REGISTERED NUMBER: 10569681 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

FOR

MILLENNIUM PROPERTIES OF LONDON LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

F Grech

Mrs D Grech

REGISTERED OFFICE:

1 Kings Avenue

London

N21 3NA

REGISTERED NUMBER:

10569681 (England and Wales)

ACCOUNTANTS:

AGK Partners

Chartered Accountants

1 Kings Avenue

Winchmore Hill

London

N21 3NA

FIXED ASSETS

Property, plant and equipment

4

61,283

415

Investment property

5

15,920,000

15,860,000

15,981,283

15,860,415

CURRENT ASSETS

Debtors

6

472,074

56,450

Cash at bank

298,147

201,360

770,221

257,810

CREDITORS

Amounts falling due within one year

7

407,042

329,177

NET CURRENT ASSETS/(LIABILITIES)

363,179

(71,367

)

TOTAL ASSETS LESS CURRENT LIABILITIES

16,344,462

15,789,048

CREDITORS

Amounts falling due after more than one year

8

(11,459,895

)

(9,299,860

)

PROVISIONS FOR LIABILITIES

-

(74,900

)

NET ASSETS

4,884,567

6,414,288

CAPITAL AND RESERVES

Called up share capital

102

102

Share premium

5,545,367

5,545,367

Fair value reserve

(1,273,650

)

275,100

Retained earnings

612,748

593,719

4,884,567

6,414,288

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2026 and were signed on its behalf by:

F Grech - Director

1.	STATUTORY INFORMATION

Millennium Properties of London Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue

Revenue represents the value of rental income chargeable in respect of the company's investment property. Revenue is recognised evenly over the period of the rental agreement, net of value added tax.

Where rental income is received in advance of the period to which it relates, it is recognised as deferred income. Where rental income is due but not yet received and relates to a current or past period, it is recognised as accrued income.

Property, plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Motor vehicles

20% on reducing balance

Plant and machinery

20% on reducing balance

Computer equipment

33% on reducing balance

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the profit or loss.

Investment property

Investment property, which is property held to earn rentals or for capital appreciation or both, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure such as legal fees, property transfer taxes, and other transaction costs.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

An investment property is derecognised upon disposal or when the investment property is permanently withdrawn from use and no future economic benefits are expected from the continued use of the asset.

Any gain or loss arising on derecognition of the property (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in profit or loss in the period in which the property is derecognised.

Financial instruments

Basic financial assets and liabilities, which include debtors, creditors, 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Hire purchase and leasing commitments

Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 May 2024

-

-

3,530

3,530

Additions

563

75,694

-

76,257

At 30 April 2025

563

75,694

3,530

79,787

DEPRECIATION

At 1 May 2024

-

-

3,115

3,115

Charge for year

113

15,139

137

15,389

At 30 April 2025

113

15,139

3,252

18,504

NET BOOK VALUE

At 30 April 2025

450

60,555

278

61,283

At 30 April 2024

-

-

415

415

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2024

15,860,000

Additions

2,125,000

Revaluations

(2,065,000

)

At 30 April 2025

15,920,000

NET BOOK VALUE

At 30 April 2025

15,920,000

At 30 April 2024

15,860,000

Fair value at 30 April 2025 is represented by:

£

Valuation in 2023

210,000

Valuation in 2024

140,000

Valuation in 2025

(2,065,000

)

Cost

17,635,000

15,920,000

If Investment property had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

17,635,000

15,510,000

Investment property was valued on an open market basis on 30 April 2025 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

472,074

56,450

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

15,860

15,327

Taxation and social security

49

20,675

Other creditors

391,133

293,175

407,042

329,177

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

6,750,000

6,750,000

Hire purchase contracts

49,068

-

Other creditors

4,660,827

2,549,860

11,459,895

9,299,860

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

6,750,000

6,750,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank Loans

6,750,000

6,750,000

The bank loans are secured by way of a fixed and floating charge all the properties and undertaking of the company and contains negative pledge.

10.	RELATED PARTY DISCLOSURES