Caseware UK (AP4) 2023.0.135 2023.0.135 2024-10-312024-10-314The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-11-02falseNo description of principal activity4truetruefalse 12955652 2023-11-02 2024-10-31 12955652 2022-11-02 2023-11-01 12955652 2024-10-31 12955652 2023-11-01 12955652 c:Director3 2023-11-02 2024-10-31 12955652 d:Buildings 2023-11-02 2024-10-31 12955652 d:Buildings 2024-10-31 12955652 d:Buildings 2023-11-01 12955652 d:Buildings d:OwnedOrFreeholdAssets 2023-11-02 2024-10-31 12955652 d:PlantMachinery 2023-11-02 2024-10-31 12955652 d:PlantMachinery 2024-10-31 12955652 d:PlantMachinery 2023-11-01 12955652 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-11-02 2024-10-31 12955652 d:OwnedOrFreeholdAssets 2023-11-02 2024-10-31 12955652 d:FreeholdInvestmentProperty 2024-10-31 12955652 d:FreeholdInvestmentProperty 2 2023-11-02 2024-10-31 12955652 d:FreeholdInvestmentProperty 3 2023-11-02 2024-10-31 12955652 d:CurrentFinancialInstruments 2024-10-31 12955652 d:CurrentFinancialInstruments 2023-11-01 12955652 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 12955652 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-01 12955652 d:ShareCapital 2024-10-31 12955652 d:ShareCapital 2023-11-01 12955652 d:InvestmentPropertiesRevaluationReserve 2023-11-02 2024-10-31 12955652 d:InvestmentPropertiesRevaluationReserve 2024-10-31 12955652 d:InvestmentPropertiesRevaluationReserve 2023-11-01 12955652 d:MergerReserve 2024-10-31 12955652 d:MergerReserve 2023-11-01 12955652 d:RetainedEarningsAccumulatedLosses 2023-11-02 2024-10-31 12955652 d:RetainedEarningsAccumulatedLosses 2024-10-31 12955652 d:RetainedEarningsAccumulatedLosses 2023-11-01 12955652 d:AcceleratedTaxDepreciationDeferredTax 2024-10-31 12955652 d:AcceleratedTaxDepreciationDeferredTax 2023-11-01 12955652 d:TaxLossesCarry-forwardsDeferredTax 2024-10-31 12955652 d:TaxLossesCarry-forwardsDeferredTax 2023-11-01 12955652 d:OtherDeferredTax 2024-10-31 12955652 d:OtherDeferredTax 2023-11-01 12955652 c:OrdinaryShareClass1 2023-11-02 2024-10-31 12955652 c:OrdinaryShareClass1 2024-10-31 12955652 c:OrdinaryShareClass1 2023-11-01 12955652 c:FRS102 2023-11-02 2024-10-31 12955652 c:AuditExempt-NoAccountantsReport 2023-11-02 2024-10-31 12955652 c:FullAccounts 2023-11-02 2024-10-31 12955652 c:PrivateLimitedCompanyLtd 2023-11-02 2024-10-31 12955652 f:PoundSterling 2023-11-02 2024-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12955652










MELROSE BROS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
MELROSE BROS LTD
REGISTERED NUMBER: 12955652

BALANCE SHEET
AS AT 31 OCTOBER 2024

31 October
1 November
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
413
291,791

Investment property
  
1,846,311
-

  
1,846,724
291,791

Current assets
  

Debtors: amounts falling due within one year
 7 
1,600,403
777,992

Cash at bank and in hand
 8 
24,017
38,880

  
1,624,420
816,872

Creditors: amounts falling due within one year
 9 
(41,172)
(7,177)

Net current assets
  
 
 
1,583,248
 
 
809,695

Total assets less current liabilities
  
3,429,972
1,101,486

Provisions for liabilities
  

Deferred tax
 10 
(401,860)
-

  
 
 
(401,860)
 
 
-

Net assets
  
3,028,112
1,101,486


Capital and reserves
  

Called up share capital 
 11 
200
200

Investment property reserve
  
1,250,856
-

Merger reserve
  
258,211
258,211

Profit and loss account
  
1,518,845
843,075

  
3,028,112
1,101,486


Page 1

 
MELROSE BROS LTD
REGISTERED NUMBER: 12955652
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 statement of comprehensive income 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 on 10 March 2025.




Lee Charles Bebb
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
MELROSE BROS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Melrose Bros Ltd, 12955652, is a private company limited by shares, incorporated in England and Wales. The address of its registered office and principal place of business is Sunnyview Holiday Park, Bwlch-Y-Ffridd, Newtown, Powys, SY16 3JF.
The principal activity of the company is land development.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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.

Page 3

 
MELROSE BROS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 4

 
MELROSE BROS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
No depreciation
Plant and machinery
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

The directors believe the residual value of the freehold property is similar to that of the cost and therefore depreciation is not applied.

  
2.5

Investment property

Investment property is carried at fair value determined annually by the Directors 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.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

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.

 
2.8

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.

Page 5

 
MELROSE BROS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.


4.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 6

 
MELROSE BROS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Tangible fixed assets







Freehold property
Plant and machinery
Total

£
£
£



Cost or valuation


At 2 November 2023
291,240
881
292,121


Additions
29,042
-
29,042


Disposals
(126,584)
-
(126,584)


Transfers between classes
(193,698)
-
(193,698)



At 31 October 2024

-
881
881



Depreciation


At 2 November 2023
-
330
330


Charge for the year on owned assets
-
138
138



At 31 October 2024

-
468
468



Net book value



At 31 October 2024
-
413
413



At 1 November 2023
291,240
551
291,791

Page 7

 
MELROSE BROS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


Investment property





Freehold investment property

£



Valuation


Surplus on revaluation
1,652,613


Transfers between classes
193,698



At 31 October 2024
1,846,311

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



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

31 October
1 November
2024
2023
£
£


Historic cost
193,698
-

193,698
-


7.


Debtors

31 October
1 November
2024
2023
£
£


Trade debtors
-
3,600

Other debtors
1,600,403
750,393

Deferred taxation
-
23,999

1,600,403
777,992


Page 8

 
MELROSE BROS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

8.


Cash and cash equivalents

31 October
1 November
2024
2023
£
£

Cash at bank and in hand
24,017
38,880

24,017
38,880



9.


Creditors: Amounts falling due within one year

31 October
1 November
2024
2023
£
£

Trade creditors
179
5,377

Other taxation and social security
38,821
-

Accruals and deferred income
2,172
1,800

41,172
7,177


Page 9

 
MELROSE BROS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

10.


Deferred taxation






2024


£






At beginning of year
(23,999)


Charged to profit or loss
401,757


Utilised in year
24,102



At end of year
401,860

The deferred taxation balance is made up as follows:

31 October
1 November
2024
2023
£
£


Accelerated capital allowances
103
138

Tax losses carried forward
-
(24,137)

Revaluation reserve
401,757
-

401,860
(23,999)


11.


Share capital

31 October
1 November
2024
2023
£
£
Allotted, called up and fully paid



200 (2023 - 200) Ordinary shares of £1.00 each
200
200



12.


Reserves

Investment property revaluation reserve

The investment property revaluation reserve represents the revaluation of the investment property, over the cost of the asset, to bring it in line with the current market value.

Profit and loss account

The profit and loss account represents the accumulated profits of the Company since incorporation less distributions made to shareholders.

Page 10

 
MELROSE BROS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

13.


Related party transactions

Included within other debtors is a balance due from TW & PA Leisure Ltd in the sum of £700,000 (2023: £700,000)  and a balance of £900,000 (2023: £50,000) due from Mid Wales Leisure Ltd. The directors of Melrose Bros Ltd are related to the directors in TW & PA Leisure Ltd and Mid Wales Leisure Ltd. No interest has been charged and no repayments have been made during the year. The loan is repayable on demand.

 
Page 11