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REGISTERED NUMBER: 03041487 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

M.J. Scaife Limited

M.J. Scaife Limited (Registered number: 03041487)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


M.J. Scaife Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: Mrs P Scaife
Mr M J Scaife





REGISTERED OFFICE: Yearby Farm
Yearby
Redcar
Cleveland
TS11 8HF





REGISTERED NUMBER: 03041487 (England and Wales)





ACCOUNTANTS: Milner Smeaton
Chartered Accountants and Chartered Tax Advisers
Viking House
Falcon Court
Preston Farm
Stockton-on-Tees
TS18 3TS

M.J. Scaife Limited (Registered number: 03041487)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,516 4,687
Investment property 5 998,370 998,370
1,001,886 1,003,057

CURRENT ASSETS
Debtors 6 79,204 101,237
Cash at bank 30,253 30,008
109,457 131,245
CREDITORS
Amounts falling due within one year 7 9,184 19,847
NET CURRENT ASSETS 100,273 111,398
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,102,159

1,114,455

PROVISIONS FOR LIABILITIES 88,244 88,244
NET ASSETS 1,013,915 1,026,211

CAPITAL AND RESERVES
Allotted, called up and fully paid share capital 541,653 541,653
Revaluation reserve 376,199 376,199
Retained earnings 96,063 108,359
SHAREHOLDERS' FUNDS 1,013,915 1,026,211

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 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 2 September 2024 and were signed on its behalf by:





Mrs P Scaife - Director


M.J. Scaife Limited (Registered number: 03041487)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

M.J. Scaife Limited 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 the Pound Sterling (£).


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.

Preparation of consolidated financial statements
In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by section 398 of the companies act 2006 not to prepare group accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost and 10% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

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

M.J. Scaife Limited (Registered number: 03041487)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022
and 30 September 2023 58,663
DEPRECIATION
At 1 October 2022 53,976
Charge for year 1,171
At 30 September 2023 55,147
NET BOOK VALUE
At 30 September 2023 3,516
At 30 September 2022 4,687

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022
and 30 September 2023 998,370
NET BOOK VALUE
At 30 September 2023 998,370
At 30 September 2022 998,370

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2021 222,331
Cost 776,039
998,370

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 18,228 18,228
Other debtors 60,976 83,009
79,204 101,237

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Taxation and social security 7,135 6,717
Other creditors 2,049 13,130
9,184 19,847