Company registration number:
12970591
MLTW Properties Limited
Pages for filing with Registrar
MLTW Properties Limited
Contents
Statement of financial position
Notes to the financial statements
MLTW Properties Limited
Statement of financial position
31 October 2024
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2024 |
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2023 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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5 |
176,897 |
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176,897 |
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_______ |
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_______ |
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176,897 |
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176,897 |
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Current assets |
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Debtors |
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6 |
2 |
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2 |
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Cash at bank and in hand |
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12,203 |
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9,137 |
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_______ |
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_______ |
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12,205 |
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9,139 |
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Creditors: amounts falling due |
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within one year |
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7 |
(
55,693) |
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(
52,522) |
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_______ |
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_______ |
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Net current liabilities |
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(
43,488) |
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(
43,383) |
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_______ |
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_______ |
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Total assets less current liabilities |
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133,409 |
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133,514 |
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Creditors: amounts falling due |
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after more than one year |
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8 |
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(
125,210) |
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(
125,210) |
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_______ |
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_______ |
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Net assets |
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8,199 |
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8,304 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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2 |
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2 |
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Profit and loss account |
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8,197 |
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8,302 |
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_______ |
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_______ |
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Shareholders funds |
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8,199 |
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8,304 |
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_______ |
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_______ |
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For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
24 July 2025
, and are signed on behalf of the board by:
M J Warner
Director
Company registration number:
12970591
MLTW Properties Limited
Notes to the financial statements
Year ended 31 October 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is West 2, Asama Court, Newcastle Business Park, Newcastle upon Tyne, NE4 7YD.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents the total value of rental income receivable during the year, net of Value Added Tax.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: Nil).
5.
Tangible assets
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Long leasehold property |
Total |
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£ |
£ |
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Cost |
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At 1 November 2023 and 31 October 2024 |
176,897 |
176,897 |
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_______ |
_______ |
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Depreciation |
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At 1 November 2023 and 31 October 2024 |
- |
- |
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_______ |
_______ |
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Carrying amount |
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At 31 October 2024 |
176,897 |
176,897 |
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_______ |
_______ |
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At 31 October 2023 |
176,897 |
176,897 |
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_______ |
_______ |
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Investment property
Included within the above is investment property measured at fair value as follows:
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£ |
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At 1 November 2023 and 31 October 2024 |
176,897 |
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_______ |
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There was no revaluation of investment properties during the year.
6.
Debtors
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2024 |
2023 |
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£ |
£ |
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Other debtors |
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2 |
2 |
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_______ |
_______ |
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7.
Creditors: amounts falling due within one year
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2024 |
2023 |
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£ |
£ |
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Corporation tax |
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680 |
821 |
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Other creditors |
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55,013 |
51,701 |
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_______ |
_______ |
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55,693 |
52,522 |
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_______ |
_______ |
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8.
Creditors: amounts falling due after more than one year
|
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2024 |
2023 |
|
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£ |
£ |
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Bank loans and overdrafts |
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125,210 |
125,210 |
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_______ |
_______ |
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9.
Directors advances, credits and guarantees
Within other creditors due within one year are amounts due to the directors of £54,413 (2023: £51, 101). these are repayable on demand and provided interest free.