MAM 32 LIMITED


Directors	FRASER, Stuart Alan
	PETRIE, Sarah Anne


Registered Address	1 Market Street
	Altrincham
	WA14 1QE


Registered Number	09880200 (England and Wales)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	4		8,985,000		6,146,542
			8,985,000		6,146,542
Current assets
Debtors		18,357,702		31,513,361
Cash at bank and on hand		14,680		7,000
		18,372,382		31,520,361
Creditors amounts falling due within one year		(22,465,451)		(34,247,239)
Net current assets (liabilities)			(4,093,069)		(2,726,878)
Total assets less current liabilities			4,891,931		3,419,664
Provisions for liabilities			(103,538)		(103,538)
Net assets			4,788,393		3,316,126
Capital and reserves
Called up share capital			500		500
Revaluation reserve			468,087		468,087
Profit and loss account			4,319,806		2,847,539
Shareholders' funds			4,788,393		3,316,126

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 31 December 2025, and are signed on its behalf by:

FRASER, Stuart Alan
Director
Registered Company No. 09880200

MAM 32 LIMITED

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

	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 transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.

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 transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment.

Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. 

2.	Average number of employees


		2025		2024
	Average number of employees during the year	4		5

3.	Deferred tax
	Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.

4.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 April 24	6,146,542
	Additions	2,838,458
	At 31 March 25	8,985,000
	Net book value
	At 31 March 25	8,985,000
	At 31 March 24	6,146,542

5.	Related party transactions
	218 Hale Road Limited A company which is a wholly owned subsidiary of MAM 32 Limited. Included within other debtors is an amount due to the related party at 31 March 2025 of £1,111,002 (2024: (£1,268.937) ). The loan is interest free and repayable on demand. 124 Oldfield Road Limited A company which is a wholly owned subsidiary of MAM 32 Limited. Included within other debtors is an amount due from the related party at 31 March 2025 of £2,703,661 (2024: £2,054.419). The loan is interest free and repayable on demand. Cainus Ltd A company of which Mr S Fraser is a director and shareholder. Included within other debtors is a loan due from the related party at 31 March 2025 of £1,421,191 (2024: £1,341,340). The loan is subject to interest at 7% per annum and is repayable on demand. In addition to the above, also included within other debtors, at 31 March 2024 there is an amount of £1,842,476 (2024: £3,314,247) due from the related party. This amount is subject to interest at 7% per annum and is repayable on demand. 55 Manchester Road (Altrincham) Limited A company of which Mr S Fraser and Mrs G Fraser are directors. Included within other debtors is a loan due from the related party at 31 March 2025 of £144,250 (2024: £134,659). The loan is subject to interest at 3.50% per annum and is repayable on demand. In addition to the above, also included within other debtors, al 31 March 2024 there is an amount of £62,319 (2024: £31,898) due from the related party. Interest is charged at 1% plus base rate per annum. The amount is repayable on demand. Fraser Family Invesco Limited A company of which Mr S Fraser and Mrs G Fraser are directors. Included within other debtors is an amount due to the related party at 31 March 2025 of £7,411,331 (2024: £1,084,106). Interest is payable at 1% plus base rate. The amount is repayable on demand. Old Meadows Fraser Homes Limited A company of which Mr S Fraser and Mrs G Fraser are directors. Included within other debtors is an amount due to the related party at 31 March 2025 of £77,304 (2024: 72,520). Interest is payable at 1% plus base rate. The amount is repayable on demand. Fraser Family Discretionary Trust An entity of which Mr S Fraser and Mrs S Fraser are trustees. Included within other creditors is an amount due to the related party at 31 March 2025 of £650,000 (2024: £650,000). The amount is interest free and repayable on demand

Related party transactions

218 Hale Road Limited
A company which is a wholly owned subsidiary of MAM 32 Limited. Included within other debtors is an amount due to the related party at 31 March 2025 of £1,111,002 (2024: (£1,268.937) ). The loan is interest free and repayable on demand.
124 Oldfield Road Limited
A company which is a wholly owned subsidiary of MAM 32 Limited. Included within other debtors is an amount due from the related party at 31 March 2025 of £2,703,661 (2024: £2,054.419). The loan is interest free and repayable on demand.
Cainus Ltd
A company of which Mr S Fraser is a director and shareholder. Included within other debtors is a loan due from the related party at 31 March 2025 of £1,421,191 (2024: £1,341,340). The loan is subject to interest at 7% per annum and is repayable on demand.
In addition to the above, also included within other debtors, at 31 March 2024 there is an amount of £1,842,476 (2024: £3,314,247) due from the related party. This amount is subject to interest at 7% per annum and is repayable on demand.
55 Manchester Road (Altrincham) Limited
A company of which Mr S Fraser and Mrs G Fraser are directors. Included within other debtors is a loan due from the related party at 31 March 2025 of £144,250 (2024: £134,659). The loan is subject to interest at 3.50% per annum and is repayable on demand.
In addition to the above, also included within other debtors, al 31 March 2024 there is an amount of £62,319 (2024: £31,898) due from the related party. Interest is charged at 1% plus base rate per annum. The amount is repayable on demand. 
Fraser Family Invesco Limited
A company of which Mr S Fraser and Mrs G Fraser are directors. Included within other debtors is an amount due to the related party at 31 March 2025 of £7,411,331 (2024: £1,084,106). Interest is payable at 1% plus base rate. The amount is repayable on demand.
Old Meadows Fraser Homes Limited
A company of which Mr S Fraser and Mrs G Fraser are directors. Included within other debtors is an amount due to the related party at 31 March 2025 of £77,304 (2024: 72,520). Interest is payable at 1% plus base rate. The amount is repayable on demand. 
Fraser Family Discretionary Trust
An entity of which Mr S Fraser and Mrs S Fraser are trustees. Included within other creditors is an amount due to the related party at 31 March 2025 of £650,000 (2024: £650,000). The amount is interest free and repayable on demand