Mandale Freehold Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04799227 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Mandale Freehold Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D I Harriman

SECRETARIES:

P Davidson

J Darragh

REGISTERED OFFICE:

Mandale House

5 Neville Road

North Tees Industrial Estate

Stockton on Tees

TS18 2RD

REGISTERED NUMBER:

04799227 (England and Wales)

ACCOUNTANTS:

Anderson Barrowcliff LLP

Chartered Accountants

3 Kingfisher Court

Bowesfield Park

Stockton on Tees

TS18 3EX

CURRENT ASSETS

Cash at bank

2,280

2,334

CREDITORS

Amounts falling due within one year

3

19,726

19,726

NET CURRENT LIABILITIES

(17,446

)

(17,392

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(17,446

)

(17,392

)

CAPITAL AND RESERVES

Called up share capital

4

1

1

Retained earnings

(17,447

)

(17,393

)

SHAREHOLDERS' FUNDS

(17,446

)

(17,392

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 8 September 2017 and were signed by:

D I Harriman - Director

1.	STATUTORY INFORMATION

Mandale Freehold 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Going concern

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.

Notwithstanding the company's net liabilities of £17,446 at 31 March 2017 (2016 : £17,392) the financial

statements have been prepared on a going concern basis. This basis assumes the continuing support of the

associated companies. The director has received confirmation of such support.

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.

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.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance

sheet date. If such indication exists, the recoverable amount of the asset is estimated and compared to the

carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in

profit or loss.

3.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Owing to associated undertakings

19,138

19,138

Accrued expenses

588

588

19,726

19,726

As shown above, creditors include £19,138 (2016: £19,138) owing to associated undertakings. The company is

dependent upon the support of its associated companies with regard to the timing of the payment of these

associated company creditors. Given the liquidity concerns within the property sector generally, and therefore

within the associated companies, the timescale for payment of these balances is unknown. The director considers

that this will be more than one year from the balance sheet date for a significant proportion of these balances.

There are no formal terms of payment for these associated company balances.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1

Ordinary

£1

1

1

5.	RELATED PARTY DISCLOSURES

There have been no related party transactions or movements in the balances below in either the current or the

prior year.

Other related parties - common control

2017

2016

£

£

Balance at year end - debtor

-

-

Balance at year end - creditor

(19,138

)

(19,138

)

The above debtor balance at the year end is net of a bad debt provision of £319,263 (2016 : £319,263).