Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28No description of principal activity2022-03-01truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.11true 07966975 2022-03-01 2023-02-28 07966975 2021-03-01 2022-02-28 07966975 2023-02-28 07966975 2022-02-28 07966975 c:Director1 2022-03-01 2023-02-28 07966975 d:OtherPropertyPlantEquipment 2023-02-28 07966975 d:OtherPropertyPlantEquipment 2022-02-28 07966975 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 07966975 d:CurrentFinancialInstruments 2023-02-28 07966975 d:CurrentFinancialInstruments 2022-02-28 07966975 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 07966975 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 07966975 d:ShareCapital 2023-02-28 07966975 d:ShareCapital 2022-02-28 07966975 d:RetainedEarningsAccumulatedLosses 2023-02-28 07966975 d:RetainedEarningsAccumulatedLosses 2022-02-28 07966975 c:FRS102 2022-03-01 2023-02-28 07966975 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 07966975 c:FullAccounts 2022-03-01 2023-02-28 07966975 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registered number: 07966975









MUCKAIRN ESTATE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
MUCKAIRN ESTATE LIMITED
REGISTERED NUMBER: 07966975

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
9,567
10,121

Current assets
  

Debtors: amounts falling due within one year
 5 
1
1

Cash at bank and in hand
  
1,340
1,340

  
1,341
1,341

Creditors: amounts falling due within one year
 6 
(25,035)
(23,395)

Net current liabilities
  
 
 
(23,694)
 
 
(22,054)

  

Net liabilities
  
(14,127)
(11,933)


Capital and reserves
  

Called up share capital 
  
2,001
2,001

Profit and loss account
  
(16,128)
(13,934)

  
(14,127)
(11,933)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 November 2023.




K Macmillan
Director

The notes on pages 3 to 6 form part of these financial statements.
Page 1

 
MUCKAIRN ESTATE LIMITED
REGISTERED NUMBER: 07966975
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023


Page 2

 
MUCKAIRN ESTATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Muckairn Estate Limited ("the company") is a private company limited by shares and incorporated in England and Wales. The address of its registered office is Long Meadow Farm, Aston Hill, Aston Clinton, Bucks, HP22 5NQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

  
2.2

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical costs includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Tangible fixed assets are depreciated on the following annual bases:
        Orchard  -  20 years straight line
Depreciation has not been charged during the year on the trees as it is the opinion of the director that its life expectancy is sufficient to mean any depreciation would be immaterial. 

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

 
2.3

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
MUCKAIRN ESTATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Page 4

 
MUCKAIRN ESTATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.6
Financial instruments (continued)


Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Orchard

£



Cost


At 1 March 2022
13,445



At 28 February 2023

13,445



Depreciation


At 1 March 2022
3,324


Charge for the year on owned assets
554



At 28 February 2023

3,878



Net book value



At 28 February 2023
9,567



At 28 February 2022
10,121

Page 5

 
MUCKAIRN ESTATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Debtors

2023
2022
£
£


Other debtors
1
1



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,640
1,309

Other creditors
22,195
20,886

Accruals and deferred income
1,200
1,200

25,035
23,395



7.


Related party transactions

At the year end, the company owed the director £19,795 (2022 - £18,486).
At the year end, it also owed a company connected by mutual directors £2,400 
(2022 - £2,400)

 
Page 6