REGISTERED NUMBER: 01554284 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

METESHIRE LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs F R Lerner

C Lerner

I M Lerner

SECRETARY:

Mrs F R Lerner

REGISTERED OFFICE:

115 Craven Park Road

South Tottenham

London

N15 6BL

REGISTERED NUMBER:

01554284 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

London

N15 6BL

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

5,754,685

5,747,519

5,754,685

5,747,519

CURRENT ASSETS

Debtors

6

7,518,028

7,207,350

Cash at bank

27,249

7,411

7,545,277

7,214,761

CREDITORS

Amounts falling due within one year

7

(353,576

)

(298,647

)

NET CURRENT ASSETS

7,191,701

6,916,114

TOTAL ASSETS LESS CURRENT LIABILITIES

12,946,386

12,663,633

CREDITORS

Amounts falling due after more than one year

8

(4,156,705

)

(4,199,357

)

PROVISIONS FOR LIABILITIES

(695,651

)

(695,651

)

NET ASSETS

8,094,030

7,768,625

CAPITAL AND RESERVES

Called up share capital

10

100

100

Revaluation reserve

11

4,092,063

4,092,063

Other reserves

11

180,959

180,959

Retained earnings

11

3,820,908

3,495,503

SHAREHOLDERS' FUNDS

8,094,030

7,768,625

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 December 2025 and were signed on its behalf by:

C Lerner - Director

I M Lerner - Director

1.	STATUTORY INFORMATION

Meteshire 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 (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention except for the assets and liabilities which are required by FRS 102 to be stated at fair value.

Turnover

Turnover represent net rent receivable excluding value added tax.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

property

fittings

Totals

£

£

£

COST

At 1 March 2024

and 28 February 2025

275,456

9,000

284,456

DEPRECIATION

At 1 March 2024

and 28 February 2025

275,456

9,000

284,456

NET BOOK VALUE

At 28 February 2025

-

-

-

At 29 February 2024

-

-

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2024

5,747,519

Additions

7,166

At 28 February 2025

5,754,685

NET BOOK VALUE

At 28 February 2025

5,754,685

At 29 February 2024

5,747,519

Fair value at 28 February 2025 is represented by:

£

Valuation in 2015

3,717,069

Valuation in 2017

374,994

Cost

1,662,622

5,754,685

The company's investment properties were revalued by Cushman & Wakefield (specialist independent valuer) as at 12 April 2017.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Trade debtors

2,443

-

Other debtors

7,515,585

7,207,350

7,518,028

7,207,350

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Trade creditors

60,708

60,710

Taxation and social security

172,850

115,319

Other creditors

120,018

122,618

353,576

298,647

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.25

29.2.24

£

£

Other creditors

4,156,705

4,199,357

9.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.25

29.2.24

£

£

Other loans

2,750,516

2,793,168

The company's investment properties are charged to Mount Street Mortgage Servicing Limited on behalf of LV Commercial Mortgages Ltd.

Farcastle Ltd, an associated company is the borrower and Meteshire Limited and other associated companies are guarantors.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.25

29.2.24

value:

£

£

100

Ordinary Shares

£1

100

100

11.

RESERVES

Retained

Revaluation

Other

earnings

reserve

reserves

Totals

£

£

£

£

At 1 March 2024

3,495,503

4,092,063

180,959

7,768,525

Profit for the year

325,405

325,405

At 28 February 2025

3,820,908

4,092,063

180,959

8,093,930

12.	RELATED PARTY DISCLOSURES

Other debtors include £7,242,332 (2024 - £6,858,268 due from associated Company Farcastle Ltd.

Included in the creditors due more than one year is the sum of £1,406,189 (2024 - £1,406,189) due to Creston Ltd a company where Mr C & Mrs F R Lerner are directors and shareholders.

During the year under review, the Company paid management fees to associated companies. The nature and amount of the transactions are disclosed below.

1. Earlward Ltd (I M Lerner is the director) - £0 (2024 - £4,000)

2. Oakleaf Limited (I M Lerner is the director) - £17,750 (2024 - £8.800)