MHL Build Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07235053 (England and Wales)

MHL BUILD LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J N Leonard

A J Melrose

REGISTERED OFFICE:

2 St Andrews Place

Lewes

East Sussex

BN7 1UP

REGISTERED NUMBER:

07235053 (England and Wales)

AUDITORS:

Clark Brownscombe

Chartered Accountants

and Statutory Auditors

2 St Andrews Place

Lewes

East Sussex

BN7 1UP

CURRENT ASSETS

Stocks

617,500

554,916

Debtors

4

841,140

925,519

Cash at bank and in hand

62,078

21,696

1,520,718

1,502,131

CREDITORS

Amounts falling due within one year

5

631,042

551,236

NET CURRENT ASSETS

889,676

950,895

TOTAL ASSETS LESS CURRENT LIABILITIES

889,676

950,895

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

889,576

950,795

SHAREHOLDERS' FUNDS

889,676

950,895

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8th April 2022 and were signed on its behalf by:

A J Melrose - Director

1.	STATUTORY INFORMATION

MHL Build 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.

Stocks

Work in progress represents property acquired for developments together with work in progress on those properties. These assets are included at the lower of cost and net realisable value. Cost for this purpose comprises the purchase cost of the land and buildings, development expenditure and interest on loans. Where applicable costs are apportioned to the property sales on an estimated proceeds basis.

Taxation

Taxation for the year comprises current 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 taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

841,140

925,519

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

525,000

525,000

Trade creditors

30,000

-

Other creditors

76,042

26,236

631,042

551,236

6.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

525,000

525,000

The bank loans are secured by legal charges over the property owned by the company.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

50

'A' Ordinary

£1

50

50

50

'B' Ordinary

£1

50

50

100

100

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robert Scrivins BA (Hons) FCA CTA DChA TEP (Senior Statutory Auditor)

for and on behalf of Clark Brownscombe