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REGISTERED NUMBER: 09049693 (England and Wales)

















MARKET TAVERN STROUD LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






MARKET TAVERN STROUD LIMITED (REGISTERED NUMBER: 09049693)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MARKET TAVERN STROUD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: LS Pinkney





REGISTERED OFFICE: Broad House
1 The Broadway
Old Hatfield
Hertfordshire
AL9 5BG





REGISTERED NUMBER: 09049693 (England and Wales)





ACCOUNTANTS: Jones Hunt & Keelings
Chartered Certified Accountants and
Chartered Tax Advisers
Broad House
1 The Broadway
Old Hatfield
Hertfordshire
AL9 5BG

MARKET TAVERN STROUD LIMITED (REGISTERED NUMBER: 09049693)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 450,000

CURRENT ASSETS
Debtors 5 86,674 98,650
Cash at bank 1,460 5,217
88,134 103,867
CREDITORS
Amounts falling due within one year 6 436,074 590,522
NET CURRENT LIABILITIES (347,940 ) (486,655 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(347,940

)

(36,655

)

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings (357,940 ) (46,655 )
SHAREHOLDERS' FUNDS (347,940 ) (36,655 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 February 2025 and were signed by:





LS Pinkney - Director


MARKET TAVERN STROUD LIMITED (REGISTERED NUMBER: 09049693)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Market Tavern Stroud 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Going concern
The director has a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are again prepared on the going concern basis.

Significant judgements and estimates
In preparing these financial statements, the directors have exercised judgement in the following principal areas:
- In estimating the quantum of doubtful debts when collection of the full amount is no longer probable. The directors' best estimate is based on the period the debt has been outstanding and the difficulties experienced and anticipated in pursuing collection.
- In determining whether there are indicators of impairment of the company's tangible fixed assets. Factors taken into consideration in reaching a decision include the economic viability and expected future financial performance of the asset and, where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

MARKET TAVERN STROUD LIMITED (REGISTERED NUMBER: 09049693)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets:
Basic financial assets, which include debtors, are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts, discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Other financial assets, including investments in equity instruments, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Basic financial liabilities:
Basic financial liabilities, including trade and other payables, and bank loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade payables 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 payment is due within one year. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual
obligation is discharged, cancelled or expires.


MARKET TAVERN STROUD LIMITED (REGISTERED NUMBER: 09049693)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Investment property
In accordance with FRS 102, the company's investment property is revalued annually at its open market value. Any gains and losses on revaluation are taken to the profit and loss account and a corresponding adjustment is made to reserves.

Depreciation is not provided on the investment property, which is a departure from the Companies Act 2006. In the opinion of the director, the property is primarily an investment and so its current value is of more significance than any measure of consumption; consequently, he believes that a depreciation charge would distort the true and fair view presented by the accounts, which therefore do not include a depreciation charge.

Impairment of fixed assets
At the end of each reporting period, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered impairment. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the lower of:
a. the revised estimate of its recoverable amount; and
b. the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years.
A reversal of an impairment loss is recognised immediately in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

MARKET TAVERN STROUD LIMITED (REGISTERED NUMBER: 09049693)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST OR VALUATION
At 1 June 2023 450,000
Disposals (450,000 )
At 31 May 2024 -
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 450,000


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 86,400 98,400
Other debtors 274 250
86,674 98,650

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 13,875 16,366
Other creditors 422,199 574,156
436,074 590,522

7. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £Nil (2023: £Nil) to its director.