Company registration number 01117121 (England and Wales)
MHVW ESTATES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
MHVW ESTATES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
MHVW ESTATES LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
23,657
993
Investment property
5
30,460,000
30,460,000
30,483,657
30,460,993
Current assets
Debtors
6
379,566
352,129
Cash at bank and in hand
1,993,908
1,938,034
2,373,474
2,290,163
Creditors: amounts falling due within one year
7
(1,411,932)
(1,367,614)
Net current assets
961,542
922,549
Total assets less current liabilities
31,445,199
31,383,542
Creditors: amounts falling due after more than one year
8
(1,180,035)
(1,180,035)
Provisions for liabilities
(24,266)
(504,263)
Net assets
30,240,898
29,699,244
Capital and reserves
Called up share capital
9
100,000
100,000
Non-distributable profits reserve
10
8,854,331
9,126,234
Distributable profit and loss reserves
21,286,567
20,473,010
Total equity
30,240,898
29,699,244

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 13 August 2025 and are signed on its behalf by:
A N How
Director
Company registration number 01117121 (England and Wales)
MHVW ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

MHVW Estates Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Gatehouse, Welland Business Park, Valley Way, Market Harborough, UK, LE16 7PS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is measured at the fair value of the consideration received or receivable for rental income, insurance recharges, management fee recharges and other recharged income in the normal course of business, and is shown net of discounts and VAT.

 

Rental income

Operating lease income from investment properties is recognised in profit and loss on a straight-line basis over the lease term.

 

Other recharged income

Income relating to expense amounts recharged to tenants is recognised in profit and loss at the time the expenditure was originally incurred.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% on Straight line

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.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

MHVW ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ”Basic Financial Instruments” to all of its financial instruments.

 

Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

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

Basic financial liabilities

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

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

MHVW ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from the other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates are underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

Fair value of investment property

The fair value of investment properties within the accounts are subject to a degree of estimation by the directors, who refer to current market values of similar properties and the advice of experts when forming their valuations.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
7
7
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024
1,985
Additions
30,880
At 31 March 2025
32,865
Depreciation and impairment
At 1 April 2024
992
Depreciation charged in the year
8,216
At 31 March 2025
9,208
Carrying amount
At 31 March 2025
23,657
At 31 March 2024
993
MHVW ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
5
Investment property
2025
£
Fair value
At 1 April 2024
30,460,000
Additions
793,558
Revaluations
(793,558)
At 31 March 2025
30,460,000

The historical cost of the investment properties is £22,532,521 (2024 - £21,738,963).

 

The investment properties were valued by Lambert Smith Hampton Limited, Chartered Surveyors, as at 23 April 2024 on an open market value basis. The directors have determined that there has been no material change in the value of these properties since this point.

 

6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
287,592
268,237
Other debtors
91,974
83,892
379,566
352,129
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
15,175
62,547
Corporation tax
203,209
178,666
Other taxation and social security
140,525
61,557
Other creditors
1,053,023
1,064,844
1,411,932
1,367,614
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
1,180,035
1,180,035

Amounts of £1,180,035 (2024 - £1,180,035) included in other creditors relate to preference shares classified as liabilities as detailed in note 9.

MHVW ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100,000
100,000
100,000
100,000
2025
2024
2025
2024
Preference share capital
Number
Number
£
£
Issued and fully paid
A Preference shares of £1 each
1,080,035
1,080,035
1,080,035
1,080,035
B Preference shares of £1 each
100,000
100,000
100,000
100,000
1,180,035
1,180,035
1,180,035
1,180,035
Preference shares classified as liabilities
1,180,035
1,180,035

The preference shares detailed above do not have a contractually stated redemption date however they are redeemable at par value subject to both parties approval. They entitle the shareholder to a variable net cumulative preference share dividend on the 31 March in each year in respect of the twelve month period ending on that date. The rate of return on the preference shares is in line with the market rate of borrowing.

10
Non-distributable profits reserve
2025
2024
£
£
At the beginning of the year
9,126,234
9,520,843
Non distributable profits in the year
(271,903)
(394,609)
At the end of the year
8,854,331
9,126,234
11
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Keir Singleton
Statutory Auditor:
S&W Audit
Date of audit report:
26 August 2025
MHVW ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
12
Related party transactions

The company has taken advantage of the exemption permitted by Section 33 'Related Party Disclosures', not to provide disclosures of transactions entered into with other wholly-owned members of the group.

 

A director of the company is a director of Karslakes Solicitors Limited. During the year the company incurred expenses of £556 (2024 - £60,898) with regards to legal fees and advice.

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