Middshaw Limited - Accounts to registrar (filleted) - small 18.2
Middshaw Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| MIDDSHAW LIMITED |
| Unaudited Financial Statements |
| for the Year Ended 30 June 2020 |
| MIDDSHAW LIMITED (REGISTERED NUMBER: 11419519) |
| Contents of the Financial Statements |
| for the year ended 30 June 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| MIDDSHAW LIMITED |
| Company Information |
| for the year ended 30 June 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| The Riding School House |
| Bulls Lane |
| Wishaw |
| Sutton Coldfield |
| West Midlands |
| B76 9QW |
| MIDDSHAW LIMITED (REGISTERED NUMBER: 11419519) |
| Balance Sheet |
| 30 June 2020 |
| 30/6/20 | 30/6/19 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 |
| MIDDSHAW LIMITED (REGISTERED NUMBER: 11419519) |
| Notes to the Financial Statements |
| for the year ended 30 June 2020 |
| 1. | STATUTORY INFORMATION |
| Middshaw Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| Investment Properties |
| The value of the properties is assessed by an independent property valuation specialist at each reporting date using publicly available market evidence comprising primarily of values of comparable properties in the area and national market statistics. However, it is inherently difficult to assess the true market value of the properties without actively marketing the properties for sale. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Investment property |
| The company's properties are held for long-term investment and depreciation is not provided in respect of such properties. At the balance sheet date the investment properties are included at their fair value in accordance with the provisions of Financial reporting Standard 102. Any fair value increase or decrease is taken initially to the profit and loss account and then a transfer made to a separate capital reserve account on the balance sheet. |
| 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. |
| MIDDSHAW LIMITED (REGISTERED NUMBER: 11419519) |
| Notes to the Financial Statements - continued |
| for the year ended 30 June 2020 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2019 - NIL). |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 July 2019 |
| and 30 June 2020 |
| NET BOOK VALUE |
| At 30 June 2020 |
| At 30 June 2019 |
| The company acquired freehold land and buildings during the 2019 year at a fair value determined on the date of acquisition. The Directors have considered this fair value at the balance sheet date and do not believe that it is materially different to the acquisition cost. The investment property will be reviewed at each future balance sheet date and any fair value increase or decrease will be taken initially to the profit and loss account and then a transfer made to a separate capital reserve. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30/6/20 | 30/6/19 |
| £ | £ |
| Other debtors |
| Other debtors include loans made on normal commercial terms which are repayable on demand. |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30/6/20 | 30/6/19 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |