Con Mech Paddocks Limited - Filleted accounts

Con Mech Paddocks Limited - Filleted accounts

CON MECH PADDOCKS LIMITED - Company Information

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Registered number
12305029
Con Mech Paddocks Limited
Filleted Accounts
31 December 2023
Applied Accountancy Limited
Con Mech Paddocks Limited
Registered number: 12305029
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,181,226 982,166
Current assets
Debtors 4 1,073 1,138
Cash at bank and in hand 24,970 46,273
26,043 47,411
Creditors: amounts falling due within one year 5 (9,879) (19,946)
Net current assets 16,164 27,465
Total assets less current liabilities 1,197,390 1,009,631
Provisions for liabilities (81,250) (23,750)
Net assets 1,116,140 985,881
Capital and reserves
Called up share capital 1,584 1,584
Profit and loss account 1,114,556 984,297
Shareholder's funds 1,116,140 985,881
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R J Dilley
Director
Approved by the board on 1 May 2024
Con Mech Paddocks Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

The company and its parent comprise a small group and as such are exempt from preparing group accounts.
Turnover
Turnover comprises rental income receivable. All income is shown net of value added taxes and is recognised on an accruals basis.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 10% straight line
Investments Properties
Investment property is included at fair value. Gains are recognised in the profit and loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 975,000 9,630 984,630
Surplus on revaluation 200,000 - 200,000
At 31 December 2023 1,175,000 9,630 1,184,630
Depreciation
At 1 January 2023 - 2,464 2,464
Charge for the year - 940 940
At 31 December 2023 - 3,404 3,404
Net book value
At 31 December 2023 1,175,000 6,226 1,181,226
At 31 December 2022 975,000 7,166 982,166
The investment properties were revalued to £1,175,000 on 4th April 2024 by estate agents Jackson Stops, on an open market exisiting use basis.
If the investment property had not been included at valuation it would have been included under the historical cost convention at £850,000 (2022: £850,000).
4 Debtors 2023 2022
£ £
Other debtors 1,073 1,138
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 5,560 4,167
Other creditors 4,319 15,779
9,879 19,946
6 Controlling party
The ultimate parent company is CM Paddocks Holdings Limited. The registered office of CM Paddocks Holdings Limited is Yew Tree House, High Street, Kemsing, Sevenoaks, TN15 6NB.
7 Other information
Con Mech Paddocks Limited is a private company limited by shares and incorporated in England. Its registered office is:
Yew Tree House
High Street
Kemsing
Kent
TN15 6NB
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