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Registered number: 13089260






MILKWOOD PROPERTIES LIMITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

 
MILKWOOD PROPERTIES LIMITED
 
 
COMPANY INFORMATION


Director
D. G. Ross 




Registered number
13089260



Registered office
Calder & Co
30 Orange Street

London

WC2H 7HF




Independent auditors
Calders (1883) LLP
Chartered Accountants and Statutory Auditors

30 Orange Street

London

WC2H 7HF





 
MILKWOOD PROPERTIES LIMITED
 

CONTENTS



Page
Director's report
 
 
1 - 2
Independent auditors' report to the members of Milkwood Properties Limited
 
 
3 - 7
Statement of comprehensive income including profit and loss account 
 
 
8
Balance sheet
 
 
9
Statement of changes in equity
 
 
10
Notes to the financial statements
 
 
11 - 17


 
MILKWOOD PROPERTIES LIMITED
 
 
 
DIRECTOR'S REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2025

The director presents his report and the financial statements for the year ended 28 February 2025.

Director's responsibilities statement

The director is responsible for preparing the Director's report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the director is required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable him to ensure that the financial statements comply with the Companies Act 2006He is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Principal activity

The principal activity of the company during the year was the investment in and letting of commercial UK property.

Director

The director who served during the year was:

D. G. Ross 

Disclosure of information to auditors

The director at the time when this Director's report is approved has confirmed that:
 
so far as he is aware, there is no relevant audit information of which the Company's auditors are unaware, and

he has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

The auditorsCalders (1883) LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Page 1

 
MILKWOOD PROPERTIES LIMITED
 
 
 
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025

Small companies note

In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 2 July 2025 and signed on its behalf.
 





D. G. Ross
Director

Page 2

 
MILKWOOD PROPERTIES LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MILKWOOD PROPERTIES LIMITED
 

Opinion


We have audited the financial statements of Milkwood Properties Limited (the 'Company') for the year ended 28 February 2025, which comprise the Statement of comprehensive income including profit and loss account, the Balance sheet, the Statement of changes in equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 28 February 2025 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.


Page 3

 
MILKWOOD PROPERTIES LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MILKWOOD PROPERTIES LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The director is responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Director's report has been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Director's report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of director's remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Director's report and from the requirement to prepare a Strategic report.


Page 4

 
MILKWOOD PROPERTIES LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MILKWOOD PROPERTIES LIMITED (CONTINUED)


Responsibilities of directors
 

As explained more fully in the Director's responsibilities statement set out on page 1, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the director is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered and undertook the following audit procedures in response:
      •    We obtained an understanding of the legal and regulatory frameworks that are applicable to the company
           and determined that the most significant are those that relate to the reporting frameworks (United 
           Kingdom accounting standards and Companies Act 2006);
      •    We obtained an understanding of the nature of the industry and sector, control environment and business
           performance; 
      •    The outcome of discussions with management and those charged with governance and any matters we
           identified having obtained and reviewed the company’s documentation of their policies and procedures
           related to:   
                 -    Identifying, evaluating and complying with laws and regulations and whether they were aware of 
                      any instances of non-compliance or any actual or potential litigation or claims;
                 -    Detecting and responding to the risks of fraud and whether they have knowledge of any actual, 
                      suspected or alleged fraud;
                 -    The internal controls established to mitigate risks of fraud or non-compliance with laws and
                      regulations;   
      •    The matters discussed during the audit engagement team briefing regarding how and where fraud might 
           occur in the financial statements and any potential indicators of fraud. All engagement team members 
           were advised to remain alert to any indications of fraud or non-compliance with laws and regulations
           throughout the audit;  
      •    Reviewing the financial statement disclosures and testing to supporting documentation to assess
           compliance with provisions of relevant laws and regulations described as having a direct effect on the 
           financial statements;
      •    Performing analytical procedures to identify any unusual or unexpected relationships that may indicate
           risks of material misstatement due to fraud; 
 
Page 5

 
MILKWOOD PROPERTIES LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MILKWOOD PROPERTIES LIMITED (CONTINUED)



      •    Reviewing correspondence with HMRC and inspection of relevant legal correspondence;
      •    In addressing the risk of fraud through management override of controls, testing the appropriateness of
           journal entries and other adjustments by testing manual journal entries, in particular journal entries
           relating to management estimates and entries determined to be large or relating to unusual transactions;
      •    Assessing whether the judgements made in making accounting estimates are indicative of a potential
           bias; and evaluating the business rationale of any significant transactions that are unusual or outside the
           normal course of business;
      •    Assessment of the appropriateness of the collective competence and capabilities of the engagement
           team included consideration of the engagement team’s: 
                 -    understanding of, and practical experience with audit engagements of a similar nature and
                      complexity through appropriate training and participation;
                 -    knowledge of the industry in which the client operates; 
                 -    understanding of the legal and regulatory requirements specific to the company including:
                                   •    the provisions of the applicable legislation
                                   •    the applicable statutory provisions.
As a result of these procedures, we considered the opportunities and incentives that may exist within the company for fraud and identified the greatest potential for fraud in the areas in which management is required to exercise significant judgement. We are also required to perform specific procedures to respond to the risk of management override.   
We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of the material amounts and disclosures in the financial statements. 
Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, Company Law, Tax legislation, and distributable profits legislation.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate and avoid a material penalty. These included data protection, employment and health and safety regulations. 
With regards to laws and regulations relating to the operating aspects of the company, these were discussed with management and were not considered fundamental to the operating of the business therefore should not have a material impact on the financial statements.
No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity’s controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.


Page 6

 
MILKWOOD PROPERTIES LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MILKWOOD PROPERTIES LIMITED (CONTINUED)


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Philip Ewen (Senior statutory auditor)
  
for and on behalf of
Calders (1883) LLP
 
Chartered Accountants
and Statutory Auditors
  
30 Orange Street
London
WC2H 7HF

2 July 2025
Page 7

 
MILKWOOD PROPERTIES LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME INCLUDING PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 28 FEBRUARY 2025

2025
2024
Note
£
£

  

Turnover
  
394,340
330,700

Gross profit
  
394,340
330,700

Administrative expenses
  
(88,769)
(23,245)

Operating profit
  
305,571
307,455

Interest receivable and similar income
  
1,223
13

Interest payable and similar expenses
  
(399,638)
(147,995)

(Loss)/profit before tax
  
(92,844)
159,473

Taxation
 5 
-
(39,058)

(Loss)/profit for the financial year
  
(92,844)
120,415

There were no recognised gains and losses for 2025 or 2024 other than those included in the Statement of comprehensive income including profit and loss account.

The notes on pages 11 to 17 form part of these financial statements.

Page 8

 
MILKWOOD PROPERTIES LIMITED
REGISTERED NUMBER: 13089260

BALANCE SHEET
AS AT 28 FEBRUARY 2025

28 February
29 February
2025
2024
Note
£
£

Fixed assets
  

Investments
 6 
12,493,020
5,102,157

  
12,493,020
5,102,157

Current assets
  

Debtors: amounts falling due within one year
 7 
77,520
6,572

Cash at bank and in hand
  
88,789
31,938

  
166,309
38,510

Creditors: amounts falling due within one year
 8 
(117,654)
(65,020)

Net current assets/(liabilities)
  
 
 
48,655
 
 
(26,510)

Total assets less current liabilities
  
12,541,675
5,075,647

Creditors: amounts falling due after more than one year
 9 
(12,316,268)
(4,757,396)

  

Net assets
  
225,407
318,251


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
225,307
318,151

  
225,407
318,251


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 July 2025.




D. G. Ross
Director

The notes on pages 11 to 17 form part of these financial statements.

Page 9

 
MILKWOOD PROPERTIES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 FEBRUARY 2025


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 March 2023
100
197,736
197,836



Profit for the year
-
120,415
120,415



At 1 March 2024
100
318,151
318,251



Loss for the year
-
(92,844)
(92,844)


At 28 February 2025
100
225,307
225,407


The notes on pages 11 to 17 form part of these financial statements.

Page 10

 
MILKWOOD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

1.


General information

Milkwood Properties Limited is a private company limited by share capital, incorporated in England and Wales, registration number 13089260.  The address of the registered office is 30 Orange Street, London, WC2H 7HF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income including profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover represents the rent receivable for the year. 

Page 11

 
MILKWOOD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.8

Investment property

Investment property is carried at fair value determined annually by the directors 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 of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income including profit and loss account.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 12

 
MILKWOOD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)

 
2.12

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.
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 including profit and loss account.
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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Investment Property Valuations
The director uses his best judgement to estimate the valuation of the investment properties at the balance sheet date using current market conditions.
Prepayments & accrued expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers. These provisions are estimated based upon the expected values of the invoices which are issued and services received following the period end.

Page 13

 
MILKWOOD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

4.


Employees




The average monthly number of employees, including the director, during the year was as follows:


        2025
        2024
            No.
            No.







Director
1
1


5.


Taxation


2025
2024
£
£

Corporation tax


Current tax on profits for the year
-
39,058


Total current tax
-
39,058

Factors affecting tax charge for the year

No corporation tax arises as a result of the tax adjusted loss for the year.


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 14

 
MILKWOOD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

6.


Investments








Investment properties

£



Cost or valuation


At 1 March 2024
5,102,157


Additions
7,390,863



At 28 February 2025
12,493,020




The investment property described as 806 London Road, Alvaston, Derby, DE24 8WA was acquired on 2nd August 2021 and is shown at current valuation. The valuation is based on open market value for existing use, as determined by the director. The original cost of the investment property was £5,102,157.
The investment property described as 64-67 High Street, Stourbridge, DY8 1DX was acquired on       26th April 2024 and is shown at current valuation. The valuation is based on open market value for existing use, as determined by the director. The original cost of the investment property was £2,721,451.
The investment property described as 74-76 Cotton Street, Castle Douglas, DG7 1AN was acquired on      22nd November 2024 and is shown at current valuation. The valuation is based on open market value for existing use, as determined by the director. The original cost of the investment property was £2,225,912.
The investment property described as 24-25 Princes Street, Edinburgh, EH2 2AN was acquired on       3rd December 2024 and is shown at current valuation. The valuation is based on open market value for existing use, as determined by the director. The original cost of the investment property was £2,443,500.


7.


Debtors: Amounts falling due within one year

28 February
29 February
2025
2024
£
£


Trade debtors
46,466
-

Amounts owed by group undertakings
-
4,766

Other debtors
24,857
-

Prepayments and accrued income
6,197
1,806

77,520
6,572


Page 15

 
MILKWOOD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

8.


Creditors: Amounts falling due within one year

28 February
29 February
2025
2024
£
£

Corporation tax
-
9,006

Other taxation and social security
19,333
16,287

Accruals and deferred income
98,321
39,727

117,654
65,020



9.


Creditors: Amounts falling due after more than one year

28 February
29 February
2025
2024
£
£

Bank loan
3,402,500
2,140,000

Amounts owed to group undertakings
8,913,768
2,617,396

12,316,268
4,757,396


The bank loan is secured by a floating charge over the investment properties at 806 London Road, Alvaston, Derby, DE24 8WA and 64-67 High Street, Stourbridge, DY8 1DX described in Note 6 and interest is charged at 2.05% over the SONIA Screen Rate.  
The amounts owed to group undertakings includes an equity loan of £2,063,746 (2024 - £970,000) which bears no interest and a further loan of £6,850,022 (2024 - £1,647,396) which currently bears interest at the Bank of England base rate but is subject to annual review (2024 - interest at 0%).


10.


Bank Loan


Analysis of the maturity of loans is given below:


28 February
29 February
2025
2024
£
£



Amounts falling due 2-5 years

Bank loan
3,402,500
2,140,000


3,402,500
2,140,000


Page 16

 
MILKWOOD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

11.


Controlling party

The company is a wholly owned subsidiary of Jamland Holdings Limited, a company incorporated in England and Wales. The ultimate controlling party is the Jam Trust, a trust established in the Republic of South Africa.

 
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