REGISTERED NUMBER: 04054885 (England and Wales)

MISTLEMORE PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

G D Bennett

W N Mason-Jones

REGISTERED OFFICE:

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

REGISTERED NUMBER:

04054885 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

FIXED ASSETS

Investments

4

1

1

Investment property

5

2,690,000

2,265,000

2,690,001

2,265,001

CURRENT ASSETS

Debtors

6

1,297

1,181

Cash at bank

43,568

173,606

44,865

174,787

CREDITORS

Amounts falling due within one year

7

226,229

201,376

NET CURRENT LIABILITIES

(181,364

)

(26,589

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,508,637

2,238,412

CREDITORS

Amounts falling due after more than one year

8

(281,928

)

(303,737

)

PROVISIONS FOR LIABILITIES

(272,700

)

(166,450

)

NET ASSETS

1,954,009

1,768,225

CAPITAL AND RESERVES

Called up share capital

11

1,000

1,000

Fair value reserve

12

1,402,298

1,083,548

Retained earnings

12

550,711

683,677

SHAREHOLDERS' FUNDS

1,954,009

1,768,225

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 and authorised for issue by the Board of Directors and authorised for issue on 11 September 2025 and were signed on its behalf by:

G D Bennett - Director

W N Mason-Jones - Director

1.	STATUTORY INFORMATION

Mistlemore Properties 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 presentation currency of the financial statements is the Pound Sterling (£).

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.

Investment property

Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the income statement and the fair value reserve. No depreciation is provided in respect of investment properties.

Financial instruments

The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Market value of unlisted investments at 31st March 2025 - £1 (2024 - £1).

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

2,265,000

Revaluations

425,000

At 31 March 2025

2,690,000

NET BOOK VALUE

At 31 March 2025

2,690,000

At 31 March 2024

2,265,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2018

1,015,001

Valuation in 2024

1,249,999

Valuation in 2025

425,000

2,690,000

The investment property was valued by a director having considered the fair value of recent, comparable property sales in the local area.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Prepayments and accrued income

1,297

1,181

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 9)

13,648

11,694

Taxation

32,339

21,202

Amounts due to related parties

75,000

75,000

Directors' current accounts

75,000

75,000

Accrued expenses

30,242

18,480

226,229

201,376

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 9)

281,928

303,737

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

217,844

249,016

9.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank loans

13,648

11,694

Amounts falling due between one and two years:

Bank loans - 1-2 years

14,537

-

Amounts falling due between two and five years:

Bank loans - 2-5 years

49,547

54,721

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

217,844

249,016

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

295,576

315,431

The bank and building society loans are secured against individual investment properties of the company.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

500

"A" Ordinary

£1

500

500

500

"B" Ordinary

£1

500

500

1,000

1,000

12.

RESERVES

The aggregate surplus on re-measurement of investment properties, net of associated deferred tax, is transferred to a separate non-distributable fair value reserve in order to assist with the identification of profits available for distribution.

13.	RELATED PARTY AND DIRECTORS LOANS

During the year Mr W N Mason Jones, who is a director of the company, made a personal loan to the company to finance the repayment of a company bank loan. Interest is being paid at 1% above bank base rate.

During the year Longmore Properties Limited, of which Mr G D Bennett is a director, made a loan to the company to finance the repayment of a company bank loan. Interest is being paid at 1% above bank base rate.