| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| FOR |
| MISAN PROPERTIES LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| FOR |
| MISAN PROPERTIES LIMITED |
| MISAN PROPERTIES LIMITED (REGISTERED NUMBER: 01010378) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| MISAN PROPERTIES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Westgate House |
| 87 St Dunstans Street |
| Canterbury |
| Kent |
| CT2 8AE |
| MISAN PROPERTIES LIMITED (REGISTERED NUMBER: 01010378) |
| ABRIDGED BALANCE SHEET |
| 31ST DECEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Share premium | 6 |
| Revaluation reserve | 6 |
| Retained earnings | 6 |
| SHAREHOLDERS' FUNDS | 7 |
| 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. |
| MISAN PROPERTIES LIMITED (REGISTERED NUMBER: 01010378) |
| ABRIDGED BALANCE SHEET - continued |
| 31ST DECEMBER 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| MISAN PROPERTIES LIMITED (REGISTERED NUMBER: 01010378) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Misan Properties Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| The company's functional currency is the Pound Sterling (£). |
| The principal activity of the Company is property investment. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents amounts invoiced net of Value Added Tax from Operating Leases and is recognised as the company's right to receive payment is established. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| Depreciation is provided on tangible fixed assets at annual rates calculated to write off the cost of each |
| asset evenly over its expected useful life as follows:- |
| Furnishings 10% reducing balance method |
| Office Equipment 33 1/3% straight line basis |
| Investment properties |
| Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in the profit or loss account. |
| 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. |
| MISAN PROPERTIES LIMITED (REGISTERED NUMBER: 01010378) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Debtors and creditors receivable / payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST OR VALUATION |
| At 1st January 2024 |
| Additions |
| Revaluations |
| At 31st December 2024 |
| DEPRECIATION |
| At 1st January 2024 |
| Charge for year |
| At 31st December 2024 |
| NET BOOK VALUE |
| At 31st December 2024 |
| At 31st December 2023 |
| MISAN PROPERTIES LIMITED (REGISTERED NUMBER: 01010378) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Cost or valuation at 31st December 2024 is represented by: |
| Totals |
| £ |
| Valuation in 2002 | 741,768 |
| Valuation in 2005 | 440,000 |
| Valuation in 2015 | (720,326 | ) |
| Valuation in 2017 | 124,000 |
| Valuation in 2018 | 140,000 |
| Valuation in 2019 | 734,594 |
| VAluation in 2024 | 10,000 |
| Cost | 1,988,816 |
| 3,458,852 |
| The aggregate and carrying amounts if historical cost accounting rules had been used are as follows: |
| 2024 | 2023 |
| £ | £ |
| Freehold | 1,771,625 | 1,376,874 |
| Long leasehold | 217,191 | 217,191 |
| 1,988,816 | 1,594,065 |
| Investment properties were valued by BTF Partnership at December 2024 using the "desk-top" assessment method. There was a small change in the values arrived at compared to the previous valuation. |
| Investment Properties are all held for use in operating leases. |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | 10p | 1,000 | 1,000 |
| B Ordinary | 10p | 900 | 900 |
| 1,900 | 1,900 |
| 6. | RESERVES |
| Retained | Share | Revaluation |
| earnings | premium | reserve | Totals |
| £ | £ | £ | £ |
| At 1st January 2024 | 3,373,430 |
| Profit for the year | - | - |
| Dividends | ( |
) | - | - | ( |
) |
| Transfer between reserves | (5,636 | ) | - | 5,636 | - |
| At 31st December 2024 | 3,474,488 |
| MISAN PROPERTIES LIMITED (REGISTERED NUMBER: 01010378) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| 7. | RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS |
| 2024 | 2023 |
| £ | £ |
| Profit for the financial year |
| Dividends | ( |
) | ( |
) |
| Net addition to shareholders' funds | 101,058 | 98,921 |
| Opening shareholders' funds | 3,375,330 | 3,276,409 |
| Closing shareholders' funds | 3,476,388 | 3,375,330 |