Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investments | 3 |
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| 454,400 | 446,597 | |||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| 4,763,373 | 4,552,617 | |||
| Creditors: amounts falling due within one year | 5 | (
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| Net current assets | 4,607,191 | 4,273,058 | ||
| Total assets less current liabilities | 5,061,591 | 4,719,655 | ||
| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 6 |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Mikproud Assets Limited (registered number:
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P B Koopman
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Mikproud Assets Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in Pounds Sterling which is the functional currency of the Company and rounded to the nearest £.
Group accounts exemption s399
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.
Turnover represents the Company's share of profit of a limited liability partnership of which it is a member.
Turnover is recognised when profits are irrevocably allocated in accordance with the underlying methodology of the LLP deed.
Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.
Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
***Offsetting***
Financial assets and liabilities are offset and 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.
Investments
Investments in subsidiaries and associates are measured at cost less accumulated impairment.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the company during the year, including directors |
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Investments in subsidiaries
| 2025 | |
| £ | |
| Cost | |
| At 01 April 2024 |
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| Additions |
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| At 31 March 2025 |
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| Carrying value at 31 March 2025 |
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| Carrying value at 31 March 2024 |
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The loans to participating interests shown below represent the company's loans and capital contributions to a limited liability partnership of which the company is a member.
The amount is repayable on departure from the LLP.
| Investments in joint ventures | Loans | Total | |||
| £ | £ | £ | |||
| Cost or valuation before impairment | |||||
| At 01 April 2024 |
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| Additions |
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| At 31 March 2025 |
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| Carrying value at 31 March 2025 |
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| Carrying value at 31 March 2024 |
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Investments in shares
| Name of entity | Registered office | Principal activity | Class of shares |
Ownership 31.03.2025 |
Ownership 31.03.2024 |
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35 Ballards Lane, London, N3 1XW | Property investment |
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35 Ballards Lane, London, N3 1XW | Property investment and development |
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221 Watling Street, Radlett, Hertfordshire, WD7 7AL | Property development |
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35 Ballards Lane, London, N3 1XW | Property investment |
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221 Watling Street, Radlett, Hertfordshire, WD7 7AL | Management of real estate on a fee or contract basis |
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221 Watling Street, Radlett, Hertfordshire, WD7 7AL | Property development |
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221 Watling Street, Radlett, Hertfordshire, WD7 7AL | Property investment |
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| 2025 | 2024 | ||
| £ | £ | ||
| Amounts owed by group undertakings |
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| Amounts owed by associates |
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| Other debtors |
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| Amounts owed to directors |
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| Other loans |
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| Accruals |
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| Taxation and social security |
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| 2025 | 2024 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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Transactions with entities in which the entity itself has a participating interest
Where possible the company has taken advantage of the exemption conferred by Section 33.1A of Financial Reporting Standard 102: Related Party Disclosures, from the requirement to disclose transactions with wholly-owned group undertakings.
Included within fixed asset investments is a loan balance of £449,668 (2024: £441,965) owed by an LLP in which the company is a designated member and has an equity interest. This balance is unsecured and interest free, with no fixed repayment terms.
Included within amounts owed by undertakings in which the company has a participating interest is a balance of £16,870 (2024: £16,870) owed by an LLP in which the company is a designated member and has an equity interest. This balance is unsecured and interest free, with no fixed repayment terms.
Included within amounts owed by undertakings in which the company has a participating interest is a balance of £402,382 (2024: £2,541) owed by an associate in which the company has an equity interest. This balance is unsecured and interest free, with no fixed repayment terms.
Included within debtors is a balance of £906,036 (2023: £1,218,835) owed by partly owned subsidiaries of Mikproud Assets Limited. These balances are unsecured with no fixed repayment terms. Interest of £76,647 was charged on the loans.
Transactions with the entity's directors
Other related party transactions
Included within other debtors is an amount of £175,291 (2024: £Nil ) owed by immediate family members of the director. Interest has been charged at the HMRC official rate of interest.
Included within other loans in creditors falling due within one year is an amount of £147,382 (2024: £250,808 ) owed to immediate family members of the director. This balance is unsecured with no fixed repayment terms.