Midway Quay (Freehold) Limited 06967273 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is to acquire the freehold interest in properties at The Boardwalk, Sovereign Harbour, Eastbourne. Digita Accounts Production Advanced 6.30.9574.0 true true 06967273 2022-08-01 2023-07-31 06967273 2023-07-31 06967273 bus:OrdinaryShareClass1 2023-07-31 06967273 core:RetainedEarningsAccumulatedLosses 2023-07-31 06967273 core:ShareCapital 2023-07-31 06967273 core:SharePremium 2023-07-31 06967273 core:CurrentFinancialInstruments 2023-07-31 06967273 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 06967273 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 06967273 bus:SmallEntities 2022-08-01 2023-07-31 06967273 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 06967273 bus:FilletedAccounts 2022-08-01 2023-07-31 06967273 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 06967273 bus:RegisteredOffice 2022-08-01 2023-07-31 06967273 bus:CompanySecretary1 2022-08-01 2023-07-31 06967273 bus:Director1 2022-08-01 2023-07-31 06967273 bus:Director10 2022-08-01 2023-07-31 06967273 bus:Director8 2022-08-01 2023-07-31 06967273 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 06967273 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 06967273 core:OtherRelatedParties 2022-08-01 2023-07-31 06967273 countries:EnglandWales 2022-08-01 2023-07-31 06967273 2021-08-01 2022-07-31 06967273 2022-07-31 06967273 bus:OrdinaryShareClass1 2022-07-31 06967273 core:RetainedEarningsAccumulatedLosses 2022-07-31 06967273 core:ShareCapital 2022-07-31 06967273 core:SharePremium 2022-07-31 06967273 core:CurrentFinancialInstruments 2022-07-31 06967273 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 06967273 core:Non-currentFinancialInstruments core:AfterOneYear 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06967273

Midway Quay (Freehold) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Midway Quay (Freehold) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Midway Quay (Freehold) Limited

Company Information

Directors

Mr Alan Keith Yeomans

Mrs Dilys Joan Iverson

Mr Ronald John Cox

Company secretary

Estate Services (Southern) Ltd T/A Fell Reynolds

Registered office

Thamesbourne Lodge
Station Road
Bourne End
Buckinghamshire
SL8 5QH

 

Midway Quay (Freehold) Limited

(Registration number: 06967273)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

183

167

Cash at bank and in hand

 

201,082

201,882

 

201,265

202,049

Creditors: Amounts falling due within one year

5

(2,671)

(2,671)

Total assets less current liabilities

 

198,594

199,378

Creditors: Amounts falling due after more than one year

5

(58,325)

(58,325)

Net assets

 

140,269

141,053

Capital and reserves

 

Called up share capital

6

205

205

Share premium reserve

148,020

148,020

Retained earnings

(7,956)

(7,172)

Shareholders' funds

 

140,269

141,053

For the financial year ending 31 July 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 accounts 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 accounts.

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 Profit and Loss Account.

Approved and authorised by the Board on 17 April 2024 and signed on its behalf by:
 

.........................................
Mr Ronald John Cox
Director

   
     
 

Midway Quay (Freehold) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 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:
Thamesbourne Lodge
Station Road
Bourne End
Buckinghamshire
SL8 5QH
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 except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade 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.

 

Midway Quay (Freehold) Limited

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

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 3 (2022 - 3).

4

Debtors

Current

2023
£

2022
£

Prepayments

183

167

 

183

167

 

Midway Quay (Freehold) Limited

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

5

Creditors

Creditors: amounts falling:

2023
£

2022
£

Due within one year

Accruals

2,671

2,671

Due after one year

Other non-current financial liabilities

58,325

58,325

6

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

205

205

205

205

       
 

Midway Quay (Freehold) Limited

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

7

Related party transactions

Summary of transactions with other related parties

A number of the shareholders have loaned money to the company in order to assist with the acquisition of a freehold property. At present the loans are interest free and there are no fixed terms for repayment. Once the freehold property has been acquired and the company receives ground rents it is the intention to pay interest at 4.5% per annum. The total loans outstanding are shown under creditors falling due after more than one year.

During the year nil (2022 - £Nil) was repaid to the shareholders.

The value of the loans received from shareholders who are also directors are £1,600 (2022 - £1,600)