Company registration number 06393752 (England and Wales)
MALOU INVESTMENTS (UK) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
MALOU INVESTMENTS (UK) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
MALOU INVESTMENTS (UK) LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
16,372
Investment property
4
3,650,000
3,650,000
3,650,000
3,666,372
Current assets
Debtors
5
22,982,137
5,192,723
Investments
6
-
0
400,693
Cash at bank and in hand
101,479
242,808
23,083,616
5,836,224
Creditors: amounts falling due within one year
7
(23,393,749)
(6,313,232)
Net current liabilities
(310,133)
(477,008)
Total assets less current liabilities
3,339,867
3,189,364
Creditors: amounts falling due after more than one year
8
(62,500)
(62,500)
Provisions for liabilities
(301,250)
(299,478)
Net assets
2,976,117
2,827,386
Capital and reserves
Called up share capital
1,223,500
1,223,500
Share premium account
22,500
22,500
Profit and loss reserves
1,730,117
1,581,386
Total equity
2,976,117
2,827,386

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 16 June 2025 and are signed on its behalf by:
Mr M Burke
Director
Company registration number 06393752 (England and Wales)
MALOU INVESTMENTS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Malou Investments (UK) Limited is a private company limited by shares incorporated in England and Wales. The registered office is DSG Chartered Accountants, Castle Chambers, 43 Castle Street, Liverpool, Merseyside, United Kingdom, L2 9TL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

As at true30 June 2024 the company has net current liabilities of £310,133 (2023: £477,008). Included within liabilities due within one year is an amount of £23,319,753 (2023: £5,795,279) owed to a related party. Written confirmation has been received, not to demand payment of these amounts until such time that all third party creditors have been satisfactorily settled.

 

As at the date of these financial statements, the process to sell the investment properties held by the company is in operation, marketed via a sales agent. On 12 March 2025, one of these properties has been sold. A second property held by the business was sold on 11 April 2025, with ongoing discussions being had in respect of the final property.

 

The directors have concluded that the financial statements should not be prepared on a going concern basis given consideration is being given regarding the future direction of the business, following the sale of the properties, and assets and liabilities have been measured at their estimated net realisable value.

1.3
Turnover

Turnover, which is shown net of VAT, consists of rental income which is brought into account on a receivable basis.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Motor vehicles
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

MALOU INVESTMENTS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Investment property

Investment property is carried at fair value determined annually by the directors, with reference to the reports provided frequently by external values, 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 to the specific asset. No depreciation is provided. Changes in fair value are recognised in the Profit and Loss Account.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Current asset investments

Investments are cash balances held on deposit for a minimum period of 30 days. Interest on these balances are paid on the date of maturity.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

MALOU INVESTMENTS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023
26,550
Disposals
(26,550)
At 30 June 2024
-
0
Depreciation and impairment
At 1 July 2023
10,178
Depreciation charged in the year
1,770
Eliminated in respect of disposals
(11,948)
At 30 June 2024
-
0
Carrying amount
At 30 June 2024
-
0
At 30 June 2023
16,372
4
Investment property
2024
£
Fair value
At 1 July 2023 and 30 June 2024
3,650,000
MALOU INVESTMENTS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
4
Investment property
(Continued)
- 5 -

Investment property comprise a portfolio of commercial properties. In November 2021, property valuations where carried out by Matthews & Goodman, who are not connected with the company. The valuations had been made on an open market value basis by reference to market evidence of transaction prices for similar properties.

 

The directors are of the opinion that there has been no significant movements in the market value of the properties and the valuation is therefore appropriate as at 30 June 2024.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
4,866
-
0
Amounts owed by group undertakings
22,977,271
5,192,723
22,982,137
5,192,723
6
Current asset investments
2024
2023
£
£
Other investments
-
0
400,693
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
21,461
53,107
Corporation tax
27,404
41,163
Other taxation and social security
6,645
8,186
Other creditors
23,338,239
6,210,776
23,393,749
6,313,232
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
62,500
62,500
MALOU INVESTMENTS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
9
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
-
(1,772)
Revaluations
301,250
301,250
301,250
299,478
2024
Movements in the year:
£
Liability at 1 July 2023
299,478
Charge to profit or loss
1,772
Liability at 30 June 2024
301,250
10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
Laura Leslie BSc FCA
Statutory Auditor:
DSG Audit
Date of audit report:
16 June 2025
11
Events after the reporting date

In March 2025, the company sold one of the investment properties for consideration of £450,000. Further to this, in April 2025, a second property owned by the company was sold for consideration of £1,450,000. The remaining property is being actively marketed with a view to sale.

MALOU INVESTMENTS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
12
Related party transactions

Amounts owed by group undertakings are interest free, have no fixed date of repayment and are repayable upon demand.

 

Included in other creditors falling due within one year is a balance of £23,319,753 (2023: £5,795,279) which is due to a trust of which one of the directors is a beneficiary. Interest has been charged on this balance in the year amounting to £785,730 (2023: £205,292).

 

The company has taken advantage of the reduced disclosure exemption available under Financial Reporting Standard 102 relating to the disclosure of related party transactions between wholly owned group companies.

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