Silverfin false false 31/08/2023 01/09/2022 31/08/2023 Mr F T Bray 09/08/2019 Mrs E J Bray 09/08/2019 19 August 2024 The principal activity of the company is that of furnished holiday lettings. 12147617 2023-08-31 12147617 bus:Director1 2023-08-31 12147617 bus:Director2 2023-08-31 12147617 2022-08-31 12147617 core:CurrentFinancialInstruments 2023-08-31 12147617 core:CurrentFinancialInstruments 2022-08-31 12147617 core:Non-currentFinancialInstruments 2023-08-31 12147617 core:Non-currentFinancialInstruments 2022-08-31 12147617 core:ShareCapital 2023-08-31 12147617 core:ShareCapital 2022-08-31 12147617 core:RetainedEarningsAccumulatedLosses 2023-08-31 12147617 core:RetainedEarningsAccumulatedLosses 2022-08-31 12147617 core:LeaseholdImprovements 2022-08-31 12147617 core:PlantMachinery 2022-08-31 12147617 core:OfficeEquipment 2022-08-31 12147617 core:LeaseholdImprovements 2023-08-31 12147617 core:PlantMachinery 2023-08-31 12147617 core:OfficeEquipment 2023-08-31 12147617 bus:OrdinaryShareClass1 2023-08-31 12147617 2022-09-01 2023-08-31 12147617 bus:FilletedAccounts 2022-09-01 2023-08-31 12147617 bus:SmallEntities 2022-09-01 2023-08-31 12147617 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 12147617 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 12147617 bus:Director1 2022-09-01 2023-08-31 12147617 bus:Director2 2022-09-01 2023-08-31 12147617 core:LeaseholdImprovements 2022-09-01 2023-08-31 12147617 core:PlantMachinery 2022-09-01 2023-08-31 12147617 core:OfficeEquipment 2022-09-01 2023-08-31 12147617 2021-09-01 2022-08-31 12147617 core:Non-currentFinancialInstruments 2022-09-01 2023-08-31 12147617 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 12147617 bus:OrdinaryShareClass1 2021-09-01 2022-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12147617 (England and Wales)

MEARE COURT LTD

Unaudited Financial Statements
For the financial year ended 31 August 2023
Pages for filing with the registrar

MEARE COURT LTD

Unaudited Financial Statements

For the financial year ended 31 August 2023

Contents

MEARE COURT LTD

COMPANY INFORMATION

For the financial year ended 31 August 2023
MEARE COURT LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 August 2023
DIRECTORS Mr F T Bray
Mrs E J Bray
REGISTERED OFFICE Meare Court Farm
Wrantage
Taunton
TA3 6DA
England
United Kingdom
COMPANY NUMBER 12147617 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset TA1 2PX
MEARE COURT LTD

BALANCE SHEET

As at 31 August 2023
MEARE COURT LTD

BALANCE SHEET (continued)

As at 31 August 2023
Note 2023 2022
£ £
Restated - note 2
Fixed assets
Tangible assets 4 111,647 126,137
111,647 126,137
Current assets
Debtors 5 61,137 35,244
Cash at bank and in hand 4,533 7,984
65,670 43,228
Creditors: amounts falling due within one year 6 ( 161,979) ( 114,804)
Net current liabilities (96,309) (71,576)
Total assets less current liabilities 15,338 54,561
Creditors: amounts falling due after more than one year 7 0 ( 27,350)
Provision for liabilities ( 5,202) ( 7,156)
Net assets 10,136 20,055
Capital and reserves
Called-up share capital 8 99 99
Profit and loss account 10,037 19,956
Total shareholders' funds 10,136 20,055

For the financial year ending 31 August 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Meare Court Ltd (registered number: 12147617) were approved and authorised for issue by the Board of Directors on 19 August 2024. They were signed on its behalf by:

Mr F T Bray
Director
MEARE COURT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
MEARE COURT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Meare Court Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Meare Court Farm, Wrantage, Taunton, TA3 6DA, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

These accounts cover the year from 1 September 2022 to 31 August 2023

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Leasehold improvements 15 % reducing balance
not depreciated
Plant and machinery 15 % reducing balance
Office equipment 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Fixed asset investments

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Prior year adjustment

Wages in the prior year were understated by £7,583. As a result reserves were overstated by £7,583, debtors were overstated by £3,791 and creditors were understated by £3,791.

As previously reported Adjustment As restated
Year ended 31 August 2022 £ £ £
Reserves as 27,539 (7,583) 19,956
Debtors 39,035 (3,791) 35,244
Creditors 111,013 3,791 114,804

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Office equipment Total
£ £ £ £
Cost
At 01 September 2022 78,113 94,320 1,041 173,474
Additions 0 2,283 0 2,283
At 31 August 2023 78,113 96,603 1,041 175,757
Accumulated depreciation
At 01 September 2022 11,617 35,553 167 47,337
Charge for the financial year 7,769 8,873 131 16,773
At 31 August 2023 19,386 44,426 298 64,110
Net book value
At 31 August 2023 58,727 52,177 743 111,647
At 31 August 2022 66,496 58,767 874 126,137

5. Debtors

2023 2022
£ £
Other debtors 61,137 35,244

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 6,601 9,800
Trade creditors 5,321 1,613
Amounts owed to directors 76,798 59,976
Accruals 4,080 3,859
Other taxation and social security 11,694 14,697
Other creditors 57,485 24,859
161,979 114,804

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 0 27,350

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
99 Ordinary shares of £ 1.00 each 99 99