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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2019 |
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FOR |
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MIDSHIRES ESTATES LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2019 |
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FOR |
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MIDSHIRES ESTATES LIMITED |
MIDSHIRES ESTATES LIMITED (REGISTERED NUMBER: 02467152) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 March 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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MIDSHIRES ESTATES LIMITED |
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COMPANY INFORMATION |
for the year ended 31 March 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants |
Statutory Auditors |
1110 Elliott Court |
Herald Avenue |
Coventry Business Park |
Coventry |
West Midlands |
CV5 6UB |
MIDSHIRES ESTATES LIMITED (REGISTERED NUMBER: 02467152) |
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BALANCE SHEET |
31 March 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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CREDITORS |
Amounts falling due after more than one
year |
6 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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MIDSHIRES ESTATES LIMITED (REGISTERED NUMBER: 02467152) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 March 2019 |
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1. | STATUTORY INFORMATION |
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Midshires Estates Limited is a
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The company's registered number and registered office address can be found on the Company |
Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements have been prepared on the going concern basis. This basis may not be |
appropriate because the Company has net liabilities at the balance sheet date. The Company's ability |
to continue trading is dependent upon the continued support of fellow group companies. The directors |
are of the opinion that group support will be ongoing and therefore consider it appropriate to prepare |
the financial statements on the going concern basis. |
These financial statements do not reflect any adjustments that may be necessary should the support of |
the Company's fellow group Companies be withdrawn. |
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Preparation of consolidated financial statements |
The financial statements contain information about Midshires Estates Limited as an individual company |
and do not contain consolidated financial information as the parent of a group. The company is |
exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated |
financial statements as it and its subsidiary undertaking are included by full consolidation in the |
consolidated financial statements of its parent, Dudley Taylor Limited, 1110 Elliott Court, Coventry |
Business Park, Herald Avenue, Coventry CV5 6UB |
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Turnover |
Turnover represents sales of land and buildings, nett of vat, recognised at the point of legal |
completion. The Company also receives rental income, recognised according to the Company's |
entitlement to income. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Taxation |
Taxation for the year 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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MIDSHIRES ESTATES LIMITED (REGISTERED NUMBER: 02467152) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2019 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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 year end and that are |
expected to apply to the reversal of the timing difference. |
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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. |
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3. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2018 |
and 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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The company's investments at the Balance Sheet date in the share capital of companies include the |
following: |
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Registered office: United Kingdom |
Nature of business:
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Class of shares: | holding |
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4. | DEBTORS |
2019 | 2018 |
£ | £ |
Amounts falling due within one year: |
VAT |
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Amounts falling due after more than one year: |
Amounts owed by group undertakings |
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Loan provision | (1,978,298 | ) | (2,000,000 | ) |
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Aggregate amounts |
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MIDSHIRES ESTATES LIMITED (REGISTERED NUMBER: 02467152) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2019 |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Tax |
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Other creditors |
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Accrued expenses |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2019 | 2018 |
£ | £ |
Amounts owed to group undertakings |
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7. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
£ | £ |
Amount due to group | 878,043 | 977,655 |
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A fixed and floating charge is held with a floating charge over all property and undertakings of the |
Company. |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | £1 | 1,000 | 1,000 |
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9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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10. | ULTIMATE CONTROLLING PARTY |
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The ultimate parent company of the group is Dudley Taylor Limited. |