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Registered number: 10502970
Merryn Properties Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
Deans
Gibson House Hurricane Court
Hurricane Close
Stafford
ST16 1GZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10502970
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 280,000 190,897
280,000 190,897
CURRENT ASSETS
Cash at bank and in hand 43,074 44,116
43,074 44,116
Creditors: Amounts Falling Due Within One Year 5 (195,049 ) (200,564 )
NET CURRENT ASSETS (LIABILITIES) (151,975 ) (156,448 )
TOTAL ASSETS LESS CURRENT LIABILITIES 128,025 34,449
PROVISIONS FOR LIABILITIES
Deferred Taxation (22,275 ) -
NET ASSETS 105,750 34,449
CAPITAL AND RESERVES
Called up share capital 6 100 100
Revaluation reserve 7 66,827 -
Profit and Loss Account 38,823 34,349
SHAREHOLDERS' FUNDS 105,750 34,449
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Page 2
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss V M Bladon
Director
8 April 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Merryn Properties Limited is a private company, limited by shares, registered in England & Wales.  The company's registered number and registered office address can be found on the Company Information page.
2. Accounting Policies
2.1. Basis of Preparation of 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable. The policies adopted for the recognition of turnover are as follows:
Rental income
Rental income from operating leases (net of any incentives given to the lessees) is recognised on a straight-line basis over the lease term.
2.3. Investment Properties
In the opinion of the directors the investment property is included at an amount that accords to its fair value at the balance sheet date. Revaluation surpluses are recognised in the profit and loss account. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.
The investment properties were valued as at 30 September 2024 at a fair value of £280,000. The valuations were undertaken by the directors.
2.4. Taxation
Taxation for the year comprises current and deferred tax.  Tax is recognised in the Trading Profit and Loss Account, 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 assesments 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.
2.5. Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.  Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
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4. Investment Property
2024
£
Fair Value
As at 1 October 2023 190,897
Revaluations 89,103
As at 30 September 2024 280,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 190,897 190,897
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 1,475 1,595
Other creditors - 106,630
Accruals and deferred income 1,675 1,596
Directors' loan accounts 191,899 90,743
195,049 200,564
6. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
7. Reserves
Revaluation Reserve
£
Surplus on revaluation 89,103
Transfer to profit and loss (22,276 )
As at 30 September 2024 66,827
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