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Registered number: 10933006
Melinfa Properties Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10933006
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 72,721 2,412
Investment Properties 5 1,230,389 1,200,000
1,303,110 1,202,412
CURRENT ASSETS
Debtors 6 451,229 302,405
Cash at bank and in hand 6,140 4,952
457,369 307,357
Creditors: Amounts Falling Due Within One Year 7 (1,384,529 ) (1,187,134 )
NET CURRENT ASSETS (LIABILITIES) (927,160 ) (879,777 )
TOTAL ASSETS LESS CURRENT LIABILITIES 375,950 322,635
Creditors: Amounts Falling Due After More Than One Year 8 (80,680 ) (33,108 )
NET ASSETS 295,270 289,527
CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 313,153 313,153
Profit and Loss Account (17,983 ) (23,726 )
SHAREHOLDERS' FUNDS 295,270 289,527
Page 1
Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr C M Mills
Director
29/08/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Melinfa Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10933006 . The registered office is 26 Penygroes, Groesfaen, Pontyclun, R C T, CF72 8PA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% Reducing Balance
Computer Equipment 25% Straight Line
2.4. Investment Properties
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 September 2023 2,000 2,632 4,632
Additions 81,000 - 81,000
As at 31 August 2024 83,000 2,632 85,632
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 September 2023 531 1,689 2,220
Provided during the period 10,492 199 10,691
As at 31 August 2024 11,023 1,888 12,911
Net Book Value
As at 31 August 2024 71,977 744 72,721
As at 1 September 2023 1,469 943 2,412
5. Investment Property
2024
£
Fair Value
As at 1 September 2023 1,200,000
Additions 30,389
As at 31 August 2024 1,230,389
6. Debtors
2024 2023
£ £
Due within one year
Amounts owed by participating interests 451,229 297,558
Other debtors - 4,847
451,229 302,405
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 251
Trade creditors - 9,718
Bank loans and overdrafts 5,556 5,556
Other creditors 1,378,973 1,171,609
1,384,529 1,187,134
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 1,163
Bank loans 80,680 31,945
80,680 33,108
Page 4
Page 5
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 251
Later than one year and not later than five years - 1,163
- 1,414
- 1,414
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Reserves
Fair Value Reserve
£
As at 1 September 2023 313,153
As at 31 August 2024 313,153
Page 5