REGISTERED NUMBER: |
MYNYDD DEVELOPMENTS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1ST APRIL 2021 TO 30TH MARCH 2022 |
REGISTERED NUMBER: |
MYNYDD DEVELOPMENTS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1ST APRIL 2021 TO 30TH MARCH 2022 |
MYNYDD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04976344) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST APRIL 2021 TO 30TH MARCH 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 7 |
MYNYDD DEVELOPMENTS LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1ST APRIL 2021 TO 30TH MARCH 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants & Registered Auditors |
16 Lambourne Crescent |
Cardiff Business Park |
Llanishen |
Cardiff |
CF14 5GF |
MYNYDD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04976344) |
BALANCE SHEET |
30TH MARCH 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
MYNYDD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04976344) |
BALANCE SHEET - continued |
30TH MARCH 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 |
MYNYDD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04976344) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST APRIL 2021 TO 30TH MARCH 2022 |
1. | STATUTORY INFORMATION |
Mynydd Developments Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Land and buildings are not depreciated due to the assets useful economic life being so long and the residual value so high, that the depreciation charge and the accumulated depreciation are not material. |
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life. |
Furniture and Fittings 25% straight line |
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. |
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 period 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. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
MYNYDD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04976344) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1ST APRIL 2021 TO 30TH MARCH 2022 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1st April 2021 |
Additions |
At 30th March 2022 |
DEPRECIATION |
At 1st April 2021 |
Charge for period |
At 30th March 2022 |
NET BOOK VALUE |
At 30th March 2022 |
At 31st March 2021 |
Included in cost of land and buildings is freehold land of £ 503,714 (2021 - £ 503,714 ) which is not depreciated. |
The properties are held as investments and are therefore shown at cost. The directors are required to provide a market value every five years. This is due in 2022. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans |
MYNYDD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04976344) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1ST APRIL 2021 TO 30TH MARCH 2022 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2022 | 2021 |
£ | £ |
Bank loans |
9. | PROVISIONS FOR LIABILITIES |
2022 | 2021 |
£ | £ |
Deferred tax | 360 | 256 |
Deferred |
tax |
£ |
Balance at 1st April 2021 |
Provided during period |
Balance at 30th March 2022 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the period ended 30th March 2022 and the year ended 31st March 2021: |
2022 | 2021 |
£ | £ |
Balance outstanding at start of period |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
Balance outstanding at start of period |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
11. | RELATED PARTY DISCLOSURES |
Included in other debtors is a loan to CC&M Plant and Maintenance Services Limited of £0 (2021- £3,398). The loan is repayable on demand and no interest is charged. |
Included in trade creditors is an amount of £11,767.42. This amount is payable on demand and no interest is charges. |
Management charges of £6,840 (2021 £1,880) were paid to the same company. |
A Ward is a director of this company. |
MYNYDD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04976344) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1ST APRIL 2021 TO 30TH MARCH 2022 |
12. | ULTIMATE CONTROLLING PARTY |
The controlling party is the directors.. |