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Company registration number:
07293146
Middle Park Developments Limited
Unaudited filleted financial statements
30 June 2018
Middle Park Developments Limited
Contents
Directors and other information
Accountants report
Balance sheet
Statement of changes in equity
Notes to the financial statements
Middle Park Developments Limited
Directors and other information
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Directors
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R F A Anderson
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S E Anderson
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Company number
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07293146
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Registered office
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Sowerby
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Thirsk
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North Yorkshire
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YO7 3AH
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Accountants
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The Barker Partnership
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17 Central Buildings
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Market Place
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Thirsk
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North Yorkshire
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YO7 1HD
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Bankers
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Barclays Bank plc
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193 High Street
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Northallerton
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North Yorkshire
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DL7 8LJ
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Middle Park Developments Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Middle Park Developments Limited
Year ended 30 June 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Middle Park Developments Limited for the year ended 30 June 2018 which comprise the Balance Sheet, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/ regulations-standards-and-guidance/.
This report is made solely to the board of directors of Middle Park Developments Limited, as a body, in accordance with the terms of our engagement letter dated 15 June 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Middle Park Developments Limited and state those matters that we have agreed to state to the board of directors of Middle Park Developments Limited as a body, in this report in accordance with the ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Middle Park Developments Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Middle Park Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Middle Park Developments Limited. You consider that Middle Park Developments Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Middle Park Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
The Barker Partnership
Chartered Accountants
17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
29 March 2019
Middle Park Developments Limited
Balance sheet
30 June 2018
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2018
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2017
|
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Note
|
£
|
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£
|
|
£
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£
|
|
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|
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|
|
|
|
|
|
Fixed assets
|
|
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|
|
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Tangible assets
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4
|
7,753
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|
|
|
8,566
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
7,753
|
|
|
|
8,566
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Cash at bank and in hand
|
|
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4,174
|
|
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|
3,485
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
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4,174
|
|
|
|
3,485
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
5
|
(
5,676)
|
|
|
|
(
10,829)
|
|
|
|
|
|
_______
|
|
|
|
_______
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|
|
Net current liabilities
|
|
|
|
|
(
1,502)
|
|
|
|
(
7,344)
|
|
|
|
|
|
_______
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|
|
|
_______
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Total assets less current liabilities
|
|
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|
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6,251
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|
|
|
1,222
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
_______
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Net assets
|
|
|
|
|
6,251
|
|
|
|
1,222
|
|
|
|
|
|
_______
|
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|
_______
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|
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Capital and reserves
|
|
|
|
|
|
|
|
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Called up share capital
|
|
|
|
|
200
|
|
|
|
200
|
Profit and loss account
|
|
|
|
|
6,051
|
|
|
|
1,022
|
|
|
|
|
|
_______
|
|
|
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_______
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Shareholders funds
|
|
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|
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6,251
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|
|
|
1,222
|
|
|
|
|
|
_______
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_______
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For the year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have 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.
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 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 Profit and loss account has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
29 March 2019
, and are signed on behalf of the board by:
S E Anderson
Director
Company registration number:
07293146
Middle Park Developments Limited
Statement of changes in equity
Year ended 30 June 2018
|
|
Called up share capital
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|
Profit and loss account
|
Total
|
|
|
|
|
|
|
|
£
|
|
£
|
£
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
At 1 July 2016
|
|
200
|
|
(
25,829)
|
(
25,629)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Profit for the year
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26,851
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26,851
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|
|
|
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_______
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_______
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_______
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Total comprehensive income for the year
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-
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26,851
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26,851
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|
|
|
|
|
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|
|
|
|
|
|
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|
_______
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_______
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_______
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|
|
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At 30 June 2017 and 1 July 2017
|
|
200
|
|
1,022
|
1,222
|
|
|
|
|
|
|
|
|
|
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Profit for the year
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13,529
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13,529
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|
|
|
|
|
|
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_______
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_______
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_______
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Total comprehensive income for the year
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|
-
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13,529
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13,529
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|
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Dividends paid and payable
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(
8,500)
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(
8,500)
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_______
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_______
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_______
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Total investments by and distributions to owners
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-
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(
8,500)
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(
8,500)
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|
|
|
|
|
|
|
|
|
|
_______
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_______
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_______
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|
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|
|
|
At 30 June 2018
|
|
200
|
|
6,051
|
6,251
|
|
|
|
|
|
|
|
_______
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|
_______
|
_______
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|
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|
|
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Middle Park Developments Limited
Notes to the financial statements
Year ended 30 June 2018
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Middle Park House, Sowerby, Thirsk, North Yorkshire, YO7 3AH.
The principal activity of the company is that of letting of own property.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of rents and services receivable net of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved taxlosses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
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Long leasehold property
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-
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10 %
|
straight line
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Fittings fixtures and equipment
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-
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25 %
|
reducing balance
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Motor vehicles
|
-
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25 %
|
reducing balance
|
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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.
4.
Tangible assets
|
|
Long leasehold property
|
Fixtures, fittings and equipment
|
Motor vehicles
|
Total
|
|
|
|
|
|
£
|
£
|
£
|
£
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
|
At 1 July 2017
|
17,333
|
3,367
|
1,150
|
21,850
|
|
|
|
|
Additions
|
-
|
1,875
|
-
|
1,875
|
|
|
|
|
Disposals
|
-
|
-
|
(
1,150)
|
(
1,150)
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
At 30 June 2018
|
17,333
|
5,242
|
-
|
22,575
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1 July 2017
|
9,893
|
2,514
|
877
|
13,284
|
|
|
|
|
Charge for the year
|
1,733
|
682
|
-
|
2,415
|
|
|
|
|
Disposals
|
-
|
-
|
(
877)
|
(
877)
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
At 30 June 2018
|
11,626
|
3,196
|
-
|
14,822
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 30 June 2018
|
5,707
|
2,046
|
-
|
7,753
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
At 30 June 2017
|
7,440
|
853
|
273
|
8,566
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
5.
Creditors: amounts falling due within one year
|
|
|
2018
|
2017
|
|
|
|
£
|
£
|
|
Corporation tax
|
|
1,741
|
3,429
|
|
Social security and other taxes
|
|
2,368
|
2,003
|
|
Other creditors
|
|
1,567
|
5,397
|
|
|
|
_______
|
_______
|
|
|
|
5,676
|
10,829
|
|
|
|
_______
|
_______
|
|
|
|
|
|