| Melinda Property Investments 2 Limited |
| Registered number: |
14652321 |
| Balance Sheet |
| as at 31 March 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
1,430,000 |
|
|
517,962 |
|
| Current assets |
| Debtors |
4 |
|
62,176 |
|
|
204 |
| Cash at bank and in hand |
|
|
15,434 |
|
|
20,420 |
|
|
|
77,610 |
|
|
20,624 |
|
| Creditors: amounts falling due within one year |
5 |
|
(42,054) |
|
|
(472,374) |
|
| Net current assets/(liabilities) |
|
|
|
35,556 |
|
|
(451,750) |
|
| Total assets less current liabilities |
|
|
|
1,465,556 |
|
|
66,212 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(1,292,073) |
|
|
(72,016) |
|
| Provisions for liabilities |
|
|
|
(54,554) |
|
|
- |
|
| Net liabilities |
|
|
|
118,929 |
|
|
(5,804) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Non-distributable fair value reserve |
|
|
|
223,771 |
|
|
- |
| Profit and loss account |
|
|
|
(104,942) |
|
|
(5,904) |
|
| Shareholders' funds |
|
|
|
118,929 |
|
|
(5,804) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| L Wheeler |
| Director |
| Approved by the board on 13 August 2025 |
|
| Melinda Property Investments 2 Limited |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
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). |
|
|
Investment properties |
|
Investment Properties are included at fair value. Changes in fair value are recognised in the profit and loss account. Deferred tax is provided on any gains or losses at the rate expected to apply when the property is sold. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Related party disclosures |
|
The company is a wholly owned subsidiary of Melinda Property Services Limited. The company has therefore taken advantage of the exemption in Financial Reporting Standard 102 (as applied to small entities by Section 1A of the standard) from the requirement to disclose transactions with other wholly owned subsidiaries in the Group and the parent company. |
|
|
|
|
|
|
|
|
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible assets |
|
|
|
|
|
|
|
|
Investment Property |
| £ |
|
Valuation |
|
At 1 April 2024 |
517,962 |
|
Additions |
641,713 |
|
Revaluation |
278,325 |
|
Disposals |
(8,000) |
|
At 31 March 2025 |
1,430,000 |
|
|
|
|
|
|
|
|
|
|
The company purchased a property in October 2024 for a total consideration of £641,713 including transaction costs. |
|
|
The company sold the freehold land in December 2024 for a total consideration of £8,000 resulting in a loss on disposal of £1,935, which is reported within loss on disposal of investment properties in the profit and loss account. |
|
|
In accordance with FRS 102, the directors have assessed the fair value of the properties held by the company. The assessment has resulted in an increase in valuation of the investment property by £278,325 for the year ended 31 March 2025 (2024: £nil). |
|
|
The directors do not hold a relevant professional qualification but have in excess of 20 years of property experience. The directors used their judgement of the property market, including their experience of recent transactions involving similar properties. The directors also made reference to recent external valuations of the property completed within the last two years in addition to discussions with local estate agents. |
|
|
| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Deferred tax asset |
|
|
|
|
42,410 |
|
- |
|
Other debtors |
19,766 |
|
204 |
|
|
|
|
|
|
62,176 |
|
204 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade creditors |
26,936 |
|
468,062 |
|
Other creditors |
15,118 |
|
4,312 |
|
|
|
|
|
|
42,054 |
|
472,374 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Amounts owed to group undertakings |
|
1,292,073 |
|
72,016 |
|
|
|
|
|
|
1,292,073 |
|
72,016 |
|
|
|
|
|
|
|
|
|
|
Amounts owed to group undertakings are unsecured, interest free and repayable on demand. For the year ended 31 March 2025, the amounts owed to group undertakings have been classified as falling due after one year as the parent company has confirmed it will not seek repayment within 12 months. |
|
|
| 7 |
Controlling party |
|
|
The immediate parent undertaking is Melinda Property Services Limited. The ultimate controlling parties are L Wheeler and C Williams, by virtue of their majority shareholding in Melinda Property Services Limited. |
|
|
| 8 |
Other information |
|
|
Melinda Property Investments 2 Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
9 Park Place |
|
Newdigate Road |
|
Harefield |
|
Middlesex |
|
UB9 6EJ |