Mikado Properties Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 09905840

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		-		131
Investment Properties	5		2,258,179		1,207,381

			2,258,179		1,207,512
CURRENT ASSETS
Debtors	6	251,000		185,500
Cash at bank and in hand		4,938		1,092

		255,938		186,592
Creditors: Amounts Falling Due Within One Year	7	(1,484,396 )		(359,252 )

NET CURRENT ASSETS (LIABILITIES)			(1,228,458 )		(172,660 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,029,721		1,034,852

Creditors: Amounts Falling Due After More Than One Year	8		(897,078 )		(897,078 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(17,481 )		(17,481 )

NET ASSETS			115,162		120,293

CAPITAL AND RESERVES
Called up share capital	9		4		4
Revaluation reserve	10		74,524		74,524
Profit and Loss Account			40,634		45,765

SHAREHOLDERS' FUNDS			115,162		120,293

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Mikado Properties Ltd

Balance Sheet (continued)

As At 31 December 2024

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.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Nirvair Singh Chadha

Director

19 September 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Mikado Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09905840 . The registered office is 41 Church Street, Enfield, EN2 6AJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represent rent receiveable from investment properties.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Fixtures & Fittings

20% SLM

2.4. Investment Properties

Investment Property is measured initially at cost including transaction costs.Subsequent to initial recognition, investment property is stated at fair value. Gain or losses arising from change in the fair value are included in the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2023: NIL)

4. Tangible Assets

	Fixtures & Fittings
	£
Cost
As at 1 January 2024	652

As at 31 December 2024	652

Depreciation
As at 1 January 2024	521
Provided during the period	131

As at 31 December 2024	652

Net Book Value
As at 31 December 2024	-

As at 1 January 2024	131

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Mikado Properties Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Investment Property

	2024
	£
Fair Value
As at 1 January 2024	1,207,381
Additions	1,050,798

As at 31 December 2024	2,258,179

As per FRS 102 the director has revalued the property on the basis of current market value (fair value) which has been representated on the financial statement. The gain or loss is provided to revaluation reserve.

6. Debtors

	2024	2023
	£	£
Due within one year
Other debtors	251,000	185,500

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Other taxes and social security	658	658
Other creditors	1,483,738	358,594

	1,484,396	359,252

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	897,078	897,078

Bank loan is secured by a legal first charge over investment properties of the company.

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	4	4

10. Reserves

	Revaluation Reserve
	£
As at 1 January 2024	74,524

As at 31 December 2024	74,524

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Mikado Properties Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

11. Comparable Figures

Previous year figures have been regrouped or rearranged to make them comparable with current year figures.

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