Accounts filed on 30-11-2019

Accounts filed on 30-11-2019

MIDLAND PROPERTIES (BRISTOL) LIMITED - Company Information

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Registered number: 04582809
Midland Properties (Bristol) Limited
ACCOUNTS
FOR THE YEAR ENDED 30/11/2019
Prepared By:
R F Love and Company
Chartered Accountant
79 Basepoint Business Centre
Yeoford Way
Exeter
Devon
EX2 8LB
Midland Properties (Bristol) Limited
ACCOUNTS
FOR THE YEAR ENDED 30/11/2019
DIRECTORS
K A Feltham
P O'Brien
SECRETARY
P O'Brien
REGISTERED OFFICE
23 Chudleigh Road
Alphington
Exeter
Devon
EX2 8TS
COMPANY DETAILS
registered in England & Wales, registered number 04582809
ACCOUNTANTS
R F Love and Company
Chartered Accountant
79 Basepoint Business Centre
Yeoford Way
Exeter
Devon
EX2 8LB
Midland Properties (Bristol) Limited
ACCOUNTS
FOR THEYEARENDED30/11/2019
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
Midland Properties (Bristol) Limited
BALANCE SHEET AT 30/11/2019
20192018
Notes££
FIXED ASSETS
Tangible assets38,22010,371
CURRENT ASSETS
Stock2,445,0002,445,000
Debtors5630,981918,388
Cash at bank and in hand36537,259
3,076,3463,400,647
CREDITORS: Amounts falling due within one year6106,568116,723
NET CURRENT ASSETS2,969,7783,283,924
TOTAL ASSETS LESS CURRENT LIABILITIES2,977,9983,294,295
CREDITORS: Amounts falling due after more than one year71,666,8551,989,033
NET ASSETS1,311,1431,305,262
CAPITAL AND RESERVES
Called up share capital833
Revaluation reserve1d,91,252,6161,252,616
Profit and loss account58,52452,643
SHAREHOLDERS' FUNDS1,311,1431,305,262
For the year ending 30/11/2019 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 08/08/2020 and signed on their behalf by
.............................
P O'Brien
Director
Midland Properties (Bristol) Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30/11/2019
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machineryreducing balance 25%
Motor Carsreducing balance 25%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
1d. Revaluation Reserve
Surpluses or deficits arising on the revaluation of individual fixed assets other than investment properties are credited or debited to a non-distributible reserve known as the revaluation reserve (see also note 9).
Revaluation deficits in excess of the amount of prior revaluation surpluses on the same asset are charged to the profit and loss account.
2. EMPLOYEES
20192018
No.No.
Average number of employees33
Midland Properties (Bristol) Limited
3. TANGIBLE FIXED ASSETS
Plant and
MachineryMotor CarsTotal
£££
Cost
At 01/12/201832,00435,78567,789
Additions590-590
At 30/11/201932,59435,78568,379
Depreciation
At 01/12/201831,28726,13157,418
For the year3272,4142,741
At 30/11/201931,61428,54560,159
Net Book Amounts
At 30/11/20199807,2408,220
At 30/11/20187179,65410,371
4. STOCK 20192018
££
Stock comprises:
Stock, at revaluation2,445,0002,445,000
2,445,0002,445,000
5. DEBTORS 20192018
££
Amounts falling due within one year
Amounts falling due over more than one year
Long term debtor630,981918,388
630,981918,388
630,981918,388
Midland Properties (Bristol) Limited
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20192018
££
Directors current account90,668106,761
Credit card4,9001,962
Accruals11,0008,000
106,568116,723
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20192018
££
Bank loans (secured) >1yr1,078,292906,445
Long term creditor588,5631,082,588
1,666,8551,989,033
8. SHARE CAPITAL 20192018
££
Allotted, issued and fully paid:
3 Ordinary shares of £1 each33
33
9. REVALUATION RESERVE 20192018
££
Revaluation reserve1,252,6161,252,616
1,252,6161,252,616