11801983 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-28 11801983 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 11801983 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-28 11801983 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 11801983 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-02-28 11801983 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 11801983 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-02-28 11801983 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 11801983 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-02-28 11801983 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-02-28 11801983 d:ShareCapital 2024-02-28 11801983 d:ShareCapital 2023-02-28 11801983 d:RetainedEarningsAccumulatedLosses 2024-02-28 11801983 d:RetainedEarningsAccumulatedLosses 2023-02-28 11801983 c:OrdinaryShareClass1 2023-03-01 2024-02-28 11801983 c:OrdinaryShareClass1 2024-02-28 11801983 c:OrdinaryShareClass1 2023-02-28 11801983 c:OrdinaryShareClass2 2023-03-01 2024-02-28 11801983 c:OrdinaryShareClass2 2024-02-28 11801983 c:OrdinaryShareClass2 2023-02-28 11801983 c:OrdinaryShareClass3 2023-03-01 2024-02-28 11801983 c:OrdinaryShareClass3 2024-02-28 11801983 c:OrdinaryShareClass3 2023-02-28 11801983 c:OrdinaryShareClass4 2023-03-01 2024-02-28 11801983 c:OrdinaryShareClass4 2024-02-28 11801983 c:OrdinaryShareClass4 2023-02-28 11801983 c:FRS102 2023-03-01 2024-02-28 11801983 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 11801983 c:FullAccounts 2023-03-01 2024-02-28 11801983 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 11801983 e:PoundSterling 2023-03-01 2024-02-28 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11801983









MERRITT PROPERTIES LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2024

 
MERRITT PROPERTIES LTD
REGISTERED NUMBER: 11801983

STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
1,844,302
1,844,302

  
1,844,302
1,844,302

Current assets
  

Cash at bank and in hand
 5 
6,346
6,082

  
6,346
6,082

Creditors: amounts falling due within one year
 6 
(1,199,969)
(1,168,187)

Net current liabilities
  
 
 
(1,193,623)
 
 
(1,162,105)

Total assets less current liabilities
  
650,679
682,197

Creditors: amounts falling due after more than one year
 7 
(549,772)
(560,924)

  

Net assets
  
100,907
121,273


Capital and reserves
  

Called up share capital 
 9 
4
4

Profit and loss account
  
100,903
121,269

  
100,907
121,273

Page 1

 
MERRITT PROPERTIES LTD
REGISTERED NUMBER: 11801983
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 profit and loss account 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 by: 




T Merritt
Director

Date: 11 February 2025

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
MERRITT PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

1.


General information

Merritt Properties Limited is a private limited company incorporated in England and Wales. The registered office address is 101 New Cavendish Street, 1st Floor South, London, England, W1W 6XH.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
MERRITT PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

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.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
4
4


4.


Investment property


Freehold investment property

£



Valuation


At 1 March 2023
1,844,302



At 28 February 2024
1,844,302

The 2024 valuations were made by the directors, on an open market value for existing use basis.



At 28 February 2024




Page 4

 
MERRITT PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
6,346
6,082

6,346
6,082



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,119
9,627

Other creditors
1,187,700
1,154,560

Accruals and deferred income
2,150
4,000

1,199,969
1,168,187



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
15,661
26,815

Other loans
534,111
534,109

549,772
560,924


Page 5

 
MERRITT PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,119
9,626


10,119
9,626

Amounts falling due 1-2 years

Bank loans
10,375
9,849


10,375
9,849

Amounts falling due 2-5 years

Bank loans
5,286
16,966


5,286
16,966

Amounts falling due after more than 5 years

Other loans
534,111
534,109

534,111
534,109

559,891
570,550

Page 6

 
MERRITT PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) A Ordinary share of £1.00
1
1
1 (2023 - 1) B Ordinary share of £1.00
1
1
1 (2023 - 1) C Ordinary share of £1.00
1
1
1 (2023 - 1) D Ordinary share of £1.00
1
1

4

4


 
Page 7