1 September 2024 v2026.18.1 limited_company_frs_102_section_1a_v1_1_3 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP037070182024-09-012025-08-31037070182025-08-31037070182024-08-3103707018core:WithinOneYear2025-08-3103707018core:WithinOneYear2024-08-3103707018core:AfterOneYear2025-08-3103707018core:AfterOneYear2024-08-3103707018core:ShareCapital2025-08-3103707018core:ShareCapital2024-08-3103707018core:RetainedEarningsAccumulatedLosses2025-08-3103707018core:RetainedEarningsAccumulatedLosses2024-08-3103707018bus:Director12024-09-012025-08-3103707018bus:RegisteredOffice2024-09-012025-08-3103707018core:FurnitureFittingsToolsEquipment2024-09-012025-08-31037070182023-09-012024-08-3103707018core:LandBuildings2024-09-0103707018core:PlantMachinery2024-09-01037070182024-09-0103707018core:LandBuildings2024-09-012025-08-3103707018core:LandBuildings2025-08-3103707018core:PlantMachinery2025-08-3103707018core:PlantMachinery2024-09-012025-08-3103707018core:LandBuildings2024-08-3103707018core:PlantMachinery2024-08-310370701812024-09-012025-08-3103707018countries:EnglandWales2024-09-012025-08-3103707018bus:AuditExempt-NoAccountantsReport2024-09-012025-08-3103707018bus:PrivateLimitedCompanyLtd2024-09-012025-08-3103707018bus:SmallEntities2024-09-012025-08-3103707018bus:FullAccounts2024-09-012025-08-31
Company registration number:
03707018
Mono Properties Limited
Unaudited Filleted Financial Statements for the year ended
31 August 2025
Mono Properties Limited
Statement of Financial Position
31 August 2025
20252024
Note££
Fixed assets    
Tangible assets 5
5,479,564
 
5,451,792
 
Current assets    
Debtors 6
4,179,250
 
3,760,305
 
Cash at bank and in hand
765,800
 
937,670
 
4,945,050
 
4,697,975
 
Creditors: amounts falling due within one year 7
(502,547
 )
(461,727
 )
Net current assets
4,442,503
 
4,236,248
 
Total assets less current liabilities 9,922,067   9,688,040  
Creditors: amounts falling due after more than one year 8
(974,589
 )
(958,137
 )
Provisions for liabilities
(606,256
 )
(599,113
 )
Net assets
8,341,222
 
8,130,790
 
Capital and reserves    
Called up share capital
1,000
 
1,000
 
Profit and loss account
8,340,222
 
8,129,790
 
Shareholders funds
8,341,222
 
8,130,790
 
For the year ending
31 August 2025
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
20 May 2026
, and are signed on behalf of the board by:
Mrs A Yianni
Director
Company registration number:
03707018
Mono Properties Limited
Notes to the Financial Statements
Year ended
31 August 2025

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Unit 4 Baird Road
,
Enfield
,
Middlesex
,
EN1 1SJ
, .
The principal activity of the company is that of property investment.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the presentation and functional currency of the company.
The following accounting policies have been applied consistently throughout the year.

Judgements and key sources of estimation uncertainty

The company makes certain estimates and assumptions regarding the future. Estimates and judgements are continually evaluated based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the future, actual experience may differ from these estimates and assumptions. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial period are discussed below.
- Useful lives of depreciable assets
Management reviews the useful lives of depreciable assets at each reporting date to ensure that the useful lives represent a reasonable estimate of likely period of benefit to the Company. Actual useful lives, however, may vary due to unforseen events.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment
20% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Investment property

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

4 Average number of employees

The average number of persons employed by the company during the year was
3
(2024:
3.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost or valuation      
At
1 September 2024
5,448,587
 
191,117
 
5,639,704
 
Revaluations
28,413
  -  
28,413
 
At
31 August 2025
5,477,000
 
191,117
 
5,668,117
 
Depreciation      
At
1 September 2024
 -  
187,912
 
187,912
 
Charge -  
641
 
641
 
At
31 August 2025
 -  
188,553
 
188,553
 
Carrying amount      
At
31 August 2025
5,477,000
 
2,564
 
5,479,564
 
At 31 August 2024
5,448,587
 
3,205
 
5,451,792
 
The fair value of the property at 31 August 2025 has been arrived at on the basis of a valuation carried out at the date by Mrs A Yianni, a director of the company who is not a professionally qualified valuer. The historical cost of the property is £2,292,783 (2024 - 2,292,783).
Included within land and building there are two properties with a net book value of £1,065,000 (2024 - £1,034,905) which are held by Mr A. Yianni, in trust on behalf of the company.

6 Debtors

20252024
££
Trade debtors
287
 
548
 
Amounts owed by group undertakings and undertakings in which the company has a participating interest
136,938
 
135,513
 
Other debtors
4,042,025
 
3,624,244
 
4,179,250
 
3,760,305
 

7 Creditors: amounts falling due within one year

20252024
££
Bank loans and overdrafts
37,460
 
91,373
 
Trade creditors
30,543
 
18,337
 
Amounts owed to group undertakings and undertakings in which the company has a participating interest
228,223
 
227,270
 
Taxation and social security
61,914
 
118,343
 
Other creditors
144,407
 
6,404
 
502,547
 
461,727
 

8 Creditors: amounts falling due after more than one year

20252024
££
Bank loans and overdrafts
974,589
 
958,137
 
In 2020, the company refinanced its existing loan of £1,000,000 with Barclays Bank. This is a 5 year capital repayment loan with interest charged at 2.95% above the bank base rate per annum. The balance of the loan as at the year-end was £718,801 (2024: £756,261).
The loans are secured by a first legal charge over the company's properties and also by a cross guarantee and debenture by and between Mono Holdings Limited, Mono Properties Limited and Mono Limited.
Included within bank loans is one loan in relation to the acquisition of two properties held in Trust by Mr A. Yianni on behalf of the company. The balance outstanding on this loan as at the year end was £293,249 (2024 - £293,249).

10 Controlling party

There is no single ultimate controlling party.