Mitrecroft Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02027217 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

MITRECROFT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N Kelly

D I Brierley

SECRETARY:

N Kelly

REGISTERED OFFICE:

Preston Park House

South Road

Brighton

BN1 6SB

REGISTERED NUMBER:

02027217 (England and Wales)

ACCOUNTANTS:

Plus Accounting

Chartered Accountants

Preston Park House

South Road

Brighton

East Sussex

BN1 6SB

FIXED ASSETS

Investments

4

1,759,415

1,550,842

CURRENT ASSETS

Debtors

5

1,184

196,184

Cash at bank

6,062,052

5,858,980

6,063,236

6,055,164

CREDITORS

Amounts falling due within one year

6

(79,175

)

(78,518

)

NET CURRENT ASSETS

5,984,061

5,976,646

TOTAL ASSETS LESS CURRENT
LIABILITIES

7,743,476

7,527,488

CAPITAL AND RESERVES

Called up share capital

164,001

Capital redemption reserve

35,999

Retained earnings

7,543,476

7,327,488

7,743,476

7,527,488

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

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

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

N Kelly - Director

1.	STATUTORY INFORMATION

Mitrecroft 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.

Investments

Investments in shares that are publicly traded or their fair value can otherwise be reliably measured are stated at fair value, with the exception of investments in subsidiaries. Movements in fair value are recognised in the profit and loss account. If fair value cannot be reliably measured, such investments are stated at cost less impairments.

Taxation

Taxation for the year comprises current and deferred tax. 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.

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.

Financial instruments

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 entity after deducting all of its financial liabilities.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 January 2024

1,550,842

Additions

212,500

Revaluations

(3,927

)

At 31 December 2024

1,759,415

NET BOOK VALUE

At 31 December 2024

1,759,415

At 31 December 2023

1,550,842

Cost or valuation at 31 December 2024 is represented by:

Shares in

group

Interest in

Other

undertakings

associate

investments

Totals

£

Valuation in 2019

-

(104,240

)

(104,240

)

Valuation in 2020

(2

)

-

(24,419

)

(24,421

)

Valuation in 2021

-

13,869

Valuation in 2022

-

(2

)

13,937

13,935

Valuation in 2023

-

24,580

Valuation in 2023

-

1,472,500

Valuation in 2024

-

212,500

Valuation in 2024

-

(3,927

)

(3,927

)

Cost

2

154,615

154,619

-

1,759,415

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Amounts owed by group undertakings

997

195,997

Other debtors

187

1,184

196,184

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Taxation and social security

72,521

72,664

Other creditors

6,654

5,854

79,175

78,518

7.	ULTIMATE CONTROLLING PARTY

Mitrecroft Limited is an associate of Quay Ventures Limited, an Irish owned company. The owners of Quay Ventures Limited are Brian Kelly, Noel Kelly and Nigel Kelly, with Brian Kelly being the ultimate controlling party.