Mile Property Limited - Period Ending 2026-03-31

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Registration number: NI726306

Mile Property Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Period from 12 February 2025 to 31 March 2026

Mile Property Limited

Contents

Abridged Balance Sheet	1
Notes to the Unaudited Abridged Financial Statements	2 to 3

Mile Property Limited

(Registration number: NI726306)
Abridged Balance Sheet as at 31 March 2026

	Note	2026 £
Fixed assets
Investment property	4	303,248
Current assets
Debtors		916
Cash at bank and in hand		12,847
		13,763
Creditors: Amounts falling due within one year		(309,716)
Net current liabilities		(295,953)
Net assets		7,295
Capital and reserves
Called up share capital		600
Profit and loss account		6,695
Total equity		7,295

For the financial period ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 2 November 2026 and signed on its behalf by:

Mr J Yarr

Director

Mrs M Yarr

Director

Mile Property Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 12 February 2025 to 31 March 2026

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
56 Bryansford Road
Newcastle
County Down
BT33 0DW

These financial statements were authorised for issue by the Board on 2 November 2026.

2	Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Disclosure of long or short period

These accounts have been prepared for a period of longer than one year as this is the first year of trading post incorporation.

Going concern

The accounts have been prepared on a going concern basis. Of the company's liabilities, an amount is owed to the directors who have agreed to continue to support the company and not demand repayment of this amount to the extent that any such repayment would jeopardise the future of the company.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Mile Property Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 12 February 2025 to 31 March 2026

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4 Investment properties

	2026 £
Additions	303,248

There has been no valuation of investment property by an independent valuer.

5	Related party transactions

Advances to directors

Mr J Yarr

During the period Mr J Yarr went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £600. At the year end the amount outstanding from Mr J Yarr was £Nil.