REGISTERED NUMBER: 04231983 (England and Wales)

Financial Statements

for the Period

1 January 2024 to 5 April 2025

for

Majortown Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

F Sidoli

M K Rodwell

REGISTERED OFFICE:

c/o Parker Cavendish, Suite 301

Stanmore Business and Innovation Centre

Howard Road

Stanmore

Middlesex

HA7 1FW

REGISTERED NUMBER:

04231983 (England and Wales)

ACCOUNTANTS:

Parker Cavendish

Chartered Accountants

Suite 301, Stanmore Business

and Innovation Centre

Howard Road

Stanmore

Middlesex

HA7 1FW

FIXED ASSETS

Investment property

4

10,181,122

10,059,192

CURRENT ASSETS

Debtors

5

41,526

224

Cash at bank

163,947

291,091

205,473

291,315

CREDITORS

Amounts falling due within one year

6

(9,075,903

)

(2,157,570

)

NET CURRENT LIABILITIES

(8,870,430

)

(1,866,255

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,310,692

8,192,937

CREDITORS

Amounts falling due after more than one year

7

(2,473,585

)

(9,553,952

)

NET LIABILITIES

(1,162,893

)

(1,361,015

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(1,162,993

)

(1,361,115

)

SHAREHOLDERS' FUNDS

(1,162,893

)

(1,361,015

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 5 April 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 5 April 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 17 December 2025 and were signed on its behalf by:

M K Rodwell - Director

1.	STATUTORY INFORMATION

Majortown 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 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 as modified by the revaluation of certain assets.

Related party exemption

The company has taken advantage of exemption in Financial Reporting Standard 102 not to disclose related party transactions with wholly owned entities within the group.

Turnover

Income comprises rent receivable from investment properties net of value added tax and is recognised on an accruals basis. Benefits provided to lessees in the form of rent free periods and capital contributions are treated as a reduction in the overall return on the lease and are recognised on a straight line basis over the full term of the lease.

Investment property

Initial measurement

Investment properties are initially measured at cost.

Subsequent measurement

Investment properties are measured at fair value at each reporting date with changes in fair values recognised in profit or loss. No depreciation is provided in respect of investment properties.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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.

Going concern

At the year end, the company had a net liability position which resulted from a downward revaluation of the company's investment properties. The company continues to be operationally profitable and therefore the financial statements have been prepared on going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2023 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

10,059,192

Additions

121,930

At 5 April 2025

10,181,122

NET BOOK VALUE

At 5 April 2025

10,181,122

At 31 December 2023

10,059,192

Fair value at 5 April 2025 is represented by:

£

Valuation in 2025

10,181,122

If the investment properties had not been revalued they would have been included at the following historical cost:

2025

2023

£

£

Cost

13,114,443

12,992,513

The investment properties were valued on a fair value basis on 5 April 2025 by the directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

£

Trade debtors

18,517

-

Prepayments & accrued income

23,009

224

41,526

224

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

£

Trade creditors

37,961

23,945

Amounts owed to group undertakings

8,740,000

-

Tax

12,198

7,993

Value added tax

44,826

37,529

Other creditors

-

1,800,000

Accruals & deferred income

240,918

288,103

9,075,903

2,157,570

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2023

£

£

Bank loans

2,500,000

2,500,000

Loan arrangement fees

(26,415

)

(36,048

)

Director's loan account

-

7,090,000

2,473,585

9,553,952

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2023

£

£

Bank loans

2,500,000

2,500,000

The bank loans are secured by legal mortgages over the company's properties.