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Company No: 01272092 (England and Wales)

MELVILLE PROPERTY GROUP LIMITED

Unaudited Financial Statements
For the financial period from 01 April 2024 to 30 April 2025
Pages for filing with the registrar

MELVILLE PROPERTY GROUP LIMITED

Unaudited Financial Statements

For the financial period from 01 April 2024 to 30 April 2025

Contents

MELVILLE PROPERTY GROUP LIMITED

COMPANY INFORMATION

For the financial period from 01 April 2024 to 30 April 2025
MELVILLE PROPERTY GROUP LIMITED

COMPANY INFORMATION (continued)

For the financial period from 01 April 2024 to 30 April 2025
Directors M Butt
S Wilson
Registered office 614 Kingston Road
Raynes Park
London
SW20 8DN
United Kingdom
Company number 01272092 (England and Wales)
Accountant Kreston Reeves LLP
Plus X Innovation Hub
Lewes Road
Brighton
East Sussex
BN2 4GL

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MELVILLE PROPERTY GROUP LIMITED

For the financial period from 01 April 2024 to 30 April 2025

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MELVILLE PROPERTY GROUP LIMITED (continued)

For the financial period from 01 April 2024 to 30 April 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Melville Property Group Limited for the financial period ended 30 April 2025 which comprise the Balance Sheet and the related notes 1 to 10 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

It is your duty to ensure that Melville Property Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Melville Property Group Limited. You consider that Melville Property Group Limited is exempt from the statutory audit requirement for the financial period.

We have not been instructed to carry out an audit or a review of the financial statements of Melville Property Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Board of Directors of Melville Property Group Limited, as a body, in accordance with the terms of our engagement letter dated 17 February 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Melville Property Group Limited and state those matters that we have agreed to state to the Board of Directors of Melville Property Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Melville Property Group Limited and its Board of Directors as a body for our work or for this report.

Kreston Reeves LLP
Chartered Accountants

Plus X Innovation Hub
Lewes Road
Brighton
East Sussex
BN2 4GL

20 June 2025

MELVILLE PROPERTY GROUP LIMITED

BALANCE SHEET

As at 30 April 2025
MELVILLE PROPERTY GROUP LIMITED

BALANCE SHEET (continued)

As at 30 April 2025
Note 30.04.2025 31.03.2024
£ £
Fixed assets
Tangible assets 3 0 45,170
Investment property 4 541,000 14,435,415
Investments 5 0 2,968,092
541,000 17,448,677
Current assets
Debtors 6 1,709,874 68,073
Cash at bank and in hand 7 18,477,734 944,831
20,187,608 1,012,904
Creditors: amounts falling due within one year 8 ( 669,790) ( 868,883)
Net current assets 19,517,818 144,021
Total assets less current liabilities 20,058,818 17,592,698
Provision for liabilities ( 45,340) 541,571
Net assets 20,013,478 18,134,269
Capital and reserves
Called-up share capital 306,494 306,494
Profit and loss account 19,706,984 17,827,775
Total shareholders' funds 20,013,478 18,134,269

For the financial period ending 30 April 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Melville Property Group Limited (registered number: 01272092) were approved and authorised for issue by the Board of Directors on 20 June 2025. They were signed on its behalf by:

M Butt
Director
MELVILLE PROPERTY GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 April 2024 to 30 April 2025
MELVILLE PROPERTY GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 April 2024 to 30 April 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Melville Property Group Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 614 Kingston Road, Raynes Park, London, SW20 8DN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest whole Pound (£).

Going concern

The directors have confirmed their intention to place the Company into members’ voluntary liquidation within a 12-month period. At the date these financial statements were approved, the Company remained solvent and continued to meet its obligations as they fell due. The financial statements have therefore been prepared on a going concern basis.

Reporting period length

These financial statements cover the period from 1 April 2024 to 31 April 2025, a period of 13 months. The comparative figures presented are for the 12-month period ended 31 March 2024 and therefore may not be entirely comparable.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 25 % reducing balance
Office equipment 25 % reducing balance
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by external valuers and derived from current market rent and investment property yields for comparable real estate, adjusted if necessary, for any difference in nature, location or condition of the specific property.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
- at fair value with changes recognised in the Statement of comprehensive income if the shares are publicly traded or their fair value can otherwise be measured reliably;
- at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an
impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is
an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a
net basis or to realise the asset and settle the liability simultaneously.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.

2. Employees

Period from
01.04.2024 to
30.04.2025
Year ended
31.03.2024
Number Number
Monthly average number of persons employed by the Company during the period, including directors 3 3

3. Tangible assets

Fixtures and fittings Office equipment Computer equipment Total
£ £ £ £
Cost
At 01 April 2024 87,612 47,348 7,224 142,184
Additions 0 0 2,137 2,137
Disposals ( 87,612) ( 47,348) ( 9,361) ( 144,321)
At 30 April 2025 0 0 0 0
Accumulated depreciation
At 01 April 2024 51,374 43,458 2,182 97,014
Charge for the financial period 9,814 1,053 1,674 12,541
Disposals ( 61,188) ( 44,511) ( 3,856) ( 109,555)
At 30 April 2025 0 0 0 0
Net book value
At 30 April 2025 0 0 0 0
At 31 March 2024 36,238 3,890 5,042 45,170

4. Investment property

Investment property
£
Valuation
As at 01 April 2024 14,435,415
Disposals (13,894,415)
As at 30 April 2025 541,000

The 2025 valuations were made by the directors, on an open market value for existing use basis.

5. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 April 2024 2,968,092 2,968,092
Additions 406,432 406,432
Disposals ( 3,374,524) ( 3,374,524)
At 30 April 2025 0 0
Carrying value at 30 April 2025 0 0
Carrying value at 31 March 2024 2,968,092 2,968,092

6. Debtors

30.04.2025 31.03.2024
£ £
Trade debtors 10,983 27,637
Prepayments and accrued income 0 34,576
Other debtors 1,698,891 5,860
1,709,874 68,073

7. Cash and cash equivalents

30.04.2025 31.03.2024
£ £
Cash at bank and in hand 18,477,734 944,831

8. Creditors: amounts falling due within one year

30.04.2025 31.03.2024
£ £
Trade creditors 204 23,561
Accruals and deferred income 19,710 274,772
Corporation tax 406,151 402,074
Other taxation and social security 234,148 33,243
Other creditors 9,577 135,233
669,790 868,883

9. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

30.04.2025 31.03.2024
£ £
Unpaid contributions due to the fund (inc. in other creditors) 0 410
Other pensions commitments not shown in the Balance Sheet 3,952 3,585
3,952 3,995

10. Related party transactions

Transactions with the entity's directors

30.04.2025 31.03.2024
£ £
Dividends paid in respect of shares held by the company's directors 367,682 254,453

At the year end the amount due to/(from) the directors, M Butt and S Wilson, were £5,890 (2024 - £5,294) and (£864) (2024 - (£360)) respectively.