REGISTERED NUMBER:
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Masshouse Developments Ltd |
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Financial Statements |
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for the Period 1 January 2019 to 31 March 2020 |
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REGISTERED NUMBER:
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Masshouse Developments Ltd |
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Financial Statements |
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for the Period 1 January 2019 to 31 March 2020 |
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Masshouse Developments Ltd (Registered number: 04599607) |
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Contents of the Financial Statements |
for the period 1 January 2019 to 31 March 2020 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Masshouse Developments Ltd |
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Company Information |
for the period 1 January 2019 to 31 March 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants and |
Statutory Auditor |
28 Eaton Avenue |
Matrix Office Park |
Buckshaw Village |
Chorley |
Lancashire |
PR7 7NA |
Masshouse Developments Ltd (Registered number: 04599607) |
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Balance Sheet |
31 March 2020 |
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2020 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Masshouse Developments Ltd (Registered number: 04599607) |
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Notes to the Financial Statements |
for the period 1 January 2019 to 31 March 2020 |
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1. | STATUTORY INFORMATION |
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Masshouse Developments Ltd is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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The amounts in the financial statements have been rounded to the nearest £1. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Preparation of consolidated financial statements |
The financial statements contain information about Masshouse Developments Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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Going concern |
At the balance sheet date the company had an excess of current liabilities over current assets. The financial statements have been prepared on a going concern basis as the parent company Nikal (Jersey) Limited, has confirmed that it will continue to provide financial support to the company for the foreseeable future. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Financial instruments |
Financial instruments are classified and accounted for according to the substance of the contractual arrangement as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
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Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Masshouse Developments Ltd (Registered number: 04599607) |
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Notes to the Financial Statements - continued |
for the period 1 January 2019 to 31 March 2020 |
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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. |
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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 period end and that are expected to apply to the reversal of the timing difference. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was NIL (2018 - NIL). |
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4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2019 |
and 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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At 31 December 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2018 |
£ | £ |
Amounts owed by group undertakings |
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Other debtors |
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Tax |
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Deferred tax | 4,503 | 4,503 |
Prepayments and accrued income |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2018 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to group undertakings |
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Accruals and deferred income |
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Masshouse Developments Ltd (Registered number: 04599607) |
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Notes to the Financial Statements - continued |
for the period 1 January 2019 to 31 March 2020 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2020 | 2018 |
£ | £ |
Bank loans - 1-2 years |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2020 | 2018 |
£ | £ |
Bank loans |
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The bank loans are secured by a floating charge dated 15 March 2018, which covers all property of the company, which held in stock. |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2018 |
value: | £ | £ |
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B ordinary shares | £1 | 2 | 2 |
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A Ordinary shares | £1 | 2 | 2 |
4 | 4 |
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10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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11. | CONTROLLING PARTY |
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The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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The controlling party is Nikal Ltd, which prepares consolidated financial statements. Copies of these accounts are publicly available, and available from the head office of Nikal Ltd. |
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12. | ULTIMATE CONTROLLING PARTY |
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The ultimate parent company is Nikal (Jersey) Limited, a company incorporated in Jersey. Nikal (Jersey) Limited is exempt from the requirement to prepare group accounts. Nikal (Jersey) Limited is a UK resident company for tax purposes. |