Ken Middleditch Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 00540812 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

KEN MIDDLEDITCH LTD

Page

Balance sheet

1

Notes to the financial statements

3

Fixed assets

Tangible assets

4

2,004,369

2,005,754

Investment property

5

1,200,000

1,700,000

3,204,369

3,705,754

Current assets

Stocks

5,000

45,500

Debtors

6

229,180

52

Cash at bank

244,902

44,037

479,082

89,589

Creditors

Amounts falling due within one year

7

575,988

357,076

Net current liabilities

(96,906

)

(267,487

)

Total assets less current liabilities

3,107,463

3,438,267

Creditors

Amounts falling due after more than one year

8

(534

)

(63,094

)

Provisions for liabilities

11

(673,903

)

(673,903

)

Net assets

2,433,026

2,701,270

Capital and reserves

Called up share capital

12

1,000

Fair value reserve

13

2,281,559

Special reserves

173,675

Retained earnings

(23,208

)

245,036

Shareholders' funds

2,433,026

2,701,270

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2025 and were signed on its behalf by:

Mr N Middleditch - Director

1.	Statutory information

Ken Middleditch Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 00540812. The registered office and business address is Bailie House, Poole Road, Sturminster Marshall, Dorset, BH21 4AE.

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.

Turnover

Turnover represents amounts receivable in respect of goods supplied excluding value added tax and trade discounts. Turnover is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

In line with FRS102, freehold property is stated at fair value with revaluations taking place with sufficient regularity to ensure a true and fair view. Any aggregate surplus or deficit arising from changes in fair value is recognise in the statement of comprehensive income.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognise in the statement of comprehensive income.

Stocks

Stock and Work In Progress are valued at the lower of cost and net realisable value.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments

Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 6 (2024 - 9 ) .

4.	Tangible fixed assets

Freehold

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

Cost or valuation

At 1 April 2024

1,995,000

90,690

24,050

4,934

2,114,674

Additions

-

701

1,235

64

2,000

At 31 March 2025

1,995,000

91,391

25,285

4,998

2,116,674

Depreciation

At 1 April 2024

-

86,897

17,626

4,397

108,920

Charge for year

-

1,166

1,915

304

3,385

At 31 March 2025

-

88,063

19,541

4,701

112,305

Net book value

At 31 March 2025

1,995,000

3,328

5,744

297

2,004,369

At 31 March 2024

1,995,000

3,793

6,424

537

2,005,754

Cost or valuation at 31 March 2025 is represented by:

Freehold

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

Valuation in 2016

1,117,258

-

1,117,258

Valuation in 2021

205,000

-

205,000

Valuation in 2023

795,000

-

795,000

Valuation in 2024

(205,000

)

-

(205,000

)

Cost

82,742

91,391

25,285

4,998

204,416

1,995,000

91,391

25,285

4,998

2,116,674

Freehold Property was revalued in 2025 by the Directors. The value was calculated using market based evidence and the directors still consider this valuation made to be accurate as at the balance sheet date.

5.	Investment property

Total

£

Fair value

At 1 April 2024

1,700,000

Disposals

(500,000

)

At 31 March 2025

1,200,000

Net book value

At 31 March 2025

1,200,000

At 31 March 2024

1,700,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2016

318,204

Valuation in 2021

75,000

Valuation in 2023

650,000

Cost

156,796

1,200,000

Property was revalued in 2025 by the Directors. The value was calculated using market based evidence and the directors still consider this valuation made to be accurate as at the balance sheet date.

6.

Debtors: amounts falling due within one year

2025

2024

£

Other debtors

160,000

52

Directors' current accounts

69,180

-

229,180

52

7.

Creditors: amounts falling due within one year

2025

2024

£

Bank loans and overdrafts (see note 9)

3,201

10,701

Other loans (see note 9)

551,691

-

Trade creditors

9,122

155,433

Tax

-

7,636

Pension

-

101

VAT

-

5,069

Other creditors

5,032

124,381

Directors' current accounts

-

47,432

Accruals and deferred income

6,942

6,323

575,988

357,076

8.

Creditors: amounts falling due after more than one year

2025

2024

£

Bank loans (see note 9)

534

63,094

9.

Loans

Of the bank loans repayable after more than one year, a total of £nil (2024 £27,359) is repayable after more than 5 years.

Other loans are fully repayable within 5 years.

10.	Secured debts

The following secured debts are included within creditors:

2025

2024

£

Other loans

551,691

-

Bank loans

-

66,859

551,691

66,859

Other loans, as detailed above, are secured by way of legal charges, held by MSP Capital Limited dated 28 March 2024, over land and property owned by the company.

11.	Provisions for liabilities

2025

2024

£

Deferred tax

673,903

Deferred

tax

£

Balance at 1 April 2024

673,903

Charged to fair value reserve

Balance at 31 March 2025

673,903

12.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

1,000

Ordinary

£1

1,000

13.

Reserves

Fair

value

reserve

£

At 1 April 2024

and 31 March 2025

2,281,559

Special reserves are in respect of amounts provided for by the Articles of Association. The amount provided at the balance sheet date was £173,675 (2024: £173,675).

14.	Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

Mr N Middleditch and Mrs S E Middleditch

Balance outstanding at start of year

-

Amounts advanced

69,180

-

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

69,180

-

At the balance sheet date the Directors, Mr N & Mrs S E Middleditch, owed the company £69,180 (2024: £nil). The amount outstanding at the balance sheet date was repaid in full within 9 months of the year end.

15.	Ultimate controlling party

The Company is under the control of the Director, Mr N Middleditch, by virtue of his 88% holding of the issued voting share capital of the Company.