Mytton Mill Developments Limited - Accounts to registrar (filleted) - small 18.2
Mytton Mill Developments Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 |
FOR |
MYTTON MILL DEVELOPMENTS LIMITED |
MYTTON MILL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09704123) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MYTTON MILL DEVELOPMENTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2021 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Kingsland House |
39 Abbey Foregate |
Shrewsbury |
Shropshire |
SY2 6BL |
MYTTON MILL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09704123) |
BALANCE SHEET |
31 JULY 2021 |
31.7.21 | 31.7.20 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
MYTTON MILL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09704123) |
BALANCE SHEET - continued |
31 JULY 2021 |
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 |
MYTTON MILL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09704123) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2021 |
1. | STATUTORY INFORMATION |
Mytton Mill Developments Limited is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention. |
The financial statements are for the individual entity only. |
The financial statements are presented in Sterling (£), rounded to the nearest £1. |
At the balance sheet date the company had net liabilities of £141,738 (2020: £122,896). This is due to loans from related parties of £1,277,966 (2020: £1,460,004), which are included within creditors due after more than one year. The directors have reviewed the support of related companies and consider that the going concern basis of preparation remains appropriate. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Stocks |
Work in progress is valued at the lower of cost and net realisable value and a prudent estimate of profit attributable to work completed is recognised once the outcome of the project can be assessed with reasonable certainty. |
Financial instruments |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. |
Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss. |
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards or control of the ownership of the asset are transferred to another party. |
Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost. |
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
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. |
MYTTON MILL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09704123) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2021 |
3. | 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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | STOCKS |
31.7.21 | 31.7.20 |
£ | £ |
Work-in-progress |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.21 | 31.7.20 |
£ | £ |
Amounts owed by related parties |
VAT |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.21 | 31.7.20 |
£ | £ |
Trade creditors |
Tax |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.7.21 | 31.7.20 |
£ | £ |
Amounts owed to related parties |
MYTTON MILL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09704123) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2021 |
9. | RELATED PARTY DISCLOSURES |
Entities with control, joint control or significant influence over the entity |
31.7.21 | 31.7.20 |
£ | £ |
Purchases | 40,131 | 974,916 |
Interest charged from | 39,325 | 42,088 |
Amounts due to related parties | 1,277,966 | 1,460,004 |
Interest was charged at 3.5% per annum on all outstanding loans from related parties. |
Other related parties |
31.7.21 | 31.7.20 |
£ | £ |
Amounts due from | 1,233 | 1,964 |
The company is owned equally by JJR Investments Limited and Capital Construction Holdings Limited. There is no overall controlling party. |