Meadowcorp Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02609782 (England and Wales)

Unaudited Financial Statements for the Year Ended 30th November 2019

for

MEADOWCORP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr R Kevill

Mr R Grayson

SECRETARY:

Mrs K A Gibbons

REGISTERED OFFICE:

High Street Chambers

High Street

Chorley

Lancashire

PR7 1DU

REGISTERED NUMBER:

02609782 (England and Wales)

ACCOUNTANTS:

Abrams Ashton - Chorley

Chartered Certified Accountants

41 St Thomas's Road

Chorley

Lancashire

PR7 1JE

FIXED ASSETS

Investment property

4

230,000

300,000

CURRENT ASSETS

Cash at bank

34,308

38,894

CREDITORS

Amounts falling due within one year

5

162,351

163,958

NET CURRENT LIABILITIES

(128,043

)

(125,064

)

TOTAL ASSETS LESS CURRENT LIABILITIES

101,957

174,936

CAPITAL AND RESERVES

Called up share capital

100

100

Other reserves

(130,338

)

(60,338

)

Retained earnings

232,195

235,174

SHAREHOLDERS' FUNDS

101,957

174,936

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2019 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 1st April 2020 and were signed on its behalf by:

Mr R Grayson - Director

1.	STATUTORY INFORMATION

Meadowcorp 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.

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.

Revenue recognition

Revenue represents the value of amounts receivable for rents and management services for the total period of

property occupation.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Investment properties are properties held to earn rentals, they are initially measured at cost, including transaction

costs. Subsequently they are then measured at fair value on an open market basis. Deferred tax is provided on

these movements. Gains and losses arising from changes in fair value are included in the Statement of Income

and Retained Earnings in the period in which they arise.

Basic financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the

contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there

is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or

to realise the asset and settle the liability simultaneously.

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets

have now suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount

of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is

lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised

immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of

its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss

been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the

profit or loss.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank

overdrafts, when applicable, are shown within borrowings in current liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 3 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st December 2018

300,000

Revaluations

(70,000

)

At 30th November 2019

230,000

NET BOOK VALUE

At 30th November 2019

230,000

At 30th November 2018

300,000

Fair value at 30th November 2019 is represented by:

£

Valuation in 2001

9,662

Valuation in 2005

36,500

Valuation in 2008

(41,500

)

Valuation in 2011

(55,000

)

Valuation in 2017

(10,000

)

Valuation in 2019

(70,000

)

Cost

360,338

230,000

If Investment Property had not been revalued it would have been included at the following historical cost:

30.11.19

30.11.18

£

£

Cost

360,338

360,338

Investment Property was valued on an open market basis on 30th November 2019 by the directors. .

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.19

30.11.18

£

£

Tax

-

2,249

Amount due to parent company

156,500

156,500

Deferred income

1,833

1,833

Accruals

4,018

3,376

162,351

163,958

6.	CONTROLLING PARTY

The controlling party is Chorley Land Company Limited.

The registered address of Chorley Land Company Limited is High Street Chambers, Chorley, Lancashire, PR7

1DU