2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 08593738 2023-01-01 2023-12-31 08593738 2023-12-31 08593738 2022-12-31 08593738 2022-01-01 2022-12-31 08593738 2022-12-31 08593738 2021-12-31 08593738 bus:Director1 2023-01-01 2023-12-31 08593738 core:WithinOneYear 2023-12-31 08593738 core:WithinOneYear 2022-12-31 08593738 core:ShareCapital 2023-12-31 08593738 core:ShareCapital 2022-12-31 08593738 core:RetainedEarningsAccumulatedLosses 2023-12-31 08593738 core:RetainedEarningsAccumulatedLosses 2022-12-31 08593738 bus:Director1 2022-12-31 08593738 bus:Director1 2021-12-31 08593738 bus:SmallEntities 2023-01-01 2023-12-31 08593738 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08593738 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08593738 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08593738 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 08593738
Mersey Valley Land Recovery Ltd
Filleted Unaudited Financial Statements
31 December 2023
Mersey Valley Land Recovery Ltd
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Current assets
Debtors
5
91,187
37,487
Cash at bank and in hand
76,093
88,910
---------
---------
167,280
126,397
Creditors: amounts falling due within one year
6
78,246
42,020
---------
---------
Net current assets
89,034
84,377
--------
--------
Total assets less current liabilities
89,034
84,377
--------
--------
Net assets
89,034
84,377
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
88,934
84,277
--------
--------
Shareholders funds
89,034
84,377
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Mersey Valley Land Recovery Ltd
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 16 September 2024 , and are signed on behalf of the board by:
Mr P Bannon
Director
Company registration number: 08593738
Mersey Valley Land Recovery Ltd
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sycamore House, Sutton Quays Business Park, Sutton Weaver, Runcorn, Cheshire, WA7 3EH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Debtors
2023
2022
£
£
Trade debtors
78,000
24,300
Amounts owed by group undertakings
13,187
13,187
--------
--------
91,187
37,487
--------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
35,905
26,552
Amounts owed to group undertakings
11,099
9,123
Accruals and deferred income
8,220
580
Corporation tax
1,132
Social security and other taxes
21,270
5,164
Director loan accounts
485
485
Other creditors
135
116
--------
--------
78,246
42,020
--------
--------
7. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
Balance brought forward and outstanding
2023
2022
£
£
Mr P Bannon
( 485)
( 485)
----
----
8. Ultimate holding company
The company's ultimate parent company is Philip Bannon Plant Hire Ltd, a company registered in England and Wales which owns 100% of the company's issued share capital.