24 Middle St Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11468316 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 December 2019

for

24 Middle St Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

J Anderson-Mann

D M Frizzell

Registered office:

85 Church Road

Hove

East Sussex

BN3 2BB

Registered number:

11468316 (England and Wales)

Accountants:

Wilson Sandford Limited

Chartered accountants

85 Church Road

Hove

East Sussex

BN3 2BB

Fixed assets

Investment property

4

994,474

960,000

Current assets

Debtors

5

25,070

6,562

Investments

6

4

-

Cash at bank

248

-

25,322

6,562

Creditors

Amounts falling due within one year

7

852,506

776,178

Net current liabilities

(827,184

)

(769,616

)

Total assets less current liabilities

167,290

190,384

Creditors

Amounts falling due after more than one year

8

250,213

250,213

Net liabilities

(82,923

)

(59,829

)

Capital and reserves

Called up share capital

10

1

1

Retained earnings

(82,924

)

(59,830

)

Shareholders' funds

(82,923

)

(59,829

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 December 2020 and were signed on its behalf by:

J Anderson-Mann - Director

1.	Statutory information

24 Middle St Ltd 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 (£).

The company's reporting period was twelve months. The comparative period was shortened to six months to align with the reporting period of other companies within the group. The two sets of results are therefore not immediately comparable.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of VAT and discounts. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Rents are received net of commissions and fees.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued at its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

3.	Employees and directors

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

4.	Investment property

Total

£

Fair value

At 31 December 2018

960,000

Additions

34,474

At 30 December 2019

994,474

Net book value

At 30 December 2019

994,474

At 30 December 2018

960,000

The investment property fair value of £994,474 (2018 - £960,000) was determined by the directors based on the market value of similar properties in the area.

5.

Debtors: amounts falling due within one year

2019

2018

£

£

Trade debtors

691

-

Amounts owed by group undertakings

12,568

2,599

Other debtors

11,811

3,963

25,070

6,562

6.	Current asset investments

2019

2018

£

£

Shares in group undertakings

4

-

7.

Creditors: amounts falling due within one year

2019

2018

£

£

Trade creditors

3,391

5,002

Amounts owed to group undertakings

716,524

688,086

Amounts owed to associates

73,042

62,553

Other creditors

59,549

20,537

852,506

776,178

8.

Creditors: amounts falling due after more than one year

2019

2018

£

£

Amounts owed to group undertakings

250,213

250,213

9.	Secured debts

The following secured debts are included within creditors:

2019

2018

£

£

Loans from group undertakings

750,640

750,640

Loans are secured against the assets to which they relate.

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

1

Ordinary

£1

1

1

11.	Related party disclosures

Within creditors is an amount of £966,737 (2018 - £938,300) owed to group undertakings.

Within creditors is an amount of £73,042 (2018 - £62,553) owed to associates.