Registered number
11082602
MIZRAHI ONE LIMITED
Filleted Accounts
31 December 2024
MIZRAHI ONE LIMITED
Registered number: 11082602
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Investment Properties 3 4,480,000 5,340,000
Current assets
Debtors 4 (1,052) (6,000)
Cash at bank and in hand 288,663 162,766
287,611 156,766
Creditors: amounts falling due within one year 5 (289,329) (4,276,073)
Net Current Liabilities (1,718) (4,119,307)
Total assets less current liabilities 4,478,282 1,220,693
Creditors: amounts falling due after more than one year 6 (4,000,000) -
Net Assets 478,282 1,220,693
Capital and reserves
Called up share capital 2,000,000 2,000,000
Fair value reserve 8 (3,557,435) (2,697,435)
Profit and loss account 2,035,717 1,918,128
Shareholders' funds 478,282 1,220,693
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Y L Mizrahi Bardavid
Director
Approved by the board on 23 May 2025
MIZRAHI ONE LIMITED
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

The accounts are prepared on a going concern basis, and the company has net current liablities at the balance sheet date. The directors having reviewed the required cash flow forecast for the next 12 months and the impact of the loan facilities falling due for repayment. The parent company and the ultimate benefical owner have agreed to continue to support the company as loan facilities fall due for repayment.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from rental of investment properties and ancillary property cost recharges.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Investment Properties
Investment Properties
£
Fair Value
At 1 January 2024 5,340,000
Fair value loss on investment properties (860,000)
At 31 December 2024 4,480,000
Depreciation
At 31 December 2024 -
Net book value
At 31 December 2024 4,480,000
At 31 December 2023 5,340,000
Freehold land and buildings: 2024 2023
£ £
Historical cost 8,037,435 8,037,435
Cumulative depreciation based on historical cost - -
8,037,435 8,037,435
The investment properties were valued at 31 December 2024 and 31 December 2023 by the directors. The valuations were prepared by considering the aggregate of the net rents receivable from the properties and where relevant associated costs. A yield which reflects the specific risks inherent in the net cash flows is then applied to arrive at the property valuations.
4 Debtors 2024 2023
£ £
Trade debtors (10,050) (6,000)
Other debtors 8,998 -
(1,052) (6,000)
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans (secured) - 2,646,393
Taxation and social security costs 54,958 34,470
Other creditors 234,371 1,595,210
289,329 4,276,073
Included in other creditors is accrued interest due to a director of £Nil (2023: £73,836) and to parent
company of £126,192 (2023: £Nil).
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 4,000,000 -
4,000,000 -
Included in other creditors is a loan from parent company of £4,000,000 (2023: £Nil) where interest is
charged at a rate 7% per annum as at 31 December 2024. The loan is repayable in June 2029.
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans - 2,646,393
The bank lender had a first charge over the property assets and a debenture over the Company as part its loan security arrangements. The loan carried interest at a rate of 2.1% above UK Base Rate. The loan was repaid in June 2024.
8 Fair Value Reserve 2024 2023
£ £
At 1 January 2024 (2,697,435) (1,737,435)
Fair value loss on investment properties (860,000) (960,000)
At 31 December 2024 (3,557,435) (2,697,435)
9 Controlling party
At the balance sheet date, the parent company is MIM (Mizrahi Investments Malta) Limited, a company incorporated in Malta. Its registered office is 93 Mill Street, Zone 5, Central Business District, Qormi, Malta. In the opinion of the directors, the ultimate controlling party of the company is Y L Mizrahi Bardavid by virtue of his majority shareholding in the parent undertaking.
10 Other information
Mizrahi One Limited is a private company limited by shares and incorporated in England. Its registered office is Building 3, North London Business Park, Oakleigh Road South, London N11 1GN.
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