| Miram 3 Limited |
| Registered number: |
11676728 |
| Balance Sheet |
| as at 31 December 2021 |
|
| Notes |
|
|
2021 |
|
|
2020 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
1,817,410 |
|
|
1,817,410 |
|
| Current assets |
| Debtors |
4 |
|
1,051 |
|
|
1 |
|
| Creditors: amounts falling due within one year |
5 |
|
(758,747) |
|
|
(770,476) |
|
| Net current liabilities |
|
|
|
(757,696) |
|
|
(770,475) |
|
| Total assets less current liabilities |
|
|
|
1,059,714 |
|
|
1,046,935 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(1,050,000) |
|
|
(1,050,000) |
|
|
|
| Net assets/(liabilities) |
|
|
|
9,714 |
|
|
(3,065) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1 |
|
|
1 |
| Profit and loss account |
|
|
|
9,713 |
|
|
(3,066) |
|
| Shareholder's funds |
|
|
|
9,714 |
|
|
(3,065) |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| R Davies |
| Director |
| Approved by the board on 23 September 2022 |
|
| Miram 3 Limited |
| Notes to the Accounts |
| for the year ended 31 December 2021 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover represents rent receivable. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Leasehold land and buildings |
nil (long leases) |
|
|
Investments |
|
Investment properties are initially recorded at cost and any directly attributable expenditure.
Investment properties whose fair value can be measured reliably are measured at fair value. The gain or loss on revaluation is recognised in the Statement of Comprehensive Income in the period in which it arises. Such gains or losses are shown in a non-distributable fair value reserve net of any related deferred taxation. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Employees |
2021 |
|
2020 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Cost |
|
At 1 January 2021 |
1,817,410 |
|
At 31 December 2021 |
1,817,410 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 December 2021 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2021 |
1,817,410 |
|
At 31 December 2020 |
1,817,410 |
|
In the opinion of the director the value of land and buildings, comprising leasehold property, is not materially different from the cost. |
|
|
| 4 |
Debtors |
2021 |
|
2020 |
| £ |
£ |
|
|
Other debtors |
1,051 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2021 |
|
2020 |
| £ |
£ |
|
|
Taxation and social security costs |
2,278 |
|
- |
|
Other creditors |
756,469 |
|
770,476 |
|
|
|
|
|
|
758,747 |
|
770,476 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2021 |
|
2020 |
| £ |
£ |
|
|
Bank loans |
1,050,000 |
|
1,050,000 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Loans |
2021 |
|
2020 |
| £ |
£ |
|
Creditors include: |
|
Instalments falling due for payment after more than five years |
420,000 |
|
630,000 |
|
|
|
|
|
|
|
|
|
|
|
Secured bank loans |
1,050,000 |
|
1,050,000 |
|
|
|
|
|
|
|
|
|
|
Investec bank hold a first charge over the company's property. |
|
|
| 8 |
Related party transactions |
|
|
At 31 December 2021 a loan of £733,516 was due to Aardee Investment Holdings Limited.(2020: £767,659) Interest of £0 (2020: £19,250) was payable to this company. |
|
|
| 9 |
Controlling party |
|
|
The direct holding company is Aardee Real Estate Enterprises Limited and the ultimate parent company is Aardee Investment Holdings Limited. Both companies are incorporated in England.
The ultimate controlling party is R Davies, director. |
|
|
| 10 |
Other information |
|
|
Miram 3 Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
C/o Cowen Suite, Kinetic Centre |
|
Theobald Street |
|
Borehamwood |
|
Herts. |
|
WD6 4PJ |
