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REGISTERED NUMBER: 08596537 (England and Wales)















Methuen & Gicquel Ltd

Unaudited Financial Statements

for the Year Ended 31 July 2023






Methuen & Gicquel Ltd (Registered number: 08596537)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Methuen & Gicquel Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTORS: T J Gicquel
P M Methuen





REGISTERED OFFICE: New Road
New Inn
Pontypool
NP4 0TL





REGISTERED NUMBER: 08596537 (England and Wales)





ACCOUNTANTS: Griffiths Green Arnold
Accountants & Business Advisors
11 New Street
Pontnewydd
Cwmbran
NP44 1EE

Methuen & Gicquel Ltd (Registered number: 08596537)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,089 14,222
Investment property 5 700,000 700,000
712,089 714,222

CURRENT ASSETS
Cash at bank 4,502 8,693

CREDITORS
Amounts falling due within one year 6 143,053 150,900
NET CURRENT LIABILITIES (138,551 ) (142,207 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

573,538

572,015

CREDITORS
Amounts falling due after more than one year 7 55,482 65,273
NET ASSETS 518,056 506,742

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 9 407,969 -
Retained earnings 110,085 506,740
518,056 506,742

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 April 2024 and were signed on its behalf by:



T J Gicquel - Director


Methuen & Gicquel Ltd (Registered number: 08596537)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Methuen & Gicquel Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

Methuen & Gicquel Ltd (Registered number: 08596537)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 August 2022
and 31 July 2023 43,025
DEPRECIATION
At 1 August 2022 28,803
Charge for year 2,133
At 31 July 2023 30,936
NET BOOK VALUE
At 31 July 2023 12,089
At 31 July 2022 14,222

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022
and 31 July 2023 700,000
NET BOOK VALUE
At 31 July 2023 700,000
At 31 July 2022 700,000

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2022 407,969
Cost 292,031
700,000

The investment property was revalued by the directors on 31 July 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 9,737 9,737
Taxation and social security 3,154 5,772
Other creditors 130,162 135,391
143,053 150,900

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans 55,482 65,273

Methuen & Gicquel Ltd (Registered number: 08596537)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.7.23 31.7.22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 16,534 26,325

8. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Bank loans 65,219 75,010

The bank loan is secured on the property of the company.

9. RESERVES
Revaluation
reserve
£   
Revaluation of property 407,969

At 31 July 2023 407,969