Midshires Estates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02467152 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

MIDSHIRES ESTATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M J Taylor

C J Taylor

REGISTERED OFFICE:

1110 Elliott Court

Coventry Business Park

Herald Avenue

Coventry

West Midlands

CV5 6UB

REGISTERED NUMBER:

02467152 (England and Wales)

AUDITORS:

Luckmans Duckett Parker Limited

Chartered Accountants

Statutory Auditors

1110 Elliott Court

Herald Avenue

Coventry Business Park

Coventry

West Midlands

CV5 6UB

FIXED ASSETS

Investments

4

1

1

CURRENT ASSETS

Debtors

5

-

413

Cash at bank

478

1,732

478

2,145

CREDITORS

Amounts falling due within one year

6

13,850

14,188

NET CURRENT LIABILITIES

(13,372

)

(12,043

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(13,371

)

(12,042

)

CREDITORS

Amounts falling due after more than one year

7

878,043

878,043

NET LIABILITIES

(891,414

)

(890,085

)

CAPITAL AND RESERVES

Called up share capital

9

1,000

1,000

Retained earnings

(892,414

)

(891,085

)

SHAREHOLDERS' FUNDS

(891,414

)

(890,085

)

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 22 December 2020 and were signed on its behalf by:

M J Taylor - Director

1.	STATUTORY INFORMATION

Midshires Estates 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.

The financial statements have been prepared on the going concern basis. This basis may not be appropriate because the Company has net liabilities at the balance sheet date. The Company's ability to continue trading is dependent upon the continued support of fellow group companies. The directors are of the opinion that group support will be ongoing and therefore consider it appropriate to prepare the financial statements on the going concern basis.

These financial statements do not reflect any adjustments that may be necessary should the support of the Company's fellow group Companies be withdrawn.

Preparation of consolidated financial statements

The financial statements contain information about Midshires Estates Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Dudley Taylor Limited, 1110 Elliott Court, Coventry Business Park, Herald Avenue, Coventry CV5 6UB

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2019

and 31 March 2020

1

NET BOOK VALUE

At 31 March 2020

1

At 31 March 2019

1

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Crindau Gateway Limited

Registered office: United Kingdom

Nature of business: Land and property advisors and speculators

%

Class of shares:

holding

Ordinary

100.00

5.

DEBTORS

2020

2019

£

£

Amounts falling due within one year:

VAT

-

413

Amounts falling due after more than one year:

Amounts owed by group undertakings

1,978,298

1,978,298

Loan provision

(1,978,298

)

(1,978,298

)

Aggregate amounts

-

413

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other creditors

12,187

12,187

Accrued expenses

1,663

2,001

13,850

14,188

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Amounts owed to group undertakings

878,043

878,043

8.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Amount due to group

878,043

878,043

A fixed and floating charge is held with a floating charge over all property and undertakings of the Company.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

1,000

Ordinary

£1

1,000

1,000

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Steven Twigger FCA FCCA (Senior Statutory Auditor)

for and on behalf of Luckmans Duckett Parker Limited

11.	POST BALANCE SHEET EVENTS

A group reorganisation took place on July 20th 2020 with the result that the Entity's ultimate parent Company is DT Sub 2 Ltd.

12.	PARENT COMPANY

The Entity's parent company is Dudley Taylor Pharmacies Limited; registered office Taylor Group House, Wedgnock Lane, Warwick CV34 5YA as at 31st March 2020.