MJ Developments (Ashton) Ltd - Accounts to registrar (filleted) - small 18.2
MJ Developments (Ashton) Ltd - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2020 |
for |
MJ Developments (Ashton) Ltd |
MJ Developments (Ashton) Ltd (Registered number: 10073841) |
Contents of the Financial Statements |
for the Year Ended 31 March 2020 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
MJ Developments (Ashton) Ltd |
Company Information |
for the Year Ended 31 March 2020 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
30 Yoden Way |
Peterlee |
SR8 1AL |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
MJ Developments (Ashton) Ltd |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MJ Developments (Ashton) Ltd for the year ended 31 March 2020 which comprise the Income Statement, Balance Sheet and the 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of MJ Developments (Ashton) Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MJ Developments (Ashton) Ltd and state those matters that we have agreed to state to the Board of Directors of MJ Developments (Ashton) Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MJ Developments (Ashton) Ltd and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that MJ Developments (Ashton) Ltd 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 MJ Developments (Ashton) Ltd. You consider that MJ Developments (Ashton) Ltd 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 MJ Developments (Ashton) Ltd. 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. |
30 Yoden Way |
Peterlee |
SR8 1AL |
MJ Developments (Ashton) Ltd (Registered number: 10073841) |
Balance Sheet |
31 March 2020 |
2020 | 2019 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 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 |
Other reserves |
Retained earnings | ( |
) | ( |
) |
The directors acknowledge their 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. |
MJ Developments (Ashton) Ltd (Registered number: 10073841) |
Balance Sheet - continued |
31 March 2020 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
MJ Developments (Ashton) Ltd (Registered number: 10073841) |
Notes to the Financial Statements |
for the Year Ended 31 March 2020 |
1. | STATUTORY INFORMATION |
MJ Developments (Ashton) Ltd is a |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
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 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. |
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 year 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. |
HIRE PURCHASE AND LEASING COMMITMENTS |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
GOING CONCERN NOTE |
The financial statements have been prepared on a going concern basis, the director believes this assumption to be appropriate based on the continuing financial support of the company`s director and loan provider. |
If the going concern basis was not appropriate, adjustments would have to be made to restate the value of the assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
MJ Developments (Ashton) Ltd (Registered number: 10073841) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2019 |
Revaluations | 96,240 |
At 31 March 2020 |
NET BOOK VALUE |
At 31 March 2020 |
At 31 March 2019 |
Fair value at 31 March 2020 is represented by: |
£ |
Valuation in 2020 | 96,240 |
Cost | 499,760 |
596,000 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Other debtors |
Directors' current accounts | 6,199 | - |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Other loans |
Other creditors |
Directors' current accounts | 11,303 | 28,850 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2020 | 2019 |
£ | £ |
Other loans - 2-5 years |
Other loans more 5yrs instal | 249,703 | 261,556 |
Amounts falling due in more than five years: |
Repayable by instalments |
Other loans more 5yrs instal | 249,703 | 261,556 |
MJ Developments (Ashton) Ltd (Registered number: 10073841) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2020 | 2019 |
£ | £ |
Other loans |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 March 2020 and 31 March 2019: |
2020 | 2019 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
10. | RELATED PARTY DISCLOSURES |
Included within Other Creditors is an amount due to MJ Developments (Leeds) Limited, a company controlled by the directors, of £3,998 (2019: £7,330). |
Included within Other Creditors is an amount due from C80 Solutions Limited, a company controlled by the directors, for £51 (2019: Debtor of £2,649) |
Included within Other Creditors is an amount due from MJ Developments (Chesterfield) Limited, a company controlled by the directors, for £700 (2019: Debtor of £100) |