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COMPANY REGISTRATION NUMBER: 09732946
COUNTRY HOMES & ESTATES (MITFORD) LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
28 December 2023
COUNTRY HOMES & ESTATES (MITFORD) LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 28th DECEMBER 2023
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 6
COUNTRY HOMES & ESTATES (MITFORD) LIMITED
STATEMENT OF FINANCIAL POSITION
28 December 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
934
95,500
CURRENT ASSETS
Work in progress
6
930,000
Debtors
7
927
7,991
Cash at bank and in hand
2,838
1,008
-------
----------
3,765
938,999
CREDITORS: amounts falling due within one year
8
128,529
1,055,535
----------
-------------
NET CURRENT LIABILITIES
124,764
116,536
----------
----------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 123,830)
( 21,036)
----------
---------
NET LIABILITIES
( 123,830)
( 21,036)
----------
---------
CAPITAL AND RESERVES
Called up share capital
10
100
100
Profit and loss account
( 123,930)
( 21,136)
----------
---------
SHAREHOLDERS DEFICIT
( 123,830)
( 21,036)
----------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28th December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
COUNTRY HOMES & ESTATES (MITFORD) LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
28 December 2023
These financial statements were approved by the board of directors and authorised for issue on 31 July 2025 , and are signed on behalf of the board by:
C. J. Carlisle
Director
Company registration number: 09732946
COUNTRY HOMES & ESTATES (MITFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 28th DECEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Post Office, 63 Saville Street, North Shields, Tyne & Wear, NE30 1AY, United Kingdom.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The financial statements have been prepared on the going concern basis. The director considers that this basis is appropriate following due consideration of the present financial position, the expected prospects of the company during the twelve months from the date of approval of these financial statements and the continued support of the company's director, bankers and other lending agents during this time.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of deferred tax recognised in the reporting period. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor Vehicles
-
20% reducing balance
Equipment
-
25% straight line
Work in progress
Work in progress is measured at the lower of cost and estimated selling price together with profit earned. Cost includes all costs of purchase and other costs incurred in bringing the work in progress to its present state of completion. Profit is calculated based on an assessment of the overall development profit apportioned over the stage of completion at the year end date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. TANGIBLE ASSETS
Motor vehicles
Equipment
Total
£
£
£
Cost
At 29th December 2022
112,937
2,014
114,951
Disposals
( 112,937)
( 112,937)
----------
-------
----------
At 28th December 2023
2,014
2,014
----------
-------
----------
Depreciation
At 29th December 2022
18,823
628
19,451
Charge for the year
23,529
452
23,981
Disposals
( 42,352)
( 42,352)
----------
-------
----------
At 28th December 2023
1,080
1,080
----------
-------
----------
Carrying amount
At 28th December 2023
934
934
----------
-------
----------
At 28th December 2022
94,114
1,386
95,500
----------
-------
----------
6. WORK IN PROGRESS
2023
2022
£
£
Work in progress
930,000
----
----------
7. DEBTORS
2023
2022
£
£
Corporation tax repayable
531
7,991
Other debtors
396
----
-------
927
7,991
----
-------
8. CREDITORS: amounts falling due within one year
2023
2022
£
£
Trade creditors
23,838
31,624
Accruals and deferred income
50,144
8,000
Social security and other taxes
1,013
Director loan accounts
418,984
Country Homes & Estates (Northern) Limited
54,547
595,914
----------
-------------
128,529
1,055,535
----------
-------------
9. DEFERRED TAX
The deferred tax account consists of the tax effect of timing differences in respect of:
2023
2022
£
£
Accelerated capital allowances
18,145
Unused tax losses
( 18,145)
----
---------
----
---------
10. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
11. RELATED PARTY TRANSACTIONS
The director is also a director of Country Homes & Estates (Northern) Limited. At the year end, a loan of £54,547 (2022: £595,914) was owed to Country Homes & Estates (Northern) Limited and this is shown in creditors: amounts falling due within one year. Interest of £Nil (2022: £30,032), was paid in respect of this loan in the financial year. A director's loan account processes the transactions between C. J. Carlisle and Country Homes & Estates (Mitford) Limited. At the year end, an amount of £Nil (2022: £418,984) was owed to C. J. Carlisle and this is shown in creditors: amounts falling due within one year. During the financial year, the company sold a property for £980,000 to C. J. Carlisle , at a fair market value. No further transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A small entities.
12. CONTROLLING PARTY
Country Homes & Estates (Mitford) Limited is under the control of its holding company, Country Homes & Estates (Northern) Limited . The ultimate controlling party is C. J. Carlisle, who holds 100% of the issued share capital of Country Homes & Estates (Northern) Limited.