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REGISTERED NUMBER: 00717315 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

MITHPORT INVESTMENTS LIMITED

MITHPORT INVESTMENTS LIMITED (REGISTERED NUMBER: 00717315)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MITHPORT INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mrs M S Gurney
N J Chase





REGISTERED OFFICE: Dormy House
43 Kingsbury Street
Marlborough
Wiltshire
SN8 1JE





REGISTERED NUMBER: 00717315 (England and Wales)





ACCOUNTANTS: Romsey Accountants GDT Limited
Unit 3, Shelley Farm
Shelley Lane
Ower
Romsey
Hampshire
SO51 6AS

MITHPORT INVESTMENTS LIMITED (REGISTERED NUMBER: 00717315)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 875,000 772,030

CURRENT ASSETS
Debtors 5 20,420 21,713
Cash at bank 232,958 206,301
253,378 228,014
CREDITORS
Amounts falling due within one year 6 17,605 16,755
NET CURRENT ASSETS 235,773 211,259
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,110,773

983,289

PROVISIONS FOR LIABILITIES 64,296 29,301
NET ASSETS 1,046,477 953,988

CAPITAL AND RESERVES
Called up share capital 4,600 4,600
Revaluation reserve 7 333,828 265,853
Capital redemption reserve 4,600 4,600
Other reserves 70,362 70,362
Retained earnings 633,087 608,573
1,046,477 953,988

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

MITHPORT INVESTMENTS LIMITED (REGISTERED NUMBER: 00717315)

BALANCE SHEET - continued
31 MARCH 2023


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 1 December 2023 and were signed on its behalf by:





Mrs M S Gurney - Director


MITHPORT INVESTMENTS LIMITED (REGISTERED NUMBER: 00717315)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Mithport Investments Limited 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principle accounting policies adopted are set out below.

Critical accounting 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.

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

Investment property
Investment properties, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Deferred tax is provided on gains at the rate expected to apply when the property is sold. Changes in fair value are recognised in profit or loss and subsequently transferred to a fair value reserve.

Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss accounts because it excludes items of income or expenses that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.


MITHPORT INVESTMENTS LIMITED (REGISTERED NUMBER: 00717315)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit not the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, expect when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 772,030
Revaluations 102,970
At 31 March 2023 875,000
NET BOOK VALUE
At 31 March 2023 875,000
At 31 March 2022 772,030

Land and buildings with a carrying amount of £875,000 (2023: £768,030) are valued by the directors on the basis of informal advice provided by professional valuers.

Land and buildings are carried at fair value. If land and buildings were measured using the cost model, the carrying amounts would have been approximately £339,824 (2023: £349,361), being cost of £476,876 (2023: £472,876) and depreciation of £137,052 (2023: £127,515).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 834 1,678
Other debtors 19,586 20,035
20,420 21,713

MITHPORT INVESTMENTS LIMITED (REGISTERED NUMBER: 00717315)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Taxation and social security 5,750 4,900
Other creditors 11,855 11,855
17,605 16,755

7. RESERVES
Revaluation
reserve
£   
At 1 April 2022 265,853
Revaluation transfer 102,970
Deferred Tax transfer (34,995 )

At 31 March 2023 333,828