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REGISTERED NUMBER: 09447647 (England and Wales)















Miscombe (London) Limited

Financial Statements for the Year Ended 30th September 2024






Miscombe (London) Limited (Registered number: 09447647)

Contents of the Financial Statements
for the Year Ended 30th September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Miscombe (London) Limited

Company Information
for the Year Ended 30th September 2024







DIRECTOR: R A Barnett





REGISTERED OFFICE: 1 Jacobs Yard
North Lane
Buriton
Petersfield
Hampshire
GU31 5RR





REGISTERED NUMBER: 09447647 (England and Wales)





ACCOUNTANTS: Sheen Stickland
Chartered Accountants
2 Oriel Court
Omega Park
Alton
Hampshire
GU34 2YT

Miscombe (London) Limited (Registered number: 09447647)

Balance Sheet
30th September 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,962 2,543
Investment property 5 4,219,000 4,219,000
4,222,962 4,221,543

CURRENT ASSETS
Debtors 6 18,210 96,131
Cash at bank 33,145 129,516
51,355 225,647
CREDITORS
Amounts falling due within one year 7 (134,502 ) (267,835 )
NET CURRENT LIABILITIES (83,147 ) (42,188 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,139,815

4,179,355

CREDITORS
Amounts falling due after more than one
year

8

(570,000

)

(660,000

)

PROVISIONS FOR LIABILITIES (86,740 ) (86,348 )
NET ASSETS 3,483,075 3,433,007

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 10 3,483,074 3,433,006
SHAREHOLDERS' FUNDS 3,483,075 3,433,007

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Miscombe (London) Limited (Registered number: 09447647)

Balance Sheet - continued
30th September 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2nd June 2025 and were signed by:





R A Barnett - Director


Miscombe (London) Limited (Registered number: 09447647)

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


1. STATEMENT OF COMPLIANCE

Miscombe (London) Limited is a private company, limited by shares, incorporated in England and Wales. The address of the registered office is 1 Jacobs Yard, North Lane, Buriton, Petersfield, GU31 5RR. The registration number is 09447647.

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

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention, with the exception of investment properties that are held at fair value.

Turnover
Turnover is recognised to the extent that is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding value added tax. The following criteria must also be met before turnover is recognised:

Rent Receivable
Turnover comprises rent receivable from the Company's investment properties, exclusive of value added tax where applicable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate.

Investment property
Investment property is carried at fair value determined annually by the directors and derived from available market information. Changes in fair value are recognised in the Income Statement and no depreciation is provided on these assets.

Financial instruments
Financial assets and financial liabilities are recognised when the Company becomes party to the contractual provisions of the financial instrument.

Cash and cash equivalents
These comprise cash at bank.

Debtors
Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Income Statement when there is objective evidence that the asset is impaired.

Creditors
Creditors are not interest bearing and are stated at their nominal value.


Miscombe (London) Limited (Registered number: 09447647)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1st October 2023 17,124
Additions 2,970
Disposals (2,920 )
At 30th September 2024 17,174
DEPRECIATION
At 1st October 2023 14,581
Charge for year 1,552
Eliminated on disposal (2,921 )
At 30th September 2024 13,212
NET BOOK VALUE
At 30th September 2024 3,962
At 30th September 2023 2,543

Miscombe (London) Limited (Registered number: 09447647)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024


5. INVESTMENT PROPERTY

Total
£
FAIR VALUE
At 1st October 20234,219.000
Revaluations-
At 30th September 20244,219,000


Fair Value at 30th September 2024 is represented by:

£
Valuation b/f (971,133 )
Valuation 2023 14,000
Valuation 2024 -
Cost 5,176,133
4,219,000

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£ £
Cost 5,176,133 5,176,133

The properties are held at the fair value as estimated by the directors, based on their knowledge of the market and industry information.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 10,786 67,005
Other debtors 2,032 -
VAT 1,135 -
Prepayments and accrued income 4,257 29,126
18,210 96,131

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 721 596
Amounts owed to group undertakings - 90,000
VAT - 9,021
Other creditors - 81,951
Accruals and deferred income 133,781 86,267
134,502 267,835

Miscombe (London) Limited (Registered number: 09447647)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Amounts owed to group undertakings 570,000 660,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

10. RESERVES
Retained
earnings
£   

At 1st October 2023 3,433,006
Profit for the year 50,068
At 30th September 2024 3,483,074

Retained earnings
This reserve comprises all current and prior period retained profits and losses after deducting any distributions made to the company's shareholders.

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The Company has a registered charge over one of its freehold investment properties in favour of the bankers of Miscombe Limited, a company under common control.