Maestro Properties Limited 31/12/2024 iXBRL

Company registration number: 02338756

Maestro Properties Limited

Unaudited filleted financial statements

31 December 2024

Maestro Properties Limited

Contents

Directors and other information

Statement of financial position

Statement of changes in equity

Notes to the financial statements

Maestro Properties Limited

Directors and other information


	Directors	Mr A T Kasriel
		Mrs J F Kasriel


	Secretary	Mrs J F Kasriel


	Company number	02338756


	Registered office	1-3 Canfield Place
		London
		NW6 3BT


	Accountants	Passer & Co
		20 Sunningdale Close
		Stanmore
		HA7 3QL

Maestro Properties Limited

Statement of financial position

31 December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	5	2,133,039		2,133,039
		_______		_______
			2,133,039		2,133,039

Current assets
Stocks		70,454		70,454
Debtors	6	359,286		615,079
Cash at bank and in hand		1,577,663		1,324,097
		_______		_______
		2,007,403		2,009,630
Creditors: amounts falling due
within one year	7	( 104,731)		( 297,459)
		_______		_______
Net current assets			1,902,672		1,712,171
			_______		_______
Total assets less current liabilities			4,035,711		3,845,210


Provisions for liabilities			( 75,069)		( 75,069)

			_______		_______
Net assets			3,960,642		3,770,141
			_______		_______

Capital and reserves
Called up share capital			1,000		1,000
Profit and loss account			3,959,642		3,769,141
			_______		_______
Shareholders funds			3,960,642		3,770,141
			_______		_______

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

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 18 September 2025 , and are signed on behalf of the board by:

Mr A T Kasriel

Director

Company registration number: 02338756

Maestro Properties Limited

Statement of changes in equity

Year ended 31 December 2024

	Called up share capital	Profit and loss account	Total
	£	£	£


At 1 January 2023	1,000	3,548,053	3,549,053

Profit for the year		221,088	221,088
	_______	_______	_______
Total comprehensive income for the year	-	221,088	221,088

	_______	_______	_______
At 31 December 2023 and 1 January 2024	1,000	3,769,141	3,770,141

Profit for the year		190,501	190,501
	_______	_______	_______
Total comprehensive income for the year	-	190,501	190,501

	_______	_______	_______
At 31 December 2024	1,000	3,959,642	3,960,642
	_______	_______	_______

Maestro Properties Limited

Notes to the financial statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England. The address of the registered office is 1-3 Canfield Place, London, NW6 3BT.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover represents rent receivable during the year and construction projects invoiced.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Investment property

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Work in Progress

Work in Progress is measured at cost.

Construction contracts

Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end. Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred. The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).

5. Tangible assets

	Freehold property	Long leasehold property	Total
	£	£	£
Cost
At 1 January 2024 and 31 December 2024	533,039	1,600,000	2,133,039
	_______	_______	_______
Depreciation
At 1 January 2024 and 31 December 2024	-	-	-
	_______	_______	_______
Carrying amount
At 31 December 2024	533,039	1,600,000	2,133,039
	_______	_______	_______
At 31 December 2023	533,039	1,600,000	2,133,039
	_______	_______	_______

6. Debtors

	2024	2023
	£	£
Trade debtors	359,286	615,079
	_______	_______

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	-	5,000
Trade creditors	2,389	6,766
Corporation tax	63,500	62,173
Social security and other taxes	33,033	17,722
Other creditors	5,809	205,798
	_______	_______
	104,731	297,459
	_______	_______

8. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2024
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	Mr A T Kasriel	( 200,809)	200,000	( 809)
		_______	_______	_______

2023
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	Mr A T Kasriel	( 200,809)	-	( 200,809)
		_______	_______	_______

Included in Debtors is an amount of £271,491 which is in respect of services provided by the Company to the Directors and their family on normal trade terms.

9. Controlling party

The company is controlled by its Directors by virtue of their majority shareholding.