REGISTERED NUMBER: 04374565 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

MINSTER INDUSTRIAL PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr Michael John Singleton

Mr Timothy Stuart Marshall

Mr Henry Clive Richardson

SECRETARY:

Mr Timothy Stuart Marshall

REGISTERED OFFICE:

56 Gladstone Lane

Scarborough

North Yorkshire

YO12 7BS

REGISTERED NUMBER:

04374565 (England and Wales)

ACCOUNTANTS:

Fortus Limited

Business Advisors & Accountants

5 & 6 Manor Garth

Manor Court

Scarborough

North Yorkshire

YO11 3TU

FIXED ASSETS

Tangible assets

4

3,671

-

Investment property

5

3,350,484

3,599,484

3,354,155

3,599,484

CURRENT ASSETS

Debtors

6

54,284

50,082

Cash at bank

42,323

31,738

96,607

81,820

CREDITORS

Amounts falling due within one year

7

539,374

766,931

NET CURRENT LIABILITIES

(442,767

)

(685,111

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,911,388

2,914,373

PROVISIONS FOR LIABILITIES

94,202

67,250

NET ASSETS

2,817,186

2,847,123

CAPITAL AND RESERVES

Called up share capital

999

999

Fair value reserve

908,122

925,869

Retained earnings

1,908,065

1,920,255

2,817,186

2,847,123

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the Company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by:

Mr Michael John Singleton - Director

1.	STATUTORY INFORMATION

Minster Industrial Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The level of rounding used in the financial statements is to the nearest £1.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

The turnover shown in the profit and loss account represents the total invoice value, excluding value added tax, of sales made during the year. Sales are recognised in the profit and loss account in the period in which the work is carried out and rents receivable are recognised in the profit and loss account in the period to which they relate.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Fixtures, fittings and equipment

-

20% on cost

Investment property

Investment properties are properties held to earn rentals or for capital appreciation or both.

Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss in the period in which they arise. Deferred taxation is provided on these gains.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern - basis of preparation

In assessing the appropriateness of the application of the going concern basis, the directors have considered the uncertainties around the general economic environment, the current and future trading performance of the company and available cash. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, accordingly they continue to adopt the going concern basis in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

Plant and

and

machinery

equipment

Totals

£

£

£

COST

At 1 March 2024

49,337

53,764

103,101

Additions

-

4,061

4,061

At 28 February 2025

49,337

57,825

107,162

DEPRECIATION

At 1 March 2024

49,337

53,764

103,101

Charge for year

-

390

390

At 28 February 2025

49,337

54,154

103,491

NET BOOK VALUE

At 28 February 2025

-

3,671

3,671

At 29 February 2024

-

-

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2024

3,599,484

Disposals

(249,000

)

At 28 February 2025

3,350,484

NET BOOK VALUE

At 28 February 2025

3,350,484

At 29 February 2024

3,599,484

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

31,581

34,897

Prepayments and accrued income

22,703

15,185

54,284

50,082

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

14,736

21,466

Corporation tax

21,048

-

Social security and other taxes

(144

)

248

VAT

4,447

4,433

Other creditors

15,273

30,442

Directors' current accounts

425,000

651,054

Accruals and deferred income

59,014

59,288

539,374

766,931