Company No:
Contents
DIRECTORS | A D Savile |
The Hon J H H J Savile | |
The Earl Of Mexborough |
REGISTERED OFFICE | 4th Floor |
115 George Street | |
Edinburgh | |
EH2 4JN | |
United Kingdom |
COMPANY NUMBER | SC053367 (Scotland) |
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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Investments | 4 |
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1,820,713 | 1,811,063 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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262,000 | 252,167 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 217,332 | 179,960 | ||
Total assets less current liabilities | 2,038,045 | 1,991,023 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholder's funds |
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Directors' responsibilities:
The financial statements of Methley Estates (Holdings) Limited (registered number:
The Hon J H H J Savile
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Methley Estates (Holdings) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 4th Floor, 115 George Street, Edinburgh, EH2 4JN, United Kingdom.
The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The financial statements have been prepared on a going concern basis as the directors believe that the company has adequate resources to continue in operational existence for the foreseeable future.
Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
Income from the sale of Christmas trees is recognised in the period in which the goods are delivered.
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives.
Land and buildings |
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Plant and machinery etc. |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Investments in subsidiary undertakings are recorded at cost less provision for any impairments. Other investments are measured at fair value when it can be reliably estimated, otherwise they are measured at cost less impairment.
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments.
Other operating income comprises subsidies, rental income and other sundry income, net of VAT. Rental income is recognised on an accruals basis. Income from subsidies is recognised once all conditions for eligibility have been met.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year. |
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Land and buildings | Plant and machinery etc. | Total | |||
£ | £ | £ | |||
Cost | |||||
At 06 April 2023 |
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Additions |
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At 05 April 2024 |
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Accumulated depreciation | |||||
At 06 April 2023 |
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Charge for the financial year |
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At 05 April 2024 |
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Net book value | |||||
At 05 April 2024 |
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At 05 April 2023 |
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Investments in subsidiaries
2024 | |
£ | |
Cost | |
At 06 April 2023 |
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At 05 April 2024 |
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Carrying value at 05 April 2024 |
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Carrying value at 05 April 2023 |
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Other investments | Total | ||
£ | £ | ||
Cost or valuation before impairment | |||
At 06 April 2023 |
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At 05 April 2024 |
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Carrying value at 05 April 2024 |
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Carrying value at 05 April 2023 |
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2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by related parties |
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Deferred tax asset |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Trade creditors |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
At the beginning of financial year |
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Credited to the Profit and Loss Account |
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At the end of financial year |
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Commitments
2024 | 2023 | ||
£ | £ | ||
Total future minimum lease payments under non-cancellable operating lease |
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