Company Registration No. 10830193 (England and Wales)
Mammoth Investment Properties Limited
Unaudited accounts
for the year ended 30 June 2024
Mammoth Investment Properties Limited
Unaudited accounts
Contents
Mammoth Investment Properties Limited
Company Information
for the year ended 30 June 2024
Directors
Julian C Ronnie
Lynda F Chadwick-Ronnie
Company Number
10830193 (England and Wales)
Registered Office
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ
Accountants
Raedan
7 Henrietta Street
London
WC2E 8PS
Mammoth Investment Properties Limited
Statement of financial position
as at 30 June 2024
Tangible assets
2,454,261
2,454,667
Cash at bank and in hand
4,011
4,846
Creditors: amounts falling due within one year
(222,358)
(181,355)
Net current liabilities
(216,487)
(131,940)
Total assets less current liabilities
2,237,774
2,322,727
Creditors: amounts falling due after more than one year
(1,106,222)
(1,178,929)
Net assets
1,131,552
1,143,798
Called up share capital
100
100
Share premium
1,109,450
1,109,450
Profit and loss account
22,002
34,248
Shareholders' funds
1,131,552
1,143,798
For the year ending 30 June 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2025 and were signed on its behalf by
Julian C Ronnie
Director
Company Registration No. 10830193
Mammoth Investment Properties Limited
Notes to the Accounts
for the year ended 30 June 2024
Mammoth Investment Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 10830193. The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets 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).
The accounts are presented in £ sterling.
Turnover represents gross rental income received by the company in the year measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes if applicable.
Tangible fixed assets and depreciation
Tangible assets are included at cost or valuation less accumulated depreciation and impairment losses. Depreciation has been provided on tangible fixed assets at the following rates in order to write off the assets, less estimated residual value, over their estimated useful lives:
Land & buildings
Not depreciated
Fixtures & fittings
25% straight line method
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is recognised on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws except for revalued Land and Investment Property where the tax rate that applies to the sale of the asset is used. Deferred tax assets and liabilities are not discounted.
Mammoth Investment Properties Limited
Notes to the Accounts
for the year ended 30 June 2024
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 July 2023
2,454,000
2,027
2,456,027
At 30 June 2024
2,454,000
2,027
2,456,027
At 1 July 2023
-
1,360
1,360
Charge for the year
-
406
406
At 30 June 2024
-
1,766
1,766
At 30 June 2024
2,454,000
261
2,454,261
At 30 June 2023
2,454,000
667
2,454,667
The last valuation of Land and Buildings was carried out in January 2023. The valuer was an independent agent using the normal residential letting criteria methods to determine market value. The directors are of the opinion, from all the relevant information available to them, that the valuation shown in the accounts remains a fair and reasonable valuation for the purpose of these accounts.
Investment Property is included at fair and reasonable market value. Gains are recognised in the income statement and Deferred Taxation is provided on these gains at the rate expected to apply when the property is sold.
Amounts falling due within one year
Accrued income and prepayments
1,860
4,530
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
-
222
Other creditors
49,524
696
Loans from directors
171,234
178,837
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
1,106,222
1,178,929
The Creditors falling due after more than one year relate to mortgages secured on each of the relevant Investment Properties.
Mammoth Investment Properties Limited
Notes to the Accounts
for the year ended 30 June 2024
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Transactions with related parties
Included within Other Debtors is an amount due from Mammoth Music Limited of £0 (2023 £39,402).
Included within Other Creditors is an amount due to directors of £171,234 (2023 £178,837) and an amount due to Mammoth Music Limited of £48,287 (2023 £0).
11
Average number of employees
During the year the average number of employees was 0 (2023: 0).