ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Registered number: 10917401

MAESGLYN PROPERTY CO LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

MAESGLYN PROPERTY CO LIMITED

REGISTERED NUMBER: 10917401

BALANCE SHEET

AS AT 31 AUGUST 2025

		2025		2024
Note		£		£

Fixed assets
Investment property	4		77,942		77,942
			77,942		77,942
Current assets
Cash at bank and in hand		1,561		591
		1,561		591
Creditors: amounts falling due within one year	6	(28,551)		(31,222)
Net current liabilities			(26,990)		(30,631)
Total assets less current liabilities			50,952		47,311
Creditors: amounts falling due after more than one year			(53,988)		(50,175)

Net liabilities			(3,036)		(2,864)

Capital and reserves
Called up share capital	8	10	10
Profit and loss account		(3,046)	(2,874)
		(3,036)	(2,864)

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MAESGLYN PROPERTY CO LIMITED

REGISTERED NUMBER: 10917401

BALANCE SHEET (CONTINUED)

AS AT 31 AUGUST 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

N R V Evans

Director

Date: 17 May 2026

The notes on pages 3 to 7 form part of these financial statements.

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MAESGLYN PROPERTY CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1.	General information

Maesglyn Property Co Limited (company number 10917401) is a private company, limited by shares, registered in England and Wales with its registred office and principle place of business at Maesglyn, Meifod, Powys, SY22 6YG. The comparatives relate to the year ended 31 August 2024.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

The shareholders and directors have confirmed to the Company that they intend to continue to
support the operations of the Company for the foreseeable future.

On the basis of the above, the Going Concern Basis has been applied to these accounts.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

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MAESGLYN PROPERTY CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

2.Accounting policies (continued)

2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.7

Investment property

Investment property is carried at fair value determined annually by external valuers 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. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

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MAESGLYN PROPERTY CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

4.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 September 2024	77,942
	At 31 August 2025	77,942

The 2025 valuations were made by the Directors, on an open market value basis.

Debtors

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank loans	-	2,700
Directors loan account	702	702
Loan due to connected company	27,100	27,100
Accruals and deferred income	749	720
	28,551	31,222

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MAESGLYN PROPERTY CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Amounts falling due within one year
Bank loans	-	2,700
	-	2,700
Amounts falling due 1-2 years
Bank loans	-	5,400
	-	5,400
Amounts falling due 2-5 years
Bank loans	-	8,100
	-	8,100
Amounts falling due after more than 5 years
Bank loans	53,988	36,675
	53,988	36,675
	53,988	52,875

8.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

1 (2024 - 1) Ordinary share of £10	10	10

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MAESGLYN PROPERTY CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

9.	Related party transactions
	The directors of Maesglyn Property Co Limited are also directors in a connected company. The company operates a loan account with the connected incorporated business. The company was loaned funds from a connected company in the sum of £27,100 at 31 August 2025 (2024: amount due from the connected company was £27,100). No interest is charged and this is repayable on demand.

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