REGISTERED NUMBER: |
Middlethorpe York Limited |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
REGISTERED NUMBER: |
Middlethorpe York Limited |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
Middlethorpe York Limited (Registered number: 10570891) |
Contents of the Financial Statements |
for the year ended 31 January 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Middlethorpe York Limited |
Company Information |
for the year ended 31 January 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Regent's Court |
Princess Street |
Hull |
East Yorkshire |
HU2 8BA |
Middlethorpe York Limited (Registered number: 10570891) |
Balance Sheet |
31 January 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
Middlethorpe York Limited (Registered number: 10570891) |
Balance Sheet - continued |
31 January 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Middlethorpe York Limited (Registered number: 10570891) |
Notes to the Financial Statements |
for the year ended 31 January 2024 |
1. | STATUTORY INFORMATION |
Middlethorpe York Limited is a |
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" ("FRS 102") including the provisions of Section 1A "Small Entities" and the Companies Act 2006.The financial statements have been prepared under the historical cost convention modified to include investment property. |
These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future, due to their and the banks continued support. The directors have no intention to materially withdraw their directors loan account in the foreseeable future. |
The principal accounting policies adopted are set out below. |
Turnover |
The policies adopted for the recognition of turnover are as follows: |
Consultancy services |
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business. |
Rent receivable |
Rental income received or receivable from investment properties is accounted for on an accruals basis. |
Tangible fixed assets |
Plant and machinery etc | - |
Investment property |
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
Middlethorpe York Limited (Registered number: 10570891) |
Notes to the Financial Statements - continued |
for the year ended 31 January 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 February 2023 |
and 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 February 2023 |
and 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
The directors consider that the fair value as at 31 January 2024 to be £525,000. If the property was stated using the historical cost basis rather than fair value basis, it would be £535,093. |
Middlethorpe York Limited (Registered number: 10570891) |
Notes to the Financial Statements - continued |
for the year ended 31 January 2024 |
5. | INVESTMENT PROPERTY - continued |
Fair value at 31 January 2024 is represented by: |
£ |
Valuation in 2020 | (49,551 | ) |
Valuation in 2022 | 39,458 |
Cost | 535,093 |
525,000 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 328,545 | 328,545 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
The bank loan is secured against the value of the investment property. |
Middlethorpe York Limited (Registered number: 10570891) |
Notes to the Financial Statements - continued |
for the year ended 31 January 2024 |
10. | RELATED PARTY DISCLOSURES |
Included in other creditors falling due within one year is a loan from the directors amounting to £101,575 (2023: £143,004). Interest of £1,000 has been charged by the directors to the company in the year (2023: £1,000). |