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Company Registration No. 05936183 (England and Wales)
Mist Developments Limited Unaudited accounts for the year ended 31 August 2024
Mist Developments Limited Unaudited accounts Contents
Page
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Mist Developments Limited Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
200,000 
200,000 
Current assets
Cash at bank and in hand
11,938 
5,375 
Creditors: amounts falling due within one year
(62,591)
(56,038)
Net current liabilities
(50,653)
(50,663)
Total assets less current liabilities
149,347 
149,337 
Provisions for liabilities
Deferred tax
(10,640)
(10,640)
Net assets
138,707 
138,697 
Capital and reserves
Called up share capital
4 
4 
Profit and loss account
138,703 
138,693 
Shareholders' funds
138,707 
138,697 
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 October 2024 and were signed on its behalf by
Stuart Crowther Director Company Registration No. 05936183
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Mist Developments Limited Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
Mist Developments Limited is a private company, limited by shares, registered in England and Wales, registration number 05936183. The registered office is The Barn Larks Rest Farm, Bolster Moor, Huddersfield, West Yorkshire, HD7 4JT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
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 accounts. 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.
Turnover
Turnover is measured at the fair value of rents received during the period.
4
Investment property
2024 
£ 
Fair value at 1 September 2023
200,000 
At 31 August 2024
200,000 
Investment property comprises properties held by the company for rental income purposes. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
359 
- 
Other creditors
62,232 
56,038 
62,591 
56,038 
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Mist Developments Limited Notes to the Accounts for the year ended 31 August 2024
6
Average number of employees
During the year the average number of employees was 4 (2023: 4).
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