Registered number
10682488
The Middle House (Mayfield) Limited
Filleted Accounts
31 March 2024
The Middle House (Mayfield) Limited
Registered number: 10682488
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 140,000 175,000
Tangible assets 4 198,723 222,324
338,723 397,324
Current assets
Stocks 10,000 10,000
Debtors 5 189,669 153,285
Cash at bank and in hand 47,884 13,326
247,553 176,611
Creditors: amounts falling due within one year 6 (504,826) (450,791)
Net current liabilities (257,273) (274,180)
Total assets less current liabilities 81,450 123,144
Creditors: amounts falling due after more than one year 7 (11,786) (21,706)
Net assets 69,664 101,438
Capital and reserves
Called up share capital 250 250
Profit and loss account 69,414 101,188
Shareholder's funds 69,664 101,438
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B W Blundell
Director
Approved by the board on 30 January 2025
The Middle House (Mayfield) Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold improvements Over 20 years
Plant and machinery 20% reducing balance
Fixtures, fittings and office equipment 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 69 43
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 350,000
At 31 March 2024 350,000
Amortisation
At 1 April 2023 175,000
Provided during the year 35,000
At 31 March 2024 210,000
Net book value
At 31 March 2024 140,000
At 31 March 2023 175,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Property improvements Plant and machinery etc Fixtures, fittings and office equipment Total
£ £ £ £
Cost
At 1 April 2023 164,737 118,883 65,378 348,998
Additions - 179 937 1,116
At 31 March 2024 164,737 119,062 66,315 350,114
Depreciation
At 1 April 2023 23,695 68,649 34,330 126,674
Charge for the year 8,237 10,083 6,397 24,717
At 31 March 2024 31,932 78,732 40,727 151,391
Net book value
At 31 March 2024 132,805 40,330 25,588 198,723
At 31 March 2023 141,042 50,234 31,048 222,324
5 Debtors 2024 2023
£ £
Trade debtors 900 476
Other debtors 188,769 152,809
189,669 153,285
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 83,608 151,457
Trade creditors 116,317 69,474
Taxation and social security costs 293,965 213,083
Other creditors 10,936 16,777
504,826 450,791
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 11,786 21,706
8 Other information
The Middle House (Mayfield) Limited is a private company limited by shares and incorporated in England. Its registered office is:
104 High Street
West Wickham
Kent
BR4 0NF
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