Firth Mellor Holdings Ltd Filleted accounts for Companies House (small and micro)

FIRTH MELLOR HOLDINGS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 13379139

Firth Mellor Holdings Ltd

Filleted Unaudited Financial Statements

31 May 2023

Firth Mellor Holdings Ltd

Statement of Financial Position

31 May 2023

	2023	2022
Note	£	£

Fixed assets

Tangible assets	4	287,765	268,081

Current assets

Debtors	5	1,202	–
Cash at bank and in hand		1,168	6,671
		-------	-------
		2,370	6,671

Creditors: amounts falling due within one year	6	294,177	276,742
		---------	---------
Net current liabilities		291,807	270,071
		---------	---------
Total assets less current liabilities		( 4,042)	( 1,990)
		-------	-------
Net liabilities		( 4,042)	( 1,990)
		-------	-------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 4,142)	( 2,090)
	-------	-------
Shareholder deficit	( 4,042)	( 1,990)
	-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Firth Mellor Holdings Ltd

Statement of Financial Position (continued)

31 May 2023

These financial statements were approved by the board of directors and authorised for issue on 6 February 2024 , and are signed on behalf of the board by:

Mr C W Mellor

Director

Company registration number: 13379139

Firth Mellor Holdings Ltd

Notes to the Financial Statements

Year ended 31 May 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Talfryn, Berllan Lane, Gwespyr, Holywell, CH8 9LF.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors have prepared the accounts on an ongoing basis due to the continuing support of the directors.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures and fittings	-	25% reducing balance

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Tangible assets

	Freehold property	Fixtures and fittings	Total
	£	£	£
Cost
At 1 June 2022	268,081	–	268,081
Additions	19,009	900	19,909
	---------	----	---------
At 31 May 2023	287,090	900	287,990
	---------	----	---------
Depreciation
At 1 June 2022	–	–	–
Charge for the year	–	225	225
	---------	----	---------
At 31 May 2023	–	225	225
	---------	----	---------
Carrying amount
At 31 May 2023	287,090	675	287,765
	---------	----	---------
At 31 May 2022	268,081	–	268,081
	---------	----	---------

5. Debtors

	2023	2022
	£	£
Other debtors	1,202	–
	-------	----

6. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	–	828
Intercompany Loan	22,000	22,000
Other creditors	272,177	253,914
	---------	---------
	294,177	276,742
	---------	---------

7. Directors' advances, credits and guarantees

The directors operated a loan account with the company. At the period end, the company owed the directors £271,174 (2022 - 253,001). The loan is interest free and repayable upon demand.