Mendoza Invests Limited - Accounts to registrar (filleted) - small 18.2
Mendoza Invests Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2021 |
| FOR |
| MENDOZA INVESTS LIMITED |
| MENDOZA INVESTS LIMITED (REGISTERED NUMBER: 11959121) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 30 April 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| MENDOZA INVESTS LIMITED |
| COMPANY INFORMATION |
| for the year ended 30 April 2021 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Q Court |
| 3 Quality Street |
| Edinburgh |
| EH4 5BP |
| MENDOZA INVESTS LIMITED (REGISTERED NUMBER: 11959121) |
| BALANCE SHEET |
| 30 April 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| 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. |
| MENDOZA INVESTS LIMITED (REGISTERED NUMBER: 11959121) |
| BALANCE SHEET - continued |
| 30 April 2021 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| MENDOZA INVESTS LIMITED (REGISTERED NUMBER: 11959121) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 30 April 2021 |
| 1. | STATUTORY INFORMATION |
| Mendoza Invests Limited is a |
| 2. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
| At 30 April 2021 the company had net current liabilities of £111,554 (2020 - £111,223) and relies on the continued support of the director to finance its day-to-day working requirements. The director considers it appropriate to prepare the financial statements on the going concern basis. |
| The Director has reviewed and considered relevant information, including the annual budget and future cash flows in making his assessment. In particular, in response to the COVID-19 pandemic, the Director has tested his cash flow analysis to take into account the impact on their business of possible scenarios brought on by the impact of COVID-19, alongside the measures that he can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Director has concluded that he can continue to adopt the going concern basis in preparing the annual report and accounts. |
| TURNOVER |
| Turnover represents rental income receivable in the year. |
| TANGIBLE FIXED ASSETS |
| Fixtures and fittings | - |
| 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 Statement of Income and Retained Earnings, 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. |
| MENDOZA INVESTS LIMITED (REGISTERED NUMBER: 11959121) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 April 2021 |
| 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. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 May 2020 |
| Additions |
| At 30 April 2021 |
| DEPRECIATION |
| At 1 May 2020 |
| Charge for year |
| At 30 April 2021 |
| NET BOOK VALUE |
| At 30 April 2021 |
| At 30 April 2020 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 May 2020 |
| Revaluations | (1,326 | ) |
| At 30 April 2021 |
| NET BOOK VALUE |
| At 30 April 2021 |
| At 30 April 2020 |
| MENDOZA INVESTS LIMITED (REGISTERED NUMBER: 11959121) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 April 2021 |
| 5. | INVESTMENT PROPERTY - continued |
| Fair value at 30 April 2021 is represented by: |
| £ |
| Valuation in 2021 | (1,326 | ) |
| Cost | 321,326 |
| 320,000 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2021 | 2020 |
| £ | £ |
| Cost | 321,326 | 321,326 |
| Investment property was valued on an open market basis on 30 April 2021 by the director . |
| Investment property with a carrying value of £320,000 (2020 - £321,326) is pledged as security for company's bank loan. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans more than 5 years non-installments |
| MENDOZA INVESTS LIMITED (REGISTERED NUMBER: 11959121) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 April 2021 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| The Mortgage Works (UK) PLC hold charges which covers all of the investment property. |
| 10. | PROVISIONS FOR LIABILITIES |
| 2021 | 2020 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances |
| Tax losses carried forward | ( |
) | ( |
) |
| Revalued assets | 455 | - |
| 556 | 19 |
| Deferred |
| tax |
| £ |
| Balance at 1 May 2020 |
| Charge to Statement of Income and Retained Earnings during year |
| Balance at 30 April 2021 |
| 11. | RELATED PARTY DISCLOSURES |
| Included in "Other creditors" is an amount of £113,000 (2020 - £113,000) due to the director from the company. The loan is interest free and no repayment terms have agreed. |