Mentro Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06562066 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st December 2017

for

Mentro Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

Mr M E Williams

Mr I LL Williams

SECRETARY:

Mr I LL Williams

REGISTERED OFFICE:

Adeilad St David's Building

Stryd Lombard Street

Porthmadog

Gwynedd

LL49 9AP

REGISTERED NUMBER:

06562066 (England and Wales)

ACCOUNTANTS:

Dunn & Ellis Cyf

Chartered Accountants

Adeilad St David's Building

Stryd Lombard Street

Porthmadog

Gwynedd

LL49 9AP

FIXED ASSETS

Investment property

3

210,000

160,000

CURRENT ASSETS

Cash at bank

7,020

4,947

CREDITORS

Amounts falling due within one year

4

79,759

79,522

NET CURRENT LIABILITIES

(72,739

)

(74,575

)

TOTAL ASSETS LESS CURRENT LIABILITIES

137,261

85,425

CREDITORS

Amounts falling due after more than one year

5

(54,120

)

(59,040

)

PROVISIONS FOR LIABILITIES

(16,126

)

-

NET ASSETS

67,015

26,385

CAPITAL AND RESERVES

Called up share capital

100

100

Non-distributable reserve

7

68,746

34,872

Retained earnings

(1,831

)

(8,587

)

SHAREHOLDERS' FUNDS

67,015

26,385

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

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

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.

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 Board of Directors on 27th April 2018 and were signed on its behalf by:

Mr I LL Williams - Director

1.	STATUTORY INFORMATION

Mentro Developments 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 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

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.

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st January 2017

160,000

Revaluations

50,000

At 31st December 2017

210,000

NET BOOK VALUE

At 31st December 2017

210,000

At 31st December 2016

160,000

Fair value at 31st December 2017 is represented by:

£

Valuation in 2016

34,872

Valuation in 2017

50,000

Cost

125,128

210,000

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Bank loans and overdrafts

4,920

4,920

Trade creditors

2,301

2,364

Other creditors

72,538

72,238

79,759

79,522

The Other creditors as stated above comprises of the following amounts, owed to the following Companies:

£15,838 - Elis Williams Construction Limited, in which Mr M E Williams is a Director;

£150 - EJW Properties Limited, in which Mr M E Williams is a Director;

£5,000 - Iori Limited, in which Mr I LL Williams is a Director.

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.17

31.12.16

£

£

Bank loans

54,120

-

Other creditors

-

59,040

54,120

59,040

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

34,440

-

6.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.17

31.12.16

£

£

Bank loans

59,040

4,920

Other loans

-

59,040

59,040

63,960

The following mortgage charges have been registered on the company's record on Companies House:

8th January, 2015 - Handelsbanken - 18 Norbury Avenue

8th January, 2015 - Handelsbanken - Floating charge

7.

RESERVES

Non-distributable

reserve

£

At 1st January 2017

34,872

Revaluation

50,000

Deferred tax

(16,126

)

At 31st December 2017

68,746

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors loan account was in credit throughout the year in 2016 and this did not change in 2017.

9.	RELATED PARTY DISCLOSURES

No dividends were allocated during the year.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party are both directors.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Mentro Developments Limited for the year ended 31st December 2017 which comprise the

Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Mentro Developments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mentro Developments Limited and state those matters that we have agreed to state to the Board of Directors of Mentro Developments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mentro Developments Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Mentro Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mentro Developments Limited. You consider that Mentro Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Mentro Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Dunn & Ellis Cyf

Chartered Accountants

Adeilad St David's Building

Stryd Lombard Street

Porthmadog

Gwynedd

LL49 9AP

Date: .............................................