MEI Properties Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 08237579 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

MEI PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Bravo Mendez

P M Nellemose

REGISTERED OFFICE:

16 South End

Croydon

Surrey

CR0 1DN

REGISTERED NUMBER:

08237579 (England and Wales)

ACCOUNTANTS:

Averillo & Associates

Chartered Accountants

16 South End

Croydon

Surrey

CR0 1DN

FIXED ASSETS

Tangible assets

4

17,635

23,863

Investments

5

571,564

Investment property

6

11,210,000

11,799,199

11,805,427

CURRENT ASSETS

Debtors

7

43,217

34,467

Cash at bank

189,232

128,830

232,449

163,297

CREDITORS

Amounts falling due within one year

8

2,017,803

2,028,768

NET CURRENT LIABILITIES

(1,785,354

)

(1,865,471

)

TOTAL ASSETS LESS CURRENT LIABILITIES

10,013,845

9,939,956

CREDITORS

Amounts falling due after more than one
year

9

(7,998,591

)

(8,207,423

)

PROVISIONS FOR LIABILITIES

(406,238

)

(406,238

)

NET ASSETS

1,609,016

1,326,295

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

1,608,916

1,326,195

SHAREHOLDERS' FUNDS

1,609,016

1,326,295

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 30 April 2026 and were signed on its behalf by:

J Bravo Mendez - Director

1.	STATUTORY INFORMATION

MEI Properties 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.

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.

Preparation of consolidated financial statements

The financial statements contain information about MEI Properties Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Investment property

The company carries its investment property at fair value, with changes in fair value being recognised in profit and loss.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Furniture

When a property is made available for letting, the cost of the furniture is capitalised and written off over five years. Subsequent purchases are written off as they are incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

and 31 December 2025

232,856

DEPRECIATION

At 1 January 2025

208,993

Charge for year

6,228

At 31 December 2025

215,221

NET BOOK VALUE

At 31 December 2025

17,635

At 31 December 2024

23,863

5.	FIXED ASSET INVESTMENTS

2025

2024

£

Shares in group undertakings

210,227

Loans to group undertakings

184,865

Participating interests

142,469

Loans to undertakings in which the company
has a participating interest

34,003

571,564

Additional information is as follows:

Interest

Shares in

in other

group

participating

undertakings

interests

Totals

£

COST

At 1 January 2025

and 31 December 2025

210,227

142,469

352,696

NET BOOK VALUE

At 31 December 2025

210,227

142,469

352,696

At 31 December 2024

210,227

142,469

352,696

Loans to

other

group

participating

undertakings

interests

Totals

£

At 1 January 2025

and 31 December 2025

184,865

34,003

218,868

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2025

and 31 December 2025

11,210,000

NET BOOK VALUE

At 31 December 2025

11,210,000

At 31 December 2024

11,210,000

Fair value at 31 December 2025 is represented by:

£

Valuation in 2022

2,094,444

Cost

9,115,556

11,210,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2025

2024

£

Cost

9,115,556

The investment properties were valued on an open market basis basis on 31 December 2022 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

2,096

26,514

Other debtors

41,121

7,953

43,217

34,467

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

1,571,649

1,775,827

Trade creditors

2,820

4,610

Taxation and social security

2,839

617

Other creditors

440,495

247,714

2,017,803

2,028,768

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Bank loans

5,542,614

5,527,423

Other creditors

2,455,977

2,680,000

7,998,591

8,207,423

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Lloyds Bank

5,582,614

5,579,963

The loans are secured by a fixed charge over the freehold investment properties and by a floating charge over the assets of the company.

The shareholder' s loans are unsecured and interest free.

11.	RELATED PARTY DISCLOSURES

Mr P Nellemose is a partner in Averillo & Associates, chartered accountants who received directors fees and other professional fees totalling £13,200 (2024: £13,200) in respect of services provided. No amounts were outstanding at the end of the year.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr Jesus Bravo Mendez and members of his family.