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Registered number: 05329745
MYRCE LICHFIELD LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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MYRCE LICHFIELD LIMITED
REGISTERED NUMBER: 05329745
BALANCE SHEET
AS AT 31 OCTOBER 2025
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Debtors: amounts falling due after more than one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Page 1
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MYRCE LICHFIELD LIMITED
REGISTERED NUMBER: 05329745
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2025
The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 9 form part of these financial statements.
Page 2
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MYRCE LICHFIELD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Myrce Lichfield Limited ("the company") is a limited liability company incorporated and domiciled in the United Kingdom and registered in England and Wales. The address of its registered office is Orgreave Farm, Orgreave, Burton-on-Trent, Staffordshire, DE13 7DG.
The financial statements are prepared in Sterling (£), which is the functional currency of the company.
The financial statements are for the year ended 31 October 2025 (2024: year ended 31 October 2024).
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
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Exemption from preparing consolidated financial statements
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The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.
At the balance sheet date the company had a net liability position. At the time of signing these financial statements, the director has considered the going concern position of the company, and has a reasonable expectation that with the continued support of the shareholders, who have confirmed that they will not demand repayment of their loans within twelve months from the date of signing these financial statements, the company has adequate resources to continue in operation for the foreseeable future.
On that basis, the director has prepared the financial statements on a going concern basis.
Turnover comprises revenue recognised by the company in respect of rental income from investment properties.
Turnover is recognised on an accruals basis to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration receivable, excluding value added tax.
Interest income is recognised in the profit and loss account using the effective interest method.
Finance costs are charged to the profit and loss account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Page 3
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MYRCE LICHFIELD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
Investment property is carried at fair value determined annually by the director, after taking external advice and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the profit and loss account.
Investments in subsidiaries are measured at cost less accumulated impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans to and from related parties and investments in ordinary shares.
All financial assets and liabilities are initially measured at transaction price and subsequently measured at amortised cost.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.
Page 4
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MYRCE LICHFIELD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
Tax is recognised in the profit and loss account except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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The average monthly number of employees, including the director, during the year was 1 (2024: 1).
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Page 5
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MYRCE LICHFIELD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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Investments in subsidiary companies
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The following was a subsidiary undertaking of the company:
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Myrce Featherstone Limited
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Orgreave Farm
Orgreave
Burton-on-Trent
Staffordshire
DE13 7DG
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Freehold investment property
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The director has reviewed the fair value of the freehold investment property on an open market value for existing use basis, and considers that the current carrying value of the investment property is reasonable in all respects.
Page 6
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MYRCE LICHFIELD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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Due after more than one year
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Prepayments and accrued income
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Amounts owed by group undertakings
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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During the course of the preparation of these financial statements, further information came to light to warrant the following prior year adjustments:
∙An amount of £215,000 in respect of loan notes was reclassified from other creditors falling due within one year to other loans falling due within one year to properly reflect the nature of these loan notes.
∙An amount of £45,000 in respect of creditor repayments was reclassified from other creditors falling due within one year to other loans falling due after more than one year to properly reflect the nature of these repayments.
These adjustments affect presentation only and do not have any impact on net liabilities or profits for the year ended 31 October 2024.
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Page 7
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MYRCE LICHFIELD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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Creditors: Amounts falling due after more than one year
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During the course of the preparation of these financial statements, further information came to light to warrant the following prior year adjustments:
∙An amount of £45,000 in respect of creditor repayments was reclassified from other creditors falling due within one year to other loans falling due after more than one year to properly reflect the nature of these repayments.
These adjustments affect presentation only and do not have any impact on net liabilities or profits for the year ended 31 October 2024
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due after more than 5 years
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Interest is charged on the loans at a rate of 4%.
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Allotted, called up and fully paid
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1,000 Ordinary shares of £1 each
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Page 8
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MYRCE LICHFIELD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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Related party transactions
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The company has taken advantage of the exemption provided by FRS 102 Section 33.1A not to disclose transactions with wholly owned group companies.
Included within other creditors is an amount of £1,000,000 (2024 as restated: £1,000,000) which is owed by the company to its shareholders. This amount is unsecured, interest-free and repayable on demand, though the shareholders have confirmed that they will not demand repayment of this amount until the company is in a position to repay it.
Included within note 9 is an amount of £460,000 (2024 as restated: £460,000) which is owed by the company to its shareholders in the form of loan notes. The loan notes are unsecured, bear interest at 4% per annum, and are repayable by annual instalments until September 2033.
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Page 9
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