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Millerbrook Properties Limited
Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 04433361
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,503,097 1,501,252
Investments 5 102 102
1,503,199 1,501,354
CURRENT ASSETS
Stocks 6 - 50,000
Debtors 7 288,910 329,181
Cash at bank and in hand 339,624 257,085
628,534 636,266
Creditors: Amounts Falling Due Within One Year 8 (1,953,266 ) (2,190,820 )
NET CURRENT ASSETS (LIABILITIES) (1,324,732 ) (1,554,554 )
TOTAL ASSETS LESS CURRENT LIABILITIES 178,467 (53,200 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (57,305 ) (57,305 )
NET ASSETS/(LIABILITIES) 121,162 (110,505 )
CAPITAL AND RESERVES
Called up share capital 9 99 99
Income Statement 121,063 (110,604 )
SHAREHOLDERS' FUNDS 121,162 (110,505)
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Antony Hodari
Director
1 December 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Millerbrook Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04433361 . The registered office is 83 Fountain Street, 3rd Floor, Manchester, M2 2EE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 4 years
Fixtures & Fittings 4 years
Computer Equipment 4 years
2.4. Investment Properties
All investment properties are carried at fair value determined annually and 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 for. Changes in fair value are recognised in the income statement.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2024: NIL)
- -
4. Tangible Assets
Investment Properties Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2024 1,500,000 6,147 26,831 1,096 1,534,074
Additions - - 4,017 - 4,017
As at 31 March 2025 1,500,000 6,147 30,848 1,096 1,538,091
Depreciation
As at 1 April 2024 - 6,070 25,793 959 32,822
Provided during the period - 77 1,958 137 2,172
As at 31 March 2025 - 6,147 27,751 1,096 34,994
Net Book Value
As at 31 March 2025 1,500,000 - 3,097 - 1,503,097
As at 1 April 2024 1,500,000 77 1,038 137 1,501,252
5. Investments
Unlisted
£
Cost or Valuation
As at 1 April 2024 102
As at 31 March 2025 102
Provision
As at 1 April 2024 -
As at 31 March 2025 -
Net Book Value
As at 31 March 2025 102
As at 1 April 2024 102
Fixed asset investments are shown at cost less amounts written off.
Provisions are made for permanent fluctuations in value.
6. Stocks
2025 2024
£ £
Finished goods - 50,000
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Page 5
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 216,992 256,000
Prepayments and accrued income 11,403 11,512
Other debtors 60,515 61,669
288,910 329,181
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 554 292
Corporation tax 76,619 23,345
Other creditors 30,766 51,795
Accruals and deferred income 13,418 5,402
Director's loan account 2,000 2,000
Amounts owed to group undertakings 1,829,909 2,107,986
1,953,266 2,190,820
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 99 99
10. Related Party Transactions
Included in Creditors is £1,829,909 (2024 £2,107,985) due to Flairfax Ltd, the company's parent. Included in creditors is £2,000 (2024 £2,000) due to Director Anthony Hodari.
Included in Creditors is £781 (2024 £281) due to Millerbrook Investments Ltd. Millerbrook Investments Ltd is a 100% subsidiary of Millerbrook Properties Ltd.
Included in Other Debtors is £52,731 (2024 £53,581) due from Millerbrook Property Management Ltd. Millerbrook Property Management Ltd is a 100% subsidiary of Millerbrook Properties Ltd.
11. Ultimate Controlling Party
The company's ultimate controlling party is Flairfax Limited by virtue of his ownership of 100% of the issued share capital in the company and is controlled by Mr Antony Hodari and members of his family.
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