Registered number
04032603
17-131 Middlefields (Freehold) Limited
Report and Accounts
31 December 2024
17-131 Middlefields (Freehold) Limited
Report and Accounts
Contents
Page
Company Information 1
Directors' Report 2
Accountants' Report 3
Profit and Loss Account 4
Balance Sheet 5
Notes to the Accounts 6-8
17-131 Middlefields (Freehold) Limited
Company Information
Directors
A J White
M D White
E J Stevens
Secretary
Concept Property Management Secretarial Services Ltd
Accountants
N J Ruse and Associates
Eagle House, Cranleigh Close
Sanderstead
South Croydon
CR2 9LH
Registered Office
Suite 7, Phoenix House
Redhill Aerodrome
Kings Mill Lane
Redhill
RH1 5JY
Registered Number
04032603
17-131 Middlefields (Freehold) Limited
Registered number: 04032603
Directors' Report
The directors present their report and accounts for the year ended 31 December 2024.
Principal Activities
The company's principal activities continued to be to hold the freehold interest in the 88 properties known as Middlefields, Forestdale, Croydon, to collect the ground rent from the lessees and to facilitate the extension of the leases as required.
Directors
The following persons served as directors during the year:
A J White
M D White
E J Stevens
Small Company Provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 26 February 2025 and signed on its behalf.
____________________
M D White
Director
17-131 Middlefields (Freehold) Limited
Report to the directors on the preparation of the unaudited statutory accounts of 17-131 Middlefields (Freehold) Limited for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of 17-131 Middlefields (Freehold) Limited for the year ended 31 December 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
N J Ruse and Associates
Chartered Certified Accountants
Eagle House, Cranleigh Close
Sanderstead
South Croydon
CR2 9LH
27 February 2025
17-131 Middlefields (Freehold) Limited
Profit and Loss Account
for the year ended 31 December 2024
2024 2023
£ £
Administrative Expenses (1,481) (1,880)
Other Operating Income 495 525
Operating Loss (986) (1,355)
Interest Receivable 2,454 1,248
Profit/(loss) Before Taxation 1,468 (107)
Tax on Profit/(loss) (279) (31)
Profit/(loss) for the Financial Year 1,189 (138)
17-131 Middlefields (Freehold) Limited
Registered number: 04032603
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed Assets
Tangible Assets 3 86,832 86,832
Current Assets
Debtors 4 69 1,421
Bank and Cash 177,099 174,308
177,168 175,729
Creditors: Due Within One Year 5 (1,216) (967)
Net Current Assets 175,952 174,762
Net Assets 262,784 261,594
Capital and Reserves
Called Up Share Capital 82 82
Share Premium 157,483 157,483
Profit and Loss Account 105,219 104,029
Shareholders' Funds 262,784 261,594
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
_______________
M D White
Director
Approved by the board on 26 February 2025
17-131 Middlefields (Freehold) Limited
Notes to the Accounts
for the year ended 31 December 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.
Tangible Fixed Assets
The tangible fixed assets is the value to the company of the unextended leases on the flats at 17-131 Middlefields. There were no lease extensions in the year and at 31st December 2024 there were 18 flats where the lease is yet to be extended.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible Fixed Assets
Land and Buildings
£
Cost
At 1 January 2024 86,832
At 31 December 2024 86,832
Depreciation
At 31 December 2024 -
Net Book Values
At 31 December 2024 86,832
At 31 December 2023 86,832
4 Debtors 2024 2023
£ £
Trade Debtors 69 1,421
5 Creditors: Due Within One Year 2024 2023
£ £
Corporation Tax 310 31
Other Creditors 906 936
1,216 967
6 Other Information
17-131 Middlefields (Freehold) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Suite 7, Phoenix House
Redhill Aerodrome
Kings Mill Lane
Redhill
RH1 5JY
17-131 Middlefields (Freehold) Limited 04032603 false 2024-01-01 2024-12-31 2024-12-31 VT Final Accounts April 2025 04032603 2023-01-01 2023-12-31 04032603 core:WithinOneYear 2023-12-31 04032603 core:ShareCapital 2023-12-31 04032603 core:SharePremium 2023-12-31 04032603 core:RetainedEarningsAccumulatedLosses 2023-12-31 04032603 2024-01-01 2024-12-31 04032603 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04032603 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 04032603 bus:Director1 2024-01-01 2024-12-31 04032603 bus:Director2 2024-01-01 2024-12-31 04032603 bus:Director3 2024-01-01 2024-12-31 04032603 bus:CompanySecretary1 2024-01-01 2024-12-31 04032603 1 2024-01-01 2024-12-31 04032603 2 2024-01-01 2024-12-31 04032603 countries:England 2024-01-01 2024-12-31 04032603 bus:FRS102 2024-01-01 2024-12-31 04032603 bus:FullAccounts 2024-01-01 2024-12-31 04032603 2024-12-31 04032603 core:WithinOneYear 2024-12-31 04032603 core:ShareCapital 2024-12-31 04032603 core:SharePremium 2024-12-31 04032603 core:RetainedEarningsAccumulatedLosses 2024-12-31 04032603 core:LandBuildings 2024-12-31 04032603 2023-12-31 04032603 core:LandBuildings 2023-12-31 iso4217:GBP xbrli:pure