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REGISTERED NUMBER: 11342812 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

MILLERS TERRACE LIMITED

MILLERS TERRACE LIMITED (REGISTERED NUMBER: 11342812)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MILLERS TERRACE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Mrs O Weinberger





REGISTERED OFFICE: Buckingham House 2nd Floor
45 Vivian Avenue
London
NW4 3XA





REGISTERED NUMBER: 11342812 (England and Wales)





ACCOUNTANTS: MGR SD Limited
Chartered Accountants
55 Loudoun Road
London
NW8 0DL

MILLERS TERRACE LIMITED (REGISTERED NUMBER: 11342812)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 - 59
Investment property 5 5,018,337 4,656,342
5,018,337 4,656,401

CURRENT ASSETS
Debtors 6 56,409 218,961
Cash at bank 52,064 1,455
108,473 220,416
CREDITORS
Amounts falling due within one year 7 (2,214,596 ) (4,981,946 )
NET CURRENT LIABILITIES (2,106,123 ) (4,761,530 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,912,214 (105,129 )

CREDITORS
Amounts falling due after more than one year 8 (3,001,530 ) -
NET LIABILITIES (89,316 ) (105,129 )

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings (89,416 ) (105,229 )
SHAREHOLDERS' FUNDS (89,316 ) (105,129 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

MILLERS TERRACE LIMITED (REGISTERED NUMBER: 11342812)

BALANCE SHEET - continued
31 MAY 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 director and authorised for issue on 11 February 2025 and were signed by:





Mrs O Weinberger - Director


MILLERS TERRACE LIMITED (REGISTERED NUMBER: 11342812)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Millers Terrace Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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.

The director reports net current liabilities of £2,106,123 (2023: £4,761,530) at the balance sheet date. The parent company confirms that it will continue to support the company and will not seek repayment of the amounts it is owed ahead of other creditors in the foreseeable future.

Due to the above the director believes that it is appropriate for the financial statements to be prepared on a going concern basis.

Turnover
Turnover is measured at the fair value of the rent 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 - 20% on cost

Investment property
Investment property is shown at fair value. 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

MILLERS TERRACE LIMITED (REGISTERED NUMBER: 11342812)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 June 2023
and 31 May 2024 352
DEPRECIATION
At 1 June 2023 293
Charge for year 59
At 31 May 2024 352
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 59

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 4,656,342
Additions 719,253
Disposals (357,258 )
At 31 May 2024 5,018,337
NET BOOK VALUE
At 31 May 2024 5,018,337
At 31 May 2023 4,656,342

Investment properties were valued on an open market basis and the director considers this to be the fair value at the balance sheet date.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 2,000 -
Amounts owed by group undertakings 45,926 62,276
Other debtors 8,483 156,685
56,409 218,961

MILLERS TERRACE LIMITED (REGISTERED NUMBER: 11342812)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts (see note 9) - 2,806,080
Amounts owed to group undertakings 2,202,582 2,173,766
Other creditors 12,014 2,100
2,214,596 4,981,946

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans (see note 9) 3,001,530 -

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 3,001,530 -

9. LOANS


10. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 3,001,530 2,806,080

The bank loans are secured against the investment properties owned by the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary 1 100 100

12. ULTIMATE CONTROLLING PARTY

The company is wholly owned by Sho Investments Limited.

Sho Investments Limited is jointly owned by Hoze Holdings Limited and Shiff Investments Limited.