Middlewood Investments Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 00711545 (England and Wales)

Middlewood Investments Limited

Unaudited Financial Statements

for the Year Ended 31 March 2023

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

Mr E J Ibberson

Mr J W Ibberson

SECRETARY:

Mr E J Ibberson

REGISTERED OFFICE:

No. 1 Velocity

2 Tenter Street

Sheffield

S1 4BY

REGISTERED NUMBER:

00711545 (England and Wales)

ACCOUNTANTS:

Grenfell James Associates Limited

13 The Courtyard

Timothys Bridge Road

Stratford Upon Avon

Warwickshire

CV37 9NP

FIXED ASSETS

Tangible assets

4

41,866

52,410

Investments

5

102,652

107,495

Investment property

6

625,000

625,000

769,518

784,905

CURRENT ASSETS

Debtors

7

3,496

6,774

Cash at bank

152,616

142,887

156,112

149,661

CREDITORS

Amounts falling due within one year

8

10,187

4,552

NET CURRENT ASSETS

145,925

145,109

TOTAL ASSETS LESS CURRENT LIABILITIES

915,443

930,014

PROVISIONS FOR LIABILITIES

119,559

119,559

NET ASSETS

795,884

810,455

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

9

476,640

476,640

Retained earnings

319,144

333,715

795,884

810,455

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2023 and were signed on its behalf by:

Mr E J Ibberson - Director

1.	STATUTORY INFORMATION

Middlewood Investments 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

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on 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 Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2022

15,228

800

52,990

69,018

Additions

1,842

-

-

1,842

At 31 March 2023

17,070

800

52,990

70,860

DEPRECIATION

At 1 April 2022

10,346

80

6,182

16,608

Charge for year

1,628

160

10,598

12,386

At 31 March 2023

11,974

240

16,780

28,994

NET BOOK VALUE

At 31 March 2023

5,096

560

36,210

41,866

At 31 March 2022

4,882

720

46,808

52,410

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 April 2022

107,495

Revaluations

(4,843

)

At 31 March 2023

102,652

NET BOOK VALUE

At 31 March 2023

102,652

At 31 March 2022

107,495

Cost or valuation at 31 March 2023 is represented by:

Other

investments

£

Valuation in 2021

2,970

Valuation in 2022

(4,843

)

Cost

104,525

102,652

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2022

and 31 March 2023

625,000

NET BOOK VALUE

At 31 March 2023

625,000

At 31 March 2022

625,000

The property was valued by Mr M Saunders of Saxton Mee Commercial on an open market value basis for existing use during the year ended 31 March 2015.

The directors do not consider that the value of investment properties is significantly different from when the valuation was made.

Deferred Tax is recognised on revaluations of Investment Property.

If investment property had not been revalued it would have been included at Historical Cost value of £29,201.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

3,496

6,774

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Taxation and social security

6,034

400

Other creditors

4,153

4,152

10,187

4,552

9.

RESERVES

Fair

value

reserve

£

At 1 April 2022

and 31 March 2023

476,640