Minster Properties Space To Work Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 10203817 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2026

FOR

MINSTER PROPERTIES SPACE TO WORK LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr Michael John Singleton

Mr Timothy Stuart Marshall

Mr Henry Clive Richardson

REGISTERED OFFICE:

56 Gladstone Lane

Scarborough

North Yorkshire

YO12 7BS

REGISTERED NUMBER:

10203817 (England and Wales)

ACCOUNTANTS:

Fortus Limited

Business Advisors & Accountants

5 & 6 Manor Court

Manor Garth

Scarborough

North Yorkshire

YO11 3TU

FIXED ASSETS

Tangible assets

4

697

818

Investment property

5

650,000

650,697

650,818

CURRENT ASSETS

Debtors

6

7,618

7,009

Cash at bank

29,094

57,221

36,712

64,230

CREDITORS

Amounts falling due within one year

7

227,407

274,562

NET CURRENT LIABILITIES

(190,695

)

(210,332

)

TOTAL ASSETS LESS CURRENT LIABILITIES

460,002

440,486

PROVISIONS FOR LIABILITIES

76,368

76,391

NET ASSETS

383,634

364,095

CAPITAL AND RESERVES

Called up share capital

99

Fair value reserve

8

260,560

Retained earnings

122,975

103,436

SHAREHOLDERS' FUNDS

383,634

364,095

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2026 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2026 and were signed on its behalf by:

Mr Michael John Singleton - Director

1.	STATUTORY INFORMATION

Minster Properties Space To Work Ltd 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 (£).

The level of rounding used in the financial statements is to the nearest £1.

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.

Turnover

Turnover represents rental income arising from investment property and is recognised on a straight line basis over the lease term.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Investment property

Investment properties are properties held to earn rentals or for capital appreciation or both.

Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss in the period in which they arise. Deferred taxation is provided on these gains.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Going concern - basis of preparation

In assessing the appropriateness of the application of the going concern basis, the directors have considered the uncertainties around the general economic environment, the current and future trading performance of the company and available cash. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, accordingly the continue to adopt the going concern basis in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2025 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 June 2025

and 31 May 2026

2,499

DEPRECIATION

At 1 June 2025

1,681

Charge for year

121

At 31 May 2026

1,802

NET BOOK VALUE

At 31 May 2026

697

At 31 May 2025

818

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2025

and 31 May 2026

650,000

NET BOOK VALUE

At 31 May 2026

650,000

At 31 May 2025

650,000

Investment properties included at fair value would have been included on a historical cost basis at:

2026

2025

£

Cost

331,538

The completed investment properties are stated at fair value in accordance with the requirements of Section 1A ''Small Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland''.

The investment properties have been valued by the directors at fair value taking into account existing tenancy arrangements.

During the year an increase in the fair value of investment properties of £nil (2025 £nil) has been included directly in the profit and loss account.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade debtors

6,669

6,288

Prepayments and accrued income

949

721

7,618

7,009

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Bonds held

1,511

Trade creditors

633

174

Corporation tax

6,060

6,405

Other creditors

-

2,459

Directors' current accounts

210,942

255,780

Accruals and deferred income

8,261

8,233

227,407

274,562

8.

RESERVES

Fair

value

reserve

£

At 1 June 2025

and 31 May 2026

260,560

9.	RELATED PARTY DISCLOSURES

Included within creditors due within one year is £210,942 (2025: £255,780) owing to a director of the company . This loan is deemed to be repayable on demand and interest at a rate of 5% has been
charged to the company on the amount outstanding.