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REGISTERED NUMBER: 02018744 (England and Wales)


















Minsterport Limited

Financial Statements for the Year Ended 31 December 2023






Minsterport Limited (Registered number: 02018744)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Minsterport Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: R M Stansfield
A W Forman
C Fincher
P T Fitzgerald
P Hogan
A J Embleton
M Kiefer





REGISTERED OFFICE: Melton Ross Quarries
Barnetby
North Lincolnshire
DN38 6AE





REGISTERED NUMBER: 02018744 (England and Wales)





AUDITORS: Smailes Goldie
Chartered Accountants
Statutory Auditor
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Minsterport Limited (Registered number: 02018744)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 5,886 461
Investments 5 - -
5,886 461

CURRENT ASSETS
Stocks 6 109,942 56,496
Debtors 7 360,323 502,663
Cash at bank 218,667 11,893
688,932 571,052
CREDITORS
Amounts falling due within one year 8 (203,689 ) (207,452 )
NET CURRENT ASSETS 485,243 363,600
TOTAL ASSETS LESS CURRENT
LIABILITIES

491,129

364,061

PROVISIONS FOR LIABILITIES (1,325 ) (116 )
NET ASSETS 489,804 363,945

CAPITAL AND RESERVES
Called up share capital 9 155 155
Share premium 34,950 34,950
Retained earnings 454,699 328,840
SHAREHOLDERS' FUNDS 489,804 363,945

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 May 2024 and were signed on its behalf by:




A W Forman - Director



A J Embleton - Director


Minsterport Limited (Registered number: 02018744)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Minsterport 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.

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 on under the historical cost convention.

The financial statements have been prepared on a going concern basis. The directors have taken note of the guidance issued by the Financial Reporting Council on Going Concern Assessments in determining that this is the appropriate basis of preparation of the financial statements and have considered a number of factors. This has specifically included reviewing banking facilities in place and detailed forecasting using sensitivity analysis to ensure that the worst case scenario situation does not put the going concern concept at risk.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is the revenue arising from sale of goods and services. It is stated at the fair value of the consideration receivable net of intra group transactions, value added tax, rebates and discounts.

Revenue from the sale of goods is recognised when the significant risks and benefits of ownership of the product have been transferred to the buyer, which may be upon shipment, completion of the product or the product being ready for delivery, based on specific contract terms.

Revenue from the sale of subscriptions services is recognised on a straight line basis over the period of the subscription.

Tangible fixed assets
Tangible fixed assets accounted for under the historical cost method are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and Machinery - 20% to 33% Straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.


Minsterport Limited (Registered number: 02018744)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Investments
Investments are measured at cost less impairment.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit and loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

Minsterport Limited (Registered number: 02018744)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2023 33,442
Additions 5,994
At 31 December 2023 39,436
DEPRECIATION
At 1 January 2023 32,981
Charge for year 569
At 31 December 2023 33,550
NET BOOK VALUE
At 31 December 2023 5,886
At 31 December 2022 461

5. FIXED ASSET INVESTMENTS



Unlisted
investment
s
£
COST
At 1st April 2022
and 31st December 2022 78,491

IMPAIRMENT
At 1st April 2022
and 31st December 2022 78,491

NET BOOK VALUE
At 31st December 2022 -
At 31st March 2022 -

6. STOCKS
2023 2022
£    £   
Stocks 109,942 56,496

Minsterport Limited (Registered number: 02018744)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 203,522 193,747
Amounts owed by group undertakings 154,696 285,701
VAT - 5,321
Prepayments and accrued income 2,105 17,894
360,323 502,663

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 83,639 147,726
Amounts owed to group undertakings 25,223 9,711
Social security and other taxes 2,716 2,408
VAT 10,109 -
Other creditors 3,628 2,203
Accruals and deferred income 78,374 45,404
203,689 207,452

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
155 Ordinary £1 155 155

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nicola Shipley FCA (Senior Statutory Auditor)
for and on behalf of Smailes Goldie

11. CONTINGENT LIABILITIES

The company is party to a composite multilateral guarantee and debenture together with its UK parent undertakings in respect of the group borrowings which are secured, in part, by fixed and floating charges over the assets of the company. The potential liability to the company under the arrangement at 31 December 2023 was £nil.

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Minsterport Limited (Registered number: 02018744)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

13. ULTIMATE PARENT COMPANY AND ULTIMATE CONTROLLING PARTY

Singleton Birch Limited is the immediate parent company and its registered office is the same as is listed on page 1. Singleton Birch Limited is regarded as the parent undertaking of the smallest group for which group accounts are prepared and made publicly available. The ultimate parent company in the UK is Mississippi Lime UK Limited which owns 100% of the entire issued share capital of the Singleton Birch Limited. Copies of the group accounts can be obtained from Companies House.

HBM Holdings Company (incorporated in USA) is regarded by the directors as being the Company's ultimate parent holding company. Its registered office address is Suite 1050, 101 South Hanley Road, St. Louis, MO 63105, USA. The largest group in which the results of the company are consolidated is that headed by HBM Holdings Company however, these accounts are not publicly available.

There is no ultimate controlling party.