REGISTERED NUMBER: 05757691

MINSTRELS VILLAGE MANAGEMENT LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A Kachra

A Kachra

REGISTERED OFFICE:

C/O Duncan & Toplis Limited

Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

BUSINESS ADDRESS:

Olympus House

Staniland Way

Werrington

Peterborough

Cambridgeshire

PE4 6NA

REGISTERED NUMBER:

05757691

SENIOR STATUTORY AUDITOR:

Alistair Main FCCA

AUDITORS:

Duncan & Toplis Audit Limited, Statutory Auditor

Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

CURRENT ASSETS

Debtors

4

227,688

204,124

Cash at bank

161,921

91,156

389,609

295,280

CREDITORS

Amounts falling due within one year

5

420,668

269,775

NET CURRENT (LIABILITIES)/ASSETS

(31,059

)

25,505

TOTAL ASSETS LESS CURRENT LIABILITIES

(31,059

)

25,505

CAPITAL AND RESERVES

Called up share capital

2

2

Maintenance reserve fund

6

-

25,503

Retained earnings

6

(31,061

)

-

SHAREHOLDERS' FUNDS

(31,059

)

25,505

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2025 and were signed on its behalf by:

A Kachra - Director

1.	STATUTORY INFORMATION

Minstrels Village Management Limited is a private limited 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 company is responsible for the management of Park Place, 88-90 Sleaford Road, Boston, Lincolnshire PE21 8EY, which is the principal place of business. The company collects service charges from lessees in order to fund expenditure incurred in the management of the property. These service charges are held for the lessees as required by the Landlord and Tenant Act 1987 and disclosed within capital and reserves.

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.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other

Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are

required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Turnover

Turnover consists of service charge income from tenants.

Turnover is measured at the true fair value of the consideration received or receivable, excluding discounts,rebates and value added tax and is recognised as it is earned.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

134,943

148,662

Amounts owed by group undertakings

-

39,889

Other debtors

4,536

4,500

Prepayments and accrued income

88,209

11,073

227,688

204,124

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Surplus owed back to tenants

-

13,876

Trade creditors

8,942

4,088

Amounts owed to group undertakings

273,957

75,918

Other creditors

6,694

-

Accruals and deferred income

131,075

175,893

420,668

269,775

6.

RESERVES

Retained

earnings

£

At 1 January 2024

25,503

Deficit for the year

(56,564

)

At 31 December 2024

(31,061

)

The reserve fund is being built up to cover the long term planned expenditure to be incurred on the village buildings.

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for disclaimer of opinion

The company was acquired on 31 March 2025, and the new management were unable to obtain sufficient information from previous management to provide to us. We were therefore unable to perform adequate audit testing giving rise to significant limitations in gathering sufficient appropriate audit evidence. We perceive the lack of information could result in both material and pervasive unidentified potential misstatements.

Alistair Main FCCA (Senior Statutory Auditor)

Duncan & Toplis Duncan & Toplis Audit Limited, Statutory Auditor

8.	ULTIMATE CONTROLLING PARTY

During the year the company's ultimate parent company was AXA SA, a company registered and incorporated in France.

On 31 March 2025 the company was acquired by Jenga Real Estate Limited, a company registered and incorporated in England. Following this acquisition the company's ultimate parent company is now Kibo Holdings Ltd, a company registered and incorporated in England.