IRIS Accounts Production v24.3.2.46 09440198 Board of Directors 28.2.23 27.2.24 27.2.24 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh094401982023-02-27094401982024-02-27094401982023-02-282024-02-27094401982022-02-27094401982022-02-282023-02-27094401982023-02-2709440198ns15:EnglandWales2023-02-282024-02-2709440198ns14:PoundSterling2023-02-282024-02-2709440198ns10:Director12023-02-282024-02-2709440198ns10:PrivateLimitedCompanyLtd2023-02-282024-02-2709440198ns10:SmallEntities2023-02-282024-02-2709440198ns10:AuditExempt-NoAccountantsReport2023-02-282024-02-2709440198ns10:SmallCompaniesRegimeForDirectorsReport2023-02-282024-02-2709440198ns10:SmallCompaniesRegimeForAccounts2023-02-282024-02-2709440198ns10:FullAccounts2023-02-282024-02-2709440198ns10:Director22023-02-282024-02-2709440198ns10:RegisteredOffice2023-02-282024-02-2709440198ns5:CurrentFinancialInstruments2024-02-2709440198ns5:CurrentFinancialInstruments2023-02-2709440198ns5:Non-currentFinancialInstruments2024-02-2709440198ns5:Non-currentFinancialInstruments2023-02-2709440198ns5:ShareCapital2024-02-2709440198ns5:ShareCapital2023-02-2709440198ns5:FurtherSpecificReserve1ComponentTotalEquity2024-02-2709440198ns5:FurtherSpecificReserve1ComponentTotalEquity2023-02-2709440198ns5:RetainedEarningsAccumulatedLosses2024-02-2709440198ns5:RetainedEarningsAccumulatedLosses2023-02-2709440198ns5:FurnitureFittings2023-02-282024-02-2709440198ns5:FurnitureFittings2023-02-2709440198ns5:FurnitureFittings2024-02-2709440198ns5:FurnitureFittings2023-02-2709440198ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2709440198ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-2709440198ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-02-2709440198ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-02-2709440198ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-02-2709440198ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-02-27
REGISTERED NUMBER: 09440198 (England and Wales)










Unaudited Financial Statements

for the Year Ended 27 February 2024

for

M & S Prime Estates Ltd

M & S Prime Estates Ltd (Registered number: 09440198)






Contents of the Financial Statements
for the Year Ended 27 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M & S Prime Estates Ltd

Company Information
for the Year Ended 27 February 2024







DIRECTORS: S Kumar
M Purewal





REGISTERED OFFICE: 4 Station Parade
Ruislip
England
HA4 7DL





REGISTERED NUMBER: 09440198 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Wynyard Business Park
Wynyard Avenue
Billingham
Cleveland
TS22 5TB

M & S Prime Estates Ltd (Registered number: 09440198)

Balance Sheet
27 February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 3 13,418 17,000
Investment property 4 6,990,000 6,992,046
7,003,418 7,009,046

CURRENT ASSETS
Debtors 5 141,000 141,000
Cash at bank 49,635 43,321
190,635 184,321
CREDITORS
Amounts falling due within one year 6 (110,616 ) (294,089 )
NET CURRENT ASSETS/(LIABILITIES) 80,019 (109,768 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,083,437

6,899,278

CREDITORS
Amounts falling due after more than one year 7 (4,420,491 ) (4,167,647 )

PROVISIONS FOR LIABILITIES (530,279 ) (530,668 )
NET ASSETS 2,132,667 2,200,963

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable reserves 9 2,260,664 2,262,321
Retained earnings 9 (128,097 ) (61,458 )
2,132,667 2,200,963

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 27 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 27 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

M & S Prime Estates Ltd (Registered number: 09440198)

Balance Sheet - continued
27 February 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 18 February 2025 and were signed on its behalf by:





M Purewal - Director


M & S Prime Estates Ltd (Registered number: 09440198)

Notes to the Financial Statements
for the Year Ended 27 February 2024

1. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

INVESTMENT PROPERTY
Investment property is 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 balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 2 ).

M & S Prime Estates Ltd (Registered number: 09440198)

Notes to the Financial Statements - continued
for the Year Ended 27 February 2024

3. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 28 February 2023 60,608
Additions 850
At 27 February 2024 61,458
DEPRECIATION
At 28 February 2023 43,608
Charge for year 4,432
At 27 February 2024 48,040
NET BOOK VALUE
At 27 February 2024 13,418
At 27 February 2023 17,000

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 28 February 2023 6,992,046
Revaluations (2,046 )
At 27 February 2024 6,990,000
NET BOOK VALUE
At 27 February 2024 6,990,000
At 27 February 2023 6,992,046

Fair value at 27 February 2024 is represented by:
£   
Valuation in 2018 1,636,376
Valuation in 2019 875,000
Valuation in 2020 85,804
Valuation in 2021 896,242
Valuation in 2023 635,000
Valuation in 2024 2,046
Cost 2,859,532
6,990,000

M & S Prime Estates Ltd (Registered number: 09440198)

Notes to the Financial Statements - continued
for the Year Ended 27 February 2024

4. INVESTMENT PROPERTY - continued

Properties are required to be disclosed within the financial statements at fair value.

The valuation was made by directors on an open market value basis by reference to market evidence of transaction prices for similar properties. Deferred tax has been calculated on the revalued amounts and provided for within the financial statements.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 141,000 141,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 34,576 211,756
Other creditors 4,832 2,061
Directors' current accounts 69,990 76,701
Accrued expenses 1,218 3,571
110,616 294,089

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 8) 4,420,491 4,167,647

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgage due after one year 4,390,443 4,136,179

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 5,600 9,729
Mortgage due within one year 28,976 202,027
34,576 211,756

Amounts falling due between one and two years:
Bank loans - 1-2 years 5,740 9,976

M & S Prime Estates Ltd (Registered number: 09440198)

Notes to the Financial Statements - continued
for the Year Ended 27 February 2024

8. LOANS - continued
2024 2023
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 24,308 21,492

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Mortgage due after one year 4,390,443 4,136,179

9. RESERVES

PROFIT AND LOSS RESERVES
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

FAIR VALUE RESERVES
The Company uses the revaluation model for the measurement of its investment properties. The reserve records the revaluation surplus recognised less the related provision for deferred tax. This is a non distributable reserve.