MB St Albans Limited
Unaudited Financial Statements
For the year ended 31 December 2024
Pages for Filing with Registrar
Company Registration No. 09711064 (England and Wales)
MB St Albans Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
MB St Albans Limited
Statement Of Financial Position
As at 31 December 2024
Page 1
2024
2023
Notes
£
£
£
£
Non-current assets
Investments
3
-
0
1
Current assets
Trade and other receivables
4
1,107
326,364
Cash and cash equivalents
140,656
607,928
141,763
934,292
Payables: amounts falling due within one year
5
(24,614)
(446,564)
Net current assets
117,149
487,728
Net assets
117,149
487,729
Equity
Called up share capital
6
16,495,543
16,645,543
Retained earnings
(16,378,394)
(16,157,814)
Total equity
117,149
487,729

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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 2 September 2025 and are signed on its behalf by:
D Vanagtmael
Director
Company Registration No. 09711064
MB St Albans Limited
Notes to the Financial Statements
For the year ended 31 December 2024
Page 2
1
Accounting policies
Company information

MB St Albans Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, EC2A 2AP.

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.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Exemptions for qualifying entities under FRS 102

The company’s ultimate parent undertaking, MBERP II (Luxembourg) 27 S.à r.l., included the company in its consolidated financial statements. The consolidated financial statements of MBERP II (Luxembourg) 27 S.à r.l.. are prepared in accordance with International Financial Reporting Standards as adopted by the EU and are available to the public and may be obtained from www.mb27.info. In these financial statements, the company is considered to be a qualifying entity (for the purposes of this FRS) and has applied the exemptions available under FRS 102 in respect of the following:

- Reconciliation of the number of shares outstanding from the beginning to the end of the period; and

- Cash flow statement and related notes, and

- Key management personnel compensation; and

- Basic financial Instruments.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

MB St Albans Limited is a wholly owned subsidiary of MBERP II (Luxembourg) 27 S.à r.l. and the results of MB St Albans Limited are included in the consolidated financial statements of MBERP II (Luxembourg) 27 S.à r.l. which are publicly available at www.mb27.info.

1.3
Going concern

These accounts are not prepared on a going concern basis due to the director's exit strategy. There is no change to the income statement or statement of financial position as a result of preparing the financial statements on a basis other than going concern. true The directors will continue to meet the liabilities of the company as they fall due.

MB St Albans Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 3
1.4
Revenue

Revenue is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from sale of residential properties is recognised when the property is unconditionally transferred to the customer. Revenue from rental income represents the value of the consideration receivable on a straight-line basis over the term of the lease.

Revenue from rental income represents the value of the consideration receivable on a straight-line basis over the term of the lease.

1.5
Non-current investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.6
Cash and cash equivalents

Cash and cash equivalents comprise cash in hand and at bank, recognised initially at fair value then subsequently measured at amortised cost.

1.7
Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Income Statement.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in the Income Statement.

MB St Albans Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 4
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons employed by the company, including directors, during the year

was: nil (2023: nil)

3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
-
0
1
Movements in non-current investments
Shares in subsidiaries
£
Cost or valuation
At 1 January 2024
1
Disposals
(1)
At 31 December 2024
-
Carrying amount
At 31 December 2024
-
At 31 December 2023
1
MB St Albans Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 5
4
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Other receivables
1,107
326,364
5
Payables: amounts falling due within one year
2024
2023
£
£
Trade payables
16,614
432,744
Accruals and deferred income
8,000
13,820
24,614
446,564

6
Called up share capital
2024
2023
£
£
Ordinary share capital
16,495,543 Ordinary shares of £1 each
16,495,543
16,645,543
16,495,543
16,645,543
There was a reduction of £150,000 in share capital in the year under review - returned to shareholders
7
Related party transactions

In accordance with FRS102 section 33 paragraph 33.1A, the company has not disclosed transactions with wholly owned subsidiaries (or parent company) within the same group.

Management fees relate to recharges from Meyer Homes Limited in relation to the management costs incurred by the entity. The fees for the period amounted to £121,652 (2023: £111,755) and an amount of £3,947 (2 023: £106,125 owed from) was owed to them.

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