Mortar & Co Special Projects Limited Filleted accounts for Companies House (small and micro)

Mortar & Co Special Projects Limited Filleted accounts for Companies House (small and micro)

MORTAR & CO SPECIAL PROJECTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 11738289
MORTAR & CO SPECIAL PROJECTS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2022
MORTAR & CO SPECIAL PROJECTS LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2022
2022
2021
Note
£
£
£
£
FIXED ASSETS
Tangible assets
4
1,553
1,934
CURRENT ASSETS
Debtors
5
90,425
64,083
Cash at bank and in hand
64
32,710
--------
--------
90,489
96,793
CREDITORS: amounts falling due within one year
6
75,979
78,714
--------
--------
NET CURRENT ASSETS
14,510
18,079
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
16,063
20,013
CREDITORS: amounts falling due after more than one year
7
16,150
19,000
--------
--------
NET (LIABILITIES)/ASSETS
( 87)
1,013
--------
--------
CAPITAL AND RESERVES
Called up share capital fully paid
2
2
Profit and loss account
( 89)
1,011
----
-------
SHAREHOLDERS (DEFICIT)/FUNDS
( 87)
1,013
----
-------
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 Section 1A of 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 income and retained earnings has not been delivered.
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MORTAR & CO SPECIAL PROJECTS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2022
These financial statements were approved by the board of directors and authorised for issue on 29 March 2023 , and are signed on behalf of the board by:
Mr S Rosella
Director
Company registration number: 11738289
MORTAR & CO SPECIAL PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2022
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England. The address of the registered office is Headlands House, 1 Kings Court, Kettering Parkway, Kettering, Northamptonshire, NN15 6WJ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent 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:
Equipment
-
25% reducing balance
4. TANGIBLE ASSETS
Equipment
£
Cost
At 1 April 2021 and 31 March 2022
2,418
-------
Depreciation
At 1 April 2021
484
Charge for the year
381
-------
At 31 March 2022
865
-------
Carrying amount
At 31 March 2022
1,553
-------
At 31 March 2021
1,934
-------
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses
5. DEBTORS
2022
2021
£
£
Trade debtors
–
7,800
Other debtors
90,425
56,283
--------
--------
90,425
64,083
--------
--------
6. CREDITORS: amounts falling due within one year
2022
2021
£
£
Trade creditors
2,132
14,114
Other creditors
73,847
64,600
--------
--------
75,979
78,714
--------
--------
7. CREDITORS: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
16,150
19,000
--------
--------
8. FINANCIAL INSTRUMENTS
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
During the year the director entered into the following advances and credits with the company:
2022
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr S Rosella
16,237
5,478
–
21,715
--------
-------
----
--------
2021
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr S Rosella
–
19,100
( 2,863)
16,237
----
--------
-------
--------