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REGISTERED NUMBER: 01184009 (England and Wales)

Unaudited Financial Statements

for the Year Ended

30 September 2024

for

Midland Properties (West Midlands)

Limited

Midland Properties (West Midlands)

Limited (Registered number: 01184009)

Contents of the Financial Statements

for the Year Ended 30 September 2024

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Midland Properties (West Midlands)

Limited

Company Information

for the Year Ended 30 September 2024

| DIRECTOR: | N C Drury

| REGISTERED OFFICE: | Church Court

| Stourbridge Road

| Halesowen

| West Midlands

| B63 3TT

| REGISTERED NUMBER: | 01184009 (England and Wales)

| ACCOUNTANTS: | Nicklin Accountancy Services Limited

| Church Court

| Stourbridge Road

| Halesowen

| West Midlands

| B63 3TT

Midland Properties (West Midlands)

Limited (Registered number: 01184009)

Balance Sheet

30 September 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 472,625 |  | 500,736 |  |

Investments | 5 | - |  | - |  |

Investment property | 6 | 11,528,750 |  | 11,854,250 |  |

12,001,375 |  | 12,354,986 |  |

CURRENT ASSETS

Debtors | 7 | 80,949 |  | 1,200,877 |  |

Cash at bank | 3,746,482 |  | 1,582,298 |  |

3,827,431 |  | 2,783,175 |  |

CREDITORS

Amounts falling due within one year | 8 | 2,181,883 |  | 1,329,232 |  |

NET CURRENT ASSETS | 1,645,548 |  | 1,453,943 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 13,646,923 |  | 13,808,929 |  |

CREDITORS

Amounts falling due after more than one year | 9 | (54,167 | ) | (63,925 | ) |

PROVISIONS FOR LIABILITIES | (424,000 | ) | (424,000 | ) |

NET ASSETS | 13,168,756 |  | 13,321,004 |  |

CAPITAL AND RESERVES

Called up share capital | 6,060 |  | 6,060 |  |

Capital redemption reserve | 10 | 4,040 |  | 4,040 |  |

Fair value reserve | 10 | 1,830,003 |  | 1,830,003 |  |

Retained earnings | 10 | 11,328,653 |  | 11,480,901 |  |

SHAREHOLDERS' FUNDS | 13,168,756 |  | 13,321,004 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Midland Properties (West Midlands)

Limited (Registered number: 01184009)

Balance Sheet - continued

30 September 2024

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 August 2025 and were signed by:

N C Drury - Director

Midland Properties (West Midlands)

Limited (Registered number: 01184009)

Notes to the Financial Statements

for the Year Ended 30 September 2024

1. | STATUTORY INFORMATION

| Midland Properties (West Midlands) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| The company's business address is Bloxwich Hall, Elmore Court, Elmore Green Road, Bloxwich, Walsall WS3 2DL

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Freehold property | - | On cost or revalued amount

| Plant and machinery | - | 15% on reducing balance

| Fixtures and fittings | - | 15% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 1 (2023 - 1 ) .

Midland Properties (West Midlands)

Limited (Registered number: 01184009)

Notes to the Financial Statements - continued

for the Year Ended 30 September 2024

4. | TANGIBLE FIXED ASSETS

| Fixtures

| Freehold |  | Plant and |  | and

| property |  | machinery |  | fittings

£ | £ | £ |

| COST OR VALUATION

| At 1 October 2023

| and 30 September 2024 | 450,000 |  | 567,789 |  | 1,484 |  |

| DEPRECIATION

| At 1 October 2023 | 35,000 |  | 565,824 |  | 666 |  |

| Charge for year | 7,000 |  | 295 |  | 123 |  |

| At 30 September 2024 | 42,000 |  | 566,119 |  | 789 |  |

| NET BOOK VALUE

| At 30 September 2024 | 408,000 |  | 1,670 |  | 695 |  |

| At 30 September 2023 | 415,000 |  | 1,965 |  | 818 |  |

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST OR VALUATION

| At 1 October 2023

| and 30 September 2024 | 152,119 |  | 684 |  | 1,172,076 |  |

| DEPRECIATION

| At 1 October 2023 | 69,602 |  | 248 |  | 671,340 |  |

| Charge for year | 20,628 |  | 65 |  | 28,111 |  |

| At 30 September 2024 | 90,230 |  | 313 |  | 699,451 |  |

| NET BOOK VALUE

| At 30 September 2024 | 61,889 |  | 371 |  | 472,625 |  |

| At 30 September 2023 | 82,517 |  | 436 |  | 500,736 |  |

| Included in cost or valuation of land and buildings is freehold land of £ 100,000 (2023 - £ 100,000 ) which is not depreciated.

| Cost or valuation at 30 September 2024 is represented by:

| Fixtures

| Freehold |  | Plant and |  | and

| property |  | machinery |  | fittings

£ | £ | £ |

| Cost | 450,000 |  | 567,789 |  | 1,484 |  |

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| Cost | 152,119 |  | 684 |  | 1,172,076 |  |

Midland Properties (West Midlands)

Limited (Registered number: 01184009)

Notes to the Financial Statements - continued

for the Year Ended 30 September 2024

4. | TANGIBLE FIXED ASSETS - continued

| If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 | 2023 |

£ | £ |

| Cost | 46,659 |  | 46,659 |  |

| Freehold land and buildings were valued on an open market basis on 30 September 2021 by the directors .

5. | FIXED ASSET INVESTMENTS

| Other

| investments

£ |

| COST

| At 1 October 2023

| and 30 September 2024 | 174,238 |  |

| PROVISIONS

| At 1 October 2023

| and 30 September 2024 | 174,238 |  |

| NET BOOK VALUE

| At 30 September 2024 | - |  |

| At 30 September 2023 | - |  |

6. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 October 2023 | 11,854,250 |  |

| Disposals | (325,500 | ) |

| At 30 September 2024 | 11,528,750 |  |

| NET BOOK VALUE

| At 30 September 2024 | 11,528,750 |  |

| At 30 September 2023 | 11,854,250 |  |

| Fair value at 30 September 2024 is represented by:

£ |

| Cost | 11,528,750 |  |

| If the investment properties had not been revalued they would have been included at the following historical cost:

2024 | 2023 |

£ | £ |

| Cost | 10,244,078 |  | 10,569,578 |  |

| Investment properties were valued on an open market basis on 30 September 2021 by the directors .

Midland Properties (West Midlands)

Limited (Registered number: 01184009)

Notes to the Financial Statements - continued

for the Year Ended 30 September 2024

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Trade debtors | 68,888 |  | 58,433 |  |

| Amounts owed by group undertakings | 3,720 |  | 420 |  |

| Other debtors | 8,341 |  | 1,138,173 |  |

| Prepayments | - |  | 3,851 |  |

80,949 |  | 1,200,877 |  |

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Bank loans and overdrafts | 627 |  | 627 |  |

| Hire purchase contracts | 9,758 |  | 9,758 |  |

| Trade creditors | 188,428 |  | 147,453 |  |

| Amounts owed to group undertakings | 1,802,218 |  | 958,814 |  |

| Tax | 61,594 |  | 94,723 |  |

| Social security and other taxes | 42,226 |  | 42,085 |  |

| Other creditors | 130 |  | 130 |  |

| Accrued expenses | 76,902 |  | 75,642 |  |

2,181,883 |  | 1,329,232 |  |

9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2024 | 2023 |

£ | £ |

| Hire purchase contracts | 54,167 |  | 63,925 |  |

10. | RESERVES

| Capital |  | Fair |

| Retained |  | redemption |  | value |

| earnings |  | reserve |  | reserve |  | Totals

£ | £ | £ | £ |

| At 1 October 2023 | 11,480,901 |  | 4,040 |  | 1,830,003 |  | 13,314,944 |  |

| Profit for the year | 647,752 |  | 647,752 |  |

| Dividends | (800,000 | ) | (800,000 | ) |

| At 30 September 2024 | 11,328,653 |  | 4,040 |  | 1,830,003 |  | 13,162,696 |  |

11. | OTHER FINANCIAL COMMITMENTS

| At 30 September 2024 the company had other financial commitments of £13,749 (2023 - £21,182).

12. | RELATED PARTY DISCLOSURES

| At 30 September 2024 the company owed £130 (2023 - £130) to Upward Developments (West Midlands) Limited.

| At 30 September 2024 the company was owed £9,708 (2023 - £1,134,092) by Upward Enterprises Limited.

| At 30 September 2024 the company owed £1,785,178 (2023 - £951,386) to N & C Enterprises Limited.

| N Drury is a director of the above companies.

Midland Properties (West Midlands)

Limited (Registered number: 01184009)

Notes to the Financial Statements - continued

for the Year Ended 30 September 2024

13. | ULTIMATE CONTROLLING PARTY

| The company is a wholly owned subsidiary of N&C Enterprises Limited, a company with a registered office address of Church Court, Stourbridge Road, Halesowen, West Midlands B63 3TT.