Magdala Tavern Limited
Unaudited Financial Statements
For the period ended 31 March 2025
Pages for Filing with Registrar
Company Registration No. 15583177 (England and Wales)
Magdala Tavern Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
Magdala Tavern Limited
Balance Sheet
As at 31 March 2025
Page 1
2025
Notes
£
£
Fixed assets
Investment properties
3
4,575,000
Current assets
Debtors
4
471,338
Cash at bank and in hand
20,993
492,331
Creditors: amounts falling due within one year
5
(4,942,785)
Net current liabilities
(4,450,454)
Net assets
124,546
Capital and reserves
Called up share capital
6
1
Profit and loss reserves
124,545
Total equity
124,546

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her 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 period 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.

The financial statements were approved and signed by the director and authorised for issue on 12 March 2026
O Golan
Director
Company Registration No. 15583177
Magdala Tavern Limited
Notes to the Financial Statements
For the period ended 31 March 2025
Page 2
1
Accounting policies
Company information

Magdala Tavern Limited is a private company limited by shares incorporated in England and Wales. The registered office is 10 Orange Street, London, United Kingdom, WC2H 7DQ.

1.1
Reporting period

The annual financial statements are presented for a period longer than one year, due to the company being incorporated on 2 1 March 202 4.

1.2
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 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. The principal accounting policies adopted are set out below.

1.3
Going concern

A true t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.5
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.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Magdala Tavern Limited
Notes to the Financial Statements (Continued)
For the period ended 31 March 2025
1
Accounting policies
(Continued)
Page 3
1.7
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, 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.

Magdala Tavern Limited
Notes to the Financial Statements (Continued)
For the period ended 31 March 2025
Page 4
2
Employees

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

2025
Number
Total
1
3
Investment property
2025
£
Cost or valuation
At 21 March 2024
-
0
Additions
4,575,000
At 31 March 2025
4,575,000

At the reporting date, the investment property was valued at £4,575,000. The valuation was based on an independent professional valuation obtained at the time of purchase, which the directors consider remains representative of fair value at the reporting date.

4
Debtors
2025
Amounts falling due within one year:
£
Trade debtors
47,368
Other debtors
422,523
Prepayments and accrued income
1,447
471,338
5
Creditors: amounts falling due within one year
2025
£
Trade creditors
55
Taxation and social security
4,488
Other creditors
4,936,742
Accruals and deferred income
1,500
4,942,785
Magdala Tavern Limited
Notes to the Financial Statements (Continued)
For the period ended 31 March 2025
Page 5
6
Called up share capital
2025
2025
Ordinary share capital
Number
£
Issued and fully paid
Ordinary share of £1 each
1
1
7
Operating lease commitments
Lessor

At the reporting end date the company had contracted with tenants for the following minimum lease payments:

2025
£
Within one year
100,000
Between two and five years
400,000
In over five years
575,000
1,075,000
8
Related party transactions

Included in debtors is an amount of £422,522 owed by Spaceworks Properties Limited, a related party.

Included in creditors is an amount owed to Mulberry Capital One Limited, the parent company, of £4,873,675. Also included in creditors is an amount owed to Romany Place Limited, a related party, of £56,366.

9
Parent company

Mulberry One Capital Limited is the parent company and shareholder of Magdala Tavern Limited. The registered office of Mulberry One Capital Limited is Cp House, 97-107 Uxbridge Road, London, Ealing, England, W5 5TL.

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