REGISTERED NUMBER: 02338151 (England and Wales)

New Muirgate Properties Limited

Unaudited Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M H Eckersall

R M Brown

SECRETARY:

M H Eckersall

REGISTERED OFFICE:

12 Cedar Close

Epsom

Surrey

KT17 4HG

REGISTERED NUMBER:

02338151 (England and Wales)

BANKERS:

The Royal Bank of Scotland plc

36 St Andrew Square

Edinburgh

EH2 2AD

FIXED ASSETS

Tangible assets

4

-

-

Investments

5

40,000

60,998

Investment property

6

1,240,655

1,137,150

1,280,655

1,198,148

CURRENT ASSETS

Debtors

7

83,706

47,173

Cash in hand

239,730

335,856

323,436

383,029

CREDITORS

Amounts falling due within one year

8

50,510

65,057

NET CURRENT ASSETS

272,926

317,972

TOTAL ASSETS LESS CURRENT LIABILITIES

1,553,581

1,516,120

CREDITORS

Amounts falling due after more than one year

9

(155,236

)

(156,182

)

PROVISIONS FOR LIABILITIES

10

(19,500

)

(19,500

)

NET ASSETS

1,378,845

1,340,438

CAPITAL AND RESERVES

Called up share capital

7,500

7,500

Fair value reserve

11

268,913

259,958

Retained earnings

11

1,102,432

1,072,980

1,378,845

1,340,438

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 November 2025 and were signed on its behalf by:

M H Eckersall - Director

1.	STATUTORY INFORMATION

New Muirgate Properties Limited 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

-

5% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2024

and 31 March 2025

12,500

DEPRECIATION

At 1 April 2024

and 31 March 2025

12,500

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

60,998

Disposals

(20,998

)

At 31 March 2025

40,000

NET BOOK VALUE

At 31 March 2025

40,000

At 31 March 2024

60,998

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

1,137,150

Additions

167,505

Disposals

(64,000

)

At 31 March 2025

1,240,655

NET BOOK VALUE

At 31 March 2025

1,240,655

At 31 March 2024

1,137,150

If the investment properties had not been revalued, they would have been included at the historical cost of £856,792 (2023: £556,792).

In the opinion of the directors, the book value of the properties represents a reasonable approximation to market value.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

19,205

14,442

Loan to Muirgate Properties

64,501

32,731

83,706

47,173

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Mortgage loans

15,000

30,000

Corporation Tax

17,893

23,995

Other creditors

13,617

7,062

Dividends payable

4,000

4,000

50,510

65,057

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Mortgage loans

155,236

156,182

10.	PROVISIONS FOR LIABILITIES

2022

2021

£

£

Deferred tax

19,500

19,500

11.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 April 2024

1,072,980

259,958

1,332,938

Profit for the year

54,407

54,407

Dividends

(16,000

)

(16,000

)

Transfer in the year

(8,955

)

8,955

-

At 31 March 2025

1,102,432

268,913

1,371,345

The fair value reserve represents the net revaluation surplus on investment properties that is not readily distributable as realised earnings.