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REGISTERED NUMBER: 06489048 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31st March 2024

for

M & S Blease Limited

M & S Blease Limited (Registered number: 06489048)

Contents of the Financial Statements
for the Year Ended 31st March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M & S Blease Limited

Company Information
for the Year Ended 31st March 2024







DIRECTORS: Mr MS Blease
Mr SJ Blease





REGISTERED OFFICE: The Barn
Hyning Home Farm
Dock Acres
Carnforth
Lancashire
LA6 1HP





REGISTERED NUMBER: 06489048 (England and Wales)





ACCOUNTANTS: Towers + Gornall Ltd
Chartered Certified Accountants
River View
96 High Street
Garstang
Preston
Lancashire
PR3 1WZ

M & S Blease Limited (Registered number: 06489048)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,389 2,779
Tangible assets 5 356,099 335,379
357,488 338,158

CURRENT ASSETS
Stocks 83,413 108,472
Debtors 6 37,330 51,049
120,743 159,521
CREDITORS
Amounts falling due within one year 7 180,128 209,664
NET CURRENT LIABILITIES (59,385 ) (50,143 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

298,103

288,015

CREDITORS
Amounts falling due after more than one
year

8

(150,721

)

(147,599

)

PROVISIONS FOR LIABILITIES (31,910 ) (29,078 )
NET ASSETS 115,472 111,338

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 115,372 111,238
SHAREHOLDERS' FUNDS 115,472 111,338

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

M & S Blease Limited (Registered number: 06489048)

Balance Sheet - continued
31st March 2024


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 10th May 2024 and were signed on its behalf by:





Mr MS Blease - Director


M & S Blease Limited (Registered number: 06489048)

Notes to the Financial Statements
for the Year Ended 31st March 2024


1. STATUTORY INFORMATION

M & S Blease 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 under the historical cost convention.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

SFP entitlements are being amortised evenly over their estimated useful life of three years.

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

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

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

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.

M & S Blease Limited (Registered number: 06489048)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or 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 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1st April 2023
and 31st March 2024 10,000 11,028 21,028
AMORTISATION
At 1st April 2023 10,000 8,249 18,249
Charge for year - 1,390 1,390
At 31st March 2024 10,000 9,639 19,639
NET BOOK VALUE
At 31st March 2024 - 1,389 1,389
At 31st March 2023 - 2,779 2,779

5. TANGIBLE FIXED ASSETS
Short Cautley Plant and
leasehold Farm machinery
£    £    £   
COST
At 1st April 2023 32,287 27,819 272,286
Additions - - 74,700
Disposals - - -
At 31st March 2024 32,287 27,819 346,986
DEPRECIATION
At 1st April 2023 28,914 1,855 164,589
Charge for year 674 1,855 24,808
Eliminated on disposal - - -
At 31st March 2024 29,588 3,710 189,397
NET BOOK VALUE
At 31st March 2024 2,699 24,109 157,589
At 31st March 2023 3,373 25,964 107,697

M & S Blease Limited (Registered number: 06489048)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024


5. TANGIBLE FIXED ASSETS - continued

Motor Dairy
vehicles herd Totals
£    £    £   
COST
At 1st April 2023 68,335 152,995 553,722
Additions - - 74,700
Disposals (10,000 ) (14,160 ) (24,160 )
At 31st March 2024 58,335 138,835 604,262
DEPRECIATION
At 1st April 2023 22,985 - 218,343
Charge for year 8,216 - 35,553
Eliminated on disposal (5,733 ) - (5,733 )
At 31st March 2024 25,468 - 248,163
NET BOOK VALUE
At 31st March 2024 32,867 138,835 356,099
At 31st March 2023 45,350 152,995 335,379

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 35,863 48,969
Other debtors 1,467 2,080
37,330 51,049

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 29,964 24,542
Hire purchase contracts 17,196 7,680
Trade creditors 22,002 23,412
Taxation and social security 28 17,182
Other creditors 110,938 136,848
180,128 209,664

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 112,829 124,859
Hire purchase contracts 28,142 5,136
Other creditors 9,750 17,604
150,721 147,599

M & S Blease Limited (Registered number: 06489048)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 10,134 5,428

A director guarantee for £25,000 is held as security by Clydesdale Bank.

10. RELATED PARTY DISCLOSURES

At 31 March 2024 the company owed £102,557 to the directors (2023: £133,519). No interest has been charged to the company in respect of this loan which is repayable on demand and classified in creditors due within one year.

The controlling party is Mr MS Blease.