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Registration number: 08258091

Meltor Properties Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Meltor Properties Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Meltor Properties Limited

(Registration number: 08258091)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

18,026

21,514

Current assets

 

Stocks

5

394,379

305,950

Debtors

6

290,727

243,856

Cash at bank and in hand

 

75,441

222,666

 

760,547

772,472

Creditors: Amounts falling due within one year

7

(839,138)

(828,993)

Net current liabilities

 

(78,591)

(56,521)

Total assets less current liabilities

 

(60,565)

(35,007)

Provisions for liabilities

-

(3,488)

Net liabilities

 

(60,565)

(38,495)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(60,665)

(38,595)

Shareholders' deficit

 

(60,565)

(38,495)

 

Meltor Properties Limited

(Registration number: 08258091)
Balance Sheet as at 30 September 2024

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 May 2025 and signed on its behalf by:
 

Mr A De Sena
Director

   
     
 

Meltor Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
Winchester House
Deane Gate Avenue
Taunton
Somerset
TA1 2UH
UK

These financial statements were authorised for issue by the Board on 22 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in Sterling, and round to the the nearest £.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Going concern

The directors have confirmed that they will continue to provide financial support to the compant as required. On this basis, the financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Meltor Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% reducing balance

Motor vehicles

25% reducing balance

Plant and machinery

25% reducing balance

Stocks

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Meltor Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 2 (2023 - 2).

 

Meltor Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

1,107

3,431

45,212

49,750

Additions

1,320

969

-

2,289

At 30 September 2024

2,427

4,400

45,212

52,039

Depreciation

At 1 October 2023

485

3,355

24,396

28,236

Charge for the year

335

238

5,204

5,777

At 30 September 2024

820

3,593

29,600

34,013

Carrying amount

At 30 September 2024

1,607

807

15,612

18,026

At 30 September 2023

622

76

20,816

21,514

5

Stocks

2024
£

2023
£

Work in progress

394,379

305,950

6

Debtors

Note

2024
£

2023
£

Amounts owed by related parties

8

289,087

233,101

Other debtors

 

793

3,664

Prepayments

 

847

7,091

 

290,727

243,856

 

Meltor Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Creditors

Due within one year

2024
£

2023
£

Trade creditors

11,158

3,109

Social security and other taxes

-

674

Other creditors

820,210

820,210

Accruals

7,770

5,000

839,138

828,993

8

Related party transactions

Loans to related parties

2024

Parent
£

Total
£

At start of period

233,101

233,101

Advanced

56,000

56,000

Repaid

(14)

(14)

At end of period

289,087

289,087

2023

Parent
£

Key management
£

Total
£

Advanced

233,101

7,000

240,101

Repaid

-

(7,000)

(7,000)

At end of period

233,101

-

233,101

Terms of loans to related parties

Loans from related parties

2024

Other related parties
£

Total
£

At start of period

820,210

820,210

At end of period

820,210

820,210

2023

Parent
£

Other related parties
£

Total
£

At start of period

11,049

820,210

831,259

Repaid

(11,049)

-

(11,049)

At end of period

-

820,210

820,210

 

Meltor Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Terms of loans from related parties

During the year, the Directors, Mr A and Mrs H De Sena had a loan with the company. The loan is interest free and repayable on demand. At the balance sheet date, the amount due from the Directors was £nil (2023: £nil).