Melwood Lettings Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 12117256

MELWOOD LETTINGS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2024

MELWOOD LETTINGS LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

Contents	Page

Balance sheet 1

Notes to the financial statements 2

MELWOOD LETTINGS LIMITED

BALANCE SHEET

31 December 2024

	2024	2023
		(restated)
Note	£	£

Fixed assets

Tangible assets	4	4,300,473	3,000,000

Current assets

Debtors	5	17,816	17,330
Cash at bank and in hand		7,054	5,401
		------------	------------
		24,870	22,731

Creditors: amounts falling due within one year	6	( 1,996,652)	( 2,064,791)
		------------	------------
Net current liabilities		( 1,971,782)	( 2,042,060)
		------------	------------
Total assets less current liabilities		2,328,691	957,940

Provisions	( 482,000)	( 157,000)
	------------	------------
Net assets	1,846,691	800,940
	------------	------------

Capital and reserves

Called up share capital	9	100	100
Non-distributable reserve		1,442,880	467,880
Profit and loss account		403,711	332,960
		------------	------------
Shareholders funds		1,846,691	800,940
		------------	------------

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 profit and loss account has not been delivered.

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 were approved by the board of directors and authorised for issue on 22 September 2025 , and are signed on behalf of the board by:

A Dobson R I Taylor

Director Director

Company registration number: 12117256

MELWOOD LETTINGS 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 and Wales. The address of the registered office is 23 Primrose Lane, Kirkburton, Huddersfield, HD8 0QY.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Consolidation

In the opinion of the directors, the company and its parent undertaking comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents the total amount of rents receivable.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at the date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Freehold investment properties which are 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 equity, 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 equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:

	Office equipment	-	33% straight line

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Tangible assets

	Freehold investment properties	Office equipment	Total
	£	£	£
Cost or valuation
At 1 January 2024 (as restated)	3,000,000	4,833	3,004,833
Additions	–	710	710
Revaluations	1,300,000	–	1,300,000
	------------	------------	------------
At 31 December 2024	4,300,000	5,543	4,305,543
	------------	------------	------------
Depreciation
At 1 January 2024	–	4,833	4,833
Charge for the year	–	237	237
	------------	------------	------------
At 31 December 2024	–	5,070	5,070
	------------	------------	------------
Carrying amount
At 31 December 2024	4,300,000	473	4,300,473
	------------	------------	------------
At 31 December 2023	3,000,000	–	3,000,000
	------------	------------	------------

Freehold investment properties are valued by the director, A Dobson . The historic cost of freehold investment properties at 31 December 2024 is £2,375,120 (2023: £2,375,120).

5. Debtors

	2024	2023
		(restated)
	£	£
Prepayments and accrued income	2,766	2,580
Other debtors	15,050	14,750
	------------	------------
	17,816	17,330
	------------	------------

6. Creditors: amounts falling due within one year

	2024	2023
		(restated)
	£	£
Accruals and deferred income	18,830	90,479
Corporation tax	20,800	16,000
Director's loan account (note 10)	31,863	31,912
Other creditors (note 10)	1,925,159	1,926,400
	------------	------------
	1,996,652	2,064,791
	------------	------------

7. Deferred tax

The deferred tax included in the balance sheet is as follows:

	2024	2023
		(restated)
	£	£
Included in provisions	482,000	157,000
	------------	------------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
		(restated)
	£	£
Fair value adjustment of financial assets	482,000	157,000
	------------	------------

8. Prior period adjustment

Prior year adjustment relates to the restatement to fair value of freehold investment properties. Freehold investment properties are valued by the director, A Dobson.

9. Called up share capital

Issued, called up and fully paid

	2024		2023
			(restated)
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	------------	------------	------------	------------

10. Related party transactions

Transactions with directors Included in creditors is a loan from the director, R Taylor, in the amount of £31,863 (2023: £31,912). A Dobson is a director of Melwood Limited and controls that company. Included in other creditors is a loan due to Melwood Limited in the amount of £1,664,153 (2023: £1,665,394). Interest on the loan was charged during the year and amounted to £66,000 (2023: £72,000). R Taylor is a director of RBR Limited and holds 60% of that company's ordinary share capital. Included in other creditors is a loan due to RBR Limited in the amount of £261,006 (2023: £261,006).

11. Parent company

The company is a wholly-owned subsidiary of Melwood 2 Limited. There is no one controlling party of this company.