Company Registration No. 07634780 (England and Wales)
MINSTERGATE SCARBOROUGH LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
MINSTERGATE SCARBOROUGH LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
MINSTERGATE SCARBOROUGH LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
-
-
Creditors: amounts falling due within one year
4
-
0
(10,061)
Net current liabilities
-
0
(10,061)
Net assets/(liabilities)
-
0
(10,061)
Capital and reserves
Called up share capital
5
5,000
5,000
Profit and loss reserves
(5,000)
(15,061)
Total equity
-
0
(10,061)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 16 April 2024 and are signed on its behalf by:
J. H. Cuff
Director
Company Registration No. 07634780
MINSTERGATE SCARBOROUGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Minstergate Scarborough Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit B, Rotterdam Road, Hull, HU7 OXD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Reporting period

The financial statements are presented for the twelve months ended 31 March 2024. Comparative amounts presented in the financial statements (including the related notes) are for a fifteen month period and are not directly comparable.

1.3
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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

MINSTERGATE SCARBOROUGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6

Related party transactions

Advantage has been taken under FRS 102 section 33.1A of the exemption available to groups of companies not to disclose transactions and balances involving group entities.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
4
4
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
-
0
10,061
MINSTERGATE SCARBOROUGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £100 each
50
50
5,000
5,000
6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Douglas Baker FCCA
Statutory Auditor:
Dutton Moore
7
Parent company

The company is a subsidiary of Minstergate Holdings Limited, a company registered in England and Wales and whose registered office is Unit B, Rotterdam Road, Hull, HU7 0XD. The company is controlled by M. P. Campey and H. J. Campey via their shareholding in the company’s parent undertaking. Minstergate Holdings Limited is the parent undertaking of the smallest and largest group which consolidates the financial information of the company.

2024-03-312023-04-01false16 April 2024CCH SoftwareCCH Accounts Production 2023.100No description of principal activityThis audit opinion is unqualifiedM. P. CampeyH. J. CampeyS. P. ForsterJ. H. Cuff076347802023-04-012024-03-31076347802024-03-3107634780core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3107634780core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-31076347802023-03-3107634780core:ShareCapital2024-03-3107634780core:ShareCapital2023-03-3107634780core:RetainedEarningsAccumulatedLosses2024-03-3107634780core:RetainedEarningsAccumulatedLosses2023-03-3107634780bus:Director42023-04-012024-03-31076347802022-01-012023-03-3107634780core:CurrentFinancialInstruments2024-03-3107634780core:CurrentFinancialInstruments2023-03-3107634780bus:PrivateLimitedCompanyLtd2023-04-012024-03-3107634780bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3107634780bus:FRS1022023-04-012024-03-3107634780bus:Audited2023-04-012024-03-3107634780bus:Director12023-04-012024-03-3107634780bus:Director22023-04-012024-03-3107634780bus:Director32023-04-012024-03-3107634780bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP