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Registration number: 13706261

Mayes Park Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Mayes Park Limited

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Mayes Park Limited

Company Information
__________________________________________________________________________

Director

James Clapshaw

Registered office

Viewlands
Broomehall Road
Coldharbour
Dorking
Surrey
RH5 6HJ


 

Accountants

Brooks Green
Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

 

Mayes Park Limited

(Registration number: 13706261)
Balance Sheet as at 31 December 2023
__________________________________________________________________________

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

5,254,578

5,261,504

Current assets

 

Debtors

4

1

3,306

Cash at bank and in hand

 

199,016

172,332

 

199,017

175,638

Creditors: Amounts falling due within one year

5

(140,255)

(115,535)

Net current assets

 

58,762

60,103

Total assets less current liabilities

 

5,313,340

5,321,607

Creditors: Amounts falling due after more than one year

5

(1,250,000)

(1,250,000)

Net assets

 

4,063,340

4,071,607

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

4,063,339

4,071,606

Shareholders' funds

 

4,063,340

4,071,607

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 25 September 2024
 

.........................................
James Clapshaw
Director

 

Mayes Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Mayes Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

Mayes Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

3

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

5,233,800

36,938

5,270,738

At 31 December 2023

5,233,800

36,938

5,270,738

Depreciation

At 1 January 2023

-

9,234

9,234

Charge for the year

-

6,926

6,926

At 31 December 2023

-

16,160

16,160

Carrying amount

At 31 December 2023

5,233,800

20,778

5,254,578

At 31 December 2022

5,233,800

27,704

5,261,504

Included within the net book value of land and buildings above is £5,233,800 (2022 - £5,233,800) in respect of freehold land and buildings.
 

4

Debtors

Current

2023
£

2022
£

Other debtors

1

3,306

 

1

3,306

 

Mayes Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

4,752

2,273

Accruals and deferred income

8,391

6,504

Other creditors

127,112

106,758

140,255

115,535

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

1,250,000

1,250,000

6

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior period were as follows:

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

1,250,000

1,250,000