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REGISTERED NUMBER: 11087663 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2025

for

Massen Properties Limited

Massen Properties Limited (Registered number: 11087663)

Contents of the Financial Statements
for the Year Ended 28 February 2025










Page

Balance Sheet 1

Notes to the Financial Statements 3


Massen Properties Limited (Registered number: 11087663)

Balance Sheet
28 February 2025

28.2.25 29.2.24
Notes £ £
Fixed assets
Investment property 5 620,000 605,000

Current assets
Debtors 6 153 159
Cash at bank and in hand 72,113 65,901
72,266 66,060
Creditors
Amounts falling due within one year 7 (447,638 ) (447,298 )
Net current liabilities (375,372 ) (381,238 )
Total assets less current liabilities 244,628 223,762

Provisions for liabilities (45,875 ) (42,125 )
Net assets 198,753 181,637

Capital and reserves
Called up share capital 8 100 100
Retained earnings 9 198,653 181,537
Shareholders' funds 198,753 181,637

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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.

Massen Properties Limited (Registered number: 11087663)

Balance Sheet - continued
28 February 2025


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2025 and were signed on its behalf by:




Mr R M Massen - Director



Mr S J Massen - Director


Massen Properties Limited (Registered number: 11087663)

Notes to the Financial Statements
for the Year Ended 28 February 2025


1. Statutory information

Massen Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11087663

Registered office: 15 Senters Road
Dersingham
Kings Lynn
Norfolk
PE31 6LJ

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


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of investment properties measured at fair value through Profit and Loss.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant effect upon the figures reported in the financial statements are in respect of the directors' year-end valuation of the investment properties, as described below.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents rents receivable and is recognised monthly when due under the terms of the relevant leases.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Massen Properties Limited (Registered number: 11087663)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025


3. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Massen Properties Limited (Registered number: 11087663)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025


3. 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.

4. Employees and directors

The average number of employees during the year was 2 (2024 - 2 ) .

5. Investment property
Total
£
Fair value
At 1 March 2024 605,000
Revaluations 15,000
At 28 February 2025 620,000
Net book value
At 28 February 2025 620,000
At 29 February 2024 605,000

The freehold investment properties were revalued by the directors at the year end on the basis of rental income, as appropriate. Changes in the fair value of investment properties are treated as other operating income and recognised in Profit and Loss for the year.

6. Debtors: amounts falling due within one year
28.2.25 29.2.24
£ £
Other debtors 153 159

7. Creditors: amounts falling due within one year
28.2.25 29.2.24
£ £
Taxation and social security 4,020 3,730
Other creditors 443,618 443,568
447,638 447,298

Massen Properties Limited (Registered number: 11087663)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025


8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.25 29.2.24
value: £ £
100 Ordinary £1 100 100

9. Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses, including fair value adjustments arising in respect of the company's investment properties. As at the balance sheet date, the non-distributable element of the retained Profit and Loss Account amounted to £137,625 (2024: £126,375).

10. Related party disclosures

As at 28 February 2025, Massen Properties Limited owed £440,500 (2024: £440,500) to a company controlled jointly by the directors.