Company registration number 10927820 (England and Wales)
MARTELLO PROPERTY INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
PAGES FOR FILING WITH REGISTRAR
MARTELLO PROPERTY INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 9
MARTELLO PROPERTY INVESTMENTS LIMITED
BALANCE SHEET
AS AT 31 AUGUST 2025
31 August 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
301,519
352,943
Investment property
5
3,335,415
3,335,415
3,636,934
3,688,358
Current assets
Debtors
6
36,000
125,600
Cash at bank and in hand
362,833
107,798
398,833
233,398
Creditors: amounts falling due within one year
7
(326,772)
(286,651)
Net current assets/(liabilities)
72,061
(53,253)
Total assets less current liabilities
3,708,995
3,635,105
Creditors: amounts falling due after more than one year
8
(263,834)
(342,125)
Provisions for liabilities
9
(278,961)
(244,419)
Net assets
3,166,200
3,048,561
Capital and reserves
Called up share capital
10
970,000
970,000
Revaluation reserve
11
396,123
443,465
Profit and loss reserves
1,800,077
1,635,096
Total equity
3,166,200
3,048,561
MARTELLO PROPERTY INVESTMENTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2025
31 August 2025
- 2 -

For the financial year ended 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 24 November 2025 and are signed on its behalf by:
Mr J G Martello
Director
Company registration number 10927820 (England and Wales)
MARTELLO PROPERTY INVESTMENTS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2025
- 3 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 September 2023
970,000
443,465
1,619,800
3,033,265
Year ended 31 August 2024:
Profit and total comprehensive income
-
-
28,340
28,340
Dividends
-
-
(13,044)
(13,044)
Balance at 31 August 2024
970,000
443,465
1,635,096
3,048,561
Year ended 31 August 2025:
Profit
-
-
178,025
178,025
Other comprehensive income:
Tax relating to other comprehensive income
-
(47,342)
-
0
(47,342)
Total comprehensive income
-
(47,342)
178,025
130,683
Dividends
-
-
(13,044)
(13,044)
Balance at 31 August 2025
970,000
396,123
1,800,077
3,166,200
MARTELLO PROPERTY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
- 4 -
1
Accounting policies
Company information

Martello Property Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O Roscomac Ltd, Dominion Way, Worthing, West Sussex, BN14 8NW.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

The company's ability to continue to trade is dependent upon the support of its directors and the property tenant. If this assumption proves to be inappropriate, then adjustments may have to be made to adjust the value of assets to their recoverable amounts, to provide for any further liabilities which might arise and reclassify fixed assets as current assets.

1.3
Turnover

Turnover represents rental income receivable. Rental income is recognised in the period in which it is due.

1.4
Tangible fixed assets

Tangible fixed assets under the cost model a re stated at historical c ost less accumulated depreciation and any accumulated impairment losses. Historical c ost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual values over their estimated useful lives, using the straight line method.

Depreciation is provided on the following basis:

Plant and machinery
Over 25 years
Fixtures and fittings
Over 10 years
Office equipment
Over 3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

G ain s and loss es on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

MARTELLO PROPERTY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 5 -
1.5
Investment property

Investment property is caried at fair value determined annually by internal valuers with the input of a professional valuation. This is derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

The company has elected to apply the recognition and measurement provisions of IFRS9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due within the operating cycle fall into this category of financial instruments.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, trade and other payables, bank loans and other loans are initially recognised at their transaction price after transaction costs. When this c onstitutes a financing transaction, where by the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade p ayable s are classified as current liabilities if payment is due within one year. If not, they re present non-current liabilities. Trade p ayable s are recognised initially at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

MARTELLO PROPERTY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 6 -
1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the difference between the fair value of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
MARTELLO PROPERTY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 7 -
4
Tangible fixed assets
Plant and machinery
Fixtures and fittings
Office equipment
Total
£
£
£
£
Cost
At 1 September 2024
381,530
139,259
2,548
523,337
Additions
1,056
-
0
-
0
1,056
At 31 August 2025
382,586
139,259
2,548
524,393
Depreciation and impairment
At 1 September 2024
102,776
65,438
2,180
170,394
Depreciation charged in the year
38,317
13,926
237
52,480
At 31 August 2025
141,093
79,364
2,417
222,874
Carrying amount
At 31 August 2025
241,493
59,895
131
301,519
At 31 August 2024
278,754
73,821
368
352,943
5
Investment property
2025
£
Fair value
At 1 September 2024 and 31 August 2025
3,335,415

Investment property was valued in 2022 by A Nelson MRICS of SHW, on an open market value for existing use basis.

The directors consider this to be an accurate reflection of the value of the property at the year end.

6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
36,000
125,600
MARTELLO PROPERTY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 8 -
7
Creditors: amounts falling due within one year
2025
2024
£
£
Other loans
31,490
30,959
Corporation tax
70,398
28,656
Other taxation and social security
15,353
15,700
Other creditors
202,087
202,044
Accruals and deferred income
7,444
9,292
326,772
286,651
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other loans
263,834
342,125

The total loans outstanding at the year end are secured by a fixed charge on the factory premises.

Creditors which fall due after five years are as follows:
2025
2024
£
£
Payable by instalments
115,899
182,487
9
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
278,961
244,419
10
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Class A shares of £1 each
463,580
463,580
463,580
463,580
Ordinary Class B shares of £1 each
247,540
247,540
247,540
247,540
Ordinary Class C shares of £1 each
258,880
258,880
258,880
258,880
970,000
970,000
970,000
970,000
11
Revaluation reserve

The company has adopted the revaluation model for the measurement of its land and buildings. This reserve is used to record increases in the fair value of land and buildings, less any related provision for deferred tax.

MARTELLO PROPERTY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 9 -
12
Related party transactions

Roscomac Limited

(A company under the control of the directors and their close family)

During the year Roscomac Limited paid rent of £344,000 (202 4: £2 94,933) to Martello Property Investments Limited, Of this £36,000 (2024: £125,600) was due to Martello Property Investments Limited at the year end.

Roscomac Limited provided a loan to Martello Property Investments Limited. No interest or security is provided for on this loan. At the year end, Martello Property Investments Limited owed Roscomac Limited £200,000 (202 4: £200,000).

Throughout the year Roscomac Limited provided a guarantor for Martello Property Investments Limited for a £190,000 loan.

F Martello

(D irector)

During the year the company rented a property from F Martello. Total rents paid were £nil (2024: £5,100). The company also paid total consultancy fees of £nil (2024: £130,000) to F Martello and his spouse.

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