Mitrecroft Limited - Accounts to registrar (filleted) - small 23.1.2

Mitrecroft Limited - Accounts to registrar (filleted) - small 23.1.2

MITRECROFT LIMITED - Company Information

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REGISTERED NUMBER: 02027217 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

Mitrecroft Limited
Warren House Accountants Limited
4 The Courtyard
Holmsted Farm
Staplefield Road
Haywards Heath
RH17 5JF








Mitrecroft Limited (Registered number: 02027217)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Mitrecroft Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: B S Kelly
N Kelly
N Kelly
D I Brierley





SECRETARY: N Kelly





REGISTERED OFFICE: 4 The Courtyard
Holmsted Farm
Staplefield Road
Cuckfield
West Sussex
RH17 5JF





REGISTERED NUMBER: 02027217 (England and Wales)





ACCOUNTANTS: Warren House Accountants Limited
4 The Courtyard
Holmsted Farm
Staplefield Road
Haywards Heath
RH17 5JF
Page 1
Mitrecroft Limited (Registered number: 02027217)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Investments 4 53,762 539,925

CURRENT ASSETS
Debtors 5 206,056 1,385,541
Cash at bank 8,926,000 3,358,342
9,132,056 4,743,883
CREDITORS
Amounts falling due within one year 6 26,385 14,230
NET CURRENT ASSETS 9,105,671 4,729,653
TOTAL ASSETS LESS CURRENT
LIABILITIES
9,159,433
5,269,578

CAPITAL AND RESERVES
Called up share capital 200,000 200,000
Retained earnings 8,959,433 5,069,578
SHAREHOLDERS' FUNDS 9,159,433 5,269,578

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 9 August 2023 and were signed on its behalf by:





N Kelly - Director


The notes form part of these financial statements

Page 2
Mitrecroft Limited (Registered number: 02027217)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Mitrecroft 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 as modified by the revaluation of certain assets.

Investments in associates
Investments in associate undertakings are recognised at cost.

Investments
Investments in shares that are publicly traded or their fair value can otherwise be reliably measured are stated at fair value, with the exception of investments in subsidiaries. Movements in fair value are recognised in the profit and loss account. If fair value cannot be reliably measured, such investments are stated at cost less impairments.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Page 3
Mitrecroft Limited (Registered number: 02027217)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4. FIXED ASSET INVESTMENTS
Interest
in Other
associate investments Totals
£    £    £   
COST OR VALUATION
At 1 January 2022 500,100 39,825 539,925
Additions 2,181,227 - 2,181,227
Disposals (2,681,325 ) - (2,681,325 )
Revaluations - 13,937 13,937
Impairments (2 ) - (2 )
At 31 December 2022 - 53,762 53,762
NET BOOK VALUE
At 31 December 2022 - 53,762 53,762
At 31 December 2021 500,100 39,825 539,925

Cost or valuation at 31 December 2022 is represented by:

Shares in Interest
group in Other
undertakings associate investments Totals
£    £    £    £   
Valuation in 2019 - - (104,240 ) (104,240 )
Valuation in 2020 (2 ) - (24,419 ) (24,421 )
Valuation in 2021 - - 13,869 13,869
Valuation in 2022 - (2 ) 13,937 13,935
Cost 2 2 154,615 154,619
- - 53,762 53,762

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Amounts owed by group undertakings 195,997 -
Amounts owed by associates 9,296 1,384,778
Other debtors 763 763
206,056 1,385,541

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Amounts owed to associates 8,990 8,000
Taxation and social security 11,165 -
Other creditors 6,230 6,230
26,385 14,230

Page 4
Mitrecroft Limited (Registered number: 02027217)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end, a balance of £4,230 (2021: £4,230) was owed to the director of the company. The amount is unsecured, interest free and is repayable on demand.

At the year end, a balance of £576 (2021: £576) was owed to the company by a director. The amount is unsecured, interest free and is repayable on demand.

8. ULTIMATE CONTROLLING PARTY

Mitrecroft Limited is an associate of Quay Ventures Limited, an Irish owned company. The owners of Quay Ventures Limited are Brian Kelly, Noel Kelly and Nigel Kelly, with Brian Kelly being the ultimate controlling party.

Page 5