Registration number: 08163503

MSM Property Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

MSM Property Limited

(Registration number: 08163503)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	1,249,500	1,275,000
Current assets
Debtors	5	1,357,397	107,629
Cash at bank and in hand		84,205	60,213
		1,441,602	167,842
Creditors: Amounts falling due within one year	6	(8,401)	(10,091)
Net current assets		1,433,201	157,751
Total assets less current liabilities		2,682,701	1,432,751
Creditors: Amounts falling due after more than one year	6	(1,677,329)	(410,373)
Provisions for liabilities		(146,887)	(151,732)
Net assets		858,485	870,646
Capital and reserves
Called up share capital		100	100
Revaluation reserve		640,940	646,857
Retained earnings		217,445	223,689
Shareholders' funds		858,485	870,646

MSM Property Limited

(Registration number: 08163503)
Balance Sheet as at 31 December 2024

For the financial 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.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 September 2025
 

......................................... Mr A Wilcox Director

MSM Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Waidshouse Mill
Townsley Street
Nelson
Lancashire
BB9 0RY
England

These financial statements were authorised for issue by the director on 30 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared in sterling (£) using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants in relation to tangible fixed assets are credited to the profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to the profit and loss.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

MSM Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land and buildings	2% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

MSM Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 2).

MSM Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Land and buildings £	Total £
Cost or valuation
At 1 January 2024	1,336,692	1,336,692
At 31 December 2024	1,336,692	1,336,692
Depreciation
At 1 January 2024	61,692	61,692
Charge for the year	25,500	25,500
At 31 December 2024	87,192	87,192
Carrying amount
At 31 December 2024	1,249,500	1,249,500
At 31 December 2023	1,275,000	1,275,000

Included within the net book value of land and buildings above is £1,249,500 (2023 - £1,275,000) in respect of freehold land and buildings.
 

Revaluation

The fair value of the company's Buildings was revalued on 24 April 2024 by an independent valuer. . The name and qualification of the independent valuer are Armitstead Barnett LLP - Royal Institution of Chartered Surveyors.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £456,121 (2023 - £466,883).

5

Debtors

	Note	2024 £	2023 £
Amounts owed by related parties	9	1,357,362	107,595
Other debtors		35	34
		1,357,397	107,629

MSM Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Amounts owed to group undertakings and undertakings in which the company has a participating interest	9	5,689	5,689
Taxation and social security		1,993	3,683
Accruals and deferred income		525	525
Other creditors		194	194
		8,401	10,091

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	8	1,677,329	410,373

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

	Revaluation reserve £	Retained earnings £	Total £
Surplus/deficit on property, plant and equipment revaluation	4,845	10,762	15,607
Surplus/deficit on revaluation of other assets	(10,762)	-	(10,762)
	(5,917)	10,762	4,845

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

	Revaluation reserve £	Total £
Surplus/deficit on property, plant and equipment revaluation	646,857	646,857

MSM Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	1,677,329	410,373

9	Related party transactions

Summary of transactions with parent

Wilcox Holdings Ltd Loan advance

Summary of transactions with subsidiaries

Transactions with Group Companies
MSM Fabrications Ltd
Urban Street Design Ltd Loan advance and rental charges

Income and receivables from related parties

2024	Subsidiary £
Receipt of services	82,950
Amounts receivable from related party	57,362

Loans to related parties

2024	Parent £	Total £
Advanced	1,300,000	1,300,000
At end of period	1,300,000	1,300,000

Loans from related parties

2024	Subsidiary £	Total £
Advanced	5,689	5,689
At end of period	5,689	5,689