Mitmas (Letchworth) Limited - Accounts to registrar (filleted) - small 18.2
Mitmas (Letchworth) Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 May 2021 |
| for |
| Mitmas (Letchworth) Limited |
| Mitmas (Letchworth) Limited (Registered number: 09577168) |
| Contents of the Financial Statements |
| for the Year Ended 31 May 2021 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Mitmas (Letchworth) Limited |
| Company Information |
| for the Year Ended 31 May 2021 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 5 Technology Park |
| Colindeep Lane |
| Colindale |
| London |
| NW9 6BX |
| Mitmas (Letchworth) Limited (Registered number: 09577168) |
| Statement of Financial Position |
| 31 May 2021 |
| 2021 | 2020 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Inventories | 4 |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| 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. |
| Mitmas (Letchworth) Limited (Registered number: 09577168) |
| Statement of Financial Position - continued |
| 31 May 2021 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Mitmas (Letchworth) Limited (Registered number: 09577168) |
| Notes to the Financial Statements |
| for the Year Ended 31 May 2021 |
| 1. | STATUTORY INFORMATION |
| Mitmas (Letchworth) Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The accounts have been prepared on a going concern basis, on the understanding that continued financial support will be available from the directors for a period of at least twelve months from the date of approval of these financial statements. |
| Stock |
| Stock have been valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress, costs include a relevant proportion of overheads according to the stage of completion. |
| Financial instruments |
| The company only enters into basic financial instruments transactions that result in the recognition of financial asset and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttabale ordinary shares. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for |
| objective evidence of impairment.If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. |
| Debtors |
| Basic financial assets, including trade and other debtors are measured at transaction price, less any impairment. |
| Cash and cash equivalents Cash and cash equivalents represented by cash in hand and deposits held at call with financial institutions, are measured at amortised cost. |
| Creditors |
| Basic financial liabilities, including trade and other creditors, are recognised at transaction price. |
| 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 statement of financial position date. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INVENTORIES |
| 2021 | 2020 |
| £ | £ |
| Properties under development |
| Mitmas (Letchworth) Limited (Registered number: 09577168) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2021 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Other debtors |
| Amounts owed by a related |
| company | 1,460 | 1,460 |
| Value added tax |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Other creditors |
| Amounts owed to a related |
| company | 170,350 | 170,350 |
| Directors' current accounts | 597,636 | 1,321,282 |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans - 1-2 years |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| The bank loan is secured by a fixed and floating charge over the assets of the company, registered 29 March 2018. Security has also been partly provided in the form of a personal guarantee by the directors. |
| 9. | RELATED PARTY DISCLOSURES |
| Amounts due from related companies are interest free loans and repayable on demand. The directors have a material interest in these companies. |