Con Mech Paddocks Limited - Filleted accounts

Con Mech Paddocks Limited - Filleted accounts

CON MECH PADDOCKS LIMITED - Company Information

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Registered number
12305029
Con Mech Paddocks Limited
Filleted Accounts
31 December 2021
Applied Accountancy Limited
Con Mech Paddocks Limited
Registered number: 12305029
Balance Sheet
as at 31 December 2021
Restated
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 982,629 983,479
Current assets
Debtors 4 1,124 1,162
Cash at bank and in hand 16,240 22
17,364 1,184
Creditors: amounts falling due within one year 5 (7,661) (7,983)
Net current assets/(liabilities) 9,703 (6,799)
Total assets less current liabilities 992,332 976,680
Provisions for liabilities (23,750) (23,750)
Net assets 968,582 952,930
Capital and reserves
Called up share capital 1,584 1,584
Profit and loss account 966,998 951,346
Shareholder's funds 968,582 952,930
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R J Dilley
Director
Approved by the board on 4 July 2022
Con Mech Paddocks Limited
Notes to the Accounts
for the year ended 31 December 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

The company and its parent comprise a small group and as such are exempt from preparing group accounts.
Turnover
Turnover comprises rental income receivable. All income is shown net of value added taxes and is recognised on an accruals basis.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 10% straight line
Investments Properties
Investment property is included at fair value. Gains are recognised in the profit and loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Prior Year Adjustment
An adjustment to the prior year has been made to bring in deferred tax of £23,750 in respect of the fair value adjustment to Investment Properties.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Investment Property Plant and machinery etc Total
£ £ £
Cost
At 1 January 2021 975,000 8,871 983,871
Additions - 419 419
Disposals - (251) (251)
At 31 December 2021 975,000 9,039 984,039
Depreciation
At 1 January 2021 - 392 392
Charge for the year - 1,018 1,018
At 31 December 2021 - 1,410 1,410
Net book value
At 31 December 2021 975,000 7,629 982,629
At 31 December 2020 975,000 8,479 983,479
The investment properties were revalued to £975,000 on 31st December 2021 by the directors, who are suitably qualified, on an open market exisiting use basis. This value does not take account of the effect form the uncertainities caused by Covid-19.
If the investment property had not been included at valuation it would have been included under the historical cost convention at £850,000 (2020: £850,000).
4 Debtors 2021 2020
£ £
Other debtors 1,124 1,162
5 Creditors: amounts falling due within one year 2021 2020
£ £
Taxation and social security costs 3,722 900
Other creditors 3,939 7,083
7,661 7,983
6 Controlling party
The ultimate parent company is CM Paddocks Holdings Limited. The registered office of CM Paddocks Holdings Limited is Yew Tree House, High Street, Kemsing, Sevenoaks, TN15 6NB.
7 Other information
Con Mech Paddocks Limited is a private company limited by shares and incorporated in England. Its registered office is:
Yew Tree House
High Street
Kemsing
Kent
TN15 6NB
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