Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.12023-01-01falseNo description of principal activity1truetruefalse SC521786 2023-01-01 2023-12-31 SC521786 2022-01-01 2022-12-31 SC521786 2023-12-31 SC521786 2022-12-31 SC521786 c:Director1 2023-01-01 2023-12-31 SC521786 c:RegisteredOffice 2023-01-01 2023-12-31 SC521786 d:PlantMachinery 2023-01-01 2023-12-31 SC521786 d:PlantMachinery 2023-12-31 SC521786 d:PlantMachinery 2022-12-31 SC521786 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC521786 d:CurrentFinancialInstruments 2023-12-31 SC521786 d:CurrentFinancialInstruments 2022-12-31 SC521786 d:Non-currentFinancialInstruments 2023-12-31 SC521786 d:Non-currentFinancialInstruments 2022-12-31 SC521786 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC521786 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 SC521786 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 SC521786 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 SC521786 d:ShareCapital 2023-12-31 SC521786 d:ShareCapital 2022-12-31 SC521786 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC521786 d:RetainedEarningsAccumulatedLosses 2022-12-31 SC521786 c:OrdinaryShareClass1 2023-01-01 2023-12-31 SC521786 c:OrdinaryShareClass1 2023-12-31 SC521786 c:OrdinaryShareClass1 2022-12-31 SC521786 c:FRS102 2023-01-01 2023-12-31 SC521786 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 SC521786 c:FullAccounts 2023-01-01 2023-12-31 SC521786 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC521786 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC521786










MYLNEFIELD DEVELOPMENTS LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 
MYLNEFIELD DEVELOPMENTS LTD
 

COMPANY INFORMATION


Director
Mr D F Easson 




Registered number
SC521786



Registered office
The Gardens
Mylnefield

Invergowrie

Dundee

DD2 5EH




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
MYLNEFIELD DEVELOPMENTS LTD
REGISTERED NUMBER: SC521786

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
£
£

Fixed assets
  

Tangible assets
 4 
-
424

  
-
424

Current assets
  

Stocks
  
552,091
500,117

Debtors: amounts falling due within one year
 5 
1,103
3,072

Bank and cash balances
  
105
3

  
553,299
503,192

Creditors: amounts falling due within one year
 6 
(480,471)
(409,114)

Net current assets
  
 
 
72,828
 
 
94,078

Total assets less current liabilities
  
72,828
94,502

Creditors: amounts falling due after more than one year
 7 
(196,934)
(196,953)

  

Net liabilities
  
(124,106)
(102,451)


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
(124,206)
(102,551)

  
(124,106)
(102,451)


Page 1

 
MYLNEFIELD DEVELOPMENTS LTD
REGISTERED NUMBER: SC521786

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr D F Easson
Director

Date: 4 July 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
MYLNEFIELD DEVELOPMENTS LTD
 

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

1.


General information

Mylnefield Developments Ltd is a private company, limited by shares, incorporated in Scotland with registration number SC521786. The registered office is The Gardens, Mylnefield, Invergowrie, Dundee, DD2 5EH.
The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis, not withstanding, the company has net liabilities of £124,106. Included within other creditors due within one year, is a loan from the director of £412,281. The director has confirmed he will not seek repayment of the loan until the company has sufficient funds to do so.

 
2.3

Taxation

Tax is recognised in profit or loss 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.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 3

 
MYLNEFIELD DEVELOPMENTS LTD
 

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

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Work in progress

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any forseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Page 4

 
MYLNEFIELD DEVELOPMENTS LTD
 

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

2.Accounting policies (continued)

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 January 2023
2,261



At 31 December 2023

2,261



Depreciation


At 1 January 2023
1,837


Charge for the year on owned assets
424



At 31 December 2023

2,261



Net book value



At 31 December 2023
-



At 31 December 2022
424

Page 5

 
MYLNEFIELD DEVELOPMENTS LTD
 

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

5.


Debtors

2023
2022
£
£


Other debtors
46
2,015

Prepayments and accrued income
1,057
1,057

1,103
3,072



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
4,105
4,105

Other loans
51,129
40,451

Trade creditors
-
6,300

Other creditors
423,637
356,713

Accruals and deferred income
1,600
1,545

480,471
409,114


Other loans of £51,129 (2022 - £40,451) are secured by a fixed charge over the land held in the name of the company.


7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
28,280
30,549

Other loans
168,654
166,404

196,934
196,953


Other loans of £168,654 (2022 - £166,404) are secured by a fixed charge over the land held in the name of the company.


8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



Page 6