Middleton Enterprises (Holdings) Limited 08811822 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of a holding company. Digita Accounts Production Advanced 6.30.9574.0 true false true true 08811822 2022-04-01 2023-03-31 08811822 2023-03-31 08811822 core:ShareCapital 2023-03-31 08811822 core:SharePremium 2023-03-31 08811822 core:CurrentFinancialInstruments 2023-03-31 08811822 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 08811822 core:CostValuation 2023-03-31 08811822 bus:SmallEntities 2022-04-01 2023-03-31 08811822 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08811822 bus:FullAccounts 2022-04-01 2023-03-31 08811822 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 08811822 bus:RegisteredOffice 2022-04-01 2023-03-31 08811822 bus:CompanySecretary1 2022-04-01 2023-03-31 08811822 bus:Director1 2022-04-01 2023-03-31 08811822 bus:Director2 2022-04-01 2023-03-31 08811822 bus:Director3 2022-04-01 2023-03-31 08811822 bus:Director4 2022-04-01 2023-03-31 08811822 bus:Director5 2022-04-01 2023-03-31 08811822 bus:Director6 2022-04-01 2023-03-31 08811822 bus:Director8 2022-04-01 2023-03-31 08811822 bus:Director9 2022-04-01 2023-03-31 08811822 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08811822 core:Subsidiary1 2022-04-01 2023-03-31 08811822 core:Subsidiary1 countries:AllCountries 2022-04-01 2023-03-31 08811822 countries:EnglandWales 2022-04-01 2023-03-31 08811822 core:CostValuation 2022-03-31 08811822 2021-04-01 2022-03-31 08811822 2022-03-31 08811822 core:ShareCapital 2022-03-31 08811822 core:SharePremium 2022-03-31 08811822 core:CurrentFinancialInstruments 2022-03-31 08811822 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 08811822 core:Subsidiary1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 08811822

Middleton Enterprises (Holdings) Limited

Filleted Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Middleton Enterprises (Holdings) Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 5

 

Middleton Enterprises (Holdings) Limited

Company Information

Directors

J P Middleton

C Middleton

J E H Middleton

L E Middleton

J C Middleton

D W Alprovich

P R Woolston

N Moore

Company secretary

R L Johnston

Registered office

Quayside Lofts
62 The Close
Newcastle Upon Tyne
NE1 3RJ

Accountants

Azets
Bulman House
Regent Centre
Gosforth
Newcastle upon Tyne
NE3 3LS

 

Middleton Enterprises (Holdings) Limited

(Registration number: 08811822)
Statement of Financial Position as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

10,004

10,004

Current assets

 

Debtors

5

4,200,587

33,540,587

Total assets less current liabilities

 

4,210,591

33,550,591

Creditors: Amounts falling due after more than one year

6

-

(29,340,000)

Net assets

 

4,210,591

4,210,591

Capital and reserves

 

Called up share capital

74,003

74,003

Share premium reserve

4,136,588

4,136,588

Total equity

 

4,210,591

4,210,591

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised for issue by the Board on 24 October 2023 and signed on its behalf by:
 

.........................................
P R Woolston
Director

 

Middleton Enterprises (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is Quayside Lofts, 62 The Close, Newcastle Upon Tyne, NE1 3RJ, United Kingdom.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are prepared in sterling which is the functional currency of the entity.

Group accounts not prepared

The company is the parent of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through shareholder borrowings. The company’s forecasts and projections for the next twelve months show that the company should be able to continue in operational existence for that period, taking into account reasonable possible changes in trading performance.

Based on the factors set out above the directors believe that it remains appropriate to prepare the financial statements on a going concern basis.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Middleton Enterprises (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Debtors

Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Investments

2023
£

2022
£

Investments in subsidiaries

10,004

10,004

Subsidiaries

£

Cost or valuation

At 1 April 2022

10,004

At 31 March 2023

10,004

Carrying amount

At 31 March 2023

10,004

At 31 March 2022

10,004

 

Middleton Enterprises (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

4

Investments (continued)

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Middleton Enterprises Ltd

Quayside Lofts, 62 The Close, Newcastle upon Tyne, NE1 3RJ

Ordinary

100%

100%

 

England and Wales

     

Subsidiary undertakings

Middleton Enterprises Ltd

The principal activity of Middleton Enterprises Ltd is the management of an investment portfolio.

5

Debtors

Note

2023
£

2022
£

Amounts owed by group undertakings

7

4,170,587

33,510,587

Other debtors

 

30,000

30,000

 

4,200,587

33,540,587

Other debtors of £30,000 (2022 - £30,000) comprise amounts due from J E H Middleton, L E Middleton and J C Middleton in respect of their subscriptions for shares in the company.

6

Creditors

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Other non-current financial liabilities

7

-

29,340,000

7

Related party transactions

In previous years, the company has received funding from three director-shareholders. During the year this funding was repaid to the three director-shareholders. The balance outstanding at the year-end is £Nil (2022 - £29,340,000) included within other creditors. The balance is interest free and repayable on demand.