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

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

COMBESGATE LIMITED - Company Information

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REGISTERED NUMBER: 07461327 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

COMBESGATE LIMITED
COMBESGATE LIMITED (REGISTERED NUMBER: 07461327)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COMBESGATE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: T G Roberts
P J Roberts





REGISTERED OFFICE: Building B, MCI Business Centre,
4-5 Newtown Industrial Estate
Cross Keys
Newport
NP11 7PZ





REGISTERED NUMBER: 07461327 (England and Wales)





ACCOUNTANTS: DAVID WRIGHT ACCOUNTANTS LIMITED
Unit 10
Bridgend Business Park
Bennett Street
Bridgend
South Wales
CF31 3SH
Page 1
COMBESGATE LIMITED (REGISTERED NUMBER: 07461327)

BALANCE SHEET
31 DECEMBER 2022

31/12/22 31/12/21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 9,969 9,969
Investment property 6 8,500,000 8,500,000
8,509,969 8,509,969

CURRENT ASSETS
Debtors 7 787,439 497,504
Cash at bank 998,956 706,975
1,786,395 1,204,479
CREDITORS
Amounts falling due within one year 8 166,166 131,272
NET CURRENT ASSETS 1,620,229 1,073,207
TOTAL ASSETS LESS CURRENT
LIABILITIES
10,130,198
9,583,176

CAPITAL AND RESERVES
Called up share capital 4,277 4,277
Revaluation reserve 9 5,499,867 5,499,867
Other reserves 2,508,498 2,508,498
Retained earnings 2,117,556 1,570,534
10,130,198 9,583,176

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 notes form part of these financial statements

Page 2 continued...
COMBESGATE LIMITED (REGISTERED NUMBER: 07461327)

BALANCE SHEET - continued
31 DECEMBER 2022


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 August 2023 and were signed on its behalf by:





P J Roberts - Director


The notes form part of these financial statements

Page 3
COMBESGATE LIMITED (REGISTERED NUMBER: 07461327)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022


1. STATUTORY INFORMATION

Combesgate 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

The directors are of the opinion that the value of the investment property is not materially misstated at the balance sheet date.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Page 4 continued...
COMBESGATE LIMITED (REGISTERED NUMBER: 07461327)

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. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2022
and 31 December 2022 7,734
DEPRECIATION
At 1 January 2022
and 31 December 2022 7,734
NET BOOK VALUE
At 31 December 2022 -

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 January 2022
and 31 December 2022 9,969
NET BOOK VALUE
At 31 December 2022 9,969
At 31 December 2021 9,969

The company owns 100% of the issued share capital of MCI Logistics Limited, a company incorporated in England and Wales.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2022
and 31 December 2022 8,500,000
NET BOOK VALUE
At 31 December 2022 8,500,000
At 31 December 2021 8,500,000

Page 5 continued...
COMBESGATE LIMITED (REGISTERED NUMBER: 07461327)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


6. INVESTMENT PROPERTY - continued

The directors are of the opinion that the value of the investment property is not materially misstated at the balance sheet date and the value included above is the investment property's fair value.

Fair value at 31 December 2022 is represented by:
£   
Valuation in 2021 8,500,000

If Investment properties had not been revalued it would have been included at the following historical cost:

31/12/22 31/12/21
£    £   
Cost 3,000,133 3,000,133

Investment properties were valued on an open market basis on 31 December 2022 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/22 31/12/21
£    £   
Trade debtors 94,568 69,462
Other debtors 692,871 428,042
787,439 497,504

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/22 31/12/21
£    £   
Taxation and social security 83,659 67,817
Other creditors 82,507 63,455
166,166 131,272

9. RESERVES
Revaluation
reserve
£   
At 1 January 2022
and 31 December 2022 5,499,867

Page 6