Morden Realty Management Limited 31/08/2021 iXBRL
Morden Realty Management Limited 31/08/2021 iXBRL
Company registration number:
08067192
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Directors and other information
Directors |
|
|
|
||
Secretary |
|
|
Company number |
|
|
Registered office |
|
|
|
||
|
||
|
||
Business address |
|
|
|
||
|
||
Accountants |
|
|
797 Harrow Road | ||
Sudbury Town | ||
Wembley | ||
HA0 2LP | ||
Statement of financial position
31 August 2021
2021 | 2020 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 4 |
|
|
||||||
_______ | _______ | ||||||||
|
|
||||||||
Current assets | |||||||||
Stocks |
|
- | |||||||
Debtors | 5 |
|
|
||||||
Cash at bank and in hand |
|
|
|||||||
_______ | _______ | ||||||||
|
|
||||||||
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 |
(
|
(
|
||||||
_______ | _______ | ||||||||
Net liabilities |
(
|
(
|
|||||||
_______ | _______ | ||||||||
Capital and reserves | |||||||||
Called up share capital |
|
|
|||||||
Profit and loss account |
(
|
(
|
|||||||
_______ | _______ | ||||||||
Shareholders deficit |
(
|
(
|
|||||||
_______ | _______ | ||||||||
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
16 August 2022
, and are signed on behalf of the board by:
Director
Company registration number:
08067192
Notes to the financial statements
Year ended 31 August 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 797 Harrow Road, Sudbury Town, Wembley, HA0 2LP.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property | - |
|
||
Fittings fixtures and equipment | - |
|
|
|
Impairment
Stocks
Government grants
Financial instruments
4.
Tangible assets
Short leasehold property | Fixtures, fittings and equipment | Total | ||
£ | £ | £ | ||
Cost | ||||
At 1 September 2020 |
|
|
|
|
Additions | - |
|
|
|
_______ | _______ | _______ | ||
At 31 August 2021 |
|
|
|
|
_______ | _______ | _______ | ||
Depreciation | ||||
At 1 September 2020 |
|
|
|
|
Charge for the year |
|
|
|
|
_______ | _______ | _______ | ||
At 31 August 2021 |
|
|
|
|
_______ | _______ | _______ | ||
Carrying amount | ||||
At 31 August 2021 |
|
|
|
|
_______ | _______ | _______ | ||
At 31 August 2020 |
|
|
|
|
_______ | _______ | _______ | ||
5.
Debtors
2021 | 2020 | |||
£ | £ | |||
Trade debtors |
|
|
||
Other debtors |
|
|
||
_______ | _______ | |||
|
|
|||
_______ | _______ | |||
6.
Creditors: amounts falling due within one year
2021 | 2020 | |||
£ | £ | |||
Bank loans and overdrafts |
|
|
||
Trade creditors |
|
|
||
Amounts owed to group undertaking |
|
|
||
Corporation tax |
|
|
||
Social security and other taxes | - |
|
||
Other creditors |
|
|
||
_______ | _______ | |||
|
|
|||
_______ | _______ | |||
7.
Creditors: amounts falling due after more than one year
2021 | 2020 | |||
£ | £ | |||
Bank loans and overdrafts |
|
|
||
_______ | _______ | |||
The bank loans are secured by fixed and floating charge over all assets of the company. The loans are for a term of 7 and 6 years from draw down and at an interest of 3.5% over bank's base rate and at fixed interest rate of 2.49%. The above loans include,CBILS loan, part guaranteed by UK Government. First year interest and any bank levied charges on this loan is paid by the government.
8.
Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company: | ||||
2021 | ||||
Balance brought forward | Advances /(credits) to the directors | Balance o/standing | ||
£ | £ | £ | ||
|
|
|
|
|
_______ | _______ | _______ | ||
2020 | ||||
Balance brought forward | Advances /(credits) to the directors | Balance o/standing | ||
£ | £ | £ | ||
|
(
|
|
|
|
_______ | _______ | _______ | ||
9.
Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value | Balance owed by/(owed to) | ||||
2021 | 2020 | 2021 | 2020 | ||
£ | £ | £ | £ | ||
|
|
98,328 |
(
|
(
|
|
Morden Hall Events Limited | 333,092 | 80,102 |
(
|
(
|
|
_______ | _______ | _______ | _______ | ||
10.
Controlling party
11.
Going Concern
Directors reviewed the net deficit position at Balance Sheet date. Directors prepared and reviewed the financial forecast of the company for the next two financial years and are confident that the company will return to profit within this time. With the continued support of the company's bankers, directors confirm that their support to the company to meet its obligations for the foreseeable future. Therefore the accounts have been prepared on going concern basis.