Mobile Caterers Properties Limited 31/10/2020 iXBRL

Mobile Caterers Properties Limited 31/10/2020 iXBRL


31/10/2020 2020-10-31 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2019-11-01 Sage Accounts Production 2020 Update 1 - FRS102_2014 xbrli:pure xbrli:shares iso4217:GBP 02828142 2019-11-01 2020-10-31 02828142 2020-10-31 02828142 2019-10-31 02828142 2018-11-01 2019-10-31 02828142 2019-10-31 02828142 bus:Director1 2019-11-01 2020-10-31 02828142 core:WithinOneYear 2020-10-31 02828142 core:WithinOneYear 2019-10-31 02828142 core:LandBuildings core:OwnedOrFreeholdAssets 2019-10-31 02828142 core:FurnitureFittingsToolsEquipment 2019-10-31 02828142 core:LandBuildings core:OwnedOrFreeholdAssets 2020-10-31 02828142 core:FurnitureFittingsToolsEquipment 2020-10-31 02828142 core:LandBuildings core:OwnedOrFreeholdAssets 2019-11-01 2020-10-31 02828142 core:FurnitureFittingsToolsEquipment 2019-11-01 2020-10-31 02828142 core:ShareCapital 2020-10-31 02828142 core:ShareCapital 2019-10-31 02828142 core:RetainedEarningsAccumulatedLosses 2020-10-31 02828142 core:RetainedEarningsAccumulatedLosses 2019-10-31 02828142 core:LandBuildings core:OwnedOrFreeholdAssets 2019-10-31 02828142 core:FurnitureFittingsToolsEquipment 2019-10-31 02828142 bus:Director1 2020-10-31 02828142 bus:Director1 2019-10-31 02828142 bus:SmallEntities 2019-11-01 2020-10-31 02828142 bus:AuditExemptWithAccountantsReport 2019-11-01 2020-10-31 02828142 bus:FullAccounts 2019-11-01 2020-10-31 02828142 bus:SmallCompaniesRegimeForAccounts 2019-11-01 2020-10-31 02828142 bus:PrivateLimitedCompanyLtd 2019-11-01 2020-10-31
Company registration number: 02828142
Mobile Caterers Properties Limited
Unaudited filleted financial statements
31 October 2020
MOBILE CATERERS PROPERTIES LIMITED
Contents
Statement of financial position
Notes to the financial statements
MOBILE CATERERS PROPERTIES LIMITED
STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2020
2020 2019
Note £ £ £ £
Fixed assets
Tangible assets 5 1,398,825 1,398,600
_______ _______
1,398,825 1,398,600
Current assets
Debtors 6 1,177 865
Cash at bank and in hand 130,063 125,351
_______ _______
131,240 126,216
Creditors: amounts falling due
within one year 7 ( 50,221) ( 40,247)
_______ _______
Net current assets 81,019 85,969
_______ _______
Total assets less current liabilities 1,479,844 1,484,569
Provisions for liabilities ( 65,383) ( 65,383)
_______ _______
Net assets 1,414,461 1,419,186
_______ _______
Capital and reserves
Called up share capital 5,701 5,701
Profit and loss account 8 1,408,760 1,413,485
_______ _______
Shareholder funds 1,414,461 1,419,186
_______ _______
For the year ending 31 October 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 July 2021 , and are signed on behalf of the board by:
Mrs M A Ede
Director
Company registration number: 02828142
MOBILE CATERERS PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 OCTOBER 2020
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Queens House, New Street, Honiton, Devon, EX14 1BJ.
Principal activity
The principal activity of the company continued to be that of renting out properties.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable forservices rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts is recorded at the fair value at the date of revaluation less any subseqeunt accumulated depreciation and subsequent accumulated impairment losses.
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:
Freehold property - Investment properties not depreciated
Fittings fixtures and equipment - 12.5% -25% reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is not available without undue cost or effort it shall be transferred to tangible assets and accounted for under the cost model until it is expected that fair value will be reliably measurable on an on-going basis.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting dat
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2019: 2 ).
5. Tangible assets
Freehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 November 2019 1,391,579 20,134 1,411,713
Additions - 1,962 1,962
Disposals - ( 451) ( 451)
_______ _______ _______
At 31 October 2020 1,391,579 21,645 1,413,224
_______ _______ _______
Depreciation
At 1 November 2019 - 13,113 13,113
Charge for the year - 1,550 1,550
Disposals - ( 264) ( 264)
_______ _______ _______
At 31 October 2020 - 14,399 14,399
_______ _______ _______
Carrying amount
At 31 October 2020 1,391,579 7,246 1,398,825
_______ _______ _______
At 31 October 2019 1,391,579 7,021 1,398,600
_______ _______ _______
Investment property
Included within the above is investment property as follows:
£
At 1 November 2019 and 31 October 2020 1,391,579
_______
6. Debtors
2020 2019
£ £
Other debtors 1,177 865
_______ _______
7. Creditors: amounts falling due within one year
2020 2019
£ £
Accruals and deferred income 3,716 3,747
Social security and other taxes 36,029 36,024
Other creditors 10,476 476
_______ _______
50,221 40,247
_______ _______
8. Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses. Included in reserves are £606,037 (2019: £606,037) which are undistributable.
9. Directors advances, credits and guarantees
Balance brought forward and o/standing Balance brought forward and o/standing
2020 2019
£ £
Mrs M A Ede 476 476
_______ _______