Company Registration No. 4271068 (England and Wales)
Malcor Estates Limited
Unaudited accounts
for the year ended 31 March 2025
Malcor Estates Limited
Unaudited accounts
Contents
Malcor Estates Limited
Company Information
for the year ended 31 March 2025
Directors
A Naghshineh
S Naghshineh
C Thoday
Company Number
4271068 (England and Wales)
Registered Office
11-13 Riverside Road
Norwich
Norfolk
NR1 1SQ
Malcor Estates Limited
Statement of financial position
as at 31 March 2025
Investment property
2,250,000
2,250,000
Cash at bank and in hand
167,743
104,489
Creditors: amounts falling due within one year
(1,348,579)
(1,226,623)
Net current liabilities
(1,048,787)
(997,705)
Total assets less current liabilities
1,201,213
1,252,295
Creditors: amounts falling due after more than one year
(647,256)
(658,333)
Provisions for liabilities
Deferred tax
(137,500)
(104,500)
Net assets
416,457
489,462
Called up share capital
2
2
Profit and loss account
416,455
489,460
Shareholders' funds
416,457
489,462
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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2025 and were signed on its behalf by
C Thoday
Director
Company Registration No. 4271068
Malcor Estates Limited
Notes to the Accounts
for the year ended 31 March 2025
Malcor Estates Limited is a private company, limited by shares, registered in England and Wales, registration number 4271068. The registered office is 11-13 Riverside Road, Norwich, Norfolk, NR1 1SQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The financial statements have been prepared on a going concern basis.
The company is part of a group guarantee against a loan taken out by a company under common control. The company's guarantee is limited to £1,630,000. At the year end, the total amount of loan outstanding was £696,916 (2024: £707,939) of which £11,588 (2024: £11,022) is due within the year. The company has provided security against this loan in the form of its investment property.
At the end of the year the company owed a total of £858,903 (2024: £858,903) to connected parties. These loans were fully subordinated to the senior lender.
The company is also owed £Nil (2024: £22,175) by other connected companies.
Based on the above the directors have prepared cash flow projections and business plans which demonstrate that the company has the resources available for the foreseeable future and, in particular, has resources available for the period of 12 months from the date of approval of these financial statements.
The accounts are presented in £ sterling.
Turnover comprises income from the fixed asset investment property. The income is recognised on an accruals basis.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts.
Deferred tax liabilities arising from gains on the revaluation of investment property are recognised in full.
Deferred tax assets arising from unrelieved tax losses are recognised only to the extent that it is probable that they will be recovered against future profits or the future reversal of deferred tax liabilities.
FRS 102 required the individual components of tax expense of tax benefit to be allocated to the profit and loss, where appropriate these are disclosed in the notes to the accounts.
Deferred tax assets and liabilities are not discounted.
Malcor Estates Limited
Notes to the Accounts
for the year ended 31 March 2025
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Fair value at 1 April 2024
2,250,000
At 31 March 2025
2,250,000
The investment property was valued on an open market value by the Directors of the company on 31 March 2024.
Amounts falling due within one year
Trade debtors
62,230
24,155
Amounts due from group undertakings etc.
-
22,175
Accrued income and prepayments
64,530
75,319
6
Creditors: amounts falling due within one year
2025
2024
Trade creditors
198,045
167,879
Amounts owed to group undertakings and other participating interests
908,564
908,509
Other creditors
26,269
22,918
Deferred income
49,902
40,444
7
Creditors: amounts falling due after more than one year
2025
2024
Amounts owed to group undertakings and other participating interests
647,256
658,333
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
Malcor Estates Limited
Notes to the Accounts
for the year ended 31 March 2025
9
Transactions with related parties
Under section 33.1A of FRS 102 the Company is not obliged to disclose transaction between members of other group companies where group accounts are prepared.
During the year administrative costs of £124 (2024: £16,749) and £Nil (2024: £87,321 ) management fees were charged to the company by Targetfollow Estates Limited, a company controlled by A Naghshineh. At the end of the year, the company owed a total of £69,105.83 (2024: £86,665) to Targetfollow Estates Limited.
The company has a loan agreement with Kerdiston Investments Limited, a company controlled by A Naghshineh. At the year end, £75,126 (2024: £75,126) was owed to Kerdiston Investments Limited.
The company has a loan account with Alexol Limited, a company controlled by A Naghshineh. At the year end, £39,722 (2024: £39,722) was owed to Alexol Limited.
The company has a loan account with RCP Parking Limited. At the year end, £216,6066 (2024: £228,006) was owed to RCP Parking Limited. The ultimate controlling parties of RCP Parking Limited are A Naghshineh and S Naghshineh.
The company is controlled by Targetfollow Group Limited and, in the opinion of the directors, this is the company's ultimate parent company. The ultimate controlling parties are A Naghshineh.
The parent undertaking of the largest and smallest group for which consolidated accounts are prepared is Targetfollow Group Ltd. Consolidated accounts are available from Companies House.
11
Average number of employees
During the year the average number of employees was 0 (2024: 0).