REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
MYNARDS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
MYNARDS LIMITED |
MYNARDS LIMITED (REGISTERED NUMBER: 01299383) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MYNARDS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Black Country House |
Rounds Green Road |
Oldbury |
West Midlands |
B69 2DG |
MYNARDS LIMITED (REGISTERED NUMBER: 01299383) |
BALANCE SHEET |
31 JANUARY 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
MYNARDS LIMITED (REGISTERED NUMBER: 01299383) |
BALANCE SHEET - continued |
31 JANUARY 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
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 |
MYNARDS LIMITED (REGISTERED NUMBER: 01299383) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
1. | STATUTORY INFORMATION |
Mynards Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group. |
Turnover |
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added tax and trade discounts. |
Goodwill |
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the Profit and loss accounts over its estimated economic life. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Plant and machinery | - |
Going concern |
The company has cash resources and has no requirement for external funding. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. They continue to believe the going concern basis appropriate in preparing the annual financial statements. |
Investments |
Investments held as fixed assets are shown at cost less provision for impairment. |
Investment in subsidiary |
Investment in subsidiary undertakings are recognised at cost. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
MYNARDS LIMITED (REGISTERED NUMBER: 01299383) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 February 2023 |
and 31 January 2024 |
AMORTISATION |
At 1 February 2023 |
and 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
5. | TANGIBLE FIXED ASSETS |
Freehold | Plant and |
property | machinery | Totals |
£ | £ | £ |
COST |
At 1 February 2023 |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
During the year, fixed assets with a net book value of £2,341,837 was transferred at market value into the three subsidiaries (St Margarets Holiday Park Limited: £1,181,900, Mynards Holidays Limited: £975,000 and Mynards (Cornwall) Limited: £706,154). |
MYNARDS LIMITED (REGISTERED NUMBER: 01299383) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
6. | FIXED ASSET INVESTMENTS |
Interest |
in |
subsidiary |
£ |
COST |
At 1 February 2023 |
and 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
7. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Amounts owed by group undertakings |
VAT |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Aggregate amounts |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
MYNARDS LIMITED (REGISTERED NUMBER: 01299383) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
10. | RESERVES |
Revaluation |
reserve |
£ |
Transfer to undistributable reserves | 336,008 |
At 31 January 2024 |
During the year, the Company transferred fixed assets to the subsidiary companies, at a gain of £521,217. The net amount after deferred tax has been credited to the undistributable revaluation reserve. |
11. | TAXATION |
2024 | 2023 |
£ | £ |
Corporation tax | - | (1,370 | ) |
Group relief | 610 | - |
Deferred tax movement | (14,456 | ) | (125 | ) |
Prior year adjustment | (1 | ) | (131 | ) |
(13,847 | ) | (1,626 | ) |