Mundus Properties Limited - Accounts to registrar (filleted) - small 18.2
Mundus Properties Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 March 2020 |
| for |
| MUNDUS PROPERTIES LIMITED |
| MUNDUS PROPERTIES LIMITED (REGISTERED NUMBER: 05198595) |
| Contents of the Financial Statements |
| for the year ended 31 March 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| MUNDUS PROPERTIES LIMITED |
| Company Information |
| for the year ended 31 March 2020 |
| Director: |
| Registered office: |
| Registered number: |
| Accountants: |
| Chartered Accountants |
| 305 Regents Park Road |
| Finchley |
| London |
| N3 1DP |
| MUNDUS PROPERTIES LIMITED (REGISTERED NUMBER: 05198595) |
| Balance Sheet |
| 31 March 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Current assets |
| Debtors | 5 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 6 |
| Net current liabilities | ( |
) | ( |
) |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| Provisions for liabilities | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital | 9 |
| Fair value reserve |
| Retained earnings |
| Shareholders' funds |
| 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. |
| MUNDUS PROPERTIES LIMITED (REGISTERED NUMBER: 05198595) |
| Balance Sheet - continued |
| 31 March 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| MUNDUS PROPERTIES LIMITED (REGISTERED NUMBER: 05198595) |
| Notes to the Financial Statements |
| for the year ended 31 March 2020 |
| 1. | Statutory information |
| Mundus Properties Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| The company has net liabilities of £19,857 (2019: £30,207) and relies on the support of its director to ensure it |
| meets its liabilities as they fall due. On this basis, the director considers it appropriate to prepare the financial |
| statements on the going concern basis. The financial statements do not include any adjustments that would |
| result from a withdrawal of this support by the director. |
| Key source of estimation, uncertainty and judgement |
| The preparation of financial statements in conformity with generally accepted accounting practice requires |
| management to make estimates and judgement that affect the reported amounts of assets and liabilities as well |
| as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of |
| revenues and expenses during the reporting period. |
| There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried |
| out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate |
| as possible, there remains a risk that the policy does not match the useful life of the assets. |
| There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried |
| out by management regularly. Whilst every attempt is made to ensure that the deferred tax is accurate as |
| possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed |
| off. |
| There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is |
| carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as |
| accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately |
| prove to be uncollectable. |
| Turnover |
| Turnover is measured at the fair value of rental income received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| MUNDUS PROPERTIES LIMITED (REGISTERED NUMBER: 05198595) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2020 |
| 2. | Accounting policies - continued |
| Financial instruments |
| Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party |
| to the contractual provisions of the instrument. |
| Trade and other debtors and creditors are classified as basic financial instruments and measured at initial |
| recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the |
| effective interest rate method. A provision is established when there is objective evidence that the company will |
| not be able to collect all amounts due. |
| Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank |
| and bank overdrafts. |
| Financial liabilities and equity instruments issued by the company are classified in accordance with the |
| substance of the contractual arrangements entered into and the definitions of a financial liability and an equity |
| instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company |
| after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds |
| received, net of direct issue costs. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| 4. | Tangible fixed assets |
| Freehold | Improvements | Computer |
| property | to property | equipment | Totals |
| £ | £ | £ | £ |
| Cost or valuation |
| At 1 April 2019 |
| Additions |
| At 31 March 2020 |
| Depreciation |
| Charge for year |
| At 31 March 2020 |
| Net book value |
| At 31 March 2020 |
| At 31 March 2019 |
| Cost or valuation at 31 March 2020 is represented by: |
| Freehold | Improvements | Computer |
| property | to property | equipment | Totals |
| £ | £ | £ | £ |
| Valuation in 2018 | 786,814 | - | - | 786,814 |
| Cost | 144,583 | 674,203 | 2,528 | 821,314 |
| 931,397 | 674,203 | 2,528 | 1,608,128 |
| MUNDUS PROPERTIES LIMITED (REGISTERED NUMBER: 05198595) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2020 |
| 4. | Tangible fixed assets - continued |
| Freehold property was valued on an open market basis on 31 March 2020 by the director. |
| 5. | Debtors: amounts falling due within one year |
| 2020 | 2019 |
| £ | £ |
| Other debtors |
| 6. | Creditors: amounts falling due within one year |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts |
| Taxation and social security |
| Other creditors |
| 7. | Creditors: amounts falling due after more than one year |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 379,516 | 396,597 |
| 8. | Secured debts |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| The bank loan is secured on the property 1-4 and 6-12 Edith House, The Barge Yard, Highbridge Street, |
| Waltham Abbey, Essex, EN9 1BS. This creditor also includes a debenture deed which has a fixed and a |
| floating charge over the undertaking and all property and assets present and future including goodwill, stock, |
| goods, moveable plant and machinery, implements, utensils, furniture, fixtures, equipment, book debts, |
| uncalled capital, buildings and intellectual property. |
| 9. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |