MAHB Capital Limited - Accounts to registrar (filleted) - small 22.3
MAHB Capital Limited - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022 |
| FOR |
| MAHB CAPITAL LIMITED |
| MAHB CAPITAL LIMITED (REGISTERED NUMBER: 07157095) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| MAHB CAPITAL LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 28 FEBRUARY 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| Ingram House |
| Meridian Way |
| Norwich |
| Norfolk |
| NR7 0TA |
| MAHB CAPITAL LIMITED (REGISTERED NUMBER: 07157095) |
| BALANCE SHEET |
| 28 FEBRUARY 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| 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 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Non-distributable reserve |
| 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. |
| MAHB CAPITAL LIMITED (REGISTERED NUMBER: 07157095) |
| BALANCE SHEET - continued |
| 28 FEBRUARY 2022 |
| 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 |
| MAHB CAPITAL LIMITED (REGISTERED NUMBER: 07157095) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2022 |
| 1. | STATUTORY INFORMATION |
| MAHB Capital Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets. |
| The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
| Revenue recognition |
| Revenue is the fair value of consideration received or receivable for goods and services provided in the normal course of business, net of value added tax. Property rental income is recognised on a straight-line basis over the term of the relevant lease unless the lease payments are structured to increase with general inflation in which case the income is recognised as revenue in accordance with the expected payments. Revenue from drink and food is recognised at the point at which the goods are provided. Revenue from the sale of developments is recognised when the significant risks and rewards of ownership has transferred to the buyer. |
| Tangible assets |
| Tangible assets are recorded at cost less accumulated depreciation. Depreciation is calculated, using the straight-line method, to allocate the depreciable amount to their residual values over their estimated useful lives, as follows: |
| Land and buildings: 50 years |
| Plant and machinery etc: 3 - 10 years |
| Government grants |
| Government grants are recognised when there is reasonable assurance that the grant conditions will be met and the grant will be received. These grants are recognised within other operating income on a systematic basis over the periods in which the related costs towards which they are intended to compensate are recognised as expenses. |
| Coronavirus Job Retention Scheme (CJRS) |
| Grants received in relation to the Coronavirus Job Retention Scheme are accounted for on the accruals basis once the related payroll return has been submitted. |
| Investment property |
| Investment property is initially recorded at cost which includes purchase cost and any directly attributable expenditure. |
| Investment property whose fair value can be measured reliably are measured at fair value. The gain or loss on revaluation is recognised in the Statement of Comprehensive Income in the period in which it arises. Such gains or losses are transferred from retained earnings to a non-distributable reserve. |
| Stocks |
| Work in progress is valued at the lower of cost and net realisable value. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
| 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. |
| MAHB CAPITAL LIMITED (REGISTERED NUMBER: 07157095) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2022 |
| 2. | 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES |
| The average number of employees during the year was |
| 4. | TANGIBLE ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 March 2021 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 28 February 2022 |
| DEPRECIATION |
| At 1 March 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 28 February 2022 |
| NET BOOK VALUE |
| At 28 February 2022 |
| At 28 February 2021 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 March 2021 |
| and 28 February 2022 |
| NET BOOK VALUE |
| At 28 February 2022 |
| At 28 February 2021 |
| MAHB CAPITAL LIMITED (REGISTERED NUMBER: 07157095) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2022 |
| 5. | INVESTMENT PROPERTY - continued |
| The directors value the company's investment property portfolio annually at the balance sheet date. The directors assess the open market value of the company's investment property on the basis of local market conditions and their own knowledge and experience. |
| The historical cost of the company's investment property was £1,926,056 (2021 - £1,926,056). |
| 6. | DEBTORS |
| 2022 | 2021 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Other debtors |
| Amounts falling due after more than one year: |
| Amounts owed by group undertakings |
| Aggregate amounts |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| Bank loans outstanding at the year end include instalments due after more than five years of £13,125 (2021 - £97,068). |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts | 4,181,923 | 4,328,859 |
| Bank loans and overdrafts are secured by fixed and floating charges over the company's assets. |
| MAHB CAPITAL LIMITED (REGISTERED NUMBER: 07157095) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2022 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2022 | 2021 |
| value: | £ | £ |
| Ordinary A | £1 | 1 | 1 |
| Ordinary B | £1 | 1 | 1 |
| Ordinary C | £1 | 1 | 1 |
| 3 | 3 |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following loan, included in other debtors, to directors subsisted during the years ended 28 February 2022 and 28 February 2021: |
| 2022 | 2021 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Interest of £1,295 (2021 - £15,144) was charged at HM Revenue and Customs' official rate of interest on the loans by the company. |
| The above loans are unsecured and repayable on demand. |
| 12. | PARENT UNDERTAKING |
| The ultimate parent undertaking is |
| The company is not a member of a group for which consolidated financial statements are prepared. |