REGISTERED NUMBER: NI005436 (Northern Ireland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

MALBERON PROPERTIES LIMITED

Page

Statement of Financial Position

1

to

2

Notes to the Financial Statements

3

to

8

FIXED ASSETS

Tangible assets

4

361

425

Investments

5

250,000

250,000

Investment property

6

89,661

89,661

340,022

340,086

CURRENT ASSETS

Debtors

7

91,538

90,336

Cash at bank

30,665

31,334

122,203

121,670

CREDITORS

Amounts falling due within one year

8

(3,360

)

(3,197

)

NET CURRENT ASSETS

118,843

118,473

TOTAL ASSETS LESS CURRENT LIABILITIES

458,865

458,559

PROVISIONS FOR LIABILITIES

(69

)

(81

)

NET ASSETS

458,796

458,478

CAPITAL AND RESERVES

Called up share capital

2,000

2,000

Retained earnings

456,796

456,478

458,796

458,478

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.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 December 2025 and were signed on its behalf by:

M Jaffa - Director

1.	GENERAL INFORMATION

MALBERON PROPERTIES LIMITED is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address are as below:

Registered number:

NI005436

Registered office:

58 Lisburn Road

Belfast

Co. Antrim

BT9 6AF

The principal activity of the company during the year was that of development, trading and management of property.

2.	ACCOUNTING POLICIES

BASIS OF PREPARATION

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. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

As described in the accounting policies of the financial statements, depreciation of intangible and tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.

Investment properties

The open market value of the investment properties has been determined by the directors, based on their experience of the market.

REVENUE RECOGNITION

Turnover includes management charges and rental income. Management charges are recognised in the period that the services are provided. Rental income is recognised in the period to which it relates. Rent invoiced in advance is deferred accordingly.

The turnover shown in the profit and loss account is exclusive of Value Added Tax.

TANGIBLE FIXED ASSETS

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

Fixtures and fittings

-

15% reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

INVESTMENTS

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

FINANCIAL INSTRUMENTS

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

TAXATION

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference

INVESTMENT PROPERTY

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2024

and 31 March 2025

29,047

DEPRECIATION

At 1 April 2024

28,622

Charge for year

64

At 31 March 2025

28,686

NET BOOK VALUE

At 31 March 2025

361

At 31 March 2024

425

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

and 31 March 2025

250,000

NET BOOK VALUE

At 31 March 2025

250,000

At 31 March 2024

250,000

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

89,661

NET BOOK VALUE

At 31 March 2025

89,661

At 31 March 2024

89,661

The directors consider the investment properties are stated at fair value as at 31 March 2025.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Amounts owed by group undertakings

4,474

4,109

Other debtors

78,878

72,693

Directors' loan accounts

452

-

Prepayments and accrued income

7,734

13,534

91,538

90,336

Amounts owed by group undertakings are unsecured, interest free and are repayable on demand.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

1,380

-

Tax

-

1,085

Directors' loan accounts

-

311

Accruals and deferred income

1,980

1,801

3,360

3,197

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

M Jaffa and S Jaffa

Balance outstanding at start of year

(311

)

2,444

Amounts advanced

1,440

-

Amounts repaid

(677

)

(2,755

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

452

(311

)

D A Jaffa

Balance outstanding at start of year

-

50,624

Amounts repaid

-

(50,624

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

The director had an interest free loan during the year. By virtue of the loan account, a liability to taxation exists under section 455 CTA 2010 in the sum of £153 which will be repaid or discharged when the loan is repaid. It is anticipated that the loan will be repaid within nine months of the year end and, as such, no provision for the taxation has been made.

10.	EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no significant events up to the date of approval for the financial statements by the Board.

11.	CONTROLLING PARTY

The company is a wholly-owned subsidiary of S Jaffa (Furs) Limited, a company incorporated in Northern Ireland. The registered office address of the parent company is 58 Lisburn Road, Belfast, Co. Antrim, BT9 6AF.