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REGISTERED NUMBER: 05175082 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 November 2024

for

Masterlord Estates Limited

Masterlord Estates Limited (Registered number: 05175082)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Masterlord Estates Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: J W Bloomfield
Mrs L Dawson



SECRETARY: J W Bloomfield



REGISTERED OFFICE: Crane Court
302 London Road
Ipswich
Suffolk
IP2 0AJ



BUSINESS ADDRESS: Epsilon House, Masterlord Office Village
West Road
Ransomes Europark
Ipswich
Suffolk
IP3 9FJ



REGISTERED NUMBER: 05175082 (England and Wales)



ACCOUNTANTS: Knights Lowe Ltd
Chartered Accountants
Crane Court
302 London Road
Ipswich
Suffolk
IP2 0AJ



BANKERS: Santander UK
Bridle Road
Bootle
Merseyside
L30 4GB

Masterlord Estates Limited (Registered number: 05175082)

Statement of Financial Position
30 November 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 159,068 212,007
Investments 5 2 1
Investment property 6 14,220,000 14,295,000
14,379,070 14,507,008

CURRENT ASSETS
Debtors 7 2,404,879 1,592,901
Cash at bank 126,626 65,871
2,531,505 1,658,772
CREDITORS
Amounts falling due within one year 8 565,017 773,185
NET CURRENT ASSETS 1,966,488 885,587
TOTAL ASSETS LESS CURRENT LIABILITIES 16,345,558 15,392,595

CREDITORS
Amounts falling due after more than one
year

9

(8,164,907

)

(7,027,487

)

PROVISIONS FOR LIABILITIES 12 (1,176,041 ) (1,182,920 )
NET ASSETS 7,004,610 7,182,188

CAPITAL AND RESERVES
Called up share capital 13 660 660
Capital redemption reserve 340 340
Fair value reserve 14 5,274,099 5,274,099
Retained earnings 1,729,511 1,907,089
SHAREHOLDERS' FUNDS 7,004,610 7,182,188

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

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

The directors acknowledge their 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.

Masterlord Estates Limited (Registered number: 05175082)

Statement of Financial Position - continued
30 November 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 Board of Directors and authorised for issue on 21 July 2025 and were signed on its behalf by:




J W Bloomfield - Director



Mrs L Dawson - Director


Masterlord Estates Limited (Registered number: 05175082)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Masterlord Estates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income receivable, income from serviced offices and proceeds from the sale of development properties.Turnover is stated net of value added tax where appropriate.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 4% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost and 15% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve. The company does not apply depreciation to its investment property which represents a departure from the requirements of the Companies Act 2006. This is, in the opinion of the directors, necessary to give a true and fair view of the financial statements.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans with related parties.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are repayable or receivable after one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement.

Masterlord Estates Limited (Registered number: 05175082)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 December 2023 17,614 149,726 69,225 241,111 477,676
Additions - 4,028 - - 4,028
At 30 November 2024 17,614 153,754 69,225 241,111 481,704
DEPRECIATION
At 1 December 2023 6,676 130,334 59,328 69,331 265,669
Charge for year 705 11,328 1,989 42,945 56,967
At 30 November 2024 7,381 141,662 61,317 112,276 322,636
NET BOOK VALUE
At 30 November 2024 10,233 12,092 7,908 128,835 159,068
At 30 November 2023 10,938 19,392 9,897 171,780 212,007

Masterlord Estates Limited (Registered number: 05175082)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 December 2023
and 30 November 2024 228,891
DEPRECIATION
At 1 December 2023 59,287
Charge for year 42,401
At 30 November 2024 101,688
NET BOOK VALUE
At 30 November 2024 127,203
At 30 November 2023 169,604

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 December 2023 1
Additions 1
At 30 November 2024 2
NET BOOK VALUE
At 30 November 2024 2
At 30 November 2023 1

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023 14,295,000
Disposals (75,000 )
At 30 November 2024 14,220,000
NET BOOK VALUE
At 30 November 2024 14,220,000
At 30 November 2023 14,295,000

Masterlord Estates Limited (Registered number: 05175082)

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

6. INVESTMENT PROPERTY - continued

Fair value at 30 November 2024 is represented by:
£   
Valuation in 2008 4,289,429
Valuation in 2010 (2,462,666 )
Valuation in 2011 4,489,669
Valuation in 2012 (10,766 )
Valuation in 2014 (1,456,901 )
Valuation in 2015 532,679
Valuation in 2017 952,594
Valuation in 2018 112,419
Valuation in 2020 23,269
Valuation in 2023 225,000
Cost 7,525,274
14,220,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 7,525,274 7,600,274

Investment property was valued on an open market basis on 20 December 2023 by BNP Paribas Real Estate .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 30,486 10,022
Amounts owed by group undertakings 2,368,645 1,571,781
Other debtors 5,748 11,098
2,404,879 1,592,901

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 10) - 210,000
Hire purchase contracts 82,579 33,462
Trade creditors 25,665 38,773
Amounts owed to group undertakings 2,774 13,611
Taxation and social security 240,506 300,811
Other creditors 213,493 176,528
565,017 773,185

Masterlord Estates Limited (Registered number: 05175082)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 10) 8,100,000 6,880,000
Hire purchase contracts 64,907 147,487
8,164,907 7,027,487

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans - 210,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 8,100,000 6,880,000

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 8,100,000 7,090,000
Hire purchase contracts 147,486 180,949
8,247,486 7,270,949

The loans and overdrafts are secured against the investment properties of the company and a fixed and floating charge over all other assets.

The company's hire purchase contracts are secured against the assets to which they relate.

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 4,786 11,665
Investment property gains 1,171,255 1,171,255
1,176,041 1,182,920

Masterlord Estates Limited (Registered number: 05175082)

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

12. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 December 2023 1,182,920
Accelerated capital allowances (6,879 )
Balance at 30 November 2024 1,176,041

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
330 Ordinary B £1 330 330
330 Ordinary D £1 330 330
660 660

14. RESERVES
Fair
value
reserve
£   
At 1 December 2023
and 30 November 2024 5,274,099