Caseware UK (AP4) 2024.0.164 2024.0.164 2025-05-082025-05-0832024-01-01falseproperty investment.4truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08182308 2024-01-01 2024-12-31 08182308 2023-01-01 2023-12-31 08182308 2024-12-31 08182308 2023-12-31 08182308 c:Director3 2024-01-01 2024-12-31 08182308 d:FreeholdInvestmentProperty 2024-12-31 08182308 d:FreeholdInvestmentProperty 2023-12-31 08182308 d:FreeholdInvestmentProperty 2 2024-01-01 2024-12-31 08182308 d:CurrentFinancialInstruments 2024-12-31 08182308 d:CurrentFinancialInstruments 2023-12-31 08182308 d:Non-currentFinancialInstruments 2024-12-31 08182308 d:Non-currentFinancialInstruments 2023-12-31 08182308 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 08182308 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08182308 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 08182308 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 08182308 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-12-31 08182308 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 08182308 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-12-31 08182308 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 08182308 d:ShareCapital 2024-12-31 08182308 d:ShareCapital 2023-12-31 08182308 d:InvestmentPropertiesRevaluationReserve 2024-12-31 08182308 d:InvestmentPropertiesRevaluationReserve 2023-12-31 08182308 d:RetainedEarningsAccumulatedLosses 2024-12-31 08182308 d:RetainedEarningsAccumulatedLosses 2023-12-31 08182308 c:FRS102 2024-01-01 2024-12-31 08182308 c:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 08182308 c:FullAccounts 2024-01-01 2024-12-31 08182308 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08182308 2 2024-01-01 2024-12-31 08182308 f:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 08182308










Mumford Investments Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 December 2024

 
Mumford Investments Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Mumford Investments Limited for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mumford Investments Limited for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Mumford Investments Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Mumford Investments Limited and state those matters that we have agreed to state to the Board of Directors of Mumford Investments Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mumford Investments Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Mumford Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mumford Investments Limited. You consider that Mumford Investments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Mumford Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
8 May 2025
Page 1

 
Mumford Investments Limited
Registered number: 08182308

Balance sheet
As at 31 December 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 5 
8,529,503
8,623,570

  
8,529,503
8,623,570

Current assets
  

Debtors: amounts falling due within one year
 6 
5,747
8,338

Cash at bank and in hand
 7 
22,142
20,932

  
27,889
29,270

Creditors: amounts falling due within one year
 8 
(4,698,895)
(3,973,112)

Net current liabilities
  
 
 
(4,671,006)
 
 
(3,943,842)

Total assets less current liabilities
  
3,858,497
4,679,728

Creditors: amounts falling due after more than one year
 9 
(699,420)
(1,532,340)

Provisions for liabilities
  

Deferred tax
  
(787,756)
(811,273)

  
 
 
(787,756)
 
 
(811,273)

Net assets
  
2,371,321
2,336,115


Capital and reserves
  

Called up share capital 
  
1
1

Fair value reserve
  
1,881,748
1,952,298

Profit and loss account
  
489,572
383,816

  
2,371,321
2,336,115


Page 2

 
Mumford Investments Limited
Registered number: 08182308

Balance sheet (continued)
As at 31 December 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr P Calland
Director

Date: 8 May 2025

The notes on pages 4 to 9 form part of these financial statements.
Page 3

 
Mumford Investments Limited
 

 
Notes to the financial statements
For the Year Ended 31 December 2024

1.


General information

The Company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
4a Southview Road
Southwick
West Sussex
BN42 4TU

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue represents the value of rental income and all other associated income receivable by the Company.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
Mumford Investments Limited
 

 
Notes to the financial statements
For the Year Ended 31 December 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.6

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by a qualified internal valuer. The valuer uses observable market prices, 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 the Statement of Comprehensive Income.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
Mumford Investments Limited
 

 
Notes to the financial statements
For the Year Ended 31 December 2024

2.Accounting policies (continued)

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Financial instruments

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 6

 
Mumford Investments Limited
 

 
Notes to the financial statements
For the Year Ended 31 December 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Provision has been made in the financial statements for deferred tax amounting to £787,756 at the reporting date. This provision is based upon estimates of the availability of future taxable profits, the timing of the reversal of timing differences upon which the provision is based and the tax rates that will be in force at that time together with an assessment of the impact of future tax planning strategies. 


4.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 4).


5.


Investment property


Freehold investment property

£



Valuation


At 1 January 2024
8,623,570


Surplus on revaluation
(94,067)



At 31 December 2024
8,529,503

The investment properties were revalued at 31 December 2024 by the director Mr P Calland MRICS, who is a recognised and relevant professional valuer with recent experience in the location and category of the investment property being valued. The basis of this valuation was open market basis subject to existing leases. There has been no valuation of investment property by an independent valuer.





6.


Debtors

2024
2023
£
£


Trade debtors
1,741
3,843

Other debtors
681
1,409

Prepayments and accrued income
3,325
3,086

5,747
8,338



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
22,142
20,932

22,142
20,932


Page 7

 
Mumford Investments Limited
 

 
Notes to the financial statements
For the Year Ended 31 December 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
815,805
66,363

Trade creditors
1,443
1,070

Amounts owed to group undertakings
3,822,418
3,843,688

Corporation tax
35,198
36,182

Other creditors
170
543

Accruals and deferred income
23,861
25,266

4,698,895
3,973,112



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
699,420
1,532,340

699,420
1,532,340


The following liabilities were secured:

2024
2023
£
£



Bank loans
1,515,225
1,598,703

1,515,225
1,598,703

Details of security provided:

Bank loans are denominated in sterling (£) with a variable rate of interest.  These loans are secured by fixed and floating charges over properties held.

Page 8

 
Mumford Investments Limited
 

 
Notes to the financial statements
For the Year Ended 31 December 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
815,805
66,363

Amounts falling due 1-5 years

Bank loans
326,018
1,039,621


Amounts falling due after more than 5 years

Bank loans
373,402
492,719

1,515,225
1,598,703



11.


Related party transactions

The Company has taken advantage of the exemption in FRS 102 paragraph 33.1A from disclosing transactions with other members of the group.


12.


Controlling party

The Company's immediate and ultimate parent undertaking is S.D. Holdings Limited, incorporated in England and Wales. The registered office address of S.D. Holdings Limited is the same as that of Mumford Investments Limited.


Page 9