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REGISTERED NUMBER: 08819508 (England and Wales)















REPORT OF THE DIRECTORS AND

UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 202

FOR

MIDAS LAND LIMITED

MIDAS LAND LIMITED (REGISTERED NUMBER: 08819508)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
for the Year Ended 31 December 2024










Page

Company Information 1

Report of the Directors 2

Consolidated Income Statement 3

Consolidated Balance Sheet 4

Company Balance Sheet 6

Notes to the Consolidated Financial Statements 8


MIDAS LAND LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2024







DIRECTORS: Y A Bux
P L Waring





REGISTERED OFFICE: Barton Hall
Garstang Road
Broughton
Preston
Lancashire
PR3 5BT





REGISTERED NUMBER: 08819508 (England and Wales)





ACCOUNTANTS: James Todd & Co
Greenbank House
141 Adelphi Street
Preston
Lancashire
PR1 7BH

MIDAS LAND LIMITED (REGISTERED NUMBER: 08819508)

REPORT OF THE DIRECTORS
for the Year Ended 31 December 2024


The directors present their report with the financial statements of the company and the group for the year ended 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of a property holding company.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

Y A Bux
P L Waring

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Y A Bux - Director


9 May 2025

MIDAS LAND LIMITED (REGISTERED NUMBER: 08819508)

CONSOLIDATED
INCOME STATEMENT
for the Year Ended 31 December 2024

31.12.24 31.12.23
Notes £    £   

TURNOVER 200,000 4,094,854

Cost of sales 290,247 4,003,029
GROSS (LOSS)/PROFIT (90,247 ) 91,825

Administrative expenses (45,135 ) 50,556
(45,112 ) 41,269

Other operating income 43,060 55,685
OPERATING (LOSS)/PROFIT 4 (2,052 ) 96,954


Interest payable and similar expenses 692 1,100
(LOSS)/PROFIT BEFORE TAXATION (2,744 ) 95,854

Tax on (loss)/profit 850 21,248
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(3,594

)

74,606

(Loss)/profit attributable to:
Owners of the parent (3,594 ) 74,606

MIDAS LAND LIMITED (REGISTERED NUMBER: 08819508)

CONSOLIDATED BALANCE SHEET
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 6 4,000 5,325
Investments 7 - -
4,000 5,325

CURRENT ASSETS
Stocks 2,683,792 2,918,777
Debtors 8 999,185 1,289,392
Cash at bank and in hand 21,626 223,813
3,704,603 4,431,982
CREDITORS
Amounts falling due within one year 9 1,599,915 2,310,656
NET CURRENT ASSETS 2,104,688 2,121,326
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,108,688

2,126,651

CREDITORS
Amounts falling due after more than one
year

10

(17,287

)

(31,642

)

PROVISIONS FOR LIABILITIES (997 ) (1,012 )
NET ASSETS 2,090,404 2,093,997

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,090,402 2,093,995
SHAREHOLDERS' FUNDS 2,090,404 2,093,997

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

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

The directors acknowledge their responsibilities for:
(a) ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

MIDAS LAND LIMITED (REGISTERED NUMBER: 08819508)

CONSOLIDATED BALANCE SHEET - continued
31 December 2024


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 9 May 2025 and were signed on its behalf by:





Y A Bux - Director


MIDAS LAND LIMITED (REGISTERED NUMBER: 08819508)

COMPANY BALANCE SHEET
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 6 4,000 5,325
Investments 7 4 4
4,004 5,329

CURRENT ASSETS
Debtors 8 4,027,545 4,348,992
Cash at bank 683 23,231
4,028,228 4,372,223
CREDITORS
Amounts falling due within one year 9 1,553,298 1,945,627
NET CURRENT ASSETS 2,474,930 2,426,596
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,478,934

2,431,925

CREDITORS
Amounts falling due after more than one
year

10

(17,287

)

(31,642

)

PROVISIONS FOR LIABILITIES (997 ) (1,012 )
NET ASSETS 2,460,650 2,399,271

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,460,648 2,399,269
SHAREHOLDERS' FUNDS 2,460,650 2,399,271

Company's profit for the financial year 61,379 1,122,581

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

MIDAS LAND LIMITED (REGISTERED NUMBER: 08819508)

COMPANY BALANCE SHEET - continued
31 December 2024


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 9 May 2025 and were signed on its behalf by:





Y A Bux - Director


MIDAS LAND LIMITED (REGISTERED NUMBER: 08819508)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
for the Year Ended 31 December 2024


1. STATUTORY INFORMATION

Midas Land 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 General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

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.
Plant and machinery etc - 25% on reducing balance and 20% on cost

Investment property
The property held by the group is classed as an investment property. No depreciation has been charged and freehold property is stated at open market value at the balance sheet date. Gains or losses arising from the changes in the fair value of the investment property are included in the Income Statement for the period in which they arise.

Stocks and work-in-progress
Stocks are valued at the lower of cost and net realiseable value, after making due allowance for obsolete and slow moving items. Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and applicable variable selling expenses. Work-in-progress in relation to a construction project, is valued at costs incurred to date plus recognised profits less recognised losses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.


MIDAS LAND LIMITED (REGISTERED NUMBER: 08819508)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024


2. ACCOUNTING POLICIES - continued
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.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include investments, stock and work in progress, debtors, and bank balances, are initially measured at transaction price, and are subsequently carried at cost. Basic financial liabilities, which include creditors, loans and borrowings, are initially recognised at transaction price and are subsequently carried at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging:

31.12.24 31.12.23
£    £   
Depreciation - owned assets 1,325 1,050

5. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


MIDAS LAND LIMITED (REGISTERED NUMBER: 08819508)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024


6. TANGIBLE FIXED ASSETS

Group
Plant and
machinery
etc
£   
COST
At 1 January 2024
and 31 December 2024 57,860
DEPRECIATION
At 1 January 2024 52,535
Charge for year 1,325
At 31 December 2024 53,860
NET BOOK VALUE
At 31 December 2024 4,000
At 31 December 2023 5,325

Company
Plant and
machinery
etc
£   
COST
At 1 January 2024
and 31 December 2024 26,850
DEPRECIATION
At 1 January 2024 21,525
Charge for year 1,325
At 31 December 2024 22,850
NET BOOK VALUE
At 31 December 2024 4,000
At 31 December 2023 5,325

MIDAS LAND LIMITED (REGISTERED NUMBER: 08819508)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024


7. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 January 2024
and 31 December 2024 4
NET BOOK VALUE
At 31 December 2024 4
At 31 December 2023 4

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

ML Retail Development Limited
Registered office: Barton Hall, Garstang Road, Broughton, Preston, PR3 5BT.
Nature of business: Property development
%
Class of shares: holding
Ordinary 100.00
31.12.24 31.12.23
£    £   
Aggregate capital and reserves (285,333 ) (285,656 )
Profit/(loss) for the year 323 (3 )

Aurum Homes Limited
Registered office: Barton Hall, Garstang Road, Broughton, Preston, PR3 5BT.
Nature of business: Property development
%
Class of shares: holding
Ordinary 100.00
31.12.24 31.12.23
£    £   
Aggregate capital and reserves 52,551 56,388
Profit for the year 11,163 20,472

The Hub (NW) Limited
Registered office: Barton Hall, Garstang Road, Broughton, Preston, PR3 5BT.
Nature of business: property development
%
Class of shares: holding
Ordinary 100.00
31.12.24 31.12.23
£    £   
Aggregate capital and reserves (47,940 ) (109,455 )
Profit for the year 61,515 21,645

MIDAS LAND LIMITED (REGISTERED NUMBER: 08819508)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024


7. FIXED ASSET INVESTMENTS - continued

Stoneygate Living Limited
Registered office: Barton Hall, Garstang Road, Broughton, Preston. PR3 5BT
Nature of business: property development
%
Class of shares: holding
Ordinary 100.00
31.12.24 31.12.23
£    £   
Aggregate capital and reserves (89,520 ) 33,454
(Loss)/profit for the year (122,974 ) 32,413


Investments in subsidiary undertakings are recognised at cost.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
£    £    £    £   
Amounts owed by group undertakings - - 3,187,450 3,463,100
Amounts owed by participating interests 150,000 - - -
Other debtors 849,185 1,289,392 840,095 885,892
999,185 1,289,392 4,027,545 4,348,992

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
£    £    £    £   
Bank loans and overdrafts 5,842 5,842 5,842 5,842
Trade creditors 67,397 461,824 22,456 12,167
Amounts owed to group undertakings - - - 420,400
Taxation and social security 1,676 285,991 - 219
Other creditors 1,525,000 1,556,999 1,525,000 1,506,999
1,599,915 2,310,656 1,553,298 1,945,627

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
£    £    £    £   
Bank loans 17,287 31,642 17,287 31,642

MIDAS LAND LIMITED (REGISTERED NUMBER: 08819508)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024


10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

Amounts falling due in more than five years:

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
£    £    £    £   
Repayable by instalments
Bank loans more 5 yr by instal - 8,275 - 8,275

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose related party transactions with wholly owned subsidiaries within the group.
At the year end Midas Land Limited owed £762,500 (2023: £753,000) to Bux & Co Limited, a company controlled by one of its directors, Mr Y A Bux and his wife.

At the year end Midas Land Limited owed £762,500 (2023: £753,000) to Waring & Co Limited, a company controlled by one of its directors, Mr P L Waring and his sons.

During the year The Hub (NW) Limited sold a property for £150,000 to Bux & Co Limited, a company controlled by one of its directors, Mr Y A Bux and his wife.



12. ULTIMATE CONTROLLING PARTY

The directors consider that there is no ultimate controlling party, as the company is owned equally between companies owned by each of the directors.