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REGISTERED NUMBER: 08622534 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

The Mid Surrey Company Ltd

The Mid Surrey Company Ltd (Registered number: 08622534)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Mid Surrey Company Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTORS: J M Dunlop
A Dunlop
L Walrond





SECRETARY: L Walrond





REGISTERED OFFICE: Studio 16
Cloisters House
8 Battersea Park Road
London
SW8 4BG





REGISTERED NUMBER: 08622534 (England and Wales)





ACCOUNTANTS: Sawin & Edwards LLP Chartered Accountants
Studio 16
Cloisters House
8 Battersea Park Road
London
SW8 4BG

The Mid Surrey Company Ltd (Registered number: 08622534)

Balance Sheet
31 July 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,017 1,246
Investments 5 1,000 1,000
Investment property 6 9,805,000 8,560,000
9,808,017 8,562,246

CURRENT ASSETS
Debtors 7 398,805 68,132
Cash at bank 140,614 544,098
539,419 612,230
CREDITORS
Amounts falling due within one year 8 (54,080 ) (72,677 )
NET CURRENT ASSETS 485,339 539,553
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,293,356

9,101,799

PROVISIONS FOR LIABILITIES 9 (1,875,610 ) (1,564,360 )
NET ASSETS 8,417,746 7,537,439

CAPITAL AND RESERVES
Called up share capital 7,950 7,950
Share premium 6,792,158 6,792,158
Fair value reserve (819,000 ) (819,000 )
Retained earnings 2,436,638 1,556,331
SHAREHOLDERS' FUNDS 8,417,746 7,537,439

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 Mid Surrey Company Ltd (Registered number: 08622534)

Balance Sheet - continued
31 July 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 20 April 2024 and were signed on its behalf by:





A Dunlop - Director


The Mid Surrey Company Ltd (Registered number: 08622534)

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

1. STATUTORY INFORMATION

The Mid Surrey Company 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 Pound Sterling (£).

The financial statements present information about the company as a single entity.

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.

Income from fixed asset investments
Income from fixed asset investments relates to rents received in the United Kingdom. Rental income is recognised in the period in which the tenants occupy the properties.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Furniture, fixtures & fittings and computer equipment- 20% on cost

Other investments
Other investments are held at cost less accumulated impairment losses.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

The Mid Surrey Company Ltd (Registered number: 08622534)

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

2. ACCOUNTING POLICIES - continued

Taxation
The tax expense for the year comprises current tax. Tax is recognised in the income and expenditure account, except that a charge attributable to an item of income and expense recognised as other comprehensive income, or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity, respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

- the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities, or other future taxable profits; and
- any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities, such as other debtors and creditors. Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instruments.

Debtors and creditors
Basic financial assets and liabilities, including other debtors and other creditors, are initially recognised at transaction price, 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. Such assets and liabilities are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash at bank.

Share premium
Share premium arose following a reorganisation in 2013 and reflected the underlying values of the properties.

Going concern
The directors consider that there are no material uncertainties about the company's ability to continue as a going concern. In forming their opinion, the directors have considered a period of one year from the date of signing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

The Mid Surrey Company Ltd (Registered number: 08622534)

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

4. TANGIBLE FIXED ASSETS
Furniture,
fixtures
& fittings
and
computer
equipment
£   
COST
At 1 August 2022 9,139
Additions 1,392
At 31 July 2023 10,531
DEPRECIATION
At 1 August 2022 7,893
Charge for year 621
At 31 July 2023 8,514
NET BOOK VALUE
At 31 July 2023 2,017
At 31 July 2022 1,246

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 August 2022
and 31 July 2023 1,000
NET BOOK VALUE
At 31 July 2023 1,000
At 31 July 2022 1,000

The Mid Surrey Company Ltd (Registered number: 08622534)

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

6. INVESTMENT PROPERTY

Total
COST OR VALUATION£   
At 1 August 20228,560,000
Additions46,904
Net gains from fair value adjustment1,198,096
At 31 July 20239,805,000
NET BOOK VALUE
At 31 July 20239,805,000

At 31 July 20228,560,000

Cost or valuation at 31 July 2023 is represented by:£   

Transfer value at 5 August 20136,415,000
Cost432,649
Net gains from fair value adjustment2,957,351
9,805,000
The net book value represents historic cost, which incorporates the transfer value.

The investment properties were valued on an open market basis on 13 February 2013 by Major Son & Phipps Estate Agents & Valuer, for the purpose of determining the transfer value.

The investment properties were valued on an open market basis on 31 July 2023 by Major Son & Phipps Estate Agents & Valuer and on 18 July 2023 by Annett Associates Chartered Surveyors & Valuer, for the purpose of determining the fair value at the year end.


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 360,457 31,109
Prepayments and acrrued income 38,348 37,023
398,805 68,132

The Mid Surrey Company Ltd (Registered number: 08622534)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 24,682 24,270
Accruals 23,619 20,462
Taxation and social security 5,779 27,945
54,080 72,677

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,875,610 1,564,360

Deferred
tax
£   
Balance at 1 August 2022 1,564,360
Charge to Income Statement during year 311,250
Balance at 31 July 2023 1,875,610

10. RELATED PARTY DISCLOSURES

During the year, the directors were reimbursed £2,351 (2022: £1,953) for expenses paid relating to the properties and general office expenses. Included in creditors at the year-end is an amount owed to the directors totalling £Nil (2022: £1,953).

During the year, total dividends amounting to £31,800 (2022: £31,800) were paid to the directors.