Company No:
Contents
| DIRECTORS | E K Ford |
| B M Ford | |
| A C Ford |
| REGISTERED OFFICE | Silversands 15 Golf Course Road |
| Old Hunstanton | |
| Hunstanton | |
| Norfolk | |
| PE36 6JH | |
| United Kingdom |
| COMPANY NUMBER | 02499713 (England and Wales) |
| ACCOUNTANT | S&W Partners (East) LLP |
| Stonecross | |
| Trumpington High Street | |
| Cambridge | |
| CB2 9SU |
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Restated - note 2 | ||||
| Fixed assets | ||||
| Tangible assets | 4 |
|
|
|
| Investments | 5 |
|
|
|
| 278,369 | 325,619 | |||
| Current assets | ||||
| Debtors | 6 |
|
|
|
| Cash at bank and in hand |
|
|
||
| 26,011 | 90,426 | |||
| Creditors: amounts falling due within one year | 7 | (
|
(
|
|
| Net current (liabilities)/assets | (8,357) | 86,536 | ||
| Total assets less current liabilities | 270,012 | 412,155 | ||
| Net assets |
|
|
||
| Capital and reserves | ||||
| Called-up share capital |
|
|
||
| Capital redemption reserve |
|
|
||
| Profit and loss account |
|
|
||
| Total shareholders' funds |
|
|
Directors' responsibilities:
The financial statements of Mintonview Limited (registered number:
|
E K Ford
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Mintonview Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Silversands 15 Golf Course Road, Old Hunstanton, Hunstanton, Norfolk, PE36 6JH, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The functional currency of Mintonview Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
These financial statements are separate financial statements.
The financial statements have been prepared on a going concern basis.
The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
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 financial statements. 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 enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.
| Fixtures and fittings |
|
| Office equipment |
|
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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 and cash and bank balances, 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.
Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.
The Company has restated the comparatives for the year ended 31 October 2023. Previously, fair value gains on listed investments within the investment portfolio had been credited to the statement of comprehensive income and then been transferred to the revaluation reserve whilst fair value losses on listed investments within the same portfolio had been charged to the statement of comprehensive income as an impairment charge. The comparatives have been restated to show the net fair value position which has resulted in the revaluation reserve reducing by £72,869 (to nil) and a corresponding increase to the profit and loss reserve. The investment note in the accounts has also been restated to show the investments at fair (market) value rather than at revaluation less impairment.
The figures within the statement of comprehensive income have been restated as a result although there is no overall change to the loss for the year.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
|
|
| Fixtures and fittings | Office equipment | Total | |||
| £ | £ | £ | |||
| Cost | |||||
| At 01 November 2023 |
|
|
|
||
| Disposals |
|
(
|
(
|
||
| At 31 October 2024 |
|
|
|
||
| Accumulated depreciation | |||||
| At 01 November 2023 |
|
|
|
||
| Charge for the financial year |
|
|
|
||
| Disposals |
|
(
|
(
|
||
| At 31 October 2024 |
|
|
|
||
| Net book value | |||||
| At 31 October 2024 | 0 | 82 | 82 | ||
| At 31 October 2023 | 0 | 278 | 278 |
| Listed investments | Investments in associates | Other investments | Total | ||||
| £ | £ | £ | £ | ||||
| Cost or valuation before impairment | |||||||
| At 01 November 2023 |
|
|
|
|
|||
| Additions |
|
|
|
|
|||
| Disposals | (
|
|
|
(
|
|||
| Movement in fair value | (
|
|
|
(
|
|||
| At 31 October 2024 |
|
|
|
|
|||
| Carrying value at 31 October 2024 |
|
|
|
|
|||
| Carrying value at 31 October 2023 |
|
|
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| Prepayments |
|
|
|
| Deferred tax asset |
|
|
|
| Corporation tax |
|
|
|
|
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| Amounts owed to directors |
|
|
|
| Accruals |
|
|
|
|
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| At the beginning of financial year |
|
|
|
| (Charged)/credited to the Profit and Loss Account | (
|
|
|
| At the end of financial year |
|
|