| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 November 2024 |
| for |
| Masterlord Estates Limited |
| REGISTERED NUMBER: |
| 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: |
| SECRETARY: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Crane Court |
| 302 London Road |
| Ipswich |
| Suffolk |
| IP2 0AJ |
| BANKERS: |
| 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 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 12 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 13 |
| Capital redemption reserve |
| Fair value reserve | 14 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the Board of Directors and authorised for issue on |
| 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 |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | Plant and | and | Motor |
| property | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 December 2023 |
| Additions |
| At 30 November 2024 |
| DEPRECIATION |
| At 1 December 2023 |
| Charge for year |
| At 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| 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 |
| DEPRECIATION |
| At 1 December 2023 |
| Charge for year |
| At 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 December 2023 |
| Additions |
| At 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 December 2023 |
| Disposals | ( |
) |
| At 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| 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 |
| Amounts owed by group undertakings |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts (see note 10) |
| Hire purchase contracts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 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) |
| Hire purchase contracts |
| 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 |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| 11. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 147,486 | 180,949 |
| 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 |
| Accelerated capital allowances | (6,879 | ) |
| Balance at 30 November 2024 |
| 13. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary B | £1 | 330 | 330 |
| Ordinary D | £1 | 330 | 330 |
| 660 | 660 |
| 14. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 December 2023 |
| and 30 November 2024 |