Mitcham Lane Propco Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 13203089 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

MITCHAM LANE PROPCO LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr W P Mead

Mr L S Mead

Mr A J Oliver

Mr C R Patel

REGISTERED OFFICE:

Solar House 282 Chase Road

London

N14 6NZ

REGISTERED NUMBER:

13203089 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

CURRENT ASSETS

Stocks

4

5,249,288

3,211,593

Debtors

5

42,047

790

Cash at bank and in hand

9,917

100

5,301,252

3,212,483

CREDITORS

Amounts falling due within one year

6

5,301,152

3,212,383

NET CURRENT ASSETS

100

100

TOTAL ASSETS LESS CURRENT LIABILITIES

100

100

CAPITAL AND RESERVES

Called up share capital

8

100

100

SHAREHOLDERS' FUNDS

100

100

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2024 and were signed on its behalf by:

Mr C R Patel - Director

1.	STATUTORY INFORMATION

Mitcham Lane Propco 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.

Stocks and work in progress

Property in the course of development is stated at the lower of direct cost and net realisable value. Direct cost comprises the cost of land, development and construction costs to date.

Taxation

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4.

STOCKS

31.7.23

31.7.22

£

£

Work-in-progress

5,249,288

3,211,593

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.23

31.7.22

£

£

VAT

42,047

790

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.23

31.7.22

£

£

Bank loans and overdrafts (see note 7)

-

1,777,564

Trade creditors

21,184

4,740

Amounts owed to group undertakings

5,278,718

1,003,100

Amts owed to related parties

-

300,779

Accrued expenses

1,250

126,200

5,301,152

3,212,383

7.

LOANS

An analysis of the maturity of loans is given below:

31.7.23

31.7.22

£

£

Amounts falling due within one year or on demand:

Bank loans

-

1,777,564

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.23

31.7.22

value:

£

£

10,000

Ordinary

0.01

100

100