Registered number
11330986
Meadowcroft Ugthorpe Ltd
Unaudited Filleted Accounts
30 April 2022
Meadowcroft Ugthorpe Ltd
Registered number: 11330986
Balance Sheet
as at 30 April 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 317,951 251,084
Current assets
Debtors 4 17,541 152
Cash at bank and in hand 95,673 56,768
113,214 56,920
Creditors: amounts falling due within one year 5 (316,974) (322,428)
(203,760) (265,508)
Total assets less current liabilities 114,191 (14,424)
Creditors: amounts falling due after more than one year 6 (22,458) -
Net assets/(liabilities) 91,733 (14,424)
Capital and reserves
Called up share capital 100 100
Profit and loss account 91,633 (14,524)
Shareholder's funds 91,733 (14,424)
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 her 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.
Mrs D Parkes
Director
Approved by the board on 19 August 2022
Meadowcroft Ugthorpe Ltd
Notes to the Accounts
for the year ended 30 April 2022
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Freehold buildings N/A
Leasehold land and buildings N/A
Plant and machinery over 10 years
Fixtures, fittings, tools and equipment 10% Reducing balance
Motor vehicles 20% Reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 7 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2021 207,610 55,726 4,000 267,336
Additions 2,552 20,165 75,603 98,320
Disposals - - (12,750) (12,750)
At 30 April 2022 210,162 75,891 66,853 352,906
Depreciation
At 1 May 2021 - 15,452 800 16,252
Charge for the year - 6,133 12,570 18,703
At 30 April 2022 - 21,585 13,370 34,955
Net book value
At 30 April 2022 210,162 54,306 53,483 317,951
At 30 April 2021 207,610 40,274 3,200 251,084
4 Debtors 2022 2021
£ £
Trade debtors 17,393 -
Other debtors 148 152
17,541 152
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 1,163 1,211
Taxation and social security costs 17,740 12,249
Other creditors 298,071 308,968
316,974 322,428
6 Creditors: amounts falling due after one year 2022 2021
£ £
Obligations under finance lease and hire purchase contracts 22,458 -
7 Other information
Meadowcroft Ugthorpe Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Meadowcroft Cottage
Ugthorpe
Whitby
North Yorkshire
YO21 2BL
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