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REGISTERED NUMBER: 02615522 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2024

FOR

MEALBANK PROPERTIES LIMITED

MEALBANK PROPERTIES LIMITED (REGISTERED NUMBER: 02615522)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MEALBANK PROPERTIES LIMITED

COMPANY INFORMATION
for the Year Ended 31st July 2024







DIRECTORS: Mr L.W. Procter
Mr P.L. Procter
Mr P.F. Stanton
Mr S.N. Stanton





SECRETARY: Mr P.F. Stanton





REGISTERED OFFICE: Lake District Business Park
Mint Bridge Road
Kendal
Cumbria
LA9 6NH





REGISTERED NUMBER: 02615522 (England and Wales)





ACCOUNTANTS: DCB Accountants Limited
Compton House
104 Scotland Road
Penrith
Cumbria
CA11 7NR

MEALBANK PROPERTIES LIMITED (REGISTERED NUMBER: 02615522)

BALANCE SHEET
31st July 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 7,801,912 8,055,437

CURRENT ASSETS
Debtors 5 154,374 139,937
Cash at bank 13,231 -
167,605 139,937
CREDITORS
Amounts falling due within one year 6 3,146,481 3,511,195
NET CURRENT LIABILITIES (2,978,876 ) (3,371,258 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,823,036

4,684,179

CREDITORS
Amounts falling due after more than one
year

7

(2,756,203

)

(3,017,155

)

PROVISIONS FOR LIABILITIES 8 (72,726 ) (89,955 )
NET ASSETS 1,994,107 1,577,069

CAPITAL AND RESERVES
Called up share capital 9 900 900
Retained earnings 10 1,993,207 1,576,169
SHAREHOLDERS' FUNDS 1,994,107 1,577,069

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

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

The directors acknowledge their 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.

MEALBANK PROPERTIES LIMITED (REGISTERED NUMBER: 02615522)

BALANCE SHEET - continued
31st July 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 Board of Directors and authorised for issue on 17th April 2025 and were signed on its behalf by:




Mr L.W. Procter - Director



Mr P.F. Stanton - Director


MEALBANK PROPERTIES LIMITED (REGISTERED NUMBER: 02615522)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st July 2024

1. STATUTORY INFORMATION

Mealbank Properties 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.

Turnover
Turnover is measured at the fair value of the consideration 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.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance

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.

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 assessments 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.

3. EMPLOYEES AND DIRECTORS

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

MEALBANK PROPERTIES LIMITED (REGISTERED NUMBER: 02615522)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st July 2024

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1st August 2023 8,946,977 4,420,003 13,366,980
Additions - 30,992 30,992
At 31st July 2024 8,946,977 4,450,995 13,397,972
DEPRECIATION
At 1st August 2023 1,282,855 4,028,688 5,311,543
Charge for year 178,940 105,577 284,517
At 31st July 2024 1,461,795 4,134,265 5,596,060
NET BOOK VALUE
At 31st July 2024 7,485,182 316,730 7,801,912
At 31st July 2023 7,664,122 391,315 8,055,437

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 154,374 139,937

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 249,387 198,484
Trade creditors 86,229 103,667
Loan - Mealbank Partnership 2,344,204 2,842,804
Tax 296,424 197,869
VAT 30,375 9,022
Accrued expenses 139,862 159,349
3,146,481 3,511,195

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Directors' loan account 798,038 798,038
Bank loans 1,502,612 1,763,564
Related company loans 455,553 455,553
2,756,203 3,017,155

The Directors loan account and amounts owing to related companies are not expected to be repaid for the foreseeable future, as referred to in note 15 to these financial statements.

MEALBANK PROPERTIES LIMITED (REGISTERED NUMBER: 02615522)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st July 2024

8. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£    £   
Deferred taxation 72,726 89,955

Deferred
tax
£   
Balance at 1st August 2023 89,955
Utilised during year (17,229 )
Balance at 31st July 2024 72,726

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
900 Ordinary £1 900 900

10. RESERVES
Retained
earnings
£   

At 1st August 2023 1,576,169
Profit for the year 717,038
Dividends (300,000 )
At 31st July 2024 1,993,207

11. RELATED PARTY DISCLOSURES

Both Mr L.W. Procter and Mr P.L. Procter are Directors and also major shareholders in Mealbank Estates Limited, which has made a loan to the Company. The loan outstanding at 31 July 2024 was £455,553 ( 2023 - £455,553) upon which interest is being paid at 3% over the Clearing Bank Base Rate in force, subject to a minimum rate of 9% per annum. Repayment of this loan is not expected to be made for the foreseeable future.