Contents of the Financial Statements

for the Period Ended 30 September 2021

Directors' report period ended 30 September 2021

The directors present their report with the financial statements of the company for the period ended 30 September 2021

Directors

The directors shown below have held office during the period of
1 April 2020 to 29 January 2021

The directors shown below have held office during the period of
29 January 2021 to 30 September 2021

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
30 June 2022

And signed on behalf of the board by:
Name: Alan Bishop
Status: Director

Profit And Loss Account

for the Period Ended 30 September 2021

Balance sheet

As at 30 September 2021

The notes form part of these financial statements

Balance sheet statements

For the year ending 30 September 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 30 September 2021

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Turnover represents income from the sale of development properties at invoiced amounts net of value added tax and arises solely within the United Kingdom. Sales of properties are accounted for when exchanged contracts become unconditional. Profits on pre-sold development properties are only accounted for when all material development risks have passed.

  Other accounting policies

  Basis of preparation of financial statementsThe financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.The financial statements are prepared in Sterling (£), which is the functional currency of the entity.DebtorsShort term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.Going concernDuring the period the company sold its remaining property to its immediate parent company NW MLI Livingston Limited and ceased to trade. It is expected that the Company will be dissolved with 12 months of the period end. The financials statements have been prepared on a basis other than that of a going concern.CreditorsShort term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.Interest costsAll financing costs are recognised in the Statement of Income and Retained Earnings in the year in which they are incurred.Income taxThe taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.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 tax losses 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.StocksStocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. The stock balance at year end relates to completed developments.Financial instrumentsA financial asset or a financial liability is recognised only when the Company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.

Notes to the Financial Statements

for the Period Ended 30 September 2021

• 2. Employees

  	18 months to 30 September 2021	2020
  Average number of employees during the period	0	0