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COMPANY REGISTRATION NUMBER: 10044257
MLT Property Holdings Limited
Unaudited financial statements
30 November 2024
MLT Property Holdings Limited
Statement of financial position
30 November 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
1,146,071
1,050,000
Current assets
Debtors
6
1,915
481
Cash at bank and in hand
47,300
20,391
-------
-------
49,215
20,872
Creditors: Amounts falling due within one year
7
( 409,501)
( 322,930)
---------
---------
Net current liabilities
( 360,286)
( 302,058)
-----------
-----------
Total assets less current liabilities
785,785
747,942
Creditors: Amounts falling due after more than one year
8
( 201,050)
( 201,050)
Provisions
Taxation including deferred tax
( 100,836)
( 100,836)
---------
---------
Net assets
483,899
446,056
---------
---------
Capital and reserves
Called up share capital
100
100
Revaluation reserve
302,510
302,510
Profit and loss account
181,289
143,446
---------
---------
Shareholders funds
483,899
446,056
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MLT Property Holdings Limited
Statement of financial position (continued)
30 November 2024
These financial statements were approved by the board of directors and authorised for issue on 10 March 2025 , and are signed on behalf of the board by:
W B Betts
Director
Company registration number: 10044257
MLT Property Holdings Limited
Notes to the financial statements
Year ended 30 November 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 61 Rattlers Road, Brandon, Suffolk, IP27 0HA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
4. Employee numbers
The average number of employees during the year was 4 (2023: 4 ).
5. Tangible assets
Investment properties
£
Cost
At 1 December 2023
1,050,000
Additions
96,071
-----------
At 30 November 2024
1,146,071
-----------
Depreciation
At 1 December 2023 and 30 November 2024
-----------
Carrying amount
At 30 November 2024
1,146,071
-----------
At 30 November 2023
1,050,000
-----------
The directors have revalued the investment properties based on the open market value as at 30 November 2024. The original costs amount to £742,146 (2023: £646,654).
6. Debtors
2024
2023
£
£
Other debtors
1,915
481
------
----
7. Creditors: Amounts falling due within one year
2024
2023
£
£
Trade creditors
34
Social security and other taxes
12,355
14,580
Other creditors
397,146
308,316
---------
---------
409,501
322,930
---------
---------
8. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
201,050
201,050
---------
---------
Included within creditors: amounts falling due after more than one year is an amount of £201,050 (2023: £201,050) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
Included in bank loans is an amount of £201,050 (2023: £201,050) which is secured by the company.