Meadow Lane Investment Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06596370 (England and Wales)

Unaudited Financial Statements

for the Period 1 June 2018 to 31 December 2018

for

Meadow Lane Investment Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr D M Boulton

REGISTERED OFFICE:

Ripley House

Ripley Drive

Normanton

Wakefield

West Yorkshire

WF6 1QT

REGISTERED NUMBER:

06596370 (England and Wales)

ACCOUNTANTS:

SMH Haywood & Co Limited

24-26 Mansfield Road

Rotherham

South Yorkshire

S60 2DT

FIXED ASSETS

Investment property

4

400,000

470,000

CURRENT ASSETS

Debtors

5

7,605

6,750

Cash at bank

1,179

3,060

8,784

9,810

CREDITORS

Amounts falling due within one year

6

(186,098

)

(209,823

)

NET CURRENT LIABILITIES

(177,314

)

(200,013

)

TOTAL ASSETS LESS CURRENT LIABILITIES

222,686

269,987

CREDITORS

Amounts falling due after more than one year

7

(224,150

)

(269,950

)

NET (LIABILITIES)/ASSETS

(1,464

)

37

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(1,465

)

36

(1,464

)

37

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director on 28 February 2020 and were signed by:

Mr D M Boulton - Director

1.	STATUTORY INFORMATION

Meadow Lane Investment Company 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.

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 period 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2018 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2018

470,000

Disposals

(70,000

)

At 31 December 2018

400,000

NET BOOK VALUE

At 31 December 2018

400,000

At 31 May 2018

470,000

Investment property comprises 5 apartments at Meadow Lane, Wakefield. The fair value of the investment

property has been arrived at on an open market basis at 31 December 2018 by the director.

Fair value at 31 December 2018 is represented by:

£

Valuation in 2018

(199,975

)

Cost

599,975

400,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2018

£

£

Amounts owed by associates

7,604

6,749

Other debtors

1

1

7,605

6,750

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2018

£

£

Trade creditors

60

1,669

Amounts owed to group undertakings

15,453

15,454

Amounts owed to associates

147,394

173,881

Taxation and social security

55

385

Other creditors

23,136

18,434

186,098

209,823

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2018

£

£

Bank loans

224,150

269,950

8.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2018

£

£

Bank loans

224,150

269,950

The long-term loans are secured by legal mortgages over the company's properties.