Registration number: 05399664

Molae Properties Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 9

Molae Properties Limited

(Registration number: 05399664)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	8,949	1,993
Investment property	5	6,178,417	6,397,417
		6,187,366	6,399,410
Current assets
Debtors	6	2,627	1,836
Cash at bank and in hand		56,789	25,669
		59,416	27,505
Creditors: Amounts falling due within one year	7	(267,239)	(266,932)
Net current liabilities		(207,823)	(239,427)
Total assets less current liabilities		5,979,543	6,159,983
Creditors: Amounts falling due after more than one year	7	(3,539,890)	(3,670,802)
Provisions for liabilities		(453,534)	(474,072)
Net assets		1,986,119	2,015,109
Capital and reserves
Called up share capital	8	100	100
Retained earnings		1,986,019	2,015,009
Shareholders' funds		1,986,119	2,015,109

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.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Molae Properties Limited

(Registration number: 05399664)
Balance Sheet as at 31 March 2025

Approved and authorised by the director on 6 November 2025
 

......................................... Mr J Mills Director

Molae Properties Limited

Notes to the 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:
30 St Giles'
Oxford
OX1 3LE

The principal place of business is:
40 Fitzwilliam Road
London
SW4 0DN

These financial statements were authorised for issue by the director on 6 November 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 using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Molae Properties Limited

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

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
Plant and machinery	20% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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. 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.

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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.

Molae Properties Limited

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

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

Molae Properties Limited

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

4	Tangible assets

	Plant and machinery £	Total £
Cost or valuation
At 1 April 2024	13,407	13,407
Additions	9,431	9,431
At 31 March 2025	22,838	22,838
Depreciation
At 1 April 2024	11,414	11,414
Charge for the year	2,475	2,475
At 31 March 2025	13,889	13,889
Carrying amount
At 31 March 2025	8,949	8,949
At 31 March 2024	1,993	1,993

5	Investment properties

	2025 £
At 1 April and 31 March	6,397,417
Disposals	(219,000)
At 31 March	6,178,417

6

Debtors

	2025 £	2024 £
Prepayments	2,627	1,836
	2,627	1,836

Molae Properties Limited

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

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	11,337	11,057
Amounts owed to group undertakings and undertakings in which the company has a participating interest	13	221,183	231,581
Taxation and social security		680	353
Accruals and deferred income		17,193	23,142
Other creditors		16,846	799
		267,239	266,932

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	3,539,890	3,670,802

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	97	97	97	97
A Ordinary shares of £1 each	2	2	2	2
B Ordinary share of £1 each	1	1	1	1
	100	100	100	100

Molae Properties Limited

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

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	11,633	22,970
Other borrowings	3,528,257	3,647,832
	3,539,890	3,670,802

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	11,337	11,057

10	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	10,785	10,785

The amount of non-cancellable operating lease payments recognised as an expense during the year was £10,895 (2024 - £10,785).

11

Dividends

Interim dividends paid

		2025 £		2024 £
Interim dividend of £Nil per each Ordinary A share		-		-
Interim dividend of £351.55 (2024 - £412.37) per each Ordinary share		34,100		40,000
		34,100		40,000

Molae Properties Limited

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

12	Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are financial commitments of £3,528,257 (2024 - £3,647,832). These liabilities have been secured against the company's investment properties.

13	Related party transactions

Summary of transactions with other related parties

Directors At the year end the company owed the director £216,231 (2024: £231,581).