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Company No: 10503018 (England and Wales)

MULBERRY HOUSE HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2024
Pages for filing with the registrar

MULBERRY HOUSE HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2024

Contents

MULBERRY HOUSE HOLDINGS LIMITED

BALANCE SHEET

As at 30 November 2024
MULBERRY HOUSE HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 30 November 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 902,000 850,000
Investments 4 5,585 5,585
907,585 855,585
Current assets
Debtors 5 1,515 1,765
Cash at bank and in hand 602,504 569,779
604,019 571,544
Creditors: amounts falling due within one year 6 ( 13,957) ( 12,647)
Net current assets 590,062 558,897
Total assets less current liabilities 1,497,647 1,414,482
Provision for liabilities 7 ( 27,402) ( 21,166)
Net assets 1,470,245 1,393,316
Capital and reserves
Called-up share capital 8 200 200
Profit and loss account 1,470,045 1,393,116
Total shareholder's funds 1,470,245 1,393,316

For the financial year ending 30 November 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Mulberry House Holdings Limited (registered number: 10503018) were approved and authorised for issue by the Director on 15 February 2025. They were signed on its behalf by:

J M Gibbs
Director
MULBERRY HOUSE HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
MULBERRY HOUSE HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mulberry House Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Mulberry House, Tedburn St Mary, Exeter, EX6 6AY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises rent receivable on the company's investment properties and is recognised in accordance with the terms of the underlying leases.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at the director's estimate of fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Investment property

Investment property
£
Valuation
As at 01 December 2023 850,000
Additions 31,468
Fair value movement 20,532
As at 30 November 2024 902,000

Investment property is included at director's estimate of fair value. There has been no valuation of investment property by an independent valuer.

4. Fixed asset investments

2024 2023
£ £
Participating interests 5,585 5,585

Investments in associates Total
£ £
Cost or valuation before impairment
At 01 December 2023 5,585 5,585
At 30 November 2024 5,585 5,585
Carrying value at 30 November 2024 5,585 5,585
Carrying value at 30 November 2023 5,585 5,585

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
30.11.2024
Ownership
30.11.2023
JSS Exeter (Development Land & New Homes) Limited 10 Southernhay West, Exeter, Devon EX1 1JG Provision of consultancy and estate agency services to landowners and developers Ordinary "B" shares 50.00% 50.00%

5. Debtors

2024 2023
£ £
Other debtors 1,515 1,765

6. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to associates 9,288 9,287
Taxation and social security 1,046 0
Other creditors 3,623 3,360
13,957 12,647

7. Provision for liabilities

2024 2023
£ £
Deferred tax 27,402 21,166

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
200 Ordinary shares of £ 1.00 each 200 200

Reserves
Included in the profit and loss reserve are fair value gains, net of associated deferred tax, of £82,432 (2023 £67,034) that are unrealised and non-distributable.