Meyson Properties Ltd. - Accounts to registrar (filleted) - small 23.1.5

REGISTERED NUMBER: 12121947 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

MEYSON PROPERTIES LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P A Meyer

A P Collins

SECRETARY:

REGISTERED OFFICE:

Unit 4B, Austin Park

Yeoman Road

Ringwood

Hampshire

BH24 3FG

REGISTERED NUMBER:

12121947 (England and Wales)

ACCOUNTANTS:

Accountants & Business Solutions Ltd

Independant Certified Practising Accountants

Bokers Farm Office

Poole Road

Lytchett Matravers

POOLE

Dorset

BH16 6AG

FIXED ASSETS

Tangible assets

4

36,509

48,678

Investment property

5

14,835,000

13,045,472

14,871,509

13,094,150

CURRENT ASSETS

Stocks

1,569,687

-

Debtors

6

45,885

482,136

Cash at bank

181,248

-

1,796,820

482,136

CREDITORS

Amounts falling due within one year

7

2,075,126

1,497,710

NET CURRENT LIABILITIES

(278,306

)

(1,015,574

)

TOTAL ASSETS LESS CURRENT LIABILITIES

14,593,203

12,078,576

CREDITORS

Amounts falling due after more than one year

8

(6,779,593

)

(5,916,697

)

PROVISIONS FOR LIABILITIES

(632,711

)

(337,614

)

NET ASSETS

7,180,899

5,824,265

CAPITAL AND RESERVES

Called up share capital

1

1

Other reserves

4,000,000

4,000,000

Retained earnings

3,180,898

1,824,264

7,180,899

5,824,265

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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 16 February 2024 and were signed on its behalf by:

P A Meyer - Director

1.	STATUTORY INFORMATION

Meyson Properties 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.

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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance

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.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2022

and 31 July 2023

73,019

DEPRECIATION

At 1 August 2022

24,341

Charge for year

12,169

At 31 July 2023

36,510

NET BOOK VALUE

At 31 July 2023

36,509

At 31 July 2022

48,678

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 August 2022

and 31 July 2023

73,019

DEPRECIATION

At 1 August 2022

24,341

Charge for year

12,169

At 31 July 2023

36,510

NET BOOK VALUE

At 31 July 2023

36,509

At 31 July 2022

48,678

5.	INVESTMENT PROPERTY

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

The directors use their knowledge of current market conditions and supplementing information from

independent valuers gathered in conversations and research of freely available information to determine the

value of investment properties.

Fair value at 31 July 2023 is represented by:

£

Valuation in 2021

592,500

Valuation in 2022

1,184,418

Valuation in 2023

1,544,712

Cost

11,513,370

14,835,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.23

31.7.22

£

£

Trade debtors

44,258

61,200

Other debtors

1,627

420,936

45,885

482,136

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.23

31.7.22

£

£

Bank loans and overdrafts

219,446

494,318

Hire purchase contracts

42,356

6,320

Trade creditors

586,209

586,940

Taxation and social security

176,275

25,973

Other creditors

1,050,840

384,159

2,075,126

1,497,710

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.23

31.7.22

£

£

Bank loans

6,778,073

5,872,821

Hire purchase contracts

1,520

43,876

6,779,593

5,916,697

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.23

31.7.22

£

£

Bank overdraft

-

172,007

Bank loans

6,997,519

6,195,132

Hire purchase contracts

43,876

50,196

7,041,395

6,417,335

The hire purchase liabilities are secured on the assets acquired with the loan.

The following legal charges are registered at Companies House:

Fixed & Floating Charge

Date:15/09/2019

Charge Code: 1212 1947 0001

Person Entitled: Lloyds Bank PLC

Brief description: NONE

(floating charge covers all the property of undertaking of the company)

Taken over from GPCI/1 LIMITED when the associated assets where transferred

Fixed & Floating Charge

Date:16/09/2019

Charge Code: 1212 1947 0002

Person Entitled: Lloyds Bank PLC

Brief description: THE FREEHOLD PROPERTIES KNOWN AS: PLOT 7 FOREST GATE BUSINESS PARK - NOW KNOWN AS UNITS 1, 2 AND 3 AUSTIN PARK , BH24 3FG; PLOT 9 FOREST GATE BUSINESS PARK, RINGWOOD, BH24 3FG; 2-4 WEST STREET, WAREHAM, DORSET, BH20 4JU; NEW UNIT AT 7 CROWN COURT, WIMBORNE, BH21 1JB; 62-64 NUFFIELD ROAD, NUFFIELD INDUSTRIAL ESTATE, POOLE, BH17 0RS; 1 AND 4B, PHASE 1, AUSTIN PARK, FOREST GATE BUSINES PARK, TEOMAN ROAD, RINGWOOD, BH24 3FG; UNITS 22 AND 23 FANCY ROAD, POOLE AKA BRIXEY BUSINESS PARK, BH12 4PB; AND THE LEASEHOLD PREMISES KNOWN AS: SECOND FLOOR OFFICE, CROWN COURT, 6B THE SQUARE, WIMBORNE, BH21 1JA; 6 THE SQUARE, WIMBORNE, BH21 1JA; FIRST FLOOR OFFICE, CROWN COURT, 6B THE SQUARE, WIMBORNE, BH21 1JA; GROUND FLOOR SHOP, 5 CROWN CT, THE SQUARE, WIMBORNE, BH21 1LP; UNIT 1 CHEVRON BUSINESS PARK, LIMEKILN LANE, SO45 SQL

Taken over from GPCI/1 LIMITED whent he associated assets were transferred

Fixed & Floating Charge

Date:25/09/2020

Charge Code: 1212 1947 0003

Person Entitled: Lloyds Bank PLC

Brief description: THE LAND AND BUILDINGS KNOWN LAND TO THE REAR OF 24 NORTH LODGE ROAD POOLE BH14 9BB REGISTERED AT HM LAND REGISTRY UNDER TITLE

NUMBER DT102860

Fixed & Floating Charge

Date:17/12/2020

Charge Code: 1212 1947 0004

Person Entitled: Lloyds Bank PLC

Brief description: THE LAND AND BUILDINGS KNOWN AS 18 CORN MARKET, WIMBORNE,

DORSET BH21 1JL REGISTERED AT HM LAND REGISTRY UNDER TITLE

NUMBER DT385331

Fixed & Floating Charge

Date:24/06/2021

Charge Code: 1212 1947 0005

Person Entitled: Lloyds Bank PLC

Brief description: THE LAND AND BUILDINGS KNOWN AS 1 EAST BOROUGH, WIMBORNE,

DORSET BH21 1PA REGISTERED AT HM LAND REGISTRY UNDER TITLE

NUMBER DT332409

Fixed & Floating Charge

Date:17/09/2021

Charge Code: 1212 1947 0006

Person Entitled: Lloyds Bank PLC

Brief description: THE LAND AND BUILDINGS KNOWN AS IMBERS YARD LYING TO THE

WEST OF WARREN ROAD, POOLE AND KNOWN AS 30 WARREN ROAD,

POOLE BH14 9HP REGISTERED AT HM LAND REGISTRY UNDER TITLE

NUMBER DT266482.

Fixed Charge

Date:29/10/2021

Charge Code: 1212 1917 0007

Person Entitled: Lendinvest BTL Limited

Brief description: 10, 11A AND 11B MELBOURNE ROAD, BOURNEMOUTH (BH8 8RG)

REGISTERED AT H.M. LAND REGISTRY WITH TITLE NUMBER DT52476.

Cross guarantee relating to Devon Bramble Ltd

Fixed & Floating Charge

Date:29/07/2022

Charge Code: 1212 1947 0008

Person Entitled: Lloyds Bank PLC

Brief description: BY WAY OF LEGAL MORTGAGE THE FREEHOLD PROPERTY KNOWN AS

UNIT G1 THE FULCRUM, VANTAGE WAY, POOLE, DORSET, BH12 4NU.

Fixed & Floating Charge

Date:23/11/2022

Charge Code: 1212 1947 0009

Person Entitled: Lloyds Bank PLC

Brief description: BY WAY OF LEGAL MORTGAGE THE PROPERTY KNOWN AS

LAND AT EMBANKMENT WAY, RINGWOOD, BH24 1EU

Fixed & Floating Charge

Date:19/05/2023

Charge Code: 1212 1947 0010

Person Entitled: Lloyds Bank PLC

Brief description: BY WAY OF LEGAL MORTGAGE THE FREEHOLD PROPERTY KNOWN AS

OR BEING 17 CORN MARKET, WIMBORNE, DORSET, BH21 1JL

Fixed & Floating Charge

Date:19/05/2023

Charge Code: 1212 1947 0011

Person Entitled: Lloyds Bank PLC

Brief description: BY WAY OF LEGAL MORTGAGE THE FREEHOLD PROPERTY KNOWN AS

OR BEING LAND ON THE NORTH SIDE OF 15 CORN MARKET, WIMBORNE, DORSET, BH21 1JL

10.	RELATED PARTY DISCLOSURES

Loans to related parties

Jade Aden Interiors Limited, associated company with common directors £61,971 (2022 £203,042)

Brixey Management Company Ltd, associated company with common directors £1,526 (2022 £1,526)

GP Commerical Investments Limited, associated company with common directors £100 (2022 £4,000)

Loans from related Parties

Graham Gibson - shareholder £626.661 (2022 £ 245,661)