Middle Street Properties Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 8

Middle Street Properties Limited

Company Information

Directors

D Glanville Mrs A Glanville

Company secretary

Mrs A Glanville

Registered office

Unity Chambers 34 High East Street Dorchester Dorset DT1 1HA

Accountants

Edwards and Keeping Limited Chartered Accountants Unity Chambers 34 High East Street Dorchester Dorset DT1 1HA

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Middle Street Properties Limitedfor the Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Middle Street Properties Limited for the year ended 31 March 2025 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Middle Street Properties Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Middle Street Properties Limited and state those matters that we have agreed to state to the Board of Directors of Middle Street Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Middle Street Properties Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Middle Street Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Middle Street Properties Limited. You consider that Middle Street Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Middle Street Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Edwards and Keeping Limited
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

16 October 2025

Middle Street Properties Limited

(Registration number: 00620543)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	6,812,738	6,806,883
Current assets
Debtors	5	1,698	2,475
Cash at bank and in hand		46,209	34,620
		47,907	37,095
Creditors: Amounts falling due within one year	6	(943,875)	(907,981)
Net current liabilities		(895,968)	(870,886)
Total assets less current liabilities		5,916,770	5,935,997
Creditors: Amounts falling due after more than one year	6	(1,150,000)	(1,150,000)
Provisions for liabilities		(514,920)	(514,920)
Net assets		4,251,850	4,271,077
Capital and reserves
Called up share capital	7	1,205	1,205
Share premium reserve		995	995
Fair value reserve		1,548,718	1,548,718
Profit and loss account		2,700,932	2,720,159
Shareholders' funds		4,251,850	4,271,077

For the financial year ending 31 March 2025 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 Board on 14 October 2025 and signed on its behalf by:
 

D Glanville Director

Mrs A Glanville Company secretary and director

Middle Street Properties Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025

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:
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA
England

The principal place of business is:
Hatts Farm
Semley
Shaftesbury
Dorset
SP7 9AD

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 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.

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.

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.

Middle Street Properties Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

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
Fixtures, fittings and equipment	15% reducing balance basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable property determined annually by the company's directors. Changes in fair value are recognised in profit or loss.

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 goods sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at transaction price 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.

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Middle Street Properties Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025 (continued)

4	Tangible assets

	Investment properties £	Furniture, fittings and equipment  £	Other unlisted investments £	Total £
Cost or valuation
At 1 April 2024	5,310,000	17,927	1,490,274	6,818,201
Additions	-	541	6,387	6,928
At 31 March 2025	5,310,000	18,468	1,496,661	6,825,129
Depreciation
At 1 April 2024	-	11,318	-	11,318
Charge for the year	-	1,073	-	1,073
At 31 March 2025	-	12,391	-	12,391
Carrying amount
At 31 March 2025	5,310,000	6,077	1,496,661	6,812,738
At 31 March 2024	5,310,000	6,609	1,490,274	6,806,883

Revaluations
The investment properties class of fixed assets was revalued on 31 March 2025 by David Glanville who is internal to the company. The basis of this valuation was an estate agents' price guide. This class of assets has a current value of £5,310,000 (2024 - £5,310,000) and a carrying amount at historical cost of £2,975,265 (2024 - £2,975,265). The depreciation on this historical cost is £nil (2024 - £nil).
 

Middle Street Properties Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025 (continued)

5

Debtors

	2025 £	2024 £
Prepayments	1,698	2,475
	1,698	2,475

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Amounts owed to directors		432,681	380,554
Taxation and social security		2,915	2,993
Corporation tax		49,156	46,083
Other creditors		438,913	458,337
Receipts in advance		20,210	20,014
		943,875	907,981
Due after one year
Loans and borrowings	8	1,150,000	1,150,000

Creditors amount falling due after more than one year includes bank loans of £1,150,000 (2024 - £1,150,000) on which security has been given by the company.

The company's £750,000 bank loan is secured by a first legal charge dated 15/04/15 over commercial property known as Land on the North Side of Nazeing Road Nazeing, Unit 24F Wincombe Business Park Shaftesbury, Unit 22B Wincombe Business Park Shaftesbury and Unit 25C Longmead Industrial Estate Shaftesbury and a debenture dated 15/04/15 incorporating a fixed and floating charge.

The company took out a new bank loan for £400,000 in August 2020 which is secured by a first legal charge dated 06/08/2020 over commercial property known as 5 & 6 Edison Road, Churchfields Industrial Estate, Salisbury.
 

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	1,150,000	1,150,000

Middle Street Properties Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025 (continued)

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary A shares of £1 each	1,190	1,190	1,190	1,190
Ordinary B shares of £1 each	15	15	15	15
	1,205	1,205	1,205	1,205

8	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Other borrowings	360,058	363,730

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	1,150,000	1,150,000

9

Dividends

Final dividends paid

		2025 £		2024 £
Final dividend of £124.00 per each Ordinary 'A'		147,560		147,560
Final dividend of £2,800.00 (2024 - £5,000.00) per each Ordinary 'B'		14,000		75,000
		161,560		222,560