Mansion Gate House Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04246383 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2021

FOR

MANSION GATE HOUSE LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

R J N Bousfield

K J Bousfield

REGISTERED OFFICE:

Ashcourt Group

Foster Street

Hull

East Yorkshire

HU8 8BT

REGISTERED NUMBER:

04246383 (England and Wales)

ACCOUNTANTS:

Lloyd Dowson Limited

Medina House

2 Station Avenue

Bridlington

East Yorkshire

YO16 4LZ

CURRENT ASSETS

Inventories

-

627,500

Debtors

4

1,788,077

379,923

Cash at bank

894

94,426

1,788,971

1,101,849

CREDITORS

Amounts falling due within one year

5

3,235,806

2,460,771

NET CURRENT LIABILITIES

(1,446,835

)

(1,358,922

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,446,835

)

(1,358,922

)

CREDITORS

Amounts falling due after more than one year

6

835,833

341,667

NET LIABILITIES

(2,282,668

)

(1,700,589

)

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

(2,282,670

)

(1,700,591

)

SHAREHOLDERS' FUNDS

(2,282,668

)

(1,700,589

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 Board of Directors and authorised for issue on 28 July 2022 and were signed on its behalf by:

......................................................................

K J Bousfield - Director

1.	STATUTORY INFORMATION

Mansion Gate House Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis, the validity of which is dependent upon the continued financial support of the directors and fellow group members. The directors of the group and fellow group members have confirmed that this support will continue.

On the above basis, the directors consider that the going concern basis remains appropriate.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Inventories

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 NIL (2020 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.21

31.10.20

£

£

Amounts owed by group undertakings

170,000

180,806

Amounts owed by associates

1,614,017

158,350

Other debtors

4,060

40,767

1,788,077

379,923

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.21

31.10.20

£

£

Bank loans and overdrafts

10,000

8,333

Trade creditors

2,160

2,070

Amounts owed to group undertakings

1,768,656

794,142

Amounts owed to associates

1,353,098

1,484,249

Other creditors

101,892

171,977

3,235,806

2,460,771

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.21

31.10.20

£

£

Bank loans

35,833

41,667

Other creditors

800,000

300,000

835,833

341,667

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

-

1,667

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.21

31.10.20

£

£

Bank loans

45,833

50,000

Other loans

300,000

400,000

345,833

450,000

Loans totalling £300,000 are secured by a personal guarantee given by a director, K J Bousfield.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.21

31.10.20

value:

£

£

2

Ordinary

1

2

2