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20 September 2024
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No description of principal activity
2022-09-23
Sage Accounts Production Advanced 2021 - FRS102_2021
2,565,681
60,133
2,340,452
4,846,000
4,846,000
xbrli:pure
xbrli:shares
iso4217:GBP
14372903
2022-09-23
2023-12-31
14372903
2023-12-31
14372903
bus:Director1
2022-09-23
2023-12-31
14372903
core:LandBuildings
core:OwnedOrFreeholdAssets
2022-09-23
2023-12-31
14372903
core:WithinOneYear
2023-12-31
14372903
core:ShareCapital
2023-12-31
14372903
core:RetainedEarningsAccumulatedLosses
2023-12-31
14372903
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-12-31
14372903
bus:SmallEntities
2022-09-23
2023-12-31
14372903
bus:Audited
2022-09-23
2023-12-31
14372903
bus:FullAccounts
2022-09-23
2023-12-31
14372903
bus:SmallCompaniesRegimeForAccounts
2022-09-23
2023-12-31
14372903
bus:PrivateLimitedCompanyLtd
2022-09-23
2023-12-31
COMPANY REGISTRATION NUMBER:
14372903
Moulton Seas End Farms Limited |
|
Filleted Financial Statements |
|
Moulton Seas End Farms Limited |
|
Period from 23 September 2022 to 31 December 2023
Statement of financial position |
1 |
|
|
Notes to the financial statements |
2 |
|
|
Moulton Seas End Farms Limited |
|
Statement of Financial Position |
|
31 December 2023
Fixed assets
Tangible assets |
5 |
4,846,000 |
|
|
|
Current assets
Debtors |
6 |
49,212 |
Cash at bank and in hand |
132,871 |
|
--------- |
|
182,083 |
|
|
|
Creditors: amounts falling due within one year |
7 |
68,138 |
|
--------- |
Net current assets |
113,945 |
|
------------ |
Total assets less current liabilities |
4,959,945 |
|
|
|
Provisions |
992,113 |
|
------------ |
Net assets |
3,967,832 |
|
------------ |
|
|
Capital and reserves
Called up share capital |
1 |
Profit and loss account |
3,967,831 |
|
------------ |
Shareholders funds |
3,967,832 |
|
------------ |
|
|
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 comprehensive income has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the
board of directors
and authorised for issue on
19 September 2024
, and are signed on behalf of the board by:
Company registration number:
14372903
Moulton Seas End Farms Limited |
|
Notes to the Financial Statements |
|
Period from 23 September 2022 to 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 Oakwell House, 2 Beevor Court, Pontefract Road, Barnsley, S71 1HG.
2.
Accounting convention
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
3.
Particulars of employees and directors
There were 3 directors in the period ended 31 December 2023.
The directors of the Company did not receive any remuneration in respect of services to the Company. The remuneration payable to the directors by other group undertakings in respect of their services as directors of those companies is disclosed as appropriate in the financial statements of those undertakings.
4.
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.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.
Going concern
At 31 December 2023 the company had net assets of £3,967,832 and net current assets of £113,945. The financial statements have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future.
Revenue recognition
The principal accounting policies are set out below The revenue shown in the statement of comprehensive income represents amounts invoiced during the year, and is stated net of Value Added Tax. Revenue arises from the letting of property in accordance with the principal activities of the company, entirely within the United Kingdom, and is recognised on an accruals basis.
Taxation
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 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. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
5.
Tangible assets
|
Freehold property |
|
£ |
Cost or valuation |
|
At 23 September 2022 |
– |
Additions |
2,565,681 |
Disposals |
(
60,133) |
Revaluations |
2,340,452 |
|
------------ |
At 31 December 2023 |
4,846,000 |
|
------------ |
Depreciation |
|
At 23 September 2022 and 31 December 2023 |
– |
|
------------ |
Carrying amount |
|
At 31 December 2023 |
4,846,000 |
|
------------ |
|
|
A valuation was carried out by an independent external valuer, Savills (UK) Limited, a member of the Royal Institution of Chartered Surveyors (RICS), as at 31 December 2023, valuing the freehold property at £4,846,000.
6.
Debtors
|
31 Dec 23 |
|
£ |
Trade debtors |
28,669 |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
12,568 |
Other debtors |
7,975 |
|
-------- |
|
49,212 |
|
-------- |
|
|
7.
Creditors:
amounts falling due within one year
|
31 Dec 23 |
|
£ |
Trade creditors |
5,833 |
Corporation tax |
33,173 |
Other creditors |
29,132 |
|
-------- |
|
68,138 |
|
-------- |
|
|
8.
Legal charge of assets
The assets of the Company, as at 31 December 2023, were subject to a legal charge in favour of South Yorkshire Pension Authority in relation to a facility made available to
Moulton Seas End Farms Limited
parent company, F H Bowser Limited. As part of the share transfer that took place on 26 January 2024, as set out in note 12, the charge is now in favour of RLAM NC Trustee 1 Limited and RLAM NC Trustee 2 Limited.
9.
Summary audit opinion
The auditor's report for the period dated
20 September 2024
was
unqualified
.
The senior statutory auditor was
Ross Lomas
, for and on behalf of
Saffery LLP
.
10.
Controlling party
The Company is a 100% wholly owned subsidiary of F. H. Bowser Limited. As at 31 December 2023, F. H. Bowser Limited was controlled by South Yorkshire Pensions Authority, Oakwell House, 2 Beevor Court, Pontefract Road, Barnsley, S71 1HG, within the meaning of Part V of the Local Government and Housing Act 1989. On the 26 January 2024 the shares of F. H. Bowser Limited were transferred to RLAM NC Trustee 1 Limited and RLAM NC Trustee 2 Limited.