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Registered number: 09905840
Mikado Properties Ltd
Financial Statements
For The Year Ended 31 December 2025
SAWHNEY CONSULTING
Harrow Business Centre
429-433 Pinner Road
Harrow
HA1 4HN
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09905840
2025 2024
Notes £ £ £ £
FIXED ASSETS
Investment Properties 5 2,656,089 2,258,179
2,656,089 2,258,179
CURRENT ASSETS
Debtors 6 174,090 251,000
Cash at bank and in hand 11,718 4,938
185,808 255,938
Creditors: Amounts Falling Due Within One Year 7 (1,796,903 ) (1,484,396 )
NET CURRENT ASSETS (LIABILITIES) (1,611,095 ) (1,228,458 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,044,994 1,029,721
Creditors: Amounts Falling Due After More Than One Year 8 (897,078 ) (897,078 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (17,481 ) (17,481 )
NET ASSETS 130,435 115,162
CAPITAL AND RESERVES
Called up share capital 9 4 4
Revaluation reserve 10 74,524 74,524
Profit and Loss Account 55,907 40,634
SHAREHOLDERS' FUNDS 130,435 115,162
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For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Nirvair Singh Chadha
Director
28 May 2026
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Mikado Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09905840 . The registered office is 41 Church Street, Enfield, EN2 6AJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represent rent receiveable from investment properties.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures & Fittings 20% SLM
2.4. Investment Properties
Investment Property is measured initially at cost including transaction costs.Subsequent to initial recognition, investment property is stated at fair value. Gain or losses arising from change in the fair value are included in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2024: NIL)
- -
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4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 January 2025 652
As at 31 December 2025 652
Depreciation
As at 1 January 2025 652
As at 31 December 2025 652
Net Book Value
As at 31 December 2025 -
As at 1 January 2025 -
5. Investment Property
2025
£
Fair Value
As at 1 January 2025 2,258,179
Additions 397,910
As at 31 December 2025 2,656,089
6. Debtors
2025 2024
£ £
Due within one year
Other debtors 174,090 251,000
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Corporation tax 1,161 -
Other taxes and social security - 658
Other creditors 1,795,742 1,483,738
1,796,903 1,484,396
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8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 897,078 897,078
Bank loan is secured by a legal first charge over investment properties of the company.
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 4 4
10. Reserves
Revaluation reserve Profit and Loss Account
£ £
As at 1 January 2025 74,524 40,634
Profit for the year and total comprehensive income - 17,273
Dividends paid - (2,000)
As at 31 December 2025 74,524 55,907
11. Comparable Figures
Previous year figures have been regrouped or rearranged to make them comparable with current year figures.
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