Registered number
12059132
MIL PROPERTY INVESTMENTS LIMITED
Filleted Accounts
30 June 2024
MIL PROPERTY INVESTMENTS LIMITED
Registered number: 12059132
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 520,162 520,162
Current assets
Cash at bank and in hand 21,122 22,728
Creditors: amounts falling due within one year 4 (303,167) (300,297)
Net current liabilities (282,045) (277,569)
Total assets less current liabilities 238,117 242,593
Creditors: amounts falling due after more than one year 5 (227,900) (240,900)
Net assets 10,217 1,693
Capital and reserves
Called up share capital 100 100
Profit and loss account 10,117 1,593
Shareholders' funds 10,217 1,693
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
I Iqbal
Director
Approved by the board on 20 March 2025
MIL PROPERTY INVESTMENTS LIMITED
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the fair value of the rent received or receivable measured on accruals basis and in accordance with the relevant tenancy agreements.
Investment properties
Investment properties are properties which are held either to earn rental income or for capital appreciation or for both.

Investment properties are carried at fair value at each reporting date, determined annually by the directors and derived from the current market rents and investment properties yeilds 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.
Deferred tax on investment properties
Deferred tax relating to investment property that is measured at fair value is measured using the tax rates and allowances that apply to sale of the asset, except for investment property that has a limited useful life and is held within a business model whose objective is to consume substantially all of the economic benefits embodied in the property over time.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Finance costs
Finance costs are charged to profit and loss account, over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.
Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Investment properties
£
Cost
At 1 July 2023 520,162
At 30 June 2024 520,162
Depreciation
At 30 June 2024 -
Net book value
At 30 June 2024 520,162
At 30 June 2023 520,162
Investment properties are carried at fair value at each reporting date, determined annually by the directors with recommendations from external valuers and derived from the current market rents and investment properties yeilds for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset.
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 3,000 3,000
Director's loan 277,353 277,353
Taxation and social security costs 1,999 374
Other creditors 20,815 19,570
303,167 300,297
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 227,900 240,900
6 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 215,900 228,900
Secured bank loans 230,900 243,900
The bank loan is secured by a fixed and floating charge over all of the company's assets.
7 Related party transactions
At the year end, the company owed £277,353 (2023: 277,353) to a member of key management personnel. The loan is repayable on demand and the rate of interest charged is 0%. The loan is presented within creditors: amounts falling due within one year.
8 Other information
MIL PROPERTY INVESTMENTS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
103 High Road
London
N22 6BB
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