Company registration number 03666138 (England and Wales)
MAPTARN LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
MAPTARN LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7
MAPTARN LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 APRIL 2025
30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment properties
3
550,000
550,000
Investments
4
2,010,366
2,010,366
2,560,366
2,560,366
Current assets
Debtors
5
320,000
-
0
Cash at bank and in hand
328,167
421,197
648,167
421,197
Creditors: amounts falling due within one year
6
(1,817,141)
(1,796,617)
Net current liabilities
(1,168,974)
(1,375,420)
Total assets less current liabilities
1,391,392
1,184,946
Provisions for liabilities
7
(23,421)
(23,421)
Net assets
1,367,971
1,161,525
Capital and reserves
Called up share capital
8
2
2
Investment property revaluation reserve
9
234,771
234,771
Profit and loss reserves
9
1,133,198
926,752
Total equity
1,367,971
1,161,525

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

MAPTARN LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
30 APRIL 2025
30 April 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 21 January 2026 and are signed on its behalf by:
P L A Hartnell
N J Hartnell
Director
Director
Company Registration No. 03666138
MAPTARN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -
1
Accounting policies
Company information

Maptarn Limited is a private company limited by shares incorporated in England and Wales. The registered office is Cherry House, Oakridge Avenue, Radlett, Hertfordshire, WD7 8EN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

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.

1.2
Going concern

The financial statements have been prepared on a going concern basis even though at the Balance Sheet date the company's current liabilities exceeded its current assets by £1,168,974.true

The d irector s consider the going concern basis to be appropriate because, in their opinion, the company will continue to obtain support from other connected companies under common control for a period of at least 12 months from the date of approval of the financial statements, to enable it to pay its debts as they fall due.

1.3
Turnover

Turnover represents rent and service charges receivable from letting of investment properties and is measured at fair value and is recognised in the period to which it arises on an accrual basis and in accordance with the terms of the lease.

1.4
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.

The fair value model is determined by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset.

1.5
Fixed asset investments

Fixed assets investments are measured at cost less any accumulated impairment losses.

1.6
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and bank overdrafts.

1.7
Financial instruments

Financial instruments are recognised in the company's statement of financial position 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.

MAPTARN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 4 -
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, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts 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. A m ounts 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.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
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 income statement 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.

MAPTARN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 5 -
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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
3
Investment property
2025
£
Fair value
At 1 May 2024 and 30 April 2025
550,000
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2025
2024
£
£
Cost
297,429
297,429
Accumulated depreciation
-
-
Carrying amount
297,429
297,429
MAPTARN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 6 -
4
Fixed asset investments
2025
2024
£
£
Other investments other than loans
2,010,366
2,010,366
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
70,000
-
0
Other debtors
250,000
-
0
320,000
-
0
6
Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
16,599
10,559
Other creditors
1,800,542
1,786,058
1,817,141
1,796,617

Included in other creditors is an amount of £167,123 (2024: £155,038) owed to one of the directors. The loan is interest free and repayable on demand.

7
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
23,421
23,421
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
2
2
2
2

There is a single class of ordinary shares. There are no restrictions on the distribution of dividends and repayment of capital.

9
Reserves
Investment property revaluation reserve

It relates to non-distributable reserves arising from revaluation of investment property less deferred tax.

MAPTARN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
9
Reserves
(Continued)
- 7 -
Profit and loss reserves

Retained earnings represents accumulated comprehensive income for the year and prior periods less dividends paid.

10
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Rent receivable
2025
2024
£
£
Other related parties
70,000
35,625

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due to related parties
£
£
Other related parties
1,601,687
1,601,687

The loan is unsecured and interest free and is repayable on demand.

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