Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-312025-05-29false2023-06-01falseProperty investment33falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13426573 2023-06-01 2024-05-31 13426573 2022-06-01 2023-05-31 13426573 2024-05-31 13426573 2023-05-31 13426573 c:Director3 2023-06-01 2024-05-31 13426573 d:FreeholdInvestmentProperty 2024-05-31 13426573 d:FreeholdInvestmentProperty 2023-05-31 13426573 d:CurrentFinancialInstruments 2024-05-31 13426573 d:CurrentFinancialInstruments 2023-05-31 13426573 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 13426573 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 13426573 d:ShareCapital 2024-05-31 13426573 d:ShareCapital 2023-05-31 13426573 d:OtherMiscellaneousReserve 2023-06-01 2024-05-31 13426573 d:OtherMiscellaneousReserve 2024-05-31 13426573 d:OtherMiscellaneousReserve 2023-05-31 13426573 d:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 13426573 d:RetainedEarningsAccumulatedLosses 2024-05-31 13426573 d:RetainedEarningsAccumulatedLosses 2023-05-31 13426573 d:OtherDeferredTax 2024-05-31 13426573 d:OtherDeferredTax 2023-05-31 13426573 c:FRS102 2023-06-01 2024-05-31 13426573 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 13426573 c:FullAccounts 2023-06-01 2024-05-31 13426573 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 13426573 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 13426573










MERRYMOUNT PROPERTY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MAY 2024

 
MERRYMOUNT PROPERTY LIMITED
REGISTERED NUMBER: 13426573

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
346,185
346,185

  
346,185
346,185

Current assets
  

Debtors: amounts falling due within one year
 5 
2,526
877

Cash at bank and in hand
 6 
7,627
11,324

  
10,153
12,201

Creditors: amounts falling due within one year
 7 
(334,502)
(332,748)

Net current liabilities
  
 
 
(324,349)
 
 
(320,547)

Total assets less current liabilities
  
21,836
25,638

Provisions for liabilities
  

Deferred tax
 8 
(7,481)
(7,481)

  
 
 
(7,481)
 
 
(7,481)

Net assets
  
14,355
18,157


Capital and reserves
  

Called up share capital 
  
50
50

Other reserves
 9 
22,444
22,444

Profit and loss account
 9 
(8,139)
(4,337)

  
14,355
18,157


Page 1

 
MERRYMOUNT PROPERTY LIMITED
REGISTERED NUMBER: 13426573
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 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 period 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 profit and loss account 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: 




Tobias Stone
Director

Date: 29 May 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
MERRYMOUNT PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

1.


General information

Merrymount Property Limited is a private company limited by shares, incorporated in England and Wales. The address of the registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

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

Turnover

Revenue represents rents and service charges receivable recognised in the period in which the services are provided in accordance with the rental agreement. Rent receivable is invoiced monthly at the beginning of the month for which the rental income relates. 

 
2.3

Current and deferred taxation

The tax expense for the period 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.


 
2.4

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, 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 profit or loss.

Page 3

 
MERRYMOUNT PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.6

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.

 
2.7

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.


3.


Employees

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


4.


Investment property


Freehold investment property

£



Valuation


At 1 June 2023
346,185



At 31 May 2024
346,185

The 2024 valuations were made by the directors, on an open market value for existing use basis.




Page 4

 
MERRYMOUNT PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
2,526
827

Called up share capital not paid
-
50

2,526
877



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
7,627
11,324



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
258

Other creditors
331,998
330,990

Accruals and deferred income
2,504
1,500

334,502
332,748



8.


Deferred taxation




2024


£






Charged to profit or loss
(7,481)



At end of year
(7,481)

Page 5

 
MERRYMOUNT PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
 
8.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Unrealised gain on property
(7,481)
(7,481)

(7,481)
(7,481)


9.


Reserves

Other reserves

The other reserves comprise the balance of revaluations relating to the investment property net of deferred tax on the gain.

Profit and loss account

The profit and loss account comprise the balance of profits accumulated over the life of the company.


10.


Related party transactions

Included in other creditors due within one year are amounts owed to the directors and shareholders of £332,049 (2023: £330,990).

 
Page 6