| REGISTERED NUMBER: |
| Minns Estates Limited |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
| REGISTERED NUMBER: |
| Minns Estates Limited |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
| Minns Estates Limited (Registered number: 01654620) |
| Contents of the Financial Statements |
| for the year ended 31 March 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Minns Estates Limited |
| Company Information |
| for the year ended 31 March 2025 |
| Director: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountants: |
| Broadwalk House, 5th Floor |
| 5 Appold Street |
| Broadgate |
| London |
| EC2A 2AG |
| Minns Estates Limited (Registered number: 01654620) |
| Balance Sheet |
| 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| Current assets |
| Stocks |
| Debtors | 7 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 8 |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| Provisions for liabilities | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital |
| Fair value reserve | 10 |
| Retained earnings |
| The director acknowledges his 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. |
| Minns Estates Limited (Registered number: 01654620) |
| Balance Sheet - continued |
| 31 March 2025 |
| The financial statements were approved by the director and authorised for issue on |
| Minns Estates Limited (Registered number: 01654620) |
| Notes to the Financial Statements |
| for the year ended 31 March 2025 |
| 1. | Statutory information |
| Minns Estates Limited is a |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound. |
| The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below. |
| The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group. |
| Going concern |
| At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the twelve months from the date of the approval of the financial statements. Hence, the director continues to adopt the going concern basis of accounting in preparing the financial statements. |
| Turnover |
| Sales represents amounts receivable services net of VAT and trade discounts. Turnover on the sale of property development is recognised on exchange of contracts, as contracts are binding this is considered to represent completion of the sale. sales are recognised on interim certificates issued on contracts where the company acts only as an agent to develop property. Income relating to rent recognised over the period to which it relates and recorded as other operating income. |
| Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered. |
| Tangible fixed assets |
| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
| Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: |
| Plant and machinery | 33.3% reducing balance |
| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. |
| Investment properties |
| Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss. |
| Minns Estates Limited (Registered number: 01654620) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 2. | Accounting policies - continued |
| Fixed asset investments |
| Interests in subsidiaries are measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss. |
| Impairment of fixed assets |
| At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
| Stocks |
| Work in progress is valued at the lower of cost and net realisable value and is based on the director's estimate. Finance costs are included in the value of work in progress where these costs are directly attributable to the cost of acquisition or construction of such work in progress. |
| Cash at bank and in hand |
| Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks. |
| 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 measured at transaction price including transaction costs. 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 and bank loans are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised. 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. |
| Equity instruments |
| Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. |
| Taxation |
| The tax expense represents the sum of the tax currently payable and deferred tax. |
| Current tax |
| The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. |
| Minns Estates Limited (Registered number: 01654620) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 2. | Accounting policies - continued |
| Deferred tax |
| Deferred tax liabilities are generally recognised for all timing differences and 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. |
| Leases |
| Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| 4. | Tangible fixed assets |
| Plant and |
| machinery |
| £ |
| Cost |
| At 1 April 2024 |
| Additions |
| At 31 March 2025 |
| Depreciation |
| At 1 April 2024 |
| Charge for year |
| At 31 March 2025 |
| Net book value |
| At 31 March 2025 |
| At 31 March 2024 |
| 5. | Fixed asset investments |
| Shares in |
| group | Interest in |
| undertakings | associate | Totals |
| £ | £ | £ |
| Cost |
| At 1 April 2024 |
| and 31 March 2025 | 12,808 |
| Net book value |
| At 31 March 2025 | 12,808 |
| At 31 March 2024 | 12,808 |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Registered office: St Thomas House, 6 Becket Street, Oxford, England, OX1 1PP. |
| Nature of business: |
| % |
| Class of shares: | holding |
| Minns Estates Limited (Registered number: 01654620) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 5. | Fixed asset investments - continued |
| Registered office: St Thomas House, 6 Becket Street, Oxford, England, OX1 1PP. |
| Nature of business: |
| % |
| Class of shares: | holding |
| Registered office: St Thomas House, 6 Becket Street, Oxford, England, OX1 1PP. |
| Nature of business: |
| % |
| Class of shares: | holding |
| 6. | Investment property |
| Total |
| £ |
| Fair value |
| At 1 April 2024 |
| Additions |
| Revaluations | (36,598 | ) |
| At 31 March 2025 |
| Net book value |
| At 31 March 2025 |
| At 31 March 2024 |
| Fair value at 31 March 2025 is represented by: |
| £ |
| Valuation in 2004 | 567,890 |
| Valuation in 2005 | 820,881 |
| Valuation in 2006 | 180,709 |
| Valuation in 2009 | (710,206 | ) |
| Valuation in 2010 | (140,000 | ) |
| Valuation in 2012 | (220,000 | ) |
| Valuation in 2019 | 160,000 |
| Valuation in 2022 | 876,452 |
| Valuation in 2023 | (155,271 | ) |
| Valuation in 2025 | (35,928 | ) |
| Cost | 3,770,473 |
| 5,115,000 |
| If investment property had not been revalued it would have been included at historical cost being £3,770,473 (2024: £3,770,473). |
| Investment property was valued on an open market basis on 18 July 2025 by Marshalls Chartered Surveyors for one of the properties and on 29 March 2025 by CSquared for the other property. |
| 7. | Debtors: amounts falling due within one year |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Minns Estates Limited (Registered number: 01654620) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 8. | Creditors: amounts falling due within one year |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| The aggregate amount of creditors for which security has been given amounted to £341,440 (2024 - £39,785). The bank loan is secured by legal charges over the properties. |
| 9. | Creditors: amounts falling due after more than one year |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| The aggregate amount of creditors for which security has been given amounted to £205,802 (2024 - £530,251). The bank loan is secured by legal charges over the properties. |
| 10. | Reserves |
| Fair value |
| reserve |
| £ |
| At 1 April 2024 |
| Fair value reserve movement | (36,598 | ) |
| At 31 March 2025 |
| 11. | Related party disclosures |
| Included within prepayments at the year end is an amount of £120,000 (2024 - £177,500) which is related to a payment for management fees to a company connected by the director. |
| Included within administrative expenses is an amount of £375,000 (2024 - £345,000) charged to the company for management fees connected by the director. |
| 12. | Ultimate controlling party |
| The immediate and ultimate parent company is Minns (Oxford) Limited, a company registered in England |
| and Wales. |