General Information
Mains of Rhynie Limited is a private company, limited by shares, registered in England & Northern Ireland, registration number 11421831, registration address Freshfields, Wigan Road, Leyland, Lancashire, PR25 5DA.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Plant and Machinery |
25 Reducing Balance
|
| Motor Vehicles |
25 Reducing Balance
|
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
| 2. |
Average number of employees
Average number of employees during the year was 0 (2022 : 1).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Plant and Machinery |
|
Motor Vehicles |
|
Land and Buildings |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
| At 01 July 2022 |
48,438 |
|
19,000 |
|
2,224,953 |
|
2,292,391 |
| Additions |
- |
|
- |
|
- |
|
- |
| Disposals |
- |
|
- |
|
(2,224,953) |
|
(2,224,953) |
| At 30 June 2023 |
48,438 |
|
19,000 |
|
- |
|
67,438 |
| Depreciation |
| At 01 July 2022 |
13,330 |
|
5,365 |
|
- |
|
18,695 |
| Charge for year |
8,777 |
|
3,409 |
|
- |
|
12,186 |
| On disposals |
- |
|
- |
|
- |
|
- |
| At 30 June 2023 |
22,107 |
|
8,774 |
|
- |
|
30,881 |
| Net book values |
| Closing balance as at 30 June 2023 |
26,331 |
|
10,226 |
|
- |
|
36,557 |
| Opening balance as at 01 July 2022 |
35,108 |
|
13,635 |
|
- |
|
48,743 |
|
| 4. |
Stocks
|
2023
£ |
|
2022
£ |
| Stocks |
0 |
|
15,502 |
|
0 |
|
15,502 |
|
| 5. |
Debtors: amounts falling due within one year
|
2023
£ |
|
2022
£ |
| Trade Debtors |
0 |
|
11,079 |
| Prepayments & Accrued Income |
0 |
|
17,019 |
| VAT |
3,076 |
|
16,852 |
|
3,076 |
|
44,950 |
|
| 6. |
Creditors: amount falling due within one year
|
2023
£ |
|
2022
£ |
| Trade Creditors |
0 |
|
24,380 |
| Corporation Tax |
8,015 |
|
164,492 |
| Accrued Expenses |
5,276 |
|
5,076 |
| Advance Paid |
0 |
|
(5,400) |
| Other Creditors |
(1) |
|
1 |
| Directors' Current Accounts |
880,247 |
|
0 |
|
893,537 |
|
188,549 |
|
| 7. |
Creditors: amount falling due after more than one year
|
2023
£ |
|
2022
£ |
| Directors' Loan Accounts |
2,528,212 |
|
2,528,212 |
|
2,528,212 |
|
2,528,212 |
|
2
|
