REGISTERED NUMBER: 01585418 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

MADGECOURT LIMITED

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Miss Dina Hamalis

Mr Angelo Hamalis

REGISTERED OFFICE:

c/o Michael Filiou Ltd

Salisbury House

81 High Street

Potters Bar

Hertfordshire

EN6 5AS

REGISTERED NUMBER:

01585418 (England and Wales)

ACCOUNTANTS:

Michael Filiou Ltd

Chartered Certified Accountants

www.michaelfiliou.com

Salisbury House

81 High Street

Potters Bar

Hertfordshire

EN6 5AS

FIXED ASSETS

Tangible assets

5

-

-

Investment property

6

2,657,000

2,657,000

2,657,000

2,657,000

CURRENT ASSETS

Debtors

517,413

433,000

Cash at bank

3,648

45,961

521,061

478,961

CREDITORS

Amounts falling due within one year

1,033,445

1,118,975

NET CURRENT LIABILITIES

(512,384

)

(640,014

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,144,616

2,016,986

PROVISIONS FOR LIABILITIES

7

111,907

111,907

NET ASSETS

2,032,709

1,905,079

CAPITAL AND RESERVES

Called up share capital

8

2

2

Fair value reserve

9

335,722

335,722

Retained earnings

9

1,696,985

1,569,355

SHAREHOLDERS' FUNDS

2,032,709

1,905,079

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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:

Mr Angelo Hamalis - Director

Miss Dina Hamalis - Director

1.	STATUTORY INFORMATION

Madgecourt 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is rental income receivable from properties owned by the company.

Tangible fixed assets

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

Computer equipment

-

25% straight line

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the asset capable of operating as intended.

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Impairment of assets

The company assess at each reporting date whether an asset may be impaired. If any such indication exists the company estimates the recoverable amount of the assets. If it is not possible to estimate the recoverable amount of the individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. The recoverable amount of an asset or cash-generating unit is the higher of its fair value less costs to sell and its value in use. If the recoverable amount is less than its carrying amount, the carrying amount of the asset is impaired and it is reduced to its recoverable amount through an impairment in profit and loss unless the asset is carried at a revalued amount where the impairment loss of a revalued asset is a revaluation decrease.

An impairment loss recognised for all assets, is reversed in a subsequent period only if the reasons for the impairment have ceased to apply.

Investment property

Investment property is shown at most recent valuation and is held for long-term investment. Investment property is initially recognised at cost which includes purchase cost and any directly attributable expenditure. Investment property whose fair value can be measured reliably is carried at fair value. The surplus or deficit is recognised in the income statement accumulated in fair value reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the income statement for the period. The company engages independent valuers to assist the directors in determining fair value. Deferred taxation is provided on these gains at the rate expected to apply until the property is disposed.

If a reliable measure of fair value is not available without incurring undue costs or effort it shall be transferred to property, plant and equipment and accounted for under the cost model until it is expected that fair value will be reliably measurable on an on-going basis.

Depreciation is not provided in respect of such property in accordance to FRS 102 Chapter 16 Investment Property.

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.

4.	EMPLOYEES AND DIRECTORS

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

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

and 31 March 2025

930

DEPRECIATION

At 1 April 2024

and 31 March 2025

930

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

2,657,000

NET BOOK VALUE

At 31 March 2025

2,657,000

At 31 March 2024

2,657,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2017

447,629

Cost

2,209,371

2,657,000

The freehold properties are stated at fair value with changes in fair value being recognised in the income statement. No depreciation is provided in respect of such properties in accordance to FRS 102 Chapter 16 Investment Property.

These commercial properties have been included at directors' valuation of £2,657,000 (2024 - £2,657,000) having taken professional advice. These commercial properties were last formally valued on an open market basis in November 2015. The directors are of opinion that this valuation remain appropriate as at the reporting end date.

7.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Fair value

gain on investment properties

111,907

111,907

111,907

111,907

Deferred

tax

£

Balance at 1 April 2024

111,907

Balance at 31 March 2025

111,907

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2

Ordinary

£1

2

2

9.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 April 2024

1,569,355

335,722

1,905,077

Profit for the year

127,630

127,630

At 31 March 2025

1,696,985

335,722

2,032,707

Fair value reserve is not-distributable.

10.	RELATED PARTY DISCLOSURES

Loan from directors

As at the balance sheet date, the directors are owed £326,114 (2024 - £420,114) by the company. The loan is interest-free, unsecured, and is repayable on demand.

Loan from Sapphire & Co Ltd

Sapphire & Co Ltd is a company incorporated in England and Wales in which the director, Mr Angelo Hamalis, has significant influence as the director and shareholder.

Included under other creditors is an amount of £574,000 (2024 - £574,000) owed by the company to Sapphire & Co Ltd. The loan is interest-free, unsecured, and is repayable on demand.

Loan to ANGH Group Ltd

ANGH Group Ltd is an associated company incorporated in England and Wales in which Mr Angelo Hamalis is also a director and owns 100% of the issued share capital of the company.

Included under other debtors is an amount of £498,500 (2024 - £404,500) owed by ANGH Group Ltd to the company. The loan is interest-free, unsecured, and is repayable on demand.

11.	ULTIMATE CONTROLLING PARTY

The directors control the company as they each hold 50% of the issued share capital of the company.