Registered number
00784455
V. Messinger & Sons Limited
Filleted Accounts
31 December 2023
V. Messinger & Sons Limited
Registered number: 00784455
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 850,000 850,000
Current assets
Debtors 4 8,148 12,398
Cash at bank and in hand 187,196 188,445
195,344 200,843
Creditors: amounts falling due within one year 5 (73,555) (56,765)
Net current assets 121,789 144,078
Total assets less current liabilities 971,789 994,078
Provisions for liabilities (18,673) (14,191)
Net assets 953,116 979,887
Capital and reserves
Called up share capital 6,000 6,000
Share premium 17,000 17,000
Revaluation reserve 6 824,248 824,248
Profit and loss account 105,868 132,639
Shareholders' funds 953,116 979,887
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M A Messinger
Director
Approved by the board on 16 April 2024
V. Messinger & Sons Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Rental income is measured at the fair value of the consideration received or receivable. Income represents revenue earned from the letting out of the investment property. Income is recognised by reference to the rental periods and the terms of the lease.
Investment property
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Investment property
£
Cost or valuation
At 1 January 2023 850,000
At 31 December 2023 850,000
Depreciation
At 31 December 2023 -
Net book value
At 31 December 2023 850,000
At 31 December 2022 850,000
Investment property - Freehold land and buildings: 2023 2022
£ £
Historical cost 25,752 25,752
Cumulative depreciation based on historical cost - -
25,752 25,752
The investment property was last valued on 3 February 2023 by Owen Isherwood, on an open market, existing use basis.
4 Debtors 2023 2022
£ £
Trade debtors 4,248 8,498
Other debtors 3,900 3,900
8,148 12,398
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors (10) -
Taxation and social security costs 6,750 7,036
Other creditors 66,815 49,729
73,555 56,765
6 Revaluation reserve 2023 2022
£ £
At 1 January 2023 824,248 813,548
Gain on revaluation of land and buildings - 10,700
At 31 December 2023 824,248 824,248
7 Related party transactions
During the year dividends of £37,108 were paid to shareholders who were directors of the company (2022: £12,370).
8 Other information
V. Messinger & Sons Limited is a private company limited by shares and incorporated in England. Its registered office is:
Pegasus
Chapel Lane
Friskney
Boston
England, PE22 8RX
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